Key takeaways Unsecured loans are debt products that do not require collateral but may come with higher interest rates and stricter credit requirements. There are various unsecured loans, including personal loans, student loans, and credit cards. When determining eligibility for an unsecured loan, lenders will consider factors such as credit history, income and debt-to-income ratio. Unsecured loans are offered by banks, credit unions and online lenders. Unlike secured loans, they’re not backed by ...