Good news for tenants! Now they can also access to loans market easily, as these days tenant loans are also available. For tenants, applying for a secured loan is not so easy. Since they do not possess any property thus they cannot use any thing as collateral against a secured loan. In such cases, tenant loan can be appropriate for them to finance their dreams.
As a sort of unsecured loans, tenant loans are available without any collateral. Thus a tenant easily can avail these loans. But the borrowers credit history and repayment capacity will be judged by the lender at the time of offering tenant loans.
But for availing a tenant loan, borrowers have to fulfill the following criteria:
Fulltime employment
A direct debt card acceptance facility should be attached with borrowers bank account.
Presence of identification and residential proof.
And contact number- mobile or landline.
With tenant loans, a borrower can borrow anything from 1,000 to 50,000 along with a flexible repayment period of 1 to 25 years. Here, the reader should be aware that due to the absence of security, lenders charge high...
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