Best Personal Loan You Want To Choose | Blunders That Be Avoided
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Transcript of Best Personal Loan You Want To Choose | Blunders That Be Avoided
The following are some of thebiggest mistakes that you canmake you applying for an axisbank best personal loan, SBIbank best personal loan, etc.:
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Skipping HomeworkIf you want the best personal loan
available, then you have to work forit- there is no way around it.
First and foremost, you musteducate yourself on the various typesof best personal loans that you can
apply for .
Not Checking CIBIL ReportThe only way you stand a good
chance of having your loanapplication approved is when your
CIBIL score is high. In fact, it’sextremely challenging to get a bestpersonal loan for a low CIBIL score.
Settling for the Interest Rate Offered
Different banks offer differentpersonal rates to their customers.
For instance, as of today, axis bankbest personal loan is offering a rateof 15.50%-24%, SBI personal loan of
12.55%-17.65%, HDFC Bank of11.49%-20%, etc.
You have the right to negotiate with your lender regarding the interest rate offered
In fact, if your credit rating is good,then you can easily get a better rate
than the one initially offered.Unfortunately, many people don’t
know about this and simply agree towhatever rate is offered by their
banks.
Prepayment Fine
A prepayment fine is a penaltythat you have to pay if you
decide to repay a loan soonerthan the actual date of the final
payment.
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