When it comes to loans, misinformation is everywhere. Let’s bust some common loan myths that can stop you from making informed financial decisions.
❌ Myth 1: You Need a Perfect Credit Score
✅ Truth: Many lenders offer loans to people with average or recovering credit.
❌ Myth 2: Gold Loans Are Risky
✅ Truth: Your gold is securely stored and insured. It’s one of the safest loan options.
❌ Myth 3: Multiple Loan Applications Help You Compare Better
✅ Truth: Too many hard inquiries lower your credit score. Use pre-approved offers or eligibility checkers instead.
❌ Myth 4: Prepayment Always Attracts Penalty
✅ Truth: Many lenders (like us!) allow prepayment without extra charges.
Final Word: Always verify facts before making borrowing decisions — and consult a trusted loan advisor for clarity.
