Posted on | November 15, 2010 | 4 Comments
Are you looking for a personal signature loan? Then you have to think instant personal loans. What you see is what you get in this type of loan. Because most of the companies that offer this is online, the application process is a breeze and you may already get a result after a few hours. Most lenders offer installment loans with no credit check.
You may need to provide several information such as the reason for applying for the loan, repayment duration, your employment and residential address. To ensure approval, all the details should match.
Unsecured personal loans are made available for people without collateral available. A relatively lesser amount is granted usually ranging from $1,000 to $25,000. The repayment method is shorter which could range from six months to 15 years. It has a higher interest rate compared to its secured counterpart.
Secured personal loans are ideal for people who have collateral available like a house or any other property of value. A bigger amount is granted usually ranging from $5,000 to $75,000. The repayment method is longer which could range from 5 to 30 years. It has lower interest rate.
Financing for a wedding, home improvement, a holiday vacation, buying a car and consolidating debt are just some of the things that you can do with a personal loan.
If you have had history of late payment, arrears, payment defaults and CCJs and bad overall credit, you still don’t have to be disheartened because of the presence of online lending. It will not only be convenient but speedy as well. You should also exploit the ongoing competition among lenders as they are likely to offer rates than the others. You just have to be persistent in looking out for the best deal.
Lenders provide rate quotes for the instant personal loans they offer and it’s best to apply for these as they could suit you best. Favor deals that have fewer charges.