Personal Surety Loan is a type of unsecured personal loan where you need a guarantor to secure the loan. The guarantor, typically a friend or family member, agrees to repay the loan if you default on the payments.

• Application and Documentation: You apply to a bank or financial institution and provide necessary documents like identity proof, address proof, income proof, and the guarantor's details.
• Guarantor's Approval: The lender assesses the guarantor's creditworthiness and financial stability.
• Loan Approval: Once the guarantor is approved, the lender disburses the loan amount to you.
• Repayment: You repay the loan in fixed monthly installments over a specified tenure.

Key Features of Personal Surety Loans

• Quick Disbursal: Loans are often disbursed quickly, sometimes within a few days.
• Minimal Documentation: The process involves minimal paperwork.
• No Collateral Required: You don't need to pledge any asset as collateral.
• Flexible Repayment Terms: You can choose a repayment tenure that suits your budget.
• Higher Loan Amounts: You may be eligible for higher loan amounts compared to traditional personal loans.

 * INTEREST RATES *