There are two kind of loans , Secured Loan and Unsecured Loan. Secured loan is a loan where a lender has access to some kind of asset so that incase you run away, he can liquidate the asset and take his full or partial money back, as there is a sense of security in secured loans, you have to pay a lower rate of interest on these loans. However a Unsecured loan is a loan where the lender has no access to any asset and incase you run away , bank has no way to get back that loan , thats the reason you have to pay very high interest rates on these loans, Personal loan and credit card are examples of these loans. The biggest reason why someone should go for these alternative loans is that the processing of these loans are much faster and better rates compared to a personal loan. So now lets see some alternatives to personal loan incase you posses an asset.