Secured Short Term Personal Loans are given against a security, which is generally the house or any other property on your name. This security acts as the guarantee for the repayment of loan. In case you fail to repay the loan in the time decided then, the lender can sell off the property. In case of the unsecured short-term personal loans you don't need any security to be placed. The only drawback in this case is that the interest rate is little high when compared to the secured counterpart, but it is very useful for the people with a bad credit history.
Such loan can be availed for the amount varying between £ 500 to £ 100000 and more based on your repayment capacity. You can choose the repayment term from 1 year to 25 years. The primary condition for getting easy instant loan is to fill in the application form with clear and concise details.
Some of the basic conditions, which you need to satisfy while applying for the loan, are;
• You need to submit the proofs of your bank account details. You also need to submit the mentioned number of post-dated check leaves.
• You also need to have a valid and continuous source of income. This is to decide your loan amount.
• You need to be above 18 years of age.