PERSONAL LOAN

Securing a personal loan with lower interest rates depends on your income, credit history, employer reputation, repayment track record, and relationship with your bank, all influencing loan terms

Here are few factors that determines the interest rate

Higher income increases your chances of securing a personal loan with lower interest rates, as banks assess your ability to repay.

A good credit score indicates responsible borrowing and repayment behavior, making you more likely to receive favorable loan terms

Employees of well-known companies are often seen as more stable, leading to potentially lower interest rates on personal loans.

A strong record of timely repayments can result in lower interest rates, while recent defaults may lead to higher rates or loan rejection.

A history of savings accounts or fixed deposits with a bank can enhance your standing, potentially yielding more attractive interest rates on personal loans