The moment an individual decides to avail a personal loan online, the first and foremost thought that comes to his mind is none other than the interest rates. And, why not, after all, rates play a pivotal role in an individual’s financial lifecycle. Yes, they can either make or break the situation for you. And, this is the reason why borrowers always look out for the lowest rates so as to enjoy a hassle-free journey. But apart from rates, there is another factor that one should look out before saying yes to a lender. Any guesses? Well, it’s none other than finding the best lender, which is of course equally important so that you can have a smooth journey ahead.
And as far as availing an unsecured credit facility is concerned, who else is better than Aditya Birla Finance Personal Loan. That’s Right! Being a renowned and reputed name in the industry, there is no denying the fact that this lender is preferred by many. But before you decide to apply for the same, it is important that you need to know a few important factors. So, without wasting any time further, let’s get started…
#1. Interest Rates: When it comes to rates, they are always on the priority of many. After All, there are many things which are directly related to the same. Currently, the rates offered by the lender range between 14%-26% per annum. Talking more about the same, the lender is offering the lowest personal loan interest rates so that your EMI and Interest Outgo burden can easily be reduced. So, before you apply for this credit facility, make sure you have gone through the rates before.
#2. EMI: Next factor on which you need to pay attention is your equated monthly installments. Before you apply for this credit facility make sure that your monthly installments are pocket-friendly so that you can easily repay your loan in the future. I don’t know whether your monthly installments are going to be affordable or not, you can use a personal loan EMI calculator online so as to know the exact and accurate calculations of your EMIs. This online tool helps you with the calculations so that you can take a calculative decision. After all, an EMI is an important factor that can be a game changer.
#3. Credit Score: A three-digit numeric summary is no doubt a deciding factor that many lenders do consider before offering the loan to a borrower. An applicant’s credit history and repayment record is actually a gateway that allows him to enjoy a lucrative offer. Usually, a score of 700/750 out of 900 appeals to the lenders and is worthy enough in grabbing the best deal. Thus, it is always advisable to maintain your score and that can easily be done by making payments on time.
Hope this article on Aditya Birla Finance personal loan online was worth reading for you and you will keep the above points in mind while applying for this unsecured credit facility.