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The words unsecured and low rate cannot usually be used to describe the same loan. Usually in giving an unsecured loan a bank is taking a greater risk with you and will therefore charge higher interest. This may be about 2-6% more per annum than a secured loan for the same amount.

Unsecured loans for someone with poor credit will definitely have bd interest rates as someone with bad credit and low security you would pose a big risk for the lender.

Unsecured loans, especially for a person with poor credit are likely to be lower in value in the region of a few hundred pounds. This is another way that the banks limit their risk, by lending only small amounts at this high risk level. If you need a bigger loan amount or a less interest rate it will pay to shop around.

I may need a unsecured loan bad credit oneday, it can be useful to do the research now to find the best value loan. You should seek advice from a qualified financial advisor.