A loan is a type of debt that entails the redistribution of financial assets over time, between the lender and the borrower. The borrower initially receives an amount of money from the lender, which he has then to pay back to the lender, usually in regular installments. Usually this service is generally provided at a cost, referred to as interest on the debt. The specific legal definition of a loan is that of a contractual promise between two parties where one party, the creditor, agrees to provide a sum of money to a debtor, who promises to return the money to the creditor either in one sum or in parts over a fixed period in time. This agreement may include providing additional payments of rental charges on the funds advanced to the debtor for the time the funds are in the hands of the debtor, usually defined as interests. There are two main types of loans: secured and unsecured loans. A secured loan is typically a loan in which the borrower pledges some asset like propery or car, for example, as collateral for the loan. Unsecured loans are monetary loans that are not secured against the borrower's assets and may be available from financial institutions under many different forms like credit card debts, personal loans or bank overdrafts.