When one talks about unsecured loans, the first thing that comes to your mind is tenants. It is true that it is the tenants that benefit the most from unsecured loans but you need to know that nowadays unsecured loans are available for homeowners as well. Personal tenant loan, as the name suggests, is especially designed for tenants who live on rented property and have no property that can be kept as security. This loan does not need a guarantor.
As far as the advantages of unsecured loans for tenants are concerned, the biggest advantage is this loan is available to people with a bad credit record. Another advantage is, if you repay a certain part of this loan every month without fail, your credit score will improve. However, you need to keep in mind that the approval of your loan will depend on your ability to pay the monthly installments on the loan.