Home » basics of home loan » Golden Rules to follow before thinking to get a Loan

With the growing demand of different things in the life, there are a lot of changes being observed with the requirement for life style. To full fill these demands we take on with a loan that is being offered by various banks and private financial organizations. But do you ever feel it a better option. 75 % of people will surely say yes. To certain extend it is right but at the same time it is even not justified. It is important that you check out with some of the basic points like assets requirement on behalf of comfort ability, caution, stressed and some of the alarming needs of our life. These are applicable to bring on loan and its proper utility in every one’s life.

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Try to take as much is required:-

Some time, people move on with more and take on a huge amount from any bank as a purpose of loan. But that really is not justified. As a smart burrower it is important that you must choose on the required amount or even less to compensate at the right time. Just try to take a simple loan that can be paid back easily. As per an intelligent rule it is said that, your EMI’s must not exceed 15 % and for personal loans it must not exceed more than 10 %.

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Taking the repayment time as short as possible:-

To repay back the loan amount, it is always preferable to take quite a less of time to revert back the money. This is going to bring on a perfect set of dealing with a right amount of offering in every EMI. The working tenure must not be more than 30 years which might cause a big problem in every case.

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Try to get back the money to bank with a regular payment:-

This is one of the most important parts of the loan taking. It’s because you must try to avoid a huge interest which becomes difficult to pay back. Try to avoid missing any EMI of the loan which might put you into a great trouble. It is important that you take on a perfect chance on the EMI payment every time you try on your hand to it.

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Avoid borrowing money:-

Even if you are offering with every time EMI it does becomes an issue some time to revert back the complete amount. So to make that trouble out you can easily bring on with borrowing. That is what many people think on. But it’s really not true. Do try to avoid borrowing as it may cause you a loss and not a gain in any cost.


Loan is an unusual requirement for people but don’t really try to make it an obligation for every time. Its good impact is counted on less and bad impacts are going to havoc on you.




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