Personal Loan: Avoid Costly Mistakes, Prevent EMI Overload

• Avoid common mistakes when taking personal loans to prevent high EMI burden.
• Choosing longer tenures for lower EMIs significantly increases the total interest paid.
• Always compare offers from multiple banks and NBFCs, as even a small interest rate difference can save a lot.
• Carefully read all terms and conditions, including processing fees, insurance, and prepayment charges.
• Borrow with a clear plan, set up auto-debit, and maintain a buffer to ensure timely EMI payments and protect your credit score.

Why It Matters: Helps you avoid common personal loan mistakes to prevent financial burden.