Process of Unsecured loans
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WHAT IS AN An unsecured loan type is a loan that is given to the borrower 
UNSECURED LOAN? based on his credit score, income level, trustworthiness. In unsecured loans, the borrower is not required to put any 
collateral with the lender, the loan is approved without the use 
of assets or property as collateral.
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PROS OF UNSECURED LOANS
 No collateral required
  Flexible options
 Property not under risk
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NO COLLATERAL 
REQUIRED:
Borrower is not required to put any collateral 
or surety with the lender. The loan is given 
based on other sources.
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Flexible options: Property not under risk: 
Unsecured loans can be used for The borrower doesn’t need to 
various purposes by the risk his property and the 
borrower but only for genuine property or asset is not seized 
ones. upon non-payment of the loan 
amount.
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CONS OF UNSECURED LOANS
High-interest rates Limited loan amount Should be employed
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HIGH-INTEREST RATES:
As unsecured loans are given based on trust, the risk of the 
borrower not paying the loan amount is more and that’s why 
the lender charges high-interest rates.
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LIMITED LOAN 
AMOUNT
The lender doesn’t provide large borrowings in unsecured loans. If the borrower is looking for 
substantial sum of money, then this loan type is not the solution.
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SHOULD BE EMPLOYED:
For the loan to get sanctioned, the borrower has to be 
employed as unsecured loans are given based on income 
level and employment status.
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THANK YOU
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