Personal Loans without Security
Life is very uncertain and a need for extra cash or funds can come up at any time. When in such circumstances, an individual would look at the easiest way to meet his/her need for money. And, availing a loan may be the preferred way out many a time. However, many loans like a home loan or vehicle loans require collateral or security for availing a loan.
Can I get a Loan without Security?
Yes, among the various different kinds of loans available, a personal loan is the only loan that is available without any kind of security or collateral to avail of the loan. In addition, personal loans are easy to avail and are low on documentation.
Security for a Loan
Security or Collateral for a loan could be an asset that has a financial value which is provided as a surety for the loan availed. Security for a loan could be demanded in the following circumstances
- When the loan availed is a big-ticket loan like home loans or business loans
- When the lender is not convinced of the repayment capacity of the applicant
- When the applicant has a low credit score
Where can I get a Personal Loan without Security?
Personal loans without security can be availed from online lenders or from traditional lenders like banks or non-banking financial institutions. But, many of the traditional lenders have strict criteria for approving a loan, like the requirement of a particular credit score, income, and employment conditions, etc.
On the other hand, Money View, an online lender lends you personal loans that can be availed without providing any security. We don’t even need any other person to stand as a guarantor to your loan.
Other Benefits of Money View Personal Loan without Security
Other than being a no security personal loan, Money View loans bring in many other benefits that makes it the ideal personal loan to avail for all reasons.
- Quick Eligibility Check:
You can easily check your eligibility for a personal loan in a matter of 2 minutes on our app or on the website.
- Digital Process:
Money View offers an entirely digital loan application process with no paperwork involved at all for the borrowers. This not only makes the process fast but also impressively convenient.
- Choosing the Amount and Repayment Term:
You can choose any amount from Rs.10,000 to Rs.5,00,000 depending on your credit score. To repay the loan, you can choose a period of up to 5 years.
- Fast Disbursement:
Once your loan application gets approved, your loan amount is disbursed within 2 business hours.
Apart from the digital process where you upload the documents and review the loan agreement using your smartphone, the experience is also simplified through the EMI auto-debit facility. Now you don’t have to constantly remind yourself to pay your EMIs by their due date.
- No Security Needed:
To apply for a personal loan through Money View, you don’t have to pledge any asset or arrange for a guarantor. All you need to do is meet the loan eligibility criteria as specified by Money View and apply for the loan.
- Reasonable Rate of Interest:
Personal loans applied through Money View are extended with interest rates starting at just 1.33% per month.
- Anywhere in India:
Digital application implies that you can apply for a personal loan from anywhere in the country and get it approved within hours.