Unsecured Loans: No Guarantee, Quick Approval, High Flexibility
Business
M
Moneycontrol•22-01-2026, 12:52
Unsecured Loans: No Guarantee, Quick Approval, High Flexibility
- •Unsecured loans do not require collateral like property or gold, relying instead on your creditworthiness.
- •Eligibility typically includes age (21-60), employment status, minimum income (₹15,000-₹25,000), and a credit score of 700+.
- •Types include Personal Loans, Card Loans, Business Loans, and some Education Loans, offering flexibility for various needs.
- •Benefits include instant approval, less documentation, flexible usage, and no risk of losing assets.
- •Interest rates are generally higher due to increased risk for lenders, but Moneycontrol offers loans up to ₹50 lakh starting at 10.5% per annum with a paperless process.
Why It Matters: Unsecured loans offer quick, flexible financing without collateral, ideal for diverse needs despite higher interest rates.
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