This type of lending, which is not secured by a security or a guarantee, has a number of characteristics. They should know the person who plans to apply for money in debt. Without any security, you can easily take out a consumer loan only to spend the amount you buy on a particular type of product. There is also an express loan that does not imply collateral. In order to get a loan from the bank on optimal terms favorable to the client, it is necessary to leave the security, for example, to present an insurance policy or to pass to the employees a certificate confirming the existence of stable earnings.
Sometimes, a loan without collateral is issued if the client is able to leave a fixed telephone number (work, home) so that bank employees always have the opportunity to contact the debtor. In some cases, they are asked to provide information about multiple contact points (eg family members or work colleagues). They can be called by the bank’s employees if they do not contact the client who issued the loan without collateral. If you have the ability to provide help with a job to prove a high enough level of solvency, or get insurance, then your chances of providing a service will increase significantly.
The promptness of providing such a loan product is quite high, since the employees need only examine the applicant and his documents. If it is a guarantee, then there is a need for detailed consideration of a third party or a list of legal documents for the object that was laid. In most cases, it takes 1-3 days to make a decision. In addition, you need to spend some time to complete the agreement by all rules. So, if you need money urgently, you should use this service.
Many modern banks offer their customers the opportunity to complete and submit their application in real time through the official website of the organization. The remote method of treatment allows to find out quite quickly what the chances of the client to approve the application. This saves time, because if you refuse, you can always go to another company and try their luck there.