Now you can get easy loans at an electronics store if you follow these tips

It isn’t rocket science to know that you can buy expensive electronics stores by taking instant loans. However, not everyone can get a loan instantly. There are a few things that you need to do in order to buy those fancy electronics through EMIs. BI India lists down those few important things to do before you apply for a loan at the electronics store.

Keep track of EMIs and credit cards

“Keep a regular check on all the loans and credit cards and ensure to make payments on them before the due date month-on-month,” suggested Harshala Chandorkar, COO, CIBIL.

Set payment alerts

She also advises that in order to better manage payments of credit card bills, one should set up an alerts that can constantly remind you of the dues.

Guaranteed loans:

Its always best to keep track of your guaranteed loans and make timely payments. “The guarantors CIBIL TransUnion Score gets impacted if there is a delinquency or default on the loan repayments by the principal borrower,” she said.

Review CIBIL Report and CIBIL Transunion Score

Before applying for any loan, credit card or finance for electronic goods ensure to check your CIBIL Report and CIBIL TransUnion Score. This practice will help you avoid any unpleasant circumstances in the form of loan rejection. You can always work towards improving your credit history and CIBIL TransUnion Score in case it is low and apply for loans or finance opportunities once it improves.