There are a number of reasons why you might want to borrow money. It could be that there's a new car you've got your eye on, or you need to pay for a wedding. Whatever the circumstances, a personal loan is just one way of getting a lump sum quickly.
With an unsecured loan, you don’t have to offer up any kind of collateral (e.g. your house) as a guarantee in order to get the loan. Whilst this could mean less risk to you when borrowing the money, unsecured loans tend to have higher interest rates as a result.