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collateral free loan

Collateral Free Loan

Loans are typically of two types. Large loans that require collaterals to be availed or smaller loans required to tide over a particular situation that does not require collateral. So, what is collateral? An asset of high and measurable value, against which a loan can be taken is known as collateral. Real estate, stocks, vehicles, machinery, insurance, etc. can be guaranteed when availing a loan from a financial institution. However, failure to repay the loan would mean that the borrower has to forgo the asset permanently. The asset is then liquidated by the lender to recover the outstanding loan amount. A collateral-free loan is an unsecured personal loan that does not require the borrower to pledge an asset against the loan. This collateral-free loan can be availed for multiple purposes including travel, wedding, and also medical emergencies.

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Collateral Free Loan features

2476 people have applied for loan in the last 24 hour

5/5

5000 people have rated this loan as the best product

Get Rewards

Timely EMI payments makes you eligible for a cashback of upto Rs. 200 per month. At Finnable we are the first in the industry to reward you to pay on time and improve your credit score.

Get loans quickly

Apply for a personal loan in a few clicks by submitting only a few basic documents and get the loan money transferred in your account as quickly as 2 hours. The entire process is 100% digital.

High Loan Amount

Apply for personal loans with minimum documentation and get high loan amounts of upto Rs.10 Lakhs. The loan tenure can be anywhere between 6 and 60 months.

Personal loan Assistant

Please write to your personal loan assistant at makeiteasy@finnable.com for any support. We aim to provide you a seamless and hassle-free experience.

Get Rewards

Timely EMI payments makes you eligible for a cashback of upto Rs. 200 per month. At Finnable we are the first in the industry to reward you to pay on timwe and improve your credit score.

Get loans quickly

Apply for a personal loan in a few clicks by submitting only a few basic documents and get the loan money transferred in your account as quickly as 2 hours. The entire process is 100% digital.

High Loan Amount

Apply for personal loans with minimum documentation and get high loan amounts of up to Rs.10 Lakhs. The loan tenure can be anywhere between 6 and 60 months.

Personal loan Assistant

Please write to your personal loan assistant at makeiteasy@finnable.com for any support. We aim to provide you a seamless and hassle-free experience.

2476 people have applied for loan in the last 24 hour

5/5

Over 5000 customers have rated us 5 stars in Play store

Personal loans can be used for multiple purposes- to fulfil your desires or meet urgent financial needs. This is why we bring you a range of products to suit your needs and desires.

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Collateral Free Loan FAQs

An unsecured personal loan that does not require any asset as collateral is known as a collateral-free loan.

Borrowers will need to submit their PAN card, Aadhar card, salary slip, and bank statement to avail a collateral-free personal loan.

A collateral-free loan can be used for various purposes including travel, weddings, home renovation, and also for medical emergencies.

Finnable provides loans without collateral with flexible loan tenures and affordable interest rates. The loan amount is disbursed within 6 hours of document verification.

The process of applying for a collateral-free loan through Finnable is quick and easy. 

Step 1: You can apply for a collateral-free personal loan either on Finnable’s website or app. 

Step 2: Register yourself and add the required personal and professional details to complete your profile.

Step 3: Upload the required KYC documents.

Step 4: Choose the type of personal loan.

Step 5: Enter the loan amount and the tenure.

On verification of documents, your collateral-free loan will be disbursed within 6 hours.

One of the biggest advantages of a collateral-free loan is that the borrower does not need to pledge any security against the loan amount. Further, the tenure of the loan without collateral can be from 12 to 60 months with easy repayment options.

  • Must be currently employed in a private or a public limited company
  • Must have more than 3 months of experience in the current organization and have a total work experience of more than 6 months
  • The monthly salary should be more than Rs 25,000
  • Salary should be credited to a bank account