4 Pointers You Need for Your Personal Loan

By | September 4, 2015

Bet you didn’t know this about Personal Loans! A few pointers you absolutely need.

Apply Now

When you need financial support in the fastest possible way, a Personal Loan is your best bet. A popular choice for most, they are a boon given the short processing period.  Also, if your financial management has been good, along with positive payment credit history, you’re pretty set for a Personal Loan.

What’s the ideal situation for a Personal Loan?

Mostly when you’re facing a financial crunch. A lot of people choose to apply for a Personal Loan because of its sheer convenience and accessibility. However, it is highly recommended to consider one in times of immediate need.

Additional Reading: SBI Personal Loan

Can I apply in more than one bank?

To keep your credibility intact with your bank, it is best to apply one at a time. In case your bank notices multiple applications during verification protocol, you might lose your credibility with your bank even if your documents are in good shape.

Additional Reading: HDFC Personal Loan

Advantages of being a working professional?

There are. Especially if your employer has a tie-up with the potential bank you’re considering applying in. This combination has a high possibility of offering you a better rate of interest. Always a good thing, isn’t it?

Additional Reading: Axis Bank Personal Loan

Will I still be in my comfort zone?

To ensure you’re comfortable paying for what you borrowed in a time of emergency, most financial experts recommend your loan not to exceed more than 30-35% of your total income. This way, you steer clear of defaulting and make it through your difficult times with minimum stress.

In a fast-paced world, a Personal Loan can often solve an unforeseen financial emergency. It’s easy and simple, and with some planning, you don’t need to ask for help when you can help yourself!

Get A Quote


All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.

Leave a Reply

Your email address will not be published. Required fields are marked *