Seeking Loans Without Collateral Or Guarantors

Posted by on Sep 19, 2012 in Uncategorized | 0 comments

Are you looking for loans without collateral or guarantors? While in earlier times such loans could not be thought of, nowadays such loans are on the rise. These are more popularly known as personal loans. The difference between a personal loan and loans of other categories like housing loan or car loan is that, the other loans are of a specific category and cannot be utilized for any purpose by the user. The availability of pikalainaa ilman puhelinta is not a problem for any person. Collaterals or guarantors are usually required in case of secure loans. These have lower interest rates but have higher processing time.

Nowadays most people are in want of instant loans without collateral or guarantors. So how are such loans processed? Usually, such loans are of a specific range and the eligibility criterion is decided upon by looking at the income of an individual. That in turn determines one’s eligibility as well as repayment capacity. Once the amount of loan is decided upon, the interest is clubbed to the principal amount and EMI or easy monthly installment amounts are decided. As per an individual’s earning capacity as proven by the submission of salary payslips, he or she is then liable to repay the amount through the EMIs within the repayment period decided.

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