Sunday, December 5, 2010
What is a Personal Cash Loan?
Personal Cash Loan is credit that is granted to the borrower for personal use. These loans are usually unsecured (no security or collateral required/asked) and is based solely on the borrower's integrity and ability to pay.
Who is eligible for a personal loan?
The eligibility criteria and their specific details may differ from banks to bank based on their perception of the risks associated with given out personal loans. However, nearly all banks divide the potential borrowers into three categories:
• Salaried individuals • Self employed individuals • Self employed professionals
Other factors which are taken into consideration are, age, residence, work experience, repayment capacity, past obligations and place of work.
What kinds of interest rates are offered on personal loans?
Almost all Personal Cash Loans are offered in:
• Fixed rate
• Floating rate
• Flat rate
Of the three, flat rates turn out to be the most expensive since the other two are calculated on a reducing balance basis.
What is the average interest rate for personal loans?
The interest rate for a personal loan is decided on the basis of your credit repayment capability and history. Depending on this, interest rates could be anywhere between 14% and 25%, depending on the financial institution.
What documents are required for personal loans?
Personal loans require the least number of documents, making it the fastest to be approved. Typically, financial institutions would require proof of identity, residence, income and also 3 to 6 months of your bank statements. Some banks also require guarantors and the same set of their documents.
How is a personal loan repaid? Is prepayment of a loan possible?
Normally, personal loans are offered between 6 months to 5 years. The loan is repaid with Equal Monthly Instalments. Prepayment is possible but will generally carry a significant prepayment charge. Good Luck Find Your Loan! Hope These Little Tips Help...
Quick Personal Loan
Do You Have A Need For Quick Cash Personal Loan? Click Here
Read all about it below....
Unsecured short-term installment loans can assist you in paying your mortgage, auto loan, or any other unexpected bills that require additional funding. Unsecured short-term installment loans are not meant to become a recurring source of income but rather a tool to assist you when unforeseen events arise.
How much should you borrow is all up to you. Only borrow what you can repay. This is a good way to build your credit for those who did not have good credit. Many banks may also require collateral, depending again, on the amount borrowed. The smaller the loan, the less apt the lender or bank is to ask for collateral. The application process is a bit longer in that the bank will check the borrower’s credit to be sure the borrower has the ability to pay the loan back. In the case of a small business borrowing money, the lender will review cash flow history and in the case of an individual borrowing money, the lender may require paystubs. They may also look at a borrower’s personal credit score – or in the case of a business, business credit score – to determine whether to grant a short term loan. Banks will also offer short term loans for a lower annual percentage rate than a payday loan service.
Applying for cash loan is simple. There’s no nightmare paperwork to tackle, documents to fax or cheesy hold music to endure. Just make sure you have the following document ready. Here is the link Get Me Quick Cash
*Be 18 +
*State ID
* Source of steady income
-------------------------------------------------------------------------------------------------------------
* Up to $1500 deposited into your account overnight *
* Short, 2-minute signup form *
* Choose amounts of $500, $1000, or $1500 *
* Use cash for bills, shopping, or other purposes *
* Requires: SS#, income of at least $1000/month, and bank account for deposit
We usually provide you with an instant answer and, if approved, we send the cash to your bank within 15 minutes! That makes us the fastest and only 24/7 lender in the land
Hope you find this information useful.
Read all about it below....
Unsecured short-term installment loans can assist you in paying your mortgage, auto loan, or any other unexpected bills that require additional funding. Unsecured short-term installment loans are not meant to become a recurring source of income but rather a tool to assist you when unforeseen events arise.
How much should you borrow is all up to you. Only borrow what you can repay. This is a good way to build your credit for those who did not have good credit. Many banks may also require collateral, depending again, on the amount borrowed. The smaller the loan, the less apt the lender or bank is to ask for collateral. The application process is a bit longer in that the bank will check the borrower’s credit to be sure the borrower has the ability to pay the loan back. In the case of a small business borrowing money, the lender will review cash flow history and in the case of an individual borrowing money, the lender may require paystubs. They may also look at a borrower’s personal credit score – or in the case of a business, business credit score – to determine whether to grant a short term loan. Banks will also offer short term loans for a lower annual percentage rate than a payday loan service.
Applying for cash loan is simple. There’s no nightmare paperwork to tackle, documents to fax or cheesy hold music to endure. Just make sure you have the following document ready. Here is the link Get Me Quick Cash
*Be 18 +
*State ID
* Source of steady income
-------------------------------------------------------------------------------------------------------------
* Up to $1500 deposited into your account overnight *
* Short, 2-minute signup form *
* Choose amounts of $500, $1000, or $1500 *
* Use cash for bills, shopping, or other purposes *
* Requires: SS#, income of at least $1000/month, and bank account for deposit
We usually provide you with an instant answer and, if approved, we send the cash to your bank within 15 minutes! That makes us the fastest and only 24/7 lender in the land
Hope you find this information useful.
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