🧾 3 Things to Check Before Taking Any Loan

Thinking of Taking a Loan? Pause and Read This First

Whether it’s for a new phone, your dream bike, a wedding, or a home—loans can help, but only when you use them smartly.

Before signing on the dotted line, make sure you check these 3 essential things.
Vizzve Finance breaks it down so you don’t get trapped in regret.

1️⃣ Interest Rate — The Real Cost of Borrowing

A low EMI can be misleading if the interest rate is high.
Check:

Is the rate fixed or floating?

Is it flat rate or reducing balance?

What’s the APR (Annual Percentage Rate)?

💡 Vizzve Tip: Always compare rates across 2–3 lenders, not just what’s easiest.

Even a 1–2% difference can mean ₹10,000s saved over time.

2️⃣ Fees & Hidden Charges

The loan amount isn’t the only cost. Ask:

Processing fees

Foreclosure penalties

Late payment charges

Insurance bundling (is it optional?)

🧠 Vizzve Checklist: If a loan provider can’t explain all charges clearly—walk away.

3️⃣ Repayment Flexibility

Before you commit, know:

Can you prepay the loan early without extra cost?

Are you allowed to skip a month in case of emergency?

What are the consequences of delayed payments?

🛟 Vizzve helps you calculate EMIs with buffer zones—so your wallet can breathe even when life hits hard.

🔁 Bonus Tip: Know Why You’re Borrowing

Ask yourself:

Is this a need or a want?

Will the loan increase your value (education, business) or just lifestyle?

✅ Vizzve Score: We help you assess loan-worthiness before applying, so you stay confident, not confused.

🧠 FAQs

Q1: Is it bad to take loans?

No. Loans are tools. Just use them wisely—like safety scissors, not swords.

Q2: What’s a good EMI-to-income ratio?

Keep EMIs below 30-40% of your monthly income. Vizzve calculates this for you.

Q3: Should I always avoid “No-Cost EMI”?

Not always. But read the fine print—sometimes the cost is hidden in product pricing.

🚀 Final Word

“A loan can build your dreams—or bury your savings. It all depends on what you check first.”

Make smart money moves with Vizzve Finance—your trusted partner in understanding, comparing, and managing loans without stress.

Published on : 8th July

Published by : SMITA

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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed.