Till date it has been the collateral that was the prime concern for borrowers. If you are a borrower and you needed a loan then the first concern would be the an asset to pledge as security for a loan. Most people do not have assets and others, may have assets and are not willing to pledge them. However, today, you no longer have-to-have an asset to pledge to avail a loan. Several banks and NBFCs are willing to offer like Business Loan Bajaj Finserv without a collateral, with highly flexible option. However, keep in mind, the interest rate charged on collateral-free loans would be higher than loans with collateral. Every lending institute would have a cap on the amount you can borrow without a collateral but you can rest assured knowing that the sums are large enough to cover travels, education and even purchase of homes, if your home loan is falling short. Like any other loan there are some prerequisites such as eligibility criteria, relevant documents and your creditworthiness which is calculated by the CIBIL Score. So, now you know that collateral free loans are here, but how would you avail it is the next question. If you are interested in knowing more about the process and procedures for availing this loan, click on the link provided:
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |