Best Unsecured Loans 2022: Compare No Collateral Loans

We help you find the best unsecured loans and apply online. With Financer.com you can:

  • Use our online loan comparison tool
  • Compare rates from the best online lenders
  • Apply for an unsecured loan of up to $35,000

How much would you like to borrow?

The Best Unsecured Loans for November 2022

Borrow $1,000 for a period of 6 Months.
Edit Search
Amount: $1,000 | Period: 6 Months
Search Options
We found 36 personal loans

Edit Search

More Filters Reset
Choose your state

Chosen 1,096 times

Chosen 1,096 times

Loan amount

$1,000

APR:

4.99% - 35.99%

Total Payment

$1,014.75

for 6 months

Monthly payback

$169.13

for 6 months

Open right now

Customer Type

All

Borrow up to

$50,000

Estimated Payback

28/05/2023

Weekend Payout

Age

18

0 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 82,122 times

recommended

Chosen 82,122 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now
Most chosen

Customer Type

All

Borrow up to

$10,000

Estimated Payback

28/05/2023

Weekend Payout

Age

18

33 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 27,552 times

recommended

Chosen 27,552 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now
Best reviews

Customer Type

All

Borrow up to

$35,000

Estimated Payback

28/05/2023

Weekend Payout

Age

18

15 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

Chosen 23,780 times

Chosen 23,780 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now
Lowest cost

Customer Type

All

Borrow up to

$10,000

Estimated Payback

28/05/2023

Weekend Payout

Age

18

26 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 3,530 times

recommended

Chosen 3,530 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now

Customer Type

All

Borrow up to

$35,000

Estimated Payback

28/05/2023

Weekend Payout

Age

18

3 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

Show all 36 offers
$1,000
Compare Offers

How To Compare Unsecured Loans

How To Compare Unsecured Loans
1
Choose your loan amount
Choose the loan amount you need
2
Compare available options
Filter the results based on your criteria and compare the best rates
3
Choose an offer
Find the best match for your unsecured loan needs
4
Complete the application
Click Get Started to fill in your unsecured loan application

As seen in

entrepreneur-logo.svg
forbes-logo.svg
business-insider-logo.svg
globo-logo.svg
focus-logo.svg
dagens-industri-logo.svg

What Is an Unsecured Loan?

Unsecured loans are loans that are not backed by collateral like a home or a car. Examples include personal loansstudent loans, and credit cards.

Unsecured loans are often referred to as signature loans because that is all that is needed if the borrower meets the requirements.

 
  • Note: Unsecured loans typically carry higher interest rates as lenders take on more risk when approving a loan without the backing of any assets.

An unsecured loan has no collateral protecting the loan so lenders have no legal right to any of your assets if you fail to pay.

Why Compare Unsecured Loans At Financer.com?

Compare loans with no collateral needed and apply online in minutes
Completely Free Comparison
Completely Free Comparison
Instant Results Without Credit Check
Instant Results Without Credit Check
Read Genuine Customer Reviews
Read Genuine Customer Reviews
Find The Cheapest & Best Rated Unssecured Loans
Find The Cheapest & Best Rated Unssecured Loans
Compare Now

How Unsecured Loans Work

When issuing unsecured loans, lenders carefully review your credit score and history, your employment and income, and your current debt-to-income ratio.

If any of these do not align with the bank’s requirements, you will not get the loan.

Some examples of unsecured personal loans include:

Unsecured loans generally have very little paperwork and a short approval process. You also do not risk losing any property, as there is no collateral.

That said, these loan amounts are generally small, so the bank does not stand to lose much if you default.

 

Use the Financer.com loan comparison tool to compare 304 lenders. See immediate results without affecting your credit score.

Online unsecured loans are best for short-term emergencies and are not a solution to serious financial troubles.

Here are some of the advantages of unsecured loans:

  • No collateral is needed
  • Quick access to funds
  • Competitive rates for borrowers with good credit
  • Less borrowing restrictions

 

On the downside, with unsecured loans, you may have lower borrowing limits and higher interest rates if you have a low credit score. In addition, there is typically a stricter approval process.

Secured vs Unsecured Loans

Secured loans differ from unsecured loans in that they require assets as security for the loan. Like secured credit cards, borrowers need to have collateral.

Getting approved for secured loans is often easier than unsecured loans because there is less risk to the lender. Interest rates are also typically lower.

Get the Money You Need

An online payday loan can help you get the money you need for emergency expenses.
Medical Bills
Medical Bills
Car Repairs
Car Repairs
Home Repairs
Home Repairs
Education
Education
Travel
Travel
Personal Expenses
Personal Expenses

How to Qualify for an Unsecured Loan

To limit risk, lenders typically want to make sure you will be able to repay your loan. They may ask for information that includes the following:

Your Credit Report

Lenders may access your credit report to see how you handle credit cards, home or car loans and to review your payment history. They look for responsible credit use, timely payments, and low credit card balances.

They also check your credit score and borrowers with scores of 700 or more typically get the best interest rates.

Your Assets

Although unsecured loans do not require any assets, lenders may review your savings and investments. If you have significant savings, it means that you are less likely to miss a loan repayment.

Your Income

If you have sufficient income to comfortably cover your monthly loan payments, you are considered to be a lower risk by the lender.

They also look at your debt-to-income (DTI) ratio. This is calculated by taking your monthly debt payments and dividing them by your gross monthly income.

For example, say you have $600 worth of debt payments and a gross income of $2,000 per month, your DTI would be 0.30 or 30%.

Lenders use this to determine your ability to repay a loan. The lower your ratio the better. Lenders typically like to see a DTI of 36% or less even though some may approve a DTI as high as 46%.

Financer.com compares the best non-secured loans from top lenders, helping you find a loan that suits your needs.

Pre-qualify for a Unsecured Loan Online

  • We include a diverse range of lenders in our comparison.
  • Completely free to use, see instant results without any registration.
  • Find the cheapest loan - we rank companies by total cost.
  • Filter on specific lenders that suit your needs.
  • Read what clients are saying about the lender.

Start Comparing

How much would you like to borrow?

Unsecured Loans for Bad Credit

If you have a low credit score your loan options may seem limited. But there are lenders that offer unsecured loans for bad credit

Note that these loans may come with higher interest rates so it's always recommended to compare loan offers to see what lenders offer the best terms, interest rates, and fees.

Online loans for bad credit differ from payday loans, which often require a lump-sum repayment on the borrower’s next payday.

Unsecured Installment Loans with No Credit Check

If you're looking for loans with no credit check you can compare online lenders and apply without hurting your credit. This is because most online lenders do not do a hard credit check with you pre-qualify for a loan.

The same applies to payday loans with no credit check where lenders will allow you pre-qualify online within minutes, to see what you could qualify for.

Once you compare loan offers you can choose a loan and formally apply. This can also be done online and usually takes less than 10 minutes.

The Advantages of Online Unsecured Loans

Online Loans Are Convenient
Online Loans Are Convenient
Get Funds As Soon As the Same Day
Get Funds As Soon As the Same Day
Apply Anywhere, Anytime
Apply Anywhere, Anytime
Less Paperwork Required
Less Paperwork Required

What Customers Say About Us

4.63 based on 291 reviews

from Reviews.io

Find Your Unsecured Loan at Financer.com

Looking for unsecured loans online? Financer.com helps you compare the best no collateral loans and get affordable terms and loan rates from leading U.S. lenders.

We look for lenders that offer full transparency and have a long track record of successful lending and satisfied customers. We are always improving our comparisons, but are confident in what we can bring to market, and we know you will be as well.

Use our free loan comparison tool to find the right unsecured personal loan today.

Unsecured Loans FAQs

What is an unsecured personal loan?

An unsecured loan is simply a personal loan that doesn't require any collateral. 

Why does an unsecured loan have a higher interest rate than a secured loan?

In short, lenders take on more risk with unsecured loans as they are not backed by collateral.

What happens if you don't pay back an unsecured loan?

Most lenders charge hefty late penalties. If your loan remains unpaid for a few months, you may be handed over to a debt collector. If you still don't make your payments or agree to suitable payment arrangements, you may be summoned to appear in court. If a judgment is issued against you it can remain on your credit report for up to 10 years.

hy are student loans considered unsecured?

There is typically no collateral required for a student loan, which is why they are considered unsecured loans. However, when it comes to non-payment these loans are not always treated the same as other unsecured loans. Failure to pay a student loan can result in a judgment against the consumer and may also include the garnishment of wages.

What are the best unsecured loans?

This will depend on each borrower’s individual needs and financial situation. Unsecured loans include personal loans, student loans, and personal lines of credit. Always compare loan rates and terms to find the best loan offer from lenders.

Cash-Out Refinance vs HELOC

Getting access to your home's equity could be a cost-effective method to achieve your dreams, whether you need money to pay off debt, fund a

See more posts
See more guides

Debt Consolidation: Does It Hurt Your Credit?

Debt consolidation is a popular way to manage debt, but does it actually help or hurt your credit score? Debt consolidation can have both positive and ...

See more wikis

Was this article helpful?

Be the first one to give feedback

How can we improve this article?

We use cookies to give you the most relevant experience. By using our site, you accept all cookies and our privacy policy. To find out more about what cookies we use you can go to privacy overview