Banks frequently give pre approved Personal Loans to consumers that have a good track record of repaying their debts. It is frequently available at reduced interest rates. It is also available if the consumer has no credit history, based on factors such as income and savings history. A pre approved Personal loan option for certain individuals. There is no need for collateral or security. A person with a strong credit history is qualified for a pre-approved Personal Loan. This loan has a rapid processing period and is issued in seconds.