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Tips for taking out a personal loan


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These tips will lead you to the right path and know what is the best personal loan in the market.

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Tips for taking out a personal loan

  1. 1. Tips for Taking out a Personal Loan
  2. 2. The personal loans price war is hotting up. With rates falling, we’ve put together a top tips for taking out a personal loan. Look closely, read clearly! Shop around Your bank may say it offers preferential rates to its current account customers but you might still find there are cheaper loans available elsewhere. Check the small print Before you apply for a loan, check the small print to see if you’re eligible. Some best buys come with some onerous conditions.
  3. 3. Check your credit rating if your credit rating is not in good shape, you may be offered a more expensive deal than the low rate loan you originally applied for. Don’t apply for too many loans When you apply for a loan online, most applicants will leave a “footprint” on your credit record which lenders check before approving a loan. Think about early repayment charges Many loan providers will apply a charge if you wish to do so, so it’s a good idea to check how much this might cost before you apply for a particular deal.
  4. 4. Know the risks of secured loans don’t sign-up unless you’re 100 per cent sure that you will be able to meet your repayments And don’t forget…. Louise Martinez - Assistant Writer for