Take your time to explore your choices. Not comparing loan options means you might miss lower interest rates and better terms.
One size doesn't fit all. Failing to understand your repayment capacity can lead to a loan too heavy on your finances. Ensure you're comfortable with the EMI.
Overlooking terms and conditions can result in surprises. Always read them to know what you're signing up for.
Beware of overstretching. Applying for multiple loans together can affect your credit score and create a financial burden. Apply judiciously.
Stretching too far? Opting for a longer tenure may seem comfortable, but it can cost you more in interest. Find the right balance for your financial goals.
Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.
