Applying for a loan while being unemployed might not get you high approval chances for the loan you are looking for. Lenders would need to see a source of income so that they will have an assurance that you will make your payments on time. Having a guarantor will give you a better chance of qualifying for the loan. But even though if you don’t sign a guarantor you can always go for a secured loan.
A secured loan can be availed against collateral. For example, a gold loan is a secured loan where you can pledge your gold as security. With collateral in hand, your lender will be assured that you would repay your loans. Making a prepayment will also assure your lenders that you are responsible enough to pay back the loan and approve your loan application. Having a good credit score is also very important as your lender would want to know your repayment capabilities.