What is a loan without security?
An unsecured loan is a loan that doesn’t require any type of collateral. Instead of relying on a borrower’s assets as security,
lenders approve unsecured loans based on a borrower’s creditworthiness. Examples of unsecured loans include personal loans, student loans, and credit cards.
How To Get A Loan Without Security In Uganda
How long does it take to get approved for an unsecured loan?
Getting approved for a personal loan generally takes anywhere from one day to one week. As we mentioned above,
how long it takes for a personal loan to go through depends on several factors, like your credit score. However, one of the primary factors that will affect your approval time is where you get your loan from.
How much will banks loan unsecured?
Customers can get a maximum loan amount up to 2.5 times their monthly salary with minimal processing time.
How is the repayment to be made?
Personal Loans are short to medium term (12 to 60 months) loans with a flexible repayment structure. You will typically repay the loan in equated monthly instalments.
You can adjust your repayment tenure to make your EMIs pocket-friendly. HDFC Bank offers loans with EMIs starting at Rs 2,149 per lac. Check the Personal Loan EMI Calculator to plan your repayment better.