When you're looking for a loan, it's important to get specific. There are, after all, a variety of types of loans available to you: payday, no guarantor, instalment, logbook, and more. The type that is best comes down to each person’s unique circumstances. But one of the most popular types of personal loans is the unsecured loan.
Unsecured loans are loans that don't require collateral from the borrower. While many banks and other financial institutions will often require you put collateral down for a loan, unsecured loans are issued based on the borrower's credit. This means that if the borrower is unable to repay the loan, a lender cannot take their possessions.
Who Are Unsecured Loans Good For?
An unsecured loan can be a useful option for many borrowers, particularly for those who don't own possessions that are worth enough to serve as collateral. While a potential borrower's credit history is the primary factor in determining the approval for an unsecured loan, online payday lenders like QuickQuid are sometimes able to offer loans for customers with less-than-perfect credit. This can make unsecured loans a good option for people who don't have many other credit options available to them.
Unsecured Loans From QuickQuid
At QuickQuid, our short-term loans do not require our customers to give up their assets. With loan amounts available up to £1000† (or £1500† for existing customers) and three repayment options to choose from, QuickQuid loans are designed to give customers options that fit their unique financial situation.
To apply with QuickQuid, you must meet the following minimum requirements:
- 18 years of age
- Active UK bank account
- A regular income
- UK residency
Meet the requirements and need an unsecured loan today? Apply now! If approved, we can deposit funds to your bank account within 10 minutes.§
More About QuickQuid
Authorised under the Financial Conduct Authority, QuickQuid is a lender with a proven track record of funding residents of the UK during some of their greatest times of financial need. Since 2007, QuickQuid has delivered for more than 1.4 million hardworking people. If you have any questions about what we offer, visit our Rates & Terms or FAQs page. You can also contact our Customer Support team seven days a week.