Un-secured Loans

Unsecured loans are based purely on the creditworthiness of the borrower.

In this the bank and NBFC’s gives the loan without taking any collateral security from the borrower.

For giving this loan banks and NBFC’s give very high importance to the credit history of the borrower. They refer the CIBIL or any other similar reports to check the financial habits of the borrower.

The Loan which fall under this category are as follows

• Business Loan
• Personal Loan