Easy loans are personal unsecured loans that are relatively easy to receive and payback. You don’t need to provide the lender any security for borrowing money. Most people opt for this type of borrowing when they require instant access to loans and cannot go for other options that require more documentation and a need to pledge some security against the loan. Some noticeable features of these loan options include the following.
The whole online application process is pretty simple. First of all, you open up the application page and add your details alongside your bank and salary information. An uploading option lets you upload scanned images of some income-proof documents such as pay stubs, tax returns, and bank statements. You do not have to take any paper documents to the lender and can upload these from your office or home at your convenience.
If you meet all the basic requirements of this unsecured loan, then a lending agent will contact you and inform you about a loan approval. You get paid in your account in less than a day or two. As a borrower doesn’t put any assets such as a home or car, the lender doesn’t take much time to evaluate the property. Most borrowers take less time to check the requirements and decide whether to grant loan approval or not.
Easy Installment Plan
As far as repayment is concerned, online lenders offer flexible payment plans based on a borrower’s income and convenience. Unlike a payday loan where a person has to return all the loan money in a lump sum, unsecured loans are different. The lender divides loan money plus interest in equal monthly installment of three to five years. So, you can pay back the loan amount at your convenience.
Credit Score is Not a Problem Anymore
In case you are not applying for a loan because you don’t have a good credit profile, you should go with an easy loan. It’s designed to offer financial help to anyone who needs it regardless of his credit score. People with bad credit or no credit can still qualify for this debt, as long as they have income proof.
Easy loans allow you to get money fast in the time of financial distress. You don’t need to put any asset at risk but still get a chance to have all the money you need to deal with a problem.