Unsecured Loans: A Comprehensive Guide to No-Guarantor Loans
به گزارش پول نیوز، An unsecured loan, also known as a no-guarantor loan, is a type of loan where the borrower doesn’t need to involve anyone else in the loan application process. Many individuals seek loans every day, but when visiting a bank, they quickly realize that obtaining a loan comes with specific conditions and a complex process. One of the most important requirements is introducing a guarantor who can provide proof of income to the bank. However, many people do not have a reliable guarantor, which discourages them from pursuing bank loans.
In such cases, the option of an unsecured loan comes to the rescue. By visiting financial institutions, you can receive an unsecured loan without needing a guarantor, solving your liquidity issues. Unsecured loans come in various forms, with the most significant being secured by real estate or vehicle documents. Several companies offer instant, no-guarantor loans, including loans secured by real estate or vehicle documents, especially in major cities like Tehran and Karaj. This article defines unsecured loans, introduces different types, explains their advantages, and provides essential tips for obtaining them.
What is an Unsecured Loan with property deed?
As mentioned earlier, bank loans generally require a guarantor. However, if you do not have access to a guarantor, you can apply for an unsecured loan by offering real estate or vehicle documents as collateral to financial institutions. The document you provide acts as the guarantor in this case. Should you fail to repay the loan, the institution may auction your property to recover the loan amount along with any interest. Unsecured loans are also considered “instant” loans, as the process is fast and straightforward, with minimal administrative steps. For instance, you can receive a loan secured by real estate through دیوان گروپ, simply by presenting your property documents.
Types of Unsecured Loans
There are several types of unsecured loans, which include:
- Unsecured loan with real estate as collateral
- Unsecured loan with vehicle documents as collateral
- Unsecured loan with promissory notes
- Unsecured loan with gold as collateral
- Unsecured loan with SIM card (Mobile Operator) as collateral
Let’s go through each of these in detail to better understand how they work.
Loan with Real Estate as Collateral
One of the best ways to get an unsecured loan is by using real estate documents. If you have a property where the deed is fully in your name, you can receive a loan equivalent to 50% to 70% of your property’s total value. The deed will remain with the lending institution until you repay the loan in full. The two main benefits of this loan are: first, you don’t need a guarantor, and second, the loan is disbursed immediately without the need to go through lengthy bureaucratic processes.
Loan with Vehicle Documents as Collateral
If you own a vehicle, you can use its documents as collateral to obtain an unsecured loan. In this case, the vehicle’s registration acts as your guarantor, and you won’t need to provide a separate guarantor. Your vehicle’s documents remain with the financial institution until the loan is fully repaid. One positive aspect of this loan is that you can still use your vehicle while repaying the loan. The maximum loan amount for this type of loan is around 500 million IRR.
Loan with Promissory Notes
Another popular option for obtaining an unsecured loan is using promissory notes. Many people do not have access to checks or are not eligible for a checkbook. In such cases, promissory notes provide an excellent alternative for individuals who need a quick loan. Unlike checks, promissory notes are easily accessible. However, it is important to note that for a promissory note to be valid, it must be co-signed by a third party as a guarantor.
Benefits of Unsecured Loans
Now that you are familiar with the various types of unsecured loans, let’s discuss the benefits of opting for an unsecured loan:
- No need to introduce a guarantor
- Immediate loan disbursement in the shortest possible time
- Flexible repayment terms and installment amounts set by the borrower
- Minimal administrative processes
Important Considerations for Obtaining an Unsecured Loan
When deciding to apply for an unsecured loan, it is crucial to keep a few things in mind. Here are some important tips:
- Clearly define the purpose of the loan
- Carefully read and understand the loan terms and conditions
- Evaluate your ability to repay the loan installments
- Thoroughly review the loan agreement before signing
Conclusion
This guide explored the details of unsecured loans. We began by defining what an unsecured loan is and introduced its various types, such as those secured by real estate, vehicles, promissory notes, and other assets. We also highlighted the key benefits of unsecured loans, such as the quick disbursement process and the elimination of the need for a guarantor. Finally, we provided essential tips for anyone considering applying for such loans.
If you are considering obtaining a loan, your choice will depend on your specific circumstances. Be sure to familiarize yourself with the different types of loans and carefully evaluate their terms. For more detailed information on unsecured loans, you can contact divan group, where their expert advisors are ready to help answer your questions. Additionally, for fast loan approval in cities like Tehran and Karaj, you can easily apply through this trusted group.
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