In India, many people rely on personal loans to cover major expenses like sudden medical bills, educational fees, home renovations and weddings. Thanks to easy accessibility, banks now offer online loans with approvals in just minutes. However, while personal loans can be helpful, they carry risks. Misuse or lack of proper knowledge can quickly lead to debt and harm your financial health. Being aware of common costly mistakes is essential to avoid these pitfalls.

Not Checking Credit Score

One of the biggest mistakes people make while applying for a personal loan is ignoring their credit score. Not reviewing it beforehand can increase the chances of rejection during the approval process.

It is always advisable to check your credit score before approaching a lender. A higher score can hel

See Full Page