With dozens of banks and NBFCs offering personal loans, finding the right lender can be confusing. The key is to look beyond just the interest rate.
Points to Consider Before Choosing a Lender
- Interest Rates & Processing Fees – Compare total costs, not just the advertised rate.
- Loan Tenure & EMI Flexibility – Choose a plan that fits your budget.
- Customer Service Quality – Quick support matters during emergencies.
- Prepayment & Foreclosure Rules – Some lenders charge extra; others don’t.
- Online Reviews & Transparency – Read real user feedback before deciding.
Conclusion
Always select a lender that offers transparency, flexibility, and reliability. A slightly higher rate is fine if the service is smoother and faster.Introduction