How to Get A Loan Without Security – Instant Personal Loan AppPosted by Ankit Verma on June 2nd, 2021 A loan is an indispensable part of everyday life, required for meeting various financial exigencies, be it personal or professional financial needs. Loans available are categorized in to secured and unsecured loans. Secured loans are loans provided on the basis of some security as collateral. An unsecured loan is a collateral-free loan that is approved after verifying set eligibility criteria. To be eligible for a loan without security, the borrower’s creditworthiness and income should be stable to repay EMIs in a timely manner. A personal loan is a popular unsecured loan granted for various purposes such as education fees, medical bills, marriage expenses, business capital, etc. Factors Contributing to Personal Loan without Security? Personal loans can be easily applied online, but approval depends on the eligibility criteria set by different lenders. Unsecured loans are collateral-free and entail a higher rate of interest as compared to secured loans. The common factors helping in personal loan without security are stated below: Creditworthiness Income SimplyCash, powered by HeroFinCorp, is one such user-friendly online personal loan app approving personal loans without security/guarantor. The maximum loan amount available is Rs.1,50,000. On approval, it gets directly credited to your bank account, within one business day. What are the Eligibility Criteria for Simply Cash Personal Loan? A salaried individual or self-employed can easily apply for a personal loan on Simply Cash where no physical documentation is required. However, a borrower has to meet the below eligibility criteria for availing personal loan without security:
Mandatory documents required
Applying for Personal Loan without Security via SimplyCash In just a few clicks, you can get a collateral-free personal loan from the Simply Cash app directly credited to your bank account:
Now borrowers who want a loan without security can easily apply on the SimplyCash app and get instant personal loans without mortgaging any assets/property. Like it? Share it!More by this author |