Pre-qualified vs pre-approved: Which personal loan option should you choose? | Mint

Pre-qualified vs pre-approved: Which personal loan option should you choose? | Mint

Source: Live Mint The phrases “pre-qualified” and “pre-approved” are commonly used in the context of personal finance, especially when applying for personal loans. Despite their apparent similarities, they are actually separate steps in the loan application process. Making educated borrowing decisions requires an understanding of the subtle differences between these concepts. What does pre-qualification mean?…

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