Sensitive information such as PAN data can be misused to claim a fraudulent tax refund or obtain a credit card or a loan.
'If your loan application gets turned down by one bank, do not apply immediately to several others.' 'This makes you appear credit hungry and possibly in some form of financial distress.' 'Multiple enquiries affect your credit score adversely,' advises Mohan Jayaraman.
As education loans are given on a floating-rate basis (and not fixed), one needs to account for probable spikes in the EMI while choosing the loan tenure. Loans are available for up to 15 years, which could lower your EMI and ease your repayment burden, advises Mohan Jayaraman.
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
While you can always correct them, the sooner you do it the better it is for you, says Sanjay Kumar Singh
If variation is over 50 points, write to the bank and bureau immediately to correct the discrepancy
Consumer loans or personal continue to record the highest fraud incidence.
Before applying for a home loan, make sure you have not been delinquent in the past six months at least.
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