Personal Loan of Rs. 10 Lakhs
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Assess Your Financial Situations

Take a close look at your current financial status. Understand your income, expenses, and existing debts. Ensure that you have a clear understanding about your ability to repay the loan

Determine the Loan Amount Needed

Instead of randomly accepting the amount offered by the bank or NBFC, be sure about the amount you need right at the beginning. This will allow you to stop overburdening yourself with debt

Check Credit Score

One of the important things that lenders consider before sanctioning the loan is the applicant’s credit score. Most lenders require applicants to have a good credit score of above 700. As a borrower, it is your responsibility to maintain a good credit score. Access your credit score periodically and take measures to improve your credit score

Research Lenders

Explore various lenders, including banks, NBFCS, Credit Unions and other institutions. Compare their interest rates, fees, and customer reviews to find a reputable and cost-effective option. At Fincover, you will have the chance to compare important parameters such as interest rate, fees and charges from multiple lenders

Understand the Repayment Structure

Familiarize yourself with the loan’s repayment schedule, including the EMI (Equated Monthly Installment) amount and due dates. Ensure that you can comfortably meet these obligations.