What is Unsecured loan?
Unsecured Loan is a loan in which you do not need to provide any type of collateral. It can be referred to as a signature loan or personal loan. In now a days people can apply for the loan through online loan app in just a click.
Steps to avail the unsecured loan:-
1. Check your eligibility for unsecured loan:- Candidate Should be Indian Resident, Candidate should have 700 and above credit score,Candidate should be between age of 23 to 55 years, Candidate working status and Candidate working as a salaried employee at private or public company.
2. Apply through App:- You need to apply through a mobile app for getting unsecured or personal loan. You can get an application approved within 24 hours after documentation verification. Loan amounts usually take upto 2 to 3 working days after approval.
3. Produce the Required Documents:- You should have the proper documents to avail the loan. Proof of identity, Bank statement of last 6 months ITR receipt, Proof of address and salary slip.
4. Loan Amount:- Candidate can avail the loan amount as per the eligibility and the criteria of the loan.
5. Interest Rates and EMI:- Be sure about the interest rates of the loan and for the EMI options. You can make EMI as per your loan amount and interest rate.
6. Maximum loan duration:- Duration for loan amount can be 1 to 5 or 12 to 60 months as per the loan amount.
