What does unsecured personal loan mean?
Unsecured and unsecured loan means that it can be obtained only by personal credit without mortgage and guarantee, and requires the borrower to have good credit, stable work and repayment ability.
To apply for an unsecured loan, generally speaking, the amount you can apply for is 5- 10 times the borrower's salary. If you have large assets, the amount will increase to about 15-20 times.
Unsecured and unsecured loans can be obtained without collateral, so the loan interest rate will be higher. The average interest rate of unsecured and unsecured loans launched by some banks is around 10%, and the interest rate of unsecured and unsecured loans of small loan companies will be slightly higher. The repayment period of unsecured and unsecured loans is relatively flexible, and the loan period is generally 3 months to 5 years. Applicants can choose freely according to their own financial situation.
Conditions for handling personal unsecured small loans
Treatment conditions:
1. The borrower is between 18-55 years old and has full capacity for civil conduct (the age regulations of lending institutions are slightly different, which shall prevail);
2. There are legal and stable sources of income, and it is generally required to work in the current work unit for half a year;
3. Be able to provide a bank punch card certificate for about half a year;
4. Being an on-the-job employee of the company (lending institutions generally do not accept applications from employees who have left their posts);
5. The borrower has good credit.
Processing flow:
1. The borrower shall submit written loan application materials, including ID card, household registration book, personal income certificate and other relevant application materials required by the bank.
2. Banks should review and investigate the application materials submitted.
3. After examination and investigation by the bank, the borrower and the borrower sign a loan contract.
4. When making a bank loan, the applicant uses the loan.
5. The borrower repays the loan on schedule according to the agreement in this contract.
6. Loan settlement
The above is the answer to what unsecured personal loan means, and I hope it will help everyone.