Planning to take loan, do not take decision in haste, keep these things in mind


It is important to take care of many things before taking a loan. Your CIBIL score, ability to repay the loan, bank offers should all be assessed.

New Delhi:  There are definitely occasions in life when you feel the need to take your loan. Most people take loans for things like buying a house or car. There are many important things that you should pay attention to before the loan. We are telling you about some such important things.

  • If you are taking a personal loan then the banks see your civil score requirement. Banks give it the most importance while giving loans. Civil scores are in the range of 300–900, a score above 700 is considered good.
  • Getting loan is also dependent on your profession Like what you do, what is your salary. Non-salaried people find it difficult to get a loan and if they get it, then on a higher loan.

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  • For how long the loan is to be taken and while deciding the loan installment, you should look at your financial situation and should choose them very carefully. The loan should try to settle as soon as possible.
  • Many banks impose a penalty on repaying personal loans before time because banks get less interest on paying the loan before time. Therefore, be sure to know about the prepayment, in this time, study the rules of the bank well.

  • The bank where you have an account, the bank where you are using credit card. Take a loan from the same bank. Banks give loans easily to their regular customers .
  • From time to time, banks offer many loan related offers. If you are planning to take a loan, then watch these offers carefully, gather information about the offers of all banks. Only then apply for the loan.
  • You must have an emergency fund to deal with any difficult situation. Try to spend at least 6 months in this emergency fund. Money should also be kept for EMI in this fund.


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