If you need an instant personal loans are unsecured loans with no guarantor and collateral free, flypay can be helpful. But, if the credit report is unsatisfactory, loan approval may get delayed or rejected.
Instant personal loans are the need of the hour due to the ongoing Covid-19 pandemic where people have suffered huge financial losses. Other sources of seeking immediate finance have diminished and apparently instant personal loan is preferred due to its easy application and quick approval in 24hours.
There are loans with a higher amount that require a guarantor mandatorily but if your financial need can be met with instant personal loans then nothing like it as you will not have to look for a guarantor. flypay, an instant personal loan app powered by BETTERLENDING is a great financial support providing a loan amount in a range of ₦5,000 – ₦500,000 instantly without a guarantor.
flypay instant loan app is curated in such a way that it can be helpful when the financial needs are urgent with no guarantor or security needed. Following are the flypay personal loan app key features and benefits defining how it can be helpful, when needed the most with no guarantor:
flypay ensures quick instant personal loan within minutes, once the required documents and personal details are authenticated.
There is no collateral or guarantor needed for availing flypay instant personal loan even if the borrower is applying for the first time.
Interest rate is fixed that reduces the risk of fluctuation as per the market rate.
Another important feature and benefit of an online instant loan procedure is the paperless documentation. No physical documents are required on the flypay loan app. KYC details and income documents are verified for loan sanction.
With no guarantor, the borrower’s stable monthly income will suffice to avail flypay instant personal loan.
flypay eligibility criteria with no guarantor
When you look for a personal loan the first thing the lender will verify is the eligibility criteria for instant personal loan. flypay can be helpful as the eligibility criteria is hassle-free as mentioned below:
- You should be in an average age bar between 20– 58 years
- You should earn a minimum income of ₦5,000/ per month
- Six month bank statement of salary account for salaried and & six month bank statement for self-employed is mandatory
- Should hold a proof of Nigeria citizenship
Documents required for flypay instant personal loan
The paperless documentation makes flypay online procedure convenient for the borrower with just three things needed for approval:
- Identity Proof that includes your / Smart card driving license/Passport
- BVN card details for evaluating your credit score and financial history
- Other details like company address and job stability of at least six months is needed while applying for instant personal loan with no guarantor
So, a guarantor is not a mandatory requisite while applying for an instant personal loan. Being an unsecured loan, the formality of submitting assets or having a guarantor is eliminated.