What is the difference between Secured and Unsecured Loans?

Suncorp Bank Secured Loans are available if you're buying a car that's twelve years old or less at the end of the loan term. Suncorp Bank will use your car as security for the loan, which means we can offer you a lower interest rate. If you're buying a car that doesn't fit this description, or borrowing for another purpose, don't worry. You can still apply for a Suncorp Bank Unsecured Personal Loan. Unsecured Personal Loans are for any worthwhile purpose - from holidays to home renovations.