If you need some urgent money for purposes as per your preferences, then you can always rely on the unsecured personal loan. The unsecured personal loan is given on the basis of your creditworthiness, and you don’t need to submit any collateral. Based on your eligibility, you may access up to Rs.25 lakh from leading lenders in India. But before applying for the loan, you ought to consider some do’s and don’ts. Read on! Do’s of unsecured personal loans
2. Compare all offers online and go for the best deal Before opting for the unsecured personal loan, you should always compare all loan deals online and pick one that’s best for your needs. You can do that on a third-party website for free. 3. Go through the loan’s fine prints The fine print of the loan contains vital loan details like the repayment tenure, late payment charges, prepayments, defaults, foreclosure and more. Knowing all in advance can make you aware of what to pay and when. Don’ts of unsecured personal loans 1. Don’t default Defaulting on the unsecured personal loan can hamper your CIBIL score and affect your eligibility for the next loan. Hence, always make timely EMI payments and never default. 2. Don’t use the loan money for your desires The unsecured personal loan can be used without any restrictions, but it must not be availed for non-essential things or your desires. It is an emergency loan after all, and it must be used for covering your needs, and not desires. Bajaj Finserv offers pre-approved offers on personal loans and much more. Its purpose is to simplify the loan processing. You can explore your pre-approved loan offers after sharing your basic details such as your name and mobile number. Additional Read: Know Everything About Unsecured Personal Loan
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |