I availed total five Loans from HDFC till date, three personal loan a, one vehicle loan and one home loan. I closed one personal loan in last year and vehicle loan closed in FEB 2017, currently three loans are open. I suggest you to avoid few mistakes which I made.
- I Suggest you to apply for personal loan instead of two wheeler loan, because two wheeler loan interest are higher than personal loan interest, two wheeler loan you will get interest above 18% and personal loan from 11.5 to 14%.
that means you can save money if you take personal loan to purchase Bike,
While applying for personal loan, you have to provide exact amount in first application only, youngster like me always change decision while sanctioning loan, for Eg while applying if I ask for 1 lac loan but while giving final clearance I extend to 2 lac, here there is NO financial loss but you will get two loan enquiries on your account which will affect CBIL Score, because number of enquiries reduces your credibility.
Never miss any EMI at least for HDFC, in JULY 2015 my CIBIL score was 798 which is really good but I missed two HDFC EMI by one day, HDFC has not offered any loan to me for six months then thereafter, though I am loyal customer but that does not sense anything unless you maintain discipline in paying EMI, at that time I have taken loan from Bajaj Finserv on higher EMI.
I request New Comers to take lesson from these and help yourself for better financial wealth.