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Unemployed Loans

A term ‘unemployment’ is used for those who despite being efficient, diligent, skilled, competent and efficient enough to perform excellently remain deprived of a desired job. And keeping in view many competent and efficient youths languishing at home due to lack of good job opportunity, many banks and financial institutes have come forward to offer unemployed loans for helping unemployed youths survive with a great respect till they get the job of their own choice. Such unemployed loans have been categorized as secure and unsecured loans.

If an unemployed youth, despite running from pillar to post in an attempt to find a lucrative job tastes no any success except experiencing a frustration and humiliation at the hands of employers, he is left with no option except finding a lasting solution of such persisting unemployment frazzle by taking an extreme step. And what such an extreme step is, you hardly can trigger even an idea about. A study conducted on unemployment problem has revealed that a large number of suicides committed by many youths happens to be the result only of widespread unemployment.

Though many sentimental youths are left with no option except ending their traumatic life by committing suicide, many physically strong youths enter into the world of heinous crimes committing loot, robbery and rape. Going through many police records, it has been found that sole motive of many of the heinous crimes committed in the state is money. Need for cash compels the unemployed youths to get involved in many heinous crimes including murder as well in order to meet general requirements of their life.

Doesn’t the responsibility of such crimes, being committed by the unemployed youths, lie on the shoulder state authorities? Yes it does, but unemployment menace affecting each sector in the world has exacerbated the unemployment problem beyond. Even the state government, despite being well introduced with the increasing unemployment menace all over the state, cant kill the devil of unemployment by providing each unemployed youth the job of of his/her own choice.

But there is a ray of hope provided by banks for the unemployed those who want to survive without encountering any financial problem in their life. It is the financial assistance offered as secured unemployed loans and unsecured unemployed loans.

Also known as collateral, the secured loans are sanctioned against immovable property of the unemployed youth, while the unsecured loans are sanctioned by the banks or licensed creditors only after going through the previous credit record of an unemployed youth. As the sole purpose of unemployed loan is to help an unemployed youth meet his/her indispensable needs, the interest rate, against the unemployed loan, also is kept much lower. Helping an unemployed youth survive till he gets a suitable job, the unemployed loans meet all the general requirements of youths by charging a very nominal rate of interest.

The secured unemployed loans are sanctioned against the immovable property valued by the creditor or bank. In case an individual fails to repay the loaned amount under specific terms and conditions agreed upon, the respective amount of debt is recovered by the crediting bank by confiscating or mortgaging entire property of respective unemployed youth. Though it is a very rare case, the banks adhere to it as a precautionary measure or effective alternate of recovering the loaned amount of money, sanctioned to a youth.

Apart from the secured unemployed loan, there is another category of unemployed loans, known as unsecured unemployed loan. Unsecured unemployed loan also ameliorates the pathetic situation of unemployed youths by providing them desired amount of money looking into theirs previous credit record. Unsecured unemployed loan has no any prerequisite or unacceptable terms and condition unlike the secured unemployment loans. The unsecured unemployment loan doesn’t cause any problem to the unemployment youth as just after scanning a good credit history of an unemployment youth does the bank grant a desired amount of loan under unsecured unemployment loan scheme. What is looked into by the creditor is only the capability of unemployed youth to repay the loaned amount.

Nothing stays long, so does the unemployment as well. As far as unemployment is concerned, it is a fugacious one which no any unemployed youth should be afraid of. Rather an unemployed youth should tame it with a great courage so as to make his future a glorious one.

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