All About Loan In Singapore
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A High Risk Personal Loan During Testing Times

If you had just been turned down by a personal loan lender because of your bad credit, keep your head up. There is no need for desperation as you can apply for a high risk personal loan. High risk personal loans are conceptualized to specifically serve people with bad credit and are in need of quick cash for differing purposes.

As with most loans, high risk personal loans can be classified as secured or unsecured. A secured high risk personal loan is secured with your personal asset like your property, stocks, car, etc. The higher value of your collateral, the higher your high risk personal loan quantum may be. This is to give you a fair deal on the value of the collateral. And because a secured high risk personal loan put less risk on the lender, the interest rates can be significantly lower than an unsecured personal loan.

For unsecured high risk personal loans, you will not have to put up a collateral as security of the loan. The major drawback of an unsecured high risk personal loan is that the interest rates can be considerably higher. These days lenders will also require you to provide a personal guarantee for these types of personal loans.

Because high risk personal loans are conceptualized to meet those with bad credit and urgent needs, the application process is pretty streamlined as lenders have already set general criteria as an individual can easily qualify even with bad credit. Your credit record may be totally ignored. The screening is at a most basic level as you can easily qualify for these loans. You can walk in to the many lending institutions around and compare their interest rates and loan terms to find one that is suitable for you.

A very convenient way to apply for high risk personal loan is to do it online. You can take 5 minutes to fill up an application form and the funds can be disbursed into your account within 24 hours.

You can use the funds for many purposes like bills you incurred during an emergency, pay off your other existing loans, pay for your due insurance premium, or even take an important client out for an expensive dinner at the Integrated resort. The other thing about high risk personal loan is that it is a proper legitimate loan that will be recorded in your personal credit record. So it serves as an opportunity for you to build up your personal bad credit.