An unsecured loan is taken by people from a bank or other financial institutions. These lenders provide the loan on the basis of steady income, stable credit and employment history, repayment capacity, etc. Unlike a home or car loan, personal loans do not require any asset as security as they are unsecured. Since the lenders are at risk because of no collateral, the interest rates are generally high.
One can use a personal loan for funding any of their financial concerns. So, one can utilize their cash for end number of reasons.
Features of Personal loan:
-> Personal loan has a short tenure. Most banks provide personal loans for a minimum period of 1 year (12 months) to a maximum of 5 years (60 months).
-> Personal loans generally have fixed interest rates.
-> The amount to be taken as a personal loan ranges from Rs. 50,000 to Rs. 15 Lakhs and depends on a person’s credit rating.
-> Application for a personal loan requires one to have minimal documentation, and the approval is pretty quick.
-> The documents required for personal loan to get a personal loan are proof of identity, residence proof, income proof / Income Tax Returns.
How violetcash helps you to get a personal loan?
Violetcash is a one-stop solution to such loan seekers.
Violetcash provides a platform for personal loan seekers. On violetcash, people can request the amount they wish to borrow (however the amount must range between 200$-5000$). Violetcash does not provide loans directly but it connects the borrower to a lender.
There are lenders who are willing to give personal loans to people in need. Thus, the violetcash platform links loan seekers and lenders. Apart from this, violetcash has a lot of other advantages over other platforms. Violetcash loan procedure is pretty simple and has 3 steps:
- User needs to enter some details of theirs in the request form.
- After you get the answer, you can consider and review the offer.
- The borrower will receive the money in their bank account.
- It is a very safe platform and it keeps the user’s data very private and safe.
- Violetcash is a very easy platform to use and one can get personal loans easily.
- It is very fast. The borrower can send a request as quick as 5 minutes.
With such advantages and ease, violetcash is a one-stop destination for all the personal loan seekers.
So, stop looking any further for the right lender. Apply now and enjoy your quick fund.