Future is completely unpredictable and cash crunch can occur at any point of time. Someone may face an emergency accident or someone may face a sudden down in their business or it may happen that someone decides to purchase a house but don’t have enough fund for all these things. These situations always come unknowingly and to tackle them the only thing we can do is be prepared and have some savings. But it may happen that even savings will not be enough to get out of these situations. So what’s the option left then? Borrow? The answer is obviously yes. Borrowing money is the only option left in this kind of situation. Borrowing money from any bank or NBFCs in form of Loans is always considered best in comparison of borrowing from any relatives or local moneylenders. But in some case it may happen that when you decide and go to a bank for a loan your application gets rejected or it would take a long duration of time to process the loan. To avoid situation like this it is always suggested to have good Financial Habit which can help You Get a Loan Fast.

7 Financial Habits for a Faster Loan Process

Be On Time with Your Bills

Being timely with your bills is always a good thing. Paying your loan EMIs, credit card EMIs and utility bills on time shows you are responsible enough to wards your responsibilities and duties. This habit also leads to a good credit score which can make your future lending easier.

Try To Pay More Than The Minimum Balance Limit

Always try to pay more than the minimum required limit. This will make your outstanding amount reduced and it will make your loan end before the expected time. Even by doing this you can save a lot which you had to pay on the interest. Never use your credit card up to the full limit. This doesn’t look good and shows you don’t have a good financial condition. This Financial Habit will help you to get a loan Fast.

CIBIL Report and CIBIL Score

Credit report is the thing which any lender keeps in consideration before any lending. So, it’s a good thing to know about your CIBIL. At least check your CIBIL once in a year so that you can know whether you need to improve or is it sufficient and if improvement is needed try to improve it in every possible way. In some case it may happen that you find a mistake in your report. Contact your lender and credit bureau and ask to them for the correction and correct update.

How to Maintain a Good Credit History

Research For a Good Lender and Know Your Options

If you have decided to go for a loan then it is very important to decide your lender wisely. It is only the lender on which the whole loan process depends from processing time to disbursal and even many more things like interest rates and other charges. If you opt for a good lender you will enjoy the complete borrowing process and the loan disbursal will be fast. Otherwise if you lender is not good the whole borrowing process will be full of stress and tension.


Nowadays loans are the best option to borrow money from. But try to avoid opting for a loan as much as you can. It is more important to do if there is some already existing loans on you. If there is a loan there will be EMIs and paying EMIs is the worst past of loan that too if you have to pay EMI of many loans. The other thing you should keep in mind before applying a loan is that your total monthly EMIs including all your loans should not exceed 50% of your monthly salary.

Which is Lighter on Pocket- Secured Loan or an Unsecured Loan?

Number of Loans

Apply for a loan only when required. Never be in rush to have a loan. Applying for a loan frequently is always against to the people as it shows they are credit hungry. Moreover Credit Hungry applicants are scrutinized in more detail than a regular applicant and there is more chance of being rejected. Even to have more number of loans means paying more on EMIs. So, think twice before going for a loan.

Proper Application.

The above-mentioned points would only make sense if the applicant applies properly. Applying properly means that the application should be completely filled and duly signed along with the photograph and other required documents for the loan (varies for different loans and different lenders).

Your Employer and Your Loan Eligibility

A correct application is:

  1. Duly filled application with genuine information,
  2. Proper required documents and photograph(s) with the application,
  3. Applying for the eligible loan amount and tenure.

If you do so, there will be no chance for rejection of your application and even it will be processed quickly. The more difficult it would be for a lender to have all the required information and verify them about the applicant the lesser would be the probability of the loan getting approved. Too many red-flags are a put-off for any lender and are signs of credit un-worthiness of the applicant. All the information provided to the lender should always be clear, organised and genuine. This way it becomes quick and easy for the lender to check and verify all the details and proceed with the loan application, hence decreasing the loan processing time. Not only at the time of applying for a loan, but these above-mentioned points should always be taken care of, so that a loan is always readily available to you.