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No guarantor loans in India

Key takeaways

  • Robocash does not ask you for any collateral or guarantor. 
  • Robocash loans are easily available. 
  • You need basic KYC documents like address proof and PAN Card. 

To take a loan, you required documents. Loan companies even ask for guarantors. A guarantor is a person who ensures the company trust you. Guarantor has to sign the agreement. If a lender is not able to recover a loan from borrowers, they will catch the guarantor. Therefore people mostly do not agree to become a guarantor for the loan.

What is a non-guarantor loan?

A non-guarantor loan is a loan where no third person is involved between the lender and borrower. Agreement of the loan does between only lender and borrower. The borrower does not need any other person to assure the lender.
If you want to take a loan without any guarantor, you need to have a good credit score. If you do not have a good credit score, you might need collateral. Collateral is like your property paper. It helps lenders to recover money if you do not repay your loan on time.
Robocash Instant personal give the option to apply for loans. No guarantor is needed. You can apply for a short term loan. No guarantor is required to Robocash. Robocash loan does not require any guarantor and collateral. You can get the loan on basic KYC documents.

Difference between the guarantor and non-guarantor loans

The difference between the guarantor and non-guarantor loan is that a third party must take a guarantor loan. For a non-guarantor loan, you get a loan without a guarantor.
A guarantor of the loan has the same liability as a borrower for the repayment of the loan. A guarantor is a person who has a good CIBIL score and a good reputation for the repayment of a loan. Guarantors are, most of the time, your family members and close friend. The guarantor must have a good credit score and is also trustworthy for the lender.

When a person needs a loan, due to any financial reason and they can't get a loan due to previous credit history and bad credit score. If a person has not taken any past loan, they don't have any credit score. Otherwise, if a person takes any loan or credit card and does not pay the EMI and credit card bill timely, that is why a person has a bad credit score. In that case, traditional banks and NBFC do not provide loans without a guarantor. A loan without a guarantor bad credit is also difficult for taking an unsecured loan.For taking a guarantor loan, you must trust in the guarantor and the guarantor trust in you, who co-signs the loan agreement with you. In this case, if you do not repay your loan on time or default the loan, then your guarantor is needed to repay the loan amount.

In the guarantor loan, you always approach a person who is close to you. Most times, family members and close friends are guarantors, and they have a good credit score. However, in this case, there is the potential of putting the relationship at risk. Sometimes, due to late payment and default of the loan for any financial condition, your relation will be bitter.
In a non-guarantor loan, you did not need any middle person or your family member and close friend as guarantor. Non-guarantor loans are provided based on your ability to take a loan. If you take a loan without a guarantor, the lender has faith in you, and they believe you can repay the loan. Traditional banks and NBFC do not provide a non-guarantor unsecured loan. You must have a good credit score and a stable source of income to get a loan.

How to apply for a Robocash loan with no guarantor

Robocash is a digital instant loan company that provides you with an instant loan for any financial need. You can apply for a loan from Robocash through the Robocash mobile app and website of the company.
A loan with a bad credit score and without a guarantor is always difficult to get. If you want a loan without a guarantor, Robocash gives you the option to apply for a loan. Robocash does not need any guarantor for your loan approval. Loans, bad credit and no guarantor, is difficult to get.
The application process for a Robocash loan is simple and easy and does not need any guarantor for the application. In addition, Robocash is not dependent on credit score; we use different parameters for calculating your creditworthiness. Therefore, your previous credit history does not stop you from the application for a new loan.
We assume that the situation of a person changes over time. So you can apply for loans for bad credit, no guarantor, no fees instant decision.

Robocash requirements for loans with no guarantor

You can apply for loans with no guarantor from Robocash with minimum documentation. Robocash instant loans are available for the person who is an Indian citizen and 21+ years old. You can fill the basic questionnaire like personal detail and employment detail. Robocash system automatically analyzes your data. Robocash automatically decides your creditworthiness.

For a Robocash loan, you do not have to submit any physical document and agreement. The entire loan process is digital with a minimum document like a Pan Card and Address proof photo. Loans for bad credit no guarantor is available from Robocash.

Robocash never demands a guarantor and any collateral for the loan. It is a collateral-free unsecured loan. 
Approval of loans in Robocash does not depend on only credit history. Most Robocash customers recommend another person for the loan. In Robocash, from applying loans to the repayment of the loans, all the processes are easy and convenient. 

Ways to get a loan for bad credit with no guarantor

If you are unemployed and you want a loan without a guarantor. Then it would help if you tried to find out a lender who has lower credit criteria.  
For taking a loan without a guarantor, you need to apply for a small amount of loan. Small amount loan is easy in repayment and also easy to provide for the lender. A small loan is always less risky compare to a long term high amount loan. Short term loans, no guarantor required.
If you have a stable source of income, you can apply for loans without a guarantor. Instead, you can convince the lender that you can repay the loan. 
If you want to ensure your loan application does not get rejected in future. You must repay all EMI and credit card bills on time. Your timely repayment of a loan increases your credit score. Bad credit loans without guarantor is risky for lenders. 
No guarantor loan is available for short term small amount loan from a digital lending company like Robocash. It is the best option for you to fulfil your short term requirement and improve your credit score.

Why do people choose loans without a guarantor?

If a person takes a loan with a guarantor, they have to find someone with a good credit score. Your guarantor must trust you if the person is ready to co-sign the loan application as a guarantor. Then they are equally liable for the repayment of the loan. In this case, if the borrower does not repay the loan on time or any EMI payment lender will contact the guarantor for repayment. In that situation, relationships will be at stake. Guarantor feels trouble because of the borrower, and it hurts their relation. A bitter relationship is not good for anyone.
Loans for unemployed with bad credit no guarantor is difficult to get. You may get a loan with collateral if a person goes through a short term problem and needs some urgent money for any need. However, they do not want to disclose their condition to family and friends. We understand this; therefore, Robocash loans do not ask for any guarantor.

The disadvantages of loans with no guarantor

If you want a loan with no guarantor, it will be a big challenge. No guarantor loan like a Robocash loan is always available for a short time. The amount of loan with no guarantor is lower initially. Your limit increases when you repay your loan on time. In loans with no guarantor, the rate of interest is mostly high. The lender assumes the risk of default of loan is high, so they charge a higher interest rate. Robocash charges only a 0.1% interest rate per day.
To get a loan with no guarantor, you have to struggle a lot. Loans without guarantor bad credit is not easy. There are very few lenders who provide loans without a guarantor. You may need to provide collateral or asset for a loan without a guarantor. In a digital loan like Robocash, you do not need Guarantor, Collateral or any assets to get money.

Conclusion

It isn't easy to get a loan without a guarantor. Guarantor becomes equally responsible for your loan. If you do not repay your loan on time company will reach your guarantor. Therefore people find it difficult to provide a guarantor. In most cases, a lender will ask you to submit the collateral if you do not have the guarantor.
Robocash does not ask you for any collateral or guarantor. Robocash loans are easily available. You need basic KYC documents like address proof and PAN Card. Lenders often charge a higher interest rate for a loan without a guarantor. Robocash charges only a 0.1% interest rate per day.
A loan without a guarantor was challenging, but now you can get it from Robocash.

 


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