Alert
By LoanPandit
January 22, 2024
Regularly review your credit report for errors or discrepancies. Correcting inaccuracies can improve your Cibil score before applying for a loan.
Research and select lenders known for working with individuals with low credit scores. Avoid predatory lenders to ensure fair terms.
Provide accurate and complete documentation during the application process. Incomplete or incorrect information can lead to delays or rejections.
Thoroughly read and understand the terms and conditions of the loan. Be aware of interest rates, fees, and repayment terms to avoid surprises later on.
Only borrow what you need and can realistically repay. Requesting an excessively high loan amount may raise red flags and lead to application rejection.