How can I find a person who can give 10 lakh INR as a loan for 24% pa interest without any collateral security?.

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 rakkesh asked about 3 years ago

How can I find a person who can give 10 lakh INR as a loan for 24% pa interest without any collateral security?.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 acharya answered almost 3 years ago

Now loans which are backed by collateral have a less risk of not being paid and hence have a lower rate of interest. Loans that have no collateral have a higher risk of not being paid back so they have a higher rate of interest. The best way to make sure that any bank gives you a loan without collateral is to show that you are able to pay it back with its interest. And that comes down to your financial documents like income returns, salary slips etc.

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