Whether you're dreaming of a vacation, a great wedding, a home renovation or your favorite gadget, you don't have to wait any longer to make your dreams come true. Make life perfect with applying Personal Loans with digital media. But to know whether the digital palteform you choose are verified or not.
Now availing of a personal loan is possible via instant loan apps. Here are listed some important things to Consider Before Taking Personal Loan from Loan Apps.
- Verify If the
Online Loan Apps Are Genuine
Not all online loan apps available in the market are genuine and authorized by the RBI. Check if your lender has a physical address and is authorized by RBI and not decide upon the lucrative offers by scam companies.
- Compare The Market Rates
Compare the interest rates offered by different vendors before deciding on one. The figures will be available to you via their online loan app. There are also finance aggregators who will list down interest rates of top NBFCs on their websites for easy comparison.
- Know your CIBIL score
Check your CIBIL score and try to improve it before applying for loans to avoid any rejections. Additionally, low CIBIL rates can lower the interest rates for you.
- Calculate the EMI
Once you zero down on a lender, use their free EMI calculator to understand your instalments based on the loan amount and tenure. Early EMI calculation will help you plan your budget beforehand.
- Miscellaneous Costs
Research thoroughly for miscellaneous charges and hidden costs like penalties and GST processing fee and more before going ahead with an NBFC.
Fullerton India Instaloan app is a dedicated instant personal loan app that provides personal loans up to 25 lakhs at a starting interest rate of just 11.99%. Install now!
