The words unsecured and cheap cannot usually be used to describe the same loan. Usually in giving an unsecured loan a bank is taking a greater risk with you and will therefore charge more interest. This could be about 2-6% more per annum than a secured loan for the same value.
It could be more difficult for someone unemployed or a regular income to obtain an unsecured loan as you do not have a means to oay back a loan. If you also have bad credit, your chances or getting a loan are going to be even less.
Unsecured loans, especially for a person with bad credit are likely to be lower in value in the region of a few hundred pounds. This is another way that the banks can limit their risk, when lending only small amounts at this risk level. If you need a larger loan amount or a lower interest rate it will be beneficial to shop around.
When you need a no credit check loan, it can be useful to do the research now to find the best rates. It would be of your benefit to ask a finance advisor.
