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8 Myths Indians Have About Personal Loans

Thursday, 20 November 2014, 00:44 IST
By SiliconIndia
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BANGALORE: Personal loans are one of the most popular sources for quick money. One of the hassle free ways to get your monetary requirements fulfilled almost immediately would be availing unsecured loans.



Despite the rise in its demand, there are several people who still shy away because of some misconceptions they have heard and not bothered to confirm. The point is to stay informed of the actual picture, so that you can make the right choice and not falter at the time of application.



Let’s have a look at some of the common personal myths:



1. Don’t even think of applying for a loan if you have bad credit



If you have accrued some bad credit and have, avoided applying for a loan ever since, you need not do it any longer. loanThough lending companies do look at the credit history to check the eligibility, there are plenty of other lenders who offer loans for those with bad credit. These loans can help you pay off your debts and even raise your credit score.

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