CreditFit is a service created by CreditMantri. CreditFit can improve your credit score and get loans with the best interest rates by using CreditFit. We have a group of experts who will provide helpful tips to improve your credit score. Read on to learn more about obtaining an advance loan and the importance of CreditFit to help you get the loan.
Five Steps to Follow To Get A Loan With Ease
1.Check the interest rates of different lenders:
Check out the interest rates offered by different lenders available. The interest rate significantly influences the amount of monthly EMI you will have to be paying. Your EMI will be more excellent when the interest rate is more significant. Choose the lender that gives you the lowest interest rates. Before you decide on a lender, check whether the company’s creditworthiness is good enough.
2. Verify the eligibility requirements and documents procedure:
Review the process of documentation as well as the eligibility criteria established for you by your lender. The criteria for lending comprise the borrower’s age, credit score and income, employment background, and other elements. The requirements for lenders are available on the lender’s site. The documents can also be uploaded electronically through the lender’s website.
3. Check the Monthly EMI
Enter the loan amount, interest rate, and term to calculate the amount of the loan EMI. It will then be shown in a flash. This will allow you to understand the monthly EMI you must pay. Understanding the month-to-month EMI will help you decide the best combination of the amount of the loan and the timeframe. In this way, you’ll feel confident in paying back the loan, and it will also assist you in managing your finances more effectively.
4. Process of loan application
The bank will accept the loan application if you meet all requirements for eligibility. Also, you must submit all your documents when applying for the loan. If the bank requests additional information or other documents, you must submit the data before the loan process starts. After the loan has been accepted, you will receive an email or phone call from the lender. The loan usually is disbursed in a single morning. For Personal, auto, and home loans, the approval process and disbursal can take between 2 and three days.
How Does CreditFit Help in Taking A Loan?
1. Before you apply for a loan, it’s vital to examine your credit score and work to improve it. If you don’t have a credit rating, you must build it. The credit score of your is essential to loan approval. You’ll get the highest rates of interest and quick loans if your credit score is excellent.
Credit Score Range and Interpretation
CreditFit from CreditMantri assists in establishing, monitoring, maintaining, and improving your credit score in various ways.
- Which Credit Product to Consider: We give you valuable insight into which credit products you can take to improve your credit score.
- Determine the accounts pulling the credit rating down: We thoroughly examine your credit report and remove those negative accounts that lower your credit score. We will then help you figure out how to fix the charges. We assist you in contacting a credit agency and resolving the issue.
- Credit mix analysis: We examine your credit file’s present mixture of credit products. We’ll then let you know the appropriate proportion of secured and unsecured credit products to improve your credit score.
- It helps you track your credit score: Examining and recording your credit score regularly is essential. This way, you’ll be able to quickly determine the reason for a decline in your credit rating. If you notice any errors, you can dispute with any of the bureaus to rectify them. We at CreditFit can assist you with this. When you sign up to CreditFit, you can file an account dispute for free once to The Equifax Bureau.
- Analysis of Previous Payment CyclesWe look at your previous repayment patterns, credit card bill payments, and the history of EMIs for every credit product you have. We will then inform you of the factors that affect your credit score. Ultimately, we advise you on how to increase your payments and consequently improve your credit rating.
- Pay Analyzer function: CreditFit comes equipped with the ability to analyze your spending. This feature will notify you regarding your payment due dates and track your daily spending habits. If you pay your debts punctually, your credit score will not suffer. If you follow your spending habits daily, you can determine what needs to be done to improve or maintain your credit rating.
- Study Past Repayment Cycles: We analyze your previous repayment patterns and timeline of EMI and the payment of bills from credit cards and more. For all of your credit-related products. Then, we clearly understand how your credit score is affected. Ultimately, we offer guidelines on how to improve your payment process and increase your credit score.
- Helps you track your Credit Score. You must monitor your credit score regularly and keep a record of it. In this way, you will be able to discern the reasons why your score is going down. If you notice any discrepancies, you can file a complaint to one of the bureaus to resolve them. We at CreditFit can assist you with this. After signing up with CreditFit, you can raise one-time, free account disputes through CreditFit. The Equifax Bureau. We will provide you with the most recent credit report each month for 12 months to monitor your credit score.
2. CreditFi helps you get loans at the best interest RatiosWe assist you with finding the most affordable loans with low-interest rates by comparing our 30 lenders.
3. To Lower the cost of your monthly EMIs: We examine your loans to determine if they are offered at the highest rates of interest available. If they are not, we advise you on how you can get higher rates of interest on your loans and lower the amount of your monthly EMIs
Conclusion
If you’d like to remain on top of your credit score and receive the highest interest rates on loans, sign up for CreditFit and receive valuable tips from our experts.
