Things to Keep in Mind While Getting Loan Online to Improve Credit Score
● Select a loan amount that you can easily repay within your fixed tenure period. You can use an EMI calculator to check EMIs that you need to pay. And while calculating, make sure it should not be more than 40% of your total income.
● Multiple lenders in the market offer different loan amounts at different interest rates. Before you settle down, evaluate and compare to find the best one that will suit your requirements. Also, make sure the lender has a good reputation and provides loans at lower interest rates.
● Choose a loan amount as per your repayment capacity and also select a longer tenure.
● Do not make multiple loan applications as rejection will affect your credit score and lower the chances of availing a loan.
● If you wish to improve your credit score, make the repayments regularly that will ensure a good credit history in the long run.
● Keep an eye on the credit report and be sure all the payments are updated on the portal. If you see any mistake, take action immediately.