Are there payday loans without collateral or guarantee?

In general, when you are a candidate for a loan of any kind, it is very common to request a guarantee or guarantee. And yes, we know that it can be extremely complicated to have either. Given this, banks have evolved in various ways and to date there are already several payday loans without collateral or guarantee for which you can apply.

Do you have no guarantee or collateral? Do not worry!


Loans without collateral

A loan without collateral is a credit for which a third person who works as guarantor of the payment of your credit is not necessary in case you cannot pay it off for any reason.

Unsecured Loans

Unsecured loans are those that ask us to leave a good as a pledge for what they can lend you. This means that in case of not liquidating, you would not lose any good like a car or house.

How do loans work without collateral or collateral?

How do loans work without collateral or collateral?

Payday loans without collateral or guarantee are credits offered by various financial institutions for which you only need to provide personal data such as:

  • Name and valid ID
  • Good credit history in Credit Bureau
  • Minimum labor age of 1 year

With all these requirements you can request a loan without guarantee or guarantee , but you must take into account that, since you do not have a financial support that the bank can assess, your credit conditions may change as follows:

  • The loan amount may be low.
  • Interest rates are usually high
  • The term does not usually extend too much

In case you do not pay off your debt, the only thing that would happen is that the bank issues a bad record in your credit history , which in the future will prevent you from requesting more credits.

Recommendations when requesting any of the payday loans without collateral or guarantee


If you are going to request this type of credits it is recommended that you take into account the following points:

  1. You must have a very good credit history to be able to access them , it is recommended to have a payroll account with the bank with which you are going to apply for the loan or have some type of savings or investment account
  2. The payment of your interest will be high , so we suggest you ask for a quote of your monthly payments and with it evaluate whether you can really cover it or not
  3. Remember that non-payment of this type of credit generates a bad credit bureau rating and therefore a low score , which is why you stop being a credit subject to almost all financial institutions
  4. The lack of a guarantee or guarantee is no longer an impediment for you to be granted a credit, however if your credit history is not in optimal condition or your seniority in employment or income is not adequate, it is very possible that you will be rejected

Before acquiring any type of credit, either with or without collateral or guarantee, analyze the amount you are going to request, and compare between at least three similar credits in various financial institutions. Remember that the key to good financing is comparison .