Which financial option is referred to as 'types of loans'?

The term 'types of loans' specifically refers to financial products that involve borrowing a certain amount of money with the intention of paying it back over time, usually with interest. Personal loans fit this definition as they are directly structured as loans that provide individuals with a lump sum of money that must be repaid in installments over a predefined period. This makes personal loans distinct in that they are typically unsecured, meaning they do not require collateral, and they are designed for a variety of personal expenses such as debt consolidation, home improvements, or medical expenses.

In contrast, credit cards, while related to borrowing, are revolving credit rather than fixed loans; you borrow against a credit limit and repay in varying amounts over time. Mortgages are a specific type of loan used to purchase real estate, but they are distinct from personal loans due to their secured nature against the property. Operating leases are more akin to rental agreements for equipment or property rather than loans, since they do not involve borrowing cash to pay back later. Thus, personal loans represent the clearest example of 'types of loans' in the context given.