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They say the 40s are the new 20s and contrary to popular belief, it isn’t too late to apply for a personal loan. However, with the age factor, there are certain points you need to keep in mind when applying for a loan. 1) Assess your reasons for taking the loan thoroughly, remember your retirement isn’t far off. 2) Maintain high credit score and your documents should be in place. 3) Do a quick interest rate comparison. 4) Know your lenders reputation for keeping it fair. 5) Read the fine print and learn about the charges.