Almost everyone needs money. Money is needed to run one's livelihood. In such a situation, people do business so that they do not face financial problems. But sometimes people have to take loans for some big work. These include marriage, building a house, education, and many other reasons due to which people often have to take a loan. But it seems difficult for everyone to get a loan from the bank because some have low CIBIL scores, some have fewer documents, etc. In such a situation, people plan to take a loan through a broker. But wait, if you are also planning to take a loan from a broker, then you should take special care of some things. Otherwise, you may also get into trouble. So let us know what these things are. You can learn about this in the next slides...
While taking a loan from a broker, keep these things in mind:-
Number 1
Brokers make a commission in exchange for getting you a loan but keep in mind that never give any money upfront. Do not pay any commission until the loan money arrives in your bank account. Otherwise, you may get cheated.
Number 2
Whenever you take a loan through a broker, try to do all the work in writing. Many brokers say one thing and do another. Therefore, take care of all the documents and work only in writing, so that the broker will not be able to back out.
Number 3
You will find many brokers in the market who will ask you to get a loan but do not connect with any broker without knowing them. First, research a broker thoroughly and make sure it is the right one. Only after this connect with the broker, because many can cheat you by posing as fake brokers.
Number 4
Whether you take a loan from a bank or through a broker, you have to give blank cheques. In such a situation, be careful before giving this check to the broker. Do not give the check until you get the loan approval letter in your hand. Try to give the name of the bank on the cheque.
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