Process of Unsecured loans - PowerPoint PPT Presentation

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Process of Unsecured loans

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Unsecured loans no credit check is the type of loan where the lenders do not check for any credit score. As the loan does not require any collateral and there is no credit check, the borrower can get the loan easily. – PowerPoint PPT presentation

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Updated: 9 October 2019
Slides: 11
Provided by: shanerobert
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Title: Process of Unsecured loans


1
https//www.fleetquid.co.uk/
2
What is an unsecured loan?
  • An unsecured loan type is a loan that is given to
    the borrower based on his credit score, income
    level, trustworthiness. In unsecured loans, the
    borrower is not required to put any collateral
    with the lender, the loan is approved without the
    use of assets or property as collateral.

https//www.fleetquid.co.uk/
3
Pros of Unsecured loans
  • No collateral required
  • Flexible options
  • Property not under risk

https//www.fleetquid.co.uk/
4
No collateral required
  • Borrower is not required to put any collateral or
    surety with the lender. The loan is given based
    on other sources.

https//www.fleetquid.co.uk/
5
https//www.fleetquid.co.uk/
6
Cons of Unsecured loans
https//www.fleetquid.co.uk/
7
High-interest rates
  • As unsecured loans are given based on trust, the
    risk of the borrower not paying the loan amount
    is more and thats why the lender charges
    high-interest rates.

https//www.fleetquid.co.uk/
8
Limited loan amount
  • The lender doesnt provide large borrowings in
    unsecured loans. If the borrower is looking for
    substantial sum of money, then this loan type is
    not the solution.

https//www.fleetquid.co.uk/
9
Should be employed
  • For the loan to get sanctioned, the borrower has
    to be employed as unsecured loans are given based
    on income level and employment status.

https//www.fleetquid.co.uk/
10
Thank You
https//www.fleetquid.co.uk/
info_at_fleetquid.co.uk
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