You may not fit into your banks
credit policy though you have
an existing relationship
New RBI rules ensures transparent costing
Funds high risk profiles and ensures need is fullfilled within
time
Closing charges are also minimal or NIL in certains cases,
how ever it is kept transparent
PeoplePeople take loans for business expansion,home purchases, education, and investments,not just for financial crises.
Lenders also consider
income stability
debt-to-income ratio
repayment history against the score
Many lenders offer tailored loans for low-income
groups, Self-employed individuals, and Salaried
Multiple loans don’t necessarily hurt your credit
score if repayments are made on time.
A single credit inquiry has minimalimpact; But it will portray you as acredit greedy customer.