Tenant Loans: Boon for Tenants

By: Adam Jaylin

Unsecured tenant loans are meant for those who don't have their personal property to seek a loan amount. For procuring a tenant loan you need not have to put your property as collateral and hence this loan is suitable for the tenants and the paying guests.

The repayment term of a tenant loan varies from 1 to 10 years and the loan amount varies from ?500 to ?25000. The loan amount depends upon various factors like credit history of the borrower, monthly income, repayment ability etc. If your credit history is less than perfect, then also you may avail an unsecured loan on a higher APR (Annual Percentage Rate).

The tenant loans can be sought for meeting varied needs like paying your bills, consolidating your debts, going for a vacation, wedding purposes etc. For availing a Tenant Loan you should fulfil certain loan criteria. Firstly, you should have a full time job with a regular source of income. Secondly, you should have attained an age of 18 years to be eligible for procuring this loan type.

It is advisable to opt for tenant loans through the online method. The online method is better as it consumes less time and is hassle free. For availing an unsecured loan, you need to fill up an online application form mentioning details like your contact details and the type of loan which you would like to avail. Once you fill up the loan application form the lenders can contact you with a suitable loan quote.

No doubt, it is certainly a boon for those who can't afford to pledge any property as collateral.

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