Signature loan

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It has been suggested that this article or section be merged with unsecured loan. (Discuss)

A signature loan is a loan that is not backed by collateral; i.e., the sole criterion for the decision to grant the loan and establish the terms thereof is an assessment of the customer's credit rating. Also known as an unsecured or personal loan.

There are many different banks or lenders that offer these types of loans but most consumers don't qualify. These loans are based upon the applicants credit and income.