Secured Loan
Real Estate
A loan that is backed by property such as a house, car, jewelry, etc.
A loan backed by collateral such as property.
Personal Finance
A secured loan is a loan that's guaranteed with collateral, such as a home or car. If you default and fail to make payments on time, the lender can take possession of your collateral and sell it to recover the loan amount.
In most cases, lenders charge a lower interest rate on a secured loan than on an unsecured loan of comparable size. An unsecured loan is guaranteed only by your promise to pay, not by collateral.