Katyaini Kotiyal

Clearing your loan repayments is an important financial milestone. But there is one more document that helps officially close the loop: a loan NOC. Many borrowers overlook it, even though this certificate can help maintain accurate records and avoid issues in the future.

Missing an EMI payment can happen for many reasons, like a sudden expense, a delayed salary, simply forgetting a due date, etc. But when a repayment is not made on time, it may become an overdue loan.

Two terms that sound almost identical but represent very different stages of the loan process. Mixing them up costs time, sometimes triggers an unnecessary hard enquiry on the credit report, and occasionally sets up expectations that the final application cannot meet.

Flight fares between Delhi and Goa have been known to double in a single week. Spotting a good deal is one thing. Having the full amount sitting in your account on the same day is a different problem entirely.

A lot of borrowers hear "your loan has been written off" and assume the debt is gone. It is not.

Your CIBIL score often becomes important when you plan to borrow money. A score of 730 can leave you unsure because it is neither very low nor very high. You may wonder whether it is enough to get a loan at a good interest rate, or if you should improve it first.

Aman had finally started getting regular freelance work. Then his old laptop began shutting down during client meetings. Buying a new one at once meant using all his savings, while waiting meant losing work.

Getting a rejection after waiting days for an answer is frustrating enough. Getting one with no real explanation makes it worse. Banks rarely tell borrowers the actual reason. 

You find the gold jewelry you want for your wedding, but the price makes you pause. Paying the full amount at once can put pressure on your budget, as there are many other wedding expenses without taking out a wedding loan.