A personal loan can be a life-saver. It funds you during an urgent cash requirement. However, before borrowing, one must assess the terms and conditions of the loan – what the loan costs, what the tenure is, what the late payment fine is, and so on. To get the ideal deal on a personal loan, make sure to keep these factors in mind. Assessing Credit Score Prior to Application Most financial institutions check a borrower’s credit score when assessing their creditworthiness and repayment capacity. They also only vet individuals with a certain income level before considering an application. There is a possibility for an application to be rejected on account of a poor or average score.