Loan product
Unsecured Loans
Credit without pledging collateral — approved on your credit score, income and financial history.
Unsecured Loans estimate
IndicativeMonthly instalment
₹54,653
₹6,23,342 of interest over 4 years
An unsecured loan is a type of credit that does not require you to pledge any collateral or assets (like a house, car, or gold) to borrow money. Approval is based entirely on your credit score, income, and financial history. Common examples include credit cards, personal loans, Business Loans.
How Unsecured Loan Works
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No Asset Risk: Lenders cannot automatically seize your personal property if you fail to pay.
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Higher Rates: Because the lender takes a higher risk, these loans usually feature higher interest rates than secured loans.
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Strict Requirements: You generally need a strong credit score and stable income to qualify for favorable terms.
Pros and Cons
Pros
Fast approval times, no risk to personal property, and flexible usage for nearly any expense.
Cons
Higher interest rates, potential damage to your credit score for missed payments, and possible legal action or wage garnishment if you default
Have a question about Unsecured Loans?
No two cases are the same, especially when collateral involves legal considerations. Talk to us directly, and we’ll help you understand your position.