Loans without collateral and without guarantee from Loan and Credit are intended for all ordinary citizens or even for self-employed persons. Those interested in money can borrow from this bank the amount of 30000 to 500000 USD.
Terms and parameters of the loan from Loan and Credit
The specific amount of the loan depends on the proof of the ability to repay (ie it depends mainly on the amount of your income, which the bank will assess to determine the maximum amount of the loan).
The basic interest rate for this loan without collateral to Loan and Credit is set at 8%. Upon successful approval of your application, Loan and Credit automatically deducts a fee of 1% of the loan amount (at least USD 400).
Other fees associated with the loan without collateral to Loan and Credit are primarily the annual management fee. This is USD 708 (ie USD 59 per month). However, no additional fees are required for Loan and Credit loan.
To obtain this loan
You will need two personal documents – an identity card and some other identity document. Loan and Credit also requires the submission of documents to verify your ability to repay. In particular, this means proving your income.
This can be either a bank account statement where you receive your payroll, or a receipt from your payroll office, or it can be pay slips or a tax return (for a self-employed person). Based on these documents, the Bank assesses your ability to repay and sets the maximum amount of credit it can provide you based on these documents.
The loan without collateral to Loan and Credit can be optionally supplemented with insurance against long-term incapacity for work or insurance against full disability or death.
Early repayment of the loan without collateral from Loan and Credit
In the event of early repayment of this loan without collateral, you will have to pay a penalty fee of 0.2% of the current balance of your loan. At least it is 100 USD, the maximum amount will be 1500 USD.
Loan and Credit does not require any additional collateral for this loan. The borrowed money is then used by the client for arbitrary use, the spending of borrowed money is not limited to one specific purpose. The borrowed funds are transferred to your bank account and it is up to you how you spend them.