New Delhi, June 6 -- When you apply for a loan, you are supposed to follow a long-drawn process that kicks off with background research and culminates into disbursal of money directly to your bank account. Everything else falls within this spectrum.

Some applicants tend to get overwhelmed with the information available on public platforms. Meanwhile, one should at least be aware of the few key terms at the time of applying for apersonal loan. Although it will not change the outcome of your loan application, it will surely prepare you well before you sign the dotted line.

I.Credit score: When you apply for a loan, lenders invariably check your creditworthiness. This shows whether you have the ability to repay the loan on time. This is in...