Deals of Loan

5 Point Checklist for good CIBIL Score

Blog post   •   Dec 28, 2015 17:03 IST

  • Read carefully all loan documents: Before applying for any loans read all the loan application related documents very carefully. Get a Xerox copy of all the duly filled application documents and keep it with you.
  • Fill the entire details in presence: Self fill all the loan disbursal documents, agreement as far as possible or ask the loan providers bank guy to fill the agreement in your presence only. Also keep a copy of the all documents as proof of evidence.
  • Check the EMI cycle: Majorly the loan default occurs on the first EMI due date. This is because of lack of information of first EMI date. Banks have stated sending the EMI alert SMS to all customers and those are very helpful.
  • Always Pay the complete amount: Whenever the default occurs in any of loan and the customer want to repay the overdue amount, he should always pay the complete amount as settlement. Also he should get the payments receipts along with the all communication receipts, mails, letters etc.
  • Healthy Communication: Always write healthy mails, letters to the concerned banks and other financial service providers and keep very carefully. It will help customers when the issue goes to the consumer forum or any other dispute settlements agencies.