ADVERTISEMENT
  • About us
  • Podcast
  • Contcat Us
Tuesday, June 10, 2025
International Khabar
No Result
View All Result
  • Login
  • Breaking News
    Dr. Ishari. K. Ganesh Founder Chancellor of VISTAS Donates Rs. 10,00,000 to World Carrom Champion Ms. Khazima on International Women’s Day

    Dr. Ishari. K. Ganesh Founder Chancellor of VISTAS Donates Rs. 10,00,000 to World Carrom Champion Ms. Khazima on International Women’s Day

    On International Women’s Day, Jaideep Mirchandani, Group Chairman Sky One, Highlights Women’s Role in Meeting India’s 20,000-Pilot Target

    On International Women’s Day, Jaideep Mirchandani, Group Chairman Sky One, Highlights Women’s Role in Meeting India’s 20,000-Pilot Target

    News Mall

    Exploring News Mall: India’s Premier News Portal for Global Readers

    HIV AIDS

    The Alarming HIV Crisis Among Students in Tripura: A Call for Immediate Action

    Arvind Entertainment

    Glamour and Talent Take Center Stage: Malkapur City’s First Fashion Pageant Show and Kids Ramp Walk

    Fake Profile Found Need to alert

    Identifying and Addressing a Fake Profile

    Trending Tags

    • Event
  • Politics
  • Business
  • World
  • Opinion
  • Technology
  • Entertainment
  • Health
  • Travel
  • Breaking News
    Dr. Ishari. K. Ganesh Founder Chancellor of VISTAS Donates Rs. 10,00,000 to World Carrom Champion Ms. Khazima on International Women’s Day

    Dr. Ishari. K. Ganesh Founder Chancellor of VISTAS Donates Rs. 10,00,000 to World Carrom Champion Ms. Khazima on International Women’s Day

    On International Women’s Day, Jaideep Mirchandani, Group Chairman Sky One, Highlights Women’s Role in Meeting India’s 20,000-Pilot Target

    On International Women’s Day, Jaideep Mirchandani, Group Chairman Sky One, Highlights Women’s Role in Meeting India’s 20,000-Pilot Target

    News Mall

    Exploring News Mall: India’s Premier News Portal for Global Readers

    HIV AIDS

    The Alarming HIV Crisis Among Students in Tripura: A Call for Immediate Action

    Arvind Entertainment

    Glamour and Talent Take Center Stage: Malkapur City’s First Fashion Pageant Show and Kids Ramp Walk

    Fake Profile Found Need to alert

    Identifying and Addressing a Fake Profile

    Trending Tags

    • Event
  • Politics
  • Business
  • World
  • Opinion
  • Technology
  • Entertainment
  • Health
  • Travel
No Result
View All Result
International Khabar
No Result
View All Result
cricket score
ADVERTISEMENT
Home Banking

Top 5 Mistakes to Avoid While Applying for a Personal Loan

International KhabarbyInternational Khabar
May 17, 2025
in Banking
Reading Time: 4 mins read
0 0
A A
0
Top Personal Loan Mistakes

Top Personal Loan Mistakes

0
SHARES
3
VIEWS
Share on FacebookShare on TwitterShare on Tumblr
ADVERTISEMENT
image_pdfimage_print

Personal loans have become instrumental for individuals seeking quick and easy access to funds. Whether it’s for debt consolidation, home renovation, or covering unexpected expenses, a personal loan can provide the financial support borrowers may need. However, the application process requires careful consideration to avoid common pitfalls that could impact the financial health of applicants.

Shriram Finance, one of the topmost choices in the NBFC (Non-Banking Financial Company) sector, has revolutionised its various investments and loan products by reducing the hassle of paperwork and enabling a fully digital process. It offers a seamless online experience for customers-from applying for a personal loan to uploading the required documents-ensuring potential borrowers can apply for Shriram Personal Loan from the comfort of their homes.

READ ALSO

Understanding Credit Scores and Their Importance

IDFC FIRST Bank Introduces Exclusive Package Designed for Senior Citizens

5 Common Mistakes to Be Careful of While Taking a Personal Loan

ADVERTISEMENT

Applicants must take utmost caution while applying for a personal loan and avoid these mistakes:

  1. Not Comparing Loan Options: The importance of researching and comparing different financial institutions to find the best interest rates and loan terms is non-negotiable. Ensure you consider the total cost of the loan, including processing fees and prepayment charges, to make informed decisions.
  2. Ignoring the Importance of Credit Score: One of the most common mistakes to make is neglecting your credit score. A healthy credit score generally ranges between 650* to 750*. It is a critical factor in determining loan eligibility, interest rates and loan terms. The credit score requirements usually vary with financial institutions. It is advisable to check with the bank or NBFC before applying for a loan.
  3. Choosing the Wrong Loan Type: Different types of personal loans are designed for specific needs, such as debt consolidation, home improvement, or major purchases. Choosing the wrong type can lead to higher costs or unsuitable loan terms. It is important to identify the purpose of the loan and select the type that best suits your needs.
  4. Borrowing Beyond Repayment Capacity: Many applicants make the mistake of borrowing more than they can comfortably repay. Ensure that you always assess your financial situation realistically and only borrow an amount you can repay without straining your finances.
  5. Ignoring Prepayment Penalties: Borrowers may often neglect to inquire about prepayment penalties. Some lenders impose fees if you pay off your loan early. This can significantly impact your overall savings if you plan to repay the loan quickly. Its essential to ask about prepayment penalties before signing the loan agreement to avoid unexpected costs and make informed financial decisions.

 

ADVERTISEMENT

Shriram Personal Loan: A Wise Option to Accessing Quick Funds

Here are some of the compelling features of Shriram Personal Loan that make it one of the top choices for personal loans in the industry:

  1. Collateral-Free Loans: You can secure a personal loan without the need for any collateral. Borrowers can seamlessly avail loans without pledging any assets.
  2. Quick Disbursals: With pre-approved personal loans, you can experience swift processing and receive the loan amount in your account within a short span.
  3. Flexible Repayment Options: You can choose a repayment tenure that suits your financial needs, with options up to 84 months based on the loan amount you require.
  4. Competitive Interest Rates: Shriram’s personal loan interest rates start as low as 11%* p.a. and vary based on an individual’s creditworthiness, customer profile, and eligibility. A good credit score helps borrowers to negotiate better loan terms (incl. interest rates).

Conclusion
By being mindful of these common mistakes and considering the robust features of Shriram Personal Loan, borrowers can ensure a smooth and beneficial borrowing experience. Shriram Finance remains committed to offering reliable and customer-focused financial solutions, empowering you to achieve your financial goals with confidence.

About Shriram Finance
Shriram Finance is a leading diversified financial services company in India, offering a wide range of financial products and services across consumer, wholesale, and business finance segments. The company has a strong presence pan India with a network of 3,095 branches and an employee strength of 75,813 with an AUM of Rs. 233,443 crores. With a focus on financial inclusion and customer-centricity, Shriram Finance continues to empower individuals and businesses to achieve their financial goals.

Share this:

  • Post

Related

Tags: Shriram FinanceShriram Personal Loan
ADVERTISEMENT

Related Posts

Understanding Credit Scores and Their Importance
Banking

Understanding Credit Scores and Their Importance

May 22, 2025
20
IDFC FIRST Bank Introduces Exclusive Package Designed for Senior Citizens
Banking

IDFC FIRST Bank Introduces Exclusive Package Designed for Senior Citizens

February 8, 2025
3
India Shelter Reports Strong Q3FY25 Performance with 36 percent YoY AUM Growth and 54 percent Surge in PAT
Banking

India Shelter Reports Strong Q3FY25 Performance with 36 percent YoY AUM Growth and 54 percent Surge in PAT

March 18, 2025
3
Banking

CRISIL has Assigned AAA Rating to IDFC FIRST Bank

March 18, 2025
1
K Paul Thomas MD CEO of ESAF Small Finance Bank receiving the ESG Certificate from Rohit Inamdar CEO of CARE ESG Ratings Ltd
Banking

ESAF Small Finance Bank Scores High in ESG Rating Under SEBI Framework

March 16, 2025
8
Banking

India Shelter Finance Achieves 36% YoY AUM Growth in Q2FY25; PAT Surges 50% to Rs. 90 Cr

February 21, 2025
7

POPULAR NEWS

International Khabar

International Khabar: Your Gateway to Global News and Recognition

May 22, 2025
2.6k
SabKuchh Bazar Leading Indian Store to fulfill the shoppers requirements

Sabkuchh Bazaar: Your One-Stop Shop for Indian Sarees and Suit-Pieces

May 17, 2025
2.5k
We are Hiring

Join the Exciting World of E-commerce with OMBIKA E-commerce Services Pvt Ltd

March 31, 2025
2.2k
Detective Agency in India

NIDAAN Intelligence Services (I) Private Limited: India’s Premier Detective Agency

May 17, 2025
2.2k
KSS India

Recognizing Excellence: Avdhesh Kumar Singh Program Manager Kartik Shikshan Sansthan Ti Project Moradabad Honored by Health Department for Remarkable Work in HIV/AIDS

February 8, 2025
2.2k

Donate & Support us

Donate & Support us

EDITOR'S PICK

MAHE Introduces Asia’s First Mama Anne High-Fidelity Birthing Simulator at KMC, Manipal

MAHE Introduces Asia’s First Mama Anne High-Fidelity Birthing Simulator at KMC, Manipal

May 22, 2025
3
Unsung Heroes of Public Education Honoured at Shikshagraha Awards 2025 During InvokED 4.0

Unsung Heroes of Public Education Honoured at Shikshagraha Awards 2025 During InvokED 4.0

May 17, 2025
5
Axis Max Life Launches Bandhan 2.0 – an innovative Augmented-Reality Based Employee Onboarding Platform

Axis Max Life Launches Bandhan 2.0 – an innovative Augmented-Reality Based Employee Onboarding Platform

May 22, 2025
2
Financial Year 2024 25

Welcome to the Financial Year 2024-25!

May 17, 2025
621
ADVERTISEMENT

About us

International Khabar is one of the Leading Global News Platform from India, which will consist latest & updated news from the all over world.

Follow us

Donate & Support us

Donate & Support us

Recent Posts

  • Hibiki Presents ‘Hibiki – Making Harmony’
  • How to Get a Personal Loan Online in Minutes – A Step-by-Step Guide
  • L&T Finance Ltd. Completes the Acquisition of Paul Merchants Finance’s Gold Loan Business
  • Bajaj Allianz Life Achieves 99.29% Claim Settlement Ratio in FY 2024-25, Underlining its Customer First Promise
  • Off the Beaten Path: A European Summer with Minor Hotels

Newsletter

Categories

  • About us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Contact Us

© 2023 International Khabar

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Homepages
    • Home Page 1
    • Home Page 2
  • Breaking News
  • Politics
  • Business
  • World
  • Entertainment
  • Health
  • Opinion
  • Travel

© 2023 International Khabar

Scan the code
WhatsApp
Hello 👋
Can we help you?
Open chat
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version