Christmas festival has a span between the last week of
December and the first week of immediate January. Christmas festival is
celebrated by the Christmas community all over the world with mirth and spirit.
It creates a great stirring in the entire Christian world.
Festival and finance are intimately related. It is really painful and it is
difficult to participate in any festival if the wallet is deflated. True it is
that there are millions in who do not have regular employment,
and for that reason, regular earning. There are salaried people in huge number
who cannot meet their daily demand because of tremendous rise in market price.
The financial market, keeping this problem in mind, has made provisions of
finance one of which is unsecured Christmas loans.
Usually loans are available in two forms: secured and unsecured. In secured
form of loans, the borrower is to offer valuable property as guarantee against
which the lenders advance the loan amount. The lender keeps the right to grab
the said property if the borrower fails to repay the borrowed amount honoring
the agreement made. are free from such rider. The borrower for this kind of
loans is not asked to produce collateral property.
Credit history of the borrower does not block the loan-seeker in receiving
unsecured Christmas loans. Borrowers with unhealthy credit history are eligible
to apply. Despite it is said, the lender verifies the credit status of the
borrower. Credit status of the borrower is used by the lender in determining
the payable amount of loans and in fixing the rates of interest.
The loans-seeker must satisfy the following conditions to be eligible for
unsecured Christmas loans:
1. He must be a citizen of .
2. He must be over 18.
3. He must have a valid and active bank account.
4. He must be employed in a legally approved organization.
5. He must earn about L1000 in every month.
The borrower can secure an amount in the range from L100 to L1000 if he applies
for unsecured Christian loans. The reimbursement tenure allowed is within 14 to
31 days. The interest rates for this type of loans are relatively high.
Addy is an
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