When you decide to get an unsecured personal loan, i.e. a loan that won’t require you to provide collateral, then you understand right from the beginning that the interest rate is bound to be a bit higher. After all, if you do provide collateral, then you can find some lenders that are willing to lower the interest rates, but the advantage of the unsecured option lies in the fact that you won’t have to be concerned about losing some of your assets if something unpredictable happens.