All About Unsecure Loan

Business loan & Personal loans are usually “Unsecured Loans”, which means they are offered without any collateral in return. Such loans are mainly based on the credit history of the customer who hasn’t defaulted on his/her credit card payments. An Unsecured Loans is usually of a smaller amount than a mortgage and used for personal purposes, instead of commercial/business needs. It includes loans for reasons like going on vacation, wedding, buying of new furniture and various other needs that arise for an individual. A short-tenure loan, the repayment period are usually of the time period of 1-5 years. Requires the least bit of paper-work and is usually approved within 48 hours of application submission. Additional to the processing fee, charges for late payment penalty, pre-payment fee, administration charges and cheque bounce charges are also included in the Unsecured Loans.

Unsecure Loan Details

Find Unsecured Loans details of Amount Funded, Interest Rate, Prepayment charges, Processing Fee, Tenure, etc.,

  • Unsecured Loans Funded
  • 2 lacs to 40 Lacs
  • Loan against property Tenure
  • 1 year to 5 years
  • Guarantor requirement
  • Not required
  • Interest Rate (Monthly Reducing Balance)
  • 14% to 22%
  • Processing Fees
  • 2% to 3% of Loan Amt
  • Prepayment charges
  • 0% to 4% on outstanding loan amount
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Email*
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Date of Birth(dd/mm/yyyy)
Address
City
State
Required Loan Amount
Salaried
 

List of Unsecure Loan Documents Required

If you are looking for a Home Loan from a bank in India, you would require the following Home Loan Documents to process your Home loan application.

List of Unsecure Loan Documents Checklist for Salaried Person

  • Photo Identity Proof
  • Residence Address Proof
  • Bank Statement: Latest 1 year statement where your salary is getting credited
  • Property Documents: Property documents to be submitted based on the purchase of your dream home.
  • Job Continuity Proof:
  • Income Proof: Latest 6 months Salary Slips and Last 2 Year Form 16.
  • Photo Identity Proof
  • Copy of agreement executed / Sales Deed.
  • Share Certificate.
  • Latest Maintenance Bill.
  • List of documents & sanction letter given by Existing Banker (If Applicable).
  • Advance Processing Cheque required to process loan documents for sanction.
  • 2 passport size colour photograph
  • IF PROFESSIONAL: Please submit your Professional Degree Certificate.
  • IF EXISTING LOANS: If any existing loan, please submit sanction letter, Payment Track Record.

List of Unsecure Loan Documents Checklist for Self Employed Business Person

  • Photo Identity Proof
  • Residence Address Proof
  • Bank Statement: Latest 1 year statement where your salary is getting credited
  • Property Documents: Property documents to be submitted based on the purchase of your dream home.
  • Office Address Proof
  • IF PROFESSIONAL: Please submit your Professional Degree Certificate.
  • Business Existence Proof
  • Copy of agreement executed / Sales Deed.
  • Share Certificate.
  • Latest Maintenance Bill.
  • List of documents & sanction letter given by Existing Banker (If Applicable).
  • Advance Processing Cheque required to process loan documents for sanction.
  • IF EXISTING LOANS: If any existing loan, please submit sanction letter, Payment Track Record.
  • Income Proof: Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
  • 2 passport size colour photograph

How is the maximum EMI decided?

What is the difference between reducing and flat interest rate?

How is my Unsecured Loans approved?

How does my credit history matter?

Is there any extra charge payable when applying for Unsecured Loans?

Can I pay my Unsecured Loans along with my spouse?

What is relationship discount?

How to repay the Unsecured Loans?

How is loan against credit card different from Unsecured Loans?

What are the benefits of having a Current/Saving Account for my Business loan?

How much loan can I avail of Business Loan?

What security do I need to provide to obtain a Business loan?

What are the loan tenure options for Business Loan?