Unsecured loans are meant to fit your budget and not the bank’s. No strings attached in the form of assets. You can compare personalised deals smartly and fairly without going out of your way because of some setbacks. Apply for loans virtually from anywhere based on your financial potential and not your past.
A personal loan option that you can obtain without pledging collateral is called an unsecured or no-collateral loan. This means that assets like a home or a car, or your savings, will not be used to back a loan. Lender will consider your creditworthiness and repayment ability as your strengths while offering unsecured loans in Ireland.
You can get access to a standard borrowing range of €1000 to €25,000. This is because of the wide panel of lenders we have been working with as one of the trusted loan brokers. Depending on the loan offer you choose, the repayment term might vary from 12 months to 60 months accordingly.
Why wait! Get in touch with Givemyloan to compare the loan proposals coming from different lending sources in a fuss-free way. The various cities where you can find us working 24/7 are Dublin, Cork, Sligo, Limerick, Galway, Waterford, etc.
If your loan application seems perfect for private loan agencies, getting an instant cash loan in 1 hour is also possible. Therefore, any immediate and sensible purpose can be addressed with these loans. Prefer getting these loans for genuine requirements like:
Getting rid of debts: You can use them as debt consolidation loans. Combine pending payments and disburse via a loan. Re-structure the debt cost with this simple move.
Repairing a car: You cannot get a car loan to fix your broken car. However, this no-collateral loan can be obtained for this purpose. This might be a small requirement, but you cannot let it go.
Refurbishing your home: When the festivities, i.e. Christmas, are just around the corner, your home needs a makeover. This no-collateral funding solution can be used as home improvement loans. Get the required amount to refurbish your home without any delay.
Cover unexpected costs: You might have to pay educational bills, rent, credit card dues, bank overdrafts, etc. Unsecured loans can be your companion provided you promise to repay them as per the repayment schedule.
Other than the above uses, getting these loans makes sense to meet a small funding gap in your wedding expenses or to sponsor some unplanned payouts while travelling. Assess your needs and validate that unsecured loans can fulfil them ahead of making an application.
If you are stuck between a secured loan vs an unsecured loan, Givemyloan can help you spot the differences. The major difference, as you know, is the requirement of collateral. You can bypass it by getting a collateral-free financing option.
Here is a table showing their comparison to help you justify your ultimate decision.
| Secured loans | Unsecured loans |
|---|---|
| Fear of losing assets will haunt you | You can be fear-free absolutely |
| Get a bigger amount for larger purposes | Available in a moderate amount for smaller purposes |
| Obtainable at low rates as less risky for lenders | Risky for lenders and might carry with higher rates |
| Longer span provided for repayment | Fixed monthly payments with no burden of full payment at one go |
| Requires more documentation | Minimal paperwork is required |
You must check your eligibility for unsecured personal loans. Failing to satisfy these conditions will result in disappointment because of rejection. Therefore, make sure that you fit the criteria set by online lenders or any loan providers you want. You can apply for these loans if you are:
Some lenders might have different preferences. You must go through the individual requirements so that you do not have to face an unwanted loan denial. You can rely on us to find an ideal lender, as we have a proven record.
Get an unsecured loan after knowing the benefits it can offer. These are the ways you can take advantage of these loans apart from their collateral-free feature. Not only the purpose, this funding arrangement can make borrowing blissful in the following ways.
Hassle-free application mode
These are mainly online loans, which require a virtual application from your end with all crucial details. No need to experience lengthy bank visits. Make sure to provide correct details to get matched with multiple lenders at the same time.
Repayment is predictable
You can budget effortlessly as you are required to arrange money for fixed monthly repayments. Borrow an affordable amount that can make repayments convenient and easier. With little adjustments in expenses, timely payments can be disbursed.
No complication for pre-payment
Most of the loan providers will be willing to let you repay in advance without paying any penalties. It would be a great idea to check with the lender to understand the scope for loan pre-payment. Otherwise, you might have an unpleasant experience.
Credit building opportunity
You can lay the foundation for building your credit track record by making timely loan payments. Therefore, if you have not created credit history yet, start this journey with these personal loans. Plan smartly and repay the fixed amounts over months as specified by the lender.
Yes, you can avail of unsecured loans for bad credit as well. This is where online loan brokers like us can help you in finding lending sources which specialise in offering loans to someone with poor credit. Your options will indeed shrink, but this does not mean that you cannot get a loan in this situation, as long as we are here to help you.
Watch out for the aspects that can help you borrow money irrespective of your credit scores.
While searching for collateral-free loan options accessible with low credit scores, you may bump into no credit check loans. Beware, as they might be a trap for you. Here, one important thing to keep in mind is that lenders are required to perform soft credit checks upfront before pre-approving loan offers.
When you compare different loan offers, you must be curious to know “What is the typical unsecured loan interest rate in Ireland?”
There are many factors responsible for influencing the unsecured loan interest rate. Your credit history, borrowing amount, length of repayment term and purposes (to some extent) are what you should be concerned about. Stronger credit profiles are most likely to get the lowest rates because of low risk extent.
Now, some lenders might advertise the cheapest unsecured personal loan rate for whatever credit scores. On the flip side, some might be very particular about borrowers having favourable credit scores. Drawing a comparison of loan offers pre-approved by lenders will prove to be beneficial for you.
This will tell you how APRs vary accordingly for good or bad credit scores. Then, you can confirm if you can afford loan payments and plan for them subsequently.
| Credit score | Estimated APR range (approx.) |
|---|---|
| Excellent scores(720 – 850) | 5% to 9% |
| Good scores (690 -719) | 9% to 14% |
| Fair scores (630 – 689) | 12% to 18% |
| Bad scores(300 – 629) | 15% to 25% |
Some borrowers might be on the lookout for loan offers that can promise the lowest rates with these collateral-free loans. However, their credit scores might happen to be the most unfit. In that case, they must try out these ways to obtain bad credit loans.
Like every loan option, these unsecured loans will also unveil some setbacks eventually. However, there is no reason for you to be scared, as there are ways you can minimise the risk extent. Ahead of getting this financing option, you must take a look at the precautions you may take.
| Potential risks | Solution |
|---|---|
| Costly rates because of the no asset factor | Draw a comparison to find competitive rates |
| Effect on credit scores | Repay timely to create a positive credit history |
| Defaulting loans | Review your financial condition before applying |
| Shorter repayment term | Plan your expenses accordingly to make room for loan payments |
| Hidden charges | Read the loan fine print carefully before giving your consent |
Get started with an online application to make your way to these loans. This will be necessary to pre-qualify with some of the lenders. You will be able to see how they curate an offer for you.
A series of steps will define the working procedure of unsecured loans. Once you approach us, we will need you to go through these steps.
Do you want to get an unsecured loan online at the best rates? Givemyloan can make this happen by introducing you to our network of potential lenders. No need to do a lot of legwork, as you can scroll through the offers from different lending platforms on the spot in Ireland.
Seamless loan hunting
No need to fill out multiple forms and face multiple checks. Share some of the basic information to weigh the different types of loan deals. Utilise our experience and expertise in sorting out the best loan offer in no time.
Amplify the chances of approval
Our loan specialists can understand your preferences better than you. Moreover, we can scan the market faster than you. Above all, we can figure out who will be willing to process your loan request.
Time and money saving
As compared to manual comparison, you can compare here faster and save a lot of time. At the same time, you can go through diverse offers within a short span. This can let you grab something which can perfectly match your repaying potential.
Safety of information
Your details do not have to be exposed to different platforms for the sake of comparison. You can come to us, and we will allow you to compare offers. Here, our loan experts will ensure that your data remains encrypted throughout the process.