The amount you actually receive
Confirm the sanctioned amount and the amount expected to be disbursed after any deductions. Ask how processing fees and other charges are paid, and whether an optional product is included. A headline loan amount may differ from the money available for your purpose.
Rate and overall cost
Check the rate type, reset conditions, all fees and the repayment schedule. Ask for a clear explanation of the overall borrowing cost and any charges that may arise later. Compare offers using the same amount and duration.
Monthly obligations
- EMI amount and first payment date.
- Payment method and repayment frequency.
- Late-payment and failed-payment charges.
- Any initial period with a different repayment structure.
- How changes to rates or payment dates are handled.
Security and early repayment
For secured borrowing, understand what property or other security supports the loan and what obligations apply. Ask about part-payment, foreclosure and document-release processes. Read the actual conditions rather than assuming all products work the same way.
Keep the final records
Retain your signed agreement, repayment schedule, offer and relevant communications. Confirm the lender’s official support and complaint channels. If a detail is unclear, get an explanation before accepting the offer.