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Loan granted by the bank without accepting any security is called a clean loan. But the bank will safegaurd themselves by checking the repaying capacity based on the salary cerificate.

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10y ago

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What does clean loan mean?

It is a kind of loan where there is no primary or secondary security or collateral taken by the bank.


Will a Clean sweep loan hurt your credit?

anytime you consolidate your bills or get a loan to pay them all off together it shows a down side- but if the clean sweep loan is cleared it will come off your credit history after 7 years from closeing the loan try paying bigger chunks off one card to get interest rates down and cut the card-then start clearing another. you can also talk to the loan companies of your bills and see if they will cut you some slack or lower interst rates- some will match your payments to lower them. of course don't be using more debt while your paying the others


How long does it take to receive a personal loan from summit federal credit union?

Depemds on underwritting and how clean the borrowers credit is usually 2_3weeks.


Is the Lexie Loan Company a clean company?

I don't have specific information on the Lexie Loan Company, including its practices or reputation. To determine if a company is considered "clean," you would typically need to assess its business practices, transparency, customer reviews, and compliance with regulations. It's advisable to research recent reviews and reports to get a clearer picture of the company's standing.


What is the credit score you need for a car loan?

Unfortunately (for borrowers) some car dealerships will give a loan to anyone regardless of credit score. The problem you'll face is that you'll get unfavorable loan terms - specifically APR, or length of the loan. There's no specific FICO score that enables you to get a car loan, but you will pay a lot more if your credit score is bad. Before applying for a substantial loan - if you can - clean up your credit history for 6-12 months to help qualify you to get better contract terms.

Related Questions

What is clean loan Tamil?

"Clean loan" in Tamil can be translated as "சுத்தமான கடன்." Clean loan refers to a loan that is offered by a lender based on the borrower's creditworthiness without the need for any collateral or security.


What does clean loan mean?

It is a kind of loan where there is no primary or secondary security or collateral taken by the bank.


Do you have to continue paying a car loan if you receive a clean title with no lien holders?

no


Does your criminal record effect getting a small business loan?

If a person has a criminal history, getting a small business loan can be problematic. A clean record is a good sign, but it is no guarantee of garnering a loan.


What happens if you have a clean title and loan is secured can finance company still repossess?

Maybe


I need a house loan, but how can I be approved with my bad credit score?

At the present getting loan with bad credit is hard. You will need to take some steps to clean up your credit first.


Will a Clean sweep loan hurt your credit?

anytime you consolidate your bills or get a loan to pay them all off together it shows a down side- but if the clean sweep loan is cleared it will come off your credit history after 7 years from closeing the loan try paying bigger chunks off one card to get interest rates down and cut the card-then start clearing another. you can also talk to the loan companies of your bills and see if they will cut you some slack or lower interst rates- some will match your payments to lower them. of course don't be using more debt while your paying the others


How long does it take to receive a personal loan from summit federal credit union?

Depemds on underwritting and how clean the borrowers credit is usually 2_3weeks.


Is the Lexie Loan Company a clean company?

I don't have specific information on the Lexie Loan Company, including its practices or reputation. To determine if a company is considered "clean," you would typically need to assess its business practices, transparency, customer reviews, and compliance with regulations. It's advisable to research recent reviews and reports to get a clearer picture of the company's standing.


What is the credit score you need for a car loan?

Unfortunately (for borrowers) some car dealerships will give a loan to anyone regardless of credit score. The problem you'll face is that you'll get unfavorable loan terms - specifically APR, or length of the loan. There's no specific FICO score that enables you to get a car loan, but you will pay a lot more if your credit score is bad. Before applying for a substantial loan - if you can - clean up your credit history for 6-12 months to help qualify you to get better contract terms.


What is meaning by clean credit?

Clean credit - means you've never missed a payment on a credit card or loan agreement - that you've always paid on time - and that you have repaid the sums in the agreements within the allotted time period.


Is the Shivkumar loans and Investment Company a clean company?

I do not know about this company, but Shivkumarloans & Finance Company of New Delhi, India is definitely a loan scam.