An unsecured loan is a loan which does not have any collateral in place, such as land or apartment, and is solely based on a borrower’s credit history and potential ability to repay. Secured loans have assets as collateral so that if a borrower cannot repay the loan, Estateguru's security agent will start the asset sales process. Hereby, the risk of losing the money lent to the borrower is minimized.
More about real estate collaterals can be found in Estateguru's blog via the link