An unsecured loan
and you don’t
have to offer
any security,
as with a car
loan or a home
loan, where the
underlying asset
is mortgaged with
the bank. Normally,
the bank does
not ask for guarantors
either.
More
advantages:
minimum documentation
and speedy clearance
(within three
to seven days
of applying).
And there is
no monitoring
of ‘end
use’ --
you can use
the loan for
any purpose
you like.
