How to Avoid High Loan Fees: Simple Steps for Savvy Borrowers

Research Lenders Before Applying

Check interest rates, processing fees, and other charges to find the most suitable option.

Review Terms Carefully Before Signing the Loan Agreement

Understand charges like prepayment penalties and late payment fees to avoid surprises.

Improve Your Credit Score

A 750+ credit score can increase your chances of securing a lower personal loan interest rate.

Avoid Late Payments

Set up auto-debit or reminders to ensure timely EMI payments and avoid late penalties.

Borrow Only What You Need

A lower loan amount can lead to a lower interest rate, reducing overall loan costs.

Looking for Competitive Personal Loan Interest Rates?

Apply for an SMFG India Credit personal loan with interest rates starting at just 13%* p.a!

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* Please note that this webstory is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us