{"id":6028,"date":"2019-03-27T11:34:00","date_gmt":"2019-03-27T11:34:00","guid":{"rendered":"\/blog\/?p=6028"},"modified":"2023-06-20T12:41:27","modified_gmt":"2023-06-20T12:41:27","slug":"want-to-take-a-home-loan-in-future-build-your-credit-history-by-taking-a-personal-loan","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/want-to-take-a-home-loan-in-future-build-your-credit-history-by-taking-a-personal-loan\/","title":{"rendered":"Want to take a Home Loan in Future? Build Your Credit History by Taking a Small Personal Loan First"},"content":{"rendered":"\n<p>Everybody wants to have a house of their own. But its not easy these\ndays given the high prices that real estate commands everywhere. So more often\nthan not, you will end up taking a home loan in future.<\/p>\n\n\n\n<p>But do you know that your credit score can have an impact on the\ninterest rate you get. At times, the difference between rates offered to\napplicants with good and poor credit score can run into 1 to 2%. And this small\ndifference translates into a difference of several lacs in interest paid.<\/p>\n\n\n\n<p>So it does make sense to try and improve your credit score before\napplying for a home loan.<\/p>\n\n\n\n<p>One simple way to improve your score is to take a small <a href=\"https:\/\/tata-blog.osian.dev\/personal-loan.html\" target=\"_blank\" rel=\"noreferrer noopener\">personal loan <\/a>first and then repay it regularly and without defaulting or delaying any payments. What this does is that it will slowly improve your credit score. Once your personal loan is paid off, you can then check your credit report to assure yourself of the score improvement. Finally, you can approach the lenders to apply for a <a href=\"https:\/\/tata-blog.osian.dev\/home-loan.html\">home loan<\/a>. And if they find your score to be good, you will get the loan at much lower rates than you would have got earlier with a not-so-good score. And that is exactly what you want them to do.<\/p>\n\n\n\n<p>Most people don\u2019t realize the <a href=\"https:\/\/tata-blog.osian.dev\/blog\/trends\/what-is-a-good-credit-score-benefits-of-having-a-good-credit-score\/\" target=\"_blank\" rel=\"noreferrer noopener\">importance of having a good credit score<\/a>. Its only when they are offered a very high rate of interest or when their application is rejected that they realize its importance. <\/p>\n\n\n\n<p>So this goes out to all future home loan borrowers &#8211; do start working on your credit score from today itself. As it takes time to improve the score, you might not have enough time when you try to do it very close to your <a href=\"https:\/\/tata-blog.osian.dev\/blog\/home-loan\/home-loan-application-process-in-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">home loan application<\/a>.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-vivid-cyan-blue-background-color has-background\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/personal-loans\/apply-now-personal-loan#!\">Apply Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Everybody wants to have a house of their own. But its not easy these days given the high prices that real estate commands everywhere.<\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/personal-loan\/want-to-take-a-home-loan-in-future-build-your-credit-history-by-taking-a-personal-loan\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":6029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-6028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Want to take a Home Loan in Future? Build Your Credit History by Taking a Small Personal Loan First - TATA Capital Blog<\/title>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Want to take a Home Loan in Future? Build Your Credit History by Taking a Small Personal Loan First - TATA Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Everybody wants to have a house of their own. But its not easy these days given the high prices that real estate commands everywhere. Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/want-to-take-a-home-loan-in-future-build-your-credit-history-by-taking-a-personal-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-27T11:34:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-20T12:41:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/credit-history.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/want-to-take-a-home-loan-in-future-build-your-credit-history-by-taking-a-personal-loan\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/want-to-take-a-home-loan-in-future-build-your-credit-history-by-taking-a-personal-loan\/\",\"name\":\"Want to take a Home Loan in Future? 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