Non-visit loan – micro loans are small personal loans that do not require the borrower to furnish any type of security or collateral. The beauty of this type of loan is that you do not have to go through the tedious process of securing a traditional unsecured loans. You will be provided with an amount and once you repay the 소액대출 amount you will be considered non-borrower for 60 days. This will make you eligible for any other unsecured loans in the future. However, you should repay the loan amount as early as possible to avoid penalty and interest charges.
The process of availing this loan can be done online. There are a number of online lenders available who will provide the application form. You can fill the details requested and submit it to them online. They will verify the information submitted and if they are successful in giving you the loan they will request for your original documents and return them along with duly signed approval of the application. The repayment process is same like the normal loans.
These types of loans are very popular because they are readily available and are not difficult to get. This is one type of unsecured loans where the rate of interest is relatively lower than the others. The reason for the low interest rates is because the lender does not have to bear the cost of providing security against the loan amount. The repayment term is generally long and helps borrowers to repay the loan amount timely.
There are some disadvantages of this loan. First, these loans are short-term and are available only till your next pay check. This leaves no room for build up of credit score. Second, the repayment of this loan needs to be done on time because by law the lender is bound to consider your progress after six months. Hence, if you delay in repaying your loan then you may suffer from late penalty. But with proper management, it can help you improve your credit history quickly.
Credit checks are important when applying for any kind of loan. Thus when you apply for this kind of loans, you should ensure that your credit history is good and your financial situation is stable. There is no credit check for this loan and lenders are not concerned about your past history of bankruptcy or arrears. But there are certain things that the lenders consider such as current address, work particulars, income, marital status etc.
With the advent of the Internet, you can avail these loans even from the comfort of your home. These loans are available online and can be processed within hours. So you do not need to keep visiting the lender every time you want to obtain a loan. It is always better to negotiate with the lenders and try to make the best out of the situation. Do not opt for any deal that is beyond your reach because lenders would charge high interest rate on the loan. So before seeking any loan, always plan and settle your finances so that it does not create problems in the future.