5 Quick Tips to Choose the Best Personal Loan Online - PowerPoint PPT Presentation

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5 Quick Tips to Choose the Best Personal Loan Online

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A personal loan is the easiest way to raise funds and quickly fulfill all your future plans and emergency needs. Here you can find five important tips for choosing the right personal loan. Apply for Personal Loan online up to Rs 20 lakh* at low interest rates with minimal documentation. For more info visit here: – PowerPoint PPT presentation

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Date added: 24 June 2020
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Title: 5 Quick Tips to Choose the Best Personal Loan Online


1
5 Quick Tips to Choose The Best Personal Loan
Online
2
WHAT IS A PERSONAL LOAN?
Personal Loans are unsecured loans taken by
individuals from a non-banking financial company
(NBFC) with the sole purpose of meeting their
personal or immediate needs. With the advent of
the online services offered by the NBFC, you can
get the money within 24 hours.
3
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4
1 COMPARE INTEREST RATES
The interest rate is probably the first things
youre going to look at when choosing a personal
loan. Compare and contrast the rates effectively
to gain an idea about how much you will be
required to pay interest rates on your loan.
5
2 COMPARE FEES AND OTHER CHARGES
Every personal loan involves a monthly
administration fee, but some financial
institutions fees are higher than others lenders
and some loans are subject to hidden costs. These
can add up and make your personal loan some
costly.
6
3 COMPARE FLEXIBLE REPAYMENT OPTIONS
If you want to pay off your loan before the
tenure is over, then you will have to pay a small
charges. Its could be 2 to 5 of loans remaining
balance amount.
7
4 COMPARE AFFORDABILITY OF YOUR EMI
Before taking the loan, calculate the EMI portion
first. It is very important to take care of the
EMI amount you are going to pay every month. You
should ensure that you can manage the EMI
payment, given your income and other mandatory
costs without any default or penalties.
8
5 LOOK OTHER LOANS AND OPTIONS
Once youve done comparison, its time to apply
for the personal loans. But if you need a small
sum of money then try to consider asking friends
family, or perhaps spending on your credit
card. Remember one thing always do not borrow
more than you can payback.
9
https//en.wikipedia.org/wiki/Loan
https//www.fullertonindia.com/personal-loan.aspx
REFERENCES
https//www.fullertonindia.com/knowledge-center/ho
w-to-choose-a-personal-loan.aspx
10
THANK YOU!
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