A personal loan is an unsecured loan with no collateral or property used as security and is typically deposited in one lump sum into your account and paid in installments. A mortgage or property loan is a long-term loan of up to 30 years, and a personal loan typically is repaid in one to seven years. A personal property loan is also a loan secured against an immovable asset like a traditional home, and hence the borrower can secure a more significant loan amount.