Personal Loan: What is a debt trap and how to avoid getting into one?
Financial constraints are a reality for many at some point in their lives. In challenging times, taking out a loan can provide temporary relief. However, this can sometimes lead to a more significant problem known as a debt trap. What is a debt trap? A debt trap occurs when you take on new debt to […]
How to avoid high interest rates on personal loans? Here are 8 ways
Although lenders provide personal loans with varying interest rates, some loans carry exceptionally high interest rates. Nonetheless, managing high interest on personal loans isn’t insurmountable. By prioritising strategies to reduce your interest burden, you’ll naturally discover methods to minimise the interest you pay on your loan. Here are several essential tactics to steer clear of […]
How to check CIBIL score for free? A step-by-step guide
CIBIL score, which ranges from 300 to 900, signifies borrowers’ creditworthiness. Banks and other financial institutions use these scores as one of the factors to determine their eligibility for loans. It is, therefore, considered important to check the score which can help you monitor your financial health. One can check their CIBIL score on the […]