Alok works in a leading technology MNC. He likes to splurge, get the latest gadgets, travel with friends and eat out on weekends. Often this means he splurges more than his salary in a few months. He uses his credit cards to run these expenses, earning points on cards. However, this year the bubble seems to burst.
He was unable to manage the credit card outstandings. Even if he tried to repay the minimum outstanding amounts, he was running short of cash. To add to his misery, he is a new dad. He has expenses he never imagined.
Alok spoke to a friend who suggested going for a personal loan to consolidate all credit card outstandings and restart a clean financial life. Alok took the friend’s advice and started looking for a personal loan. He got confused on how to avail the best personal loan interest rate.
- Apply with top financial institutions and compare the offers.
What looked easy was a lot of trouble. He will have to pursue applications with multiple institutions. Also, every additional application reduces his credit score.
- Search over the internet for the best personal loan offers.
- The Internet is everything-good, bad and ugly. Mostly it’s full of advisors with personal interests who lure customers with fake offers.
- Apply via a DSA who can scout for the best personal loan interest rate.
- DSA’s can be shady as they take copies of your documents. Multiple applications are made with and without your permission. It may spoil your credit score. Also, DSA might give you a costly deal to earn a high fee.
- Contact a famous loan aggregator.
- The famous aggregator might be in the business of selling your data. Once we apply, we get bombarded with promotional emails, SMS and calls from them and other financial institutions.
Alok eventually spoke to the same friend, who recommended Alok to apply for his financial troubles. The friend recommended LoansJagat.
- Alok applied on LoansJagat, filling a simple form with KYC and requirement details.
- Alok received loan offers from more than 40 Banks and NBFCs.
- Alok got help from a dedicated loan advisor. Alok evaluated the loan offers and selected the option with the best personal loan interest rate. He also looked at the other terms and conditions to choose the offer that matched his requirements.
- Alok had to complete the documentation and agreement. He got assistance from the dedicated loan advisor to complete the formalities.
- The loan gets disbursed within a few days.
Alok breathed a sigh of relief. He was free of multiple loans that were a result of his credit cards splurge.
If you are looking for a personal loan, the choicest way to find the best personal loan interest rate is to apply using LoansJagat. LoansJagat has an experience of more than 15 years in helping individuals and corporates get access to the best financial products. LoansJagat has tie-ups with over 40 Banks and financial institutions to help you get the best offers.
