Few formalities and a quick loan

In your early days, it is really hard on you when you are too much occupied in building a career for yourself. And, when you finish your studies and enter into the world of earning a livelihood, it’s still not an easy going. You cannot afford too many luxuries. But, it is wonderful if you get some financial assistance at low rate of interest. Yes, you can borrow money. Unsecured loans even do not require you to give any security to the lender.

To avoid the formalities and technicalities that are involved in secured loans, I applied for an unsecured loan last month. I was amazed to know that unsecured loans could get you up to £25,000 and that too in a quick time. I applied for £5000 only and just after three days my account was credited with the loan amount. Also, the rate of interest was not much demanding – a paltry 9 per cent APR. One of my friends had told me that unsecured loans always carry high APRs and you won’t be able to find cheap unsecured loans. But, I think a loan of £5000 at an APR of 9 per cent could not be said to be a costly affair. However, it is well known that your individual circumstances also affect the rate that you get.


I applied online with two lenders. They explained me different loan plans for which I was found eligible. I opted for one that was without any early repayment penalty and also allowed me a longer repayment period. I was very much convinced that my income would improve and I would be in a position to repay the loan before the term as stipulated in the loan agreement.