Borrow money without having to guarantee your property? Sounds too good to be true, it must have been thought by all who have experienced the magic of home or mortgage lending once in a lifetime.
Most often, banks require a guarantee in such situations, ie when it comes to larger sums of money that are repaid over many years. This is to ensure that if the borrower is unable to pay his debts, and by selling the property, he will settle the accumulated debt.
Smaller sums of money, banks are less likely to seek collateral
A common insurance instrument is a life insurance policy. If the client requests a loan on the basis of the policy, the policy is still valid, ie it does not terminate. He can continue to make payments without any problems and later use them in the most normal way under the terms he has signed. Retirement loans can also be raised without guarantee because these are also the most affordable cash loans for retirees in Croatia!
Unlike banks, other credit and financial institutions do not seek a guarantee or pledge. This means that the client does not need to give an additional guarantee in the form of movable and / or immovable property in exchange for money. Especially when it comes to sums of money that do not exceed USD 6,000.
What are Non-Guaranteed Money Loans?
This type of lending does not require any additional engagement. The client does not need to pledge his real estate, cars and valuable artwork to come up with much needed money.
Non-Guaranteed cash loans allow you to cover minor unpredictable expenses as soon as possible, which includes repairing your home, car, or emergency breakdowns. Their advantage is that they are not intended for use by the client for any purpose.
Who Are The Most Common Customers of Non-Guaranteed Cash Loans?
They are characterized by smaller sums of money, which is why they are extremely popular with younger generations who are usually used to solving their problems quickly. In addition, unlike the older generations, they do not own real estate and a higher value that could serve as a guarantee.
Most often, loans without a guarantee are paid up to 6000 kuna, with a maximum repayment period of up to 150 days. Given the small sums of money, no certification from an employer or a notary public is required. Most often, this type of loan can be applied online, but for some time there has been an SMS application on the market.
Neither a co-debtor nor a guarantor is required for loans without guarantee
In addition to movable or immovable property, a guarantee can also be viewed as a certain type of security by using a co-debtor or guarantor. For a loan without a guarantee, the user does not need a co-debtor or guarantor. This is primarily because they are smaller sums of money, but this means that interest rates are a little higher than with loans that include a pledge.
Sufficient insurance, first and foremost for credit and financial institutions, is cash receipts or creditworthiness of the client. It is also important that the account is not protected or blocked.
Banks and other credit and financial institutions do not seek certification by the employer precisely because they are about less money.
This shortens the amount of time that elapses from submitting a claim to paying the money itself. This is especially important for those clients whose employer does not want to give insight into their business, and they need the money urgently.