After you get the loan, it’s important to make sure that your lender is giving you everything they promised. A provider can only deduct a 10% fee upfront for processing and approval of a loan- so stay on top of them! Pay the loan installments on time to avoid incurring late payment fees, additional interest rate and late interest. Make sure the lender issues you a receipt every time you make any repayment of the loan amount towards your personal loan, and check it for correctness (e.g. name, amount, date). Make sure you receive a statement of account for all your personal loans at least once every January and July and check it for correctness (e.g. name, amount, date); and You should retain all statements of accounts and receipts of payments as documentation and evidence of payments.