subject: Low interest unsecured Personal Loans – Credit without Security [print this page] Low interest unsecured Personal Loans Credit without Security
Loans are an important source of credit as they are sources of funds at the time of financial need. Low interest unsecured Personal loans can be very difficult to get if you do not have any property or assets to place as security against the loan taken. To avail this credit the borrower does not have to place any kind of collateral.
Unsecured loans provide you with funds without having security against the loan. The borrowing amount ranges from 1000-25000 and the repayment time period is of 1-10 years. These loans do not require any collateral, so its risks free to apply for such funds. Bad credit holders who are suffering from defaults, arrears, defaults, CCJ's, IVA's, bankruptcy and deferred payments can also avail these loans but will be charged a higher rate of interest.
The interest rates of these credits are at the higher side as compared to secured type because the lenders are at risk as they have no security as collateral against the loan taken. There are many lenders who offer low interest unsecured loan in the market, so a good search needs to be to avail good rates and the best one should be applied. These funds can be obtained with low interest by applying online as it is a very fast, easy and a convenient process.
The borrower has to fulfill the following eligibility criteria for approval of this credit:
The borrower should be a citizen of U.K
The borrower should be above 18 years of age.
The borrower should be employed with a reputed company.
The borrower should have regular income.
The borrower must have an active bank account.
Online lenders provide you with many quotes so a proper research needs to be done before application of such funds. To get lower interest rates and avoid extra charges, these funds should be paid off as early as possible otherwise it will lead to penalties and extra charges. The most preferred option to avail these funds cheaply is by applying online. Online method is very convenient as only a single form needs to be filled and if the form gets approved, the money is directly transferred in to the borrower's salaried account.
