Guaranteed Unsecured Personal Loans –Fund for your Personal Needs
These are loans where the applicant is assured of getting the funds and the requirements placed by the lender are very easy to fulfill. You can use guaranteed unsecured personal loans for a number of needs like paying for some pending bills, home improvements and paying some education fees among others. These loans can also form the best solution for financial situations that require some urgent funding since the borrower is always assured of qualification.
Some features of guaranteed unsecured personal loans include:
Online application- most lenders who give out these unsecured loans offer their services online and this helps to speed up the rate at which the funds are processed. Online application is also very convenient since the borrower can apply for the funds from any place that has internet connection. One is only required to complete a simple form provided in the lender's website. If the applicant meets all the lender's requirements for these loans, the cash is directly transferred to his checking account.
No collateral- the lenders do not request the applicant to pledge collateral on the amount being borrowed. The lenders who give out guaranteed unsecured personal loans are therefore left in situations where they could easily lose the amount offered on these loans since they have no asset that they can seize to raise any amount lost if the applicant defaults such loans. However, the lenders try to keep these risks low by:
No credit check- most lenders who give out guaranteed unsecured personal loans do not look at the credit history of the individuals applying for these funds. They only ensure that the applicant is in a position to make full repayments for their loans by holding a job with a regular monthly income. This means that even people with low credit scores can also qualify for these loans and they can even raise their scores by making timely repayments for these loans.
Guaranteed unsecured personal loans can be a very good solution for people looking for urgent financial funding since the funds are processed in a very short period of application. However, the borrower should be very careful to make timely repayments as the loans have very stiff penalties. One should not form a habit of borrowing these loans for every financial need as they have very high costs of borrowing.
Some features of guaranteed unsecured personal loans include:
Online application- most lenders who give out these unsecured loans offer their services online and this helps to speed up the rate at which the funds are processed. Online application is also very convenient since the borrower can apply for the funds from any place that has internet connection. One is only required to complete a simple form provided in the lender's website. If the applicant meets all the lender's requirements for these loans, the cash is directly transferred to his checking account.
No collateral- the lenders do not request the applicant to pledge collateral on the amount being borrowed. The lenders who give out guaranteed unsecured personal loans are therefore left in situations where they could easily lose the amount offered on these loans since they have no asset that they can seize to raise any amount lost if the applicant defaults such loans. However, the lenders try to keep these risks low by:
- Allowing just some small amounts on these loans
- Giving out the funds under strict terms and very high interest rates
- Allowing the applicants very short durations to make full repayments
No credit check- most lenders who give out guaranteed unsecured personal loans do not look at the credit history of the individuals applying for these funds. They only ensure that the applicant is in a position to make full repayments for their loans by holding a job with a regular monthly income. This means that even people with low credit scores can also qualify for these loans and they can even raise their scores by making timely repayments for these loans.
Guaranteed unsecured personal loans can be a very good solution for people looking for urgent financial funding since the funds are processed in a very short period of application. However, the borrower should be very careful to make timely repayments as the loans have very stiff penalties. One should not form a habit of borrowing these loans for every financial need as they have very high costs of borrowing.
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