Unsecured personal loan is one type of bank loan that don’t require the borrower put up an asset as collateral.

Target audience: people who don’t want to put their asset as collateral but have good credit

Pros: don’t have risk on losing asset that the borrower put as collateral
Cons: need good credit of the borrower and solid finances

reference: https://www.forbes.com/advisor/personal-loans/what-is-an-unsecured-loan/