💨 Abstract

This article discusses instant personal loans, highlighting hidden charges that can increase the total cost. These include processing, part-prepayment, foreclosure, GST, late payment, bounce, and loan cancellation fees. The eligibility criteria for personal loans include age, employment, minimum income, and credit score requirements. Smart borrowing strategies such as comparing lenders, understanding terms and conditions, and making timely payments are also suggested.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖