Secured personal loan is one type of bank loan that require the borrower put up an asset as collateral.

Common types of secured loan:
1. mortgage
2. home equity loan
3. vehicle

Interest rate: depend on the bank or company that you choose

Pros:
1. low interest rate
2. can borrow a large amount
3. people who have low credit can apply

Cons: risk of losing property that you put as collateral

Click on the posts if you want to know more about secured loan.

Reference: https://money.usnews.com/loans/personal-loans/articles/what-is-a-secured-personal-loan#:~:text=He%20adds%20that%20the%20typical%20eligibility%20requirements%20for,or%20a%20certain%20amount%20of%20collateral%2C%22%20he%20says.