Before even thinking about your first loan, you should always check your affordability. While a loan reduces the monetary burden of your purchase, it is also a commitment to pay an agreed sum as a monthly repayment (also called an Equated Monthly Installment or EMI). So before you sign up for your first loan, check what monthly repayment/ EMI amount you can comfortably pay, after deducing your prior expenses and commitments and after keeping some savings aside for a rainy day.
Home Credit Hint : Select a finance partner who can help you adjust your EMI amount to something you are comfortable with, after taking into account your monthly expenses and savings! Home Credit offers you the flexibility to set your EMI amount basis your affordability and monetary comfort.