If you are unemployed and facing any financial crunch and you do need financial assistance or support, what is the first thing that strikes your mind? Maybe you would think to ask it from any of your close friend or family members, but What if you need a huge amount and that too for a more extended period. You can apply for an Instant Personal Loan; of course, your unemployment could be a huge obstacle in your way. If you too are stuck with the same problem, you can read this article and try to solve the issue by reading this article.
You might wonder but it is true that even if you are unemployed, you can get the Personal loan easily. Of course, there are specific criteria you need to fulfill to get the Personal loan. Here are the requirements you need to accomplish to get the Personal loan. Have a look!
Credit History or Credit Rating
An important point is a credit. It is essential to check the employment status that eventually explains that whether the borrower is able enough to grab the loan or not! Credit rate is fundamentally based on our financial history. It ultimately explains the role of a borrower regarding financial obligations. A strong credit score of a borrower explains that the borrower is able enough to return the lender’s money on time and that too within the decided time. Good credit history or a good credit score is positive, on the other hand, a bad credit score is negative.
Monthly Cash Flow or Regular Income
If you are unemployed or do not have any job and still needs a personal loan, there are certain criteria a lender wants a borrower to fulfill. The points like pensions, social security, dividends, alimony or any disability, these are the considerations regarding which the lenders lend the unemployed borrower money. Steady or constant income from a source is also available. Make sure you mention all the form of income in the Loan application.
Secured Loans or Loans with Collateral
The chances of getting a Personal loan for an unemployed individual is less and difficult. However, you can get a loan if you are able enough to secure the amount of loan, by offering any collateral or savings account. It could be a car, gold or any mortgage as well.
Which Bank Offers Personal Loan to Unemployed Individuals?
These are three necessary and important points that can help an unemployed individual to get a Personal loan. If you are unemployed and want to apply for a Personal loan, you can prefer it from the HDFC Bank. There are many similar schemes in HDFC that could be useful for you. Also, HDFC Bank Personal loan interest rate is even lower than any other bank. If you get this loan via Rupee Station, it would be beneficial and helpful.
Why Choose Rupee Station to get HDFC Personal Loan?
If you want a Personal loan from HDFC, you should apply with the help of Rupee Station. It acts as a mediator between the financial institutions generally bank and the borrower. It provides you with a loan at a low rate of interest. It offers you a loan even if you a have a low CIBIL Score. Rupee Station has EMI Calculator as well as Credit Checker. On the other hand, it provides you online documentation facility. Also, once you are documents are approved and verified, you would receive verification notification in two minutes. It means you get two minutes approval.