Cash woes? A personal loan to the rescue!

    Personal Loan Tips


    • TIP 1#

      Compare EIRs: As with everything else, when you are planning to take a personal loan, you should always look around for the best deal. Your bank might tempt you with preferential rates but it’s always good to know what other banks are offering. Compare the effective interest rate (EIRs) on personal loans offered by different banks before making your choice. Also, don’t forget to keep an eye on any promotional offers being offered on such loans by different banks.

    • TIP 2#

      Early repayment charges: Your finances might be in a tight position today but nothing is permanent. Someday you might have enough funds to repay your loan before its due date. That’s why it’s important to know if there are any early repayment charges on the personal loan that you are considering. If you are sure to repay the loan early, you might want to look for a loan that doesn’t charge any fee for early repayment.

    • TIP 3#

      Read the terms and conditions: These disclosure documents generally contain the most important information related to your loan, which your bank may or may not inform you about. You should always read these documents before signing the agreement. Make sure to check all types of charges involved, including late payment charges and preclosure penalties.

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