subject: Loans For Unemployed: Loans That Can Fulfill Your Dreams [print this page] Especially formulated for unemployed group of people the loan scheme loans for unemployed provide financial aid with or without pledging of collateral. The loan scheme can help a person to realize many of his ends such as buying a car, enjoy a holiday, renovation of house, paying of debts etc.
The benefits of unemployed loans are provided in both secured and unsecured form. An applicant can approve huge loan amount at nominal rate of interest by applying for secured unemployed loans. The collateral that lenders usually accept are land, car, house, jewellery, valuable documents etc. The loan amount of secured loan is ranges from 10,000 to 3,00,00 with a reimbursement term of 10-25 years. So, in a sense persons who own property can only apply for unemployed secured loan.
Unsecured unemployed loans are collateral free loans and are meant for unemployed persons who are reluctant or unable to pledge as collateral. The loan amount of this loan starts from 1,000-50,000 with a repayment term of 1-10 years. Unsecured loans for unemployed carry a slightly higher rate of interest in comparison to secured loan. However, the best way to find a lender offering reasonable rate of interest is by contrasting the loan quotes provided.
The benefits of unemployed loans are also meant for persons having poor or no credit history. If an applicant carries a poor credit history then he/she should provide all the details while applying for the loan so that it creates an impression of good will in front of the lender and the latter instantly approve the loan.
With the constant flow of loan lenders and the competitive market it is not a tedious task to find a reliable lender offering lower rate of interest. You can easily find a lender if you scour online.
So, loans for unemployed make it feasible for unemployed persons to realise their dream in an easy and simple way.
by: Amik Kery
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