Personal Loan Statements: Uncover Hidden Fees, Protect Your Credit Score

• Regularly reviewing personal loan statements helps prevent costly surprises, fee shocks, and protects your credit score from accidental errors.
• Statements detail EMI breakup (interest vs. principal), remaining tenure, and outstanding balance, aiding prepayment decisions and budgeting.
• Reviewing statements can uncover unnoticed charges, fees, penalties, and alert borrowers to potential interest rate changes in certain loans.
• Checking repayment mode and auto-debit status ensures EMIs are processed correctly, preventing bounced payments and credit score damage.
• Proactive statement review empowers borrowers to manage loans consciously, avoid last-minute issues, and understand their borrowing behavior better.

Why It Matters: Reviewing loan statements prevents costly surprises and protects your credit score.