Looking to apply for a personal loan? Find Here are 4 Factors of Personal Loan Comparison you must consider before taking loan. For more info visit here: https://www.fullertonindia.com/knowledge-center/things-to-consider-for-comparing-personal-loans.aspx

1. Things to
Consider for
Comparing
Personal
Loans

2. Agenda
1. Personal Loan Interest Rates
It determines how much you will pay in total over the life of the loan.
It's crucial to compare the annual percentage rate (APR) rather than
just the interest rate, as the APR includes any fees in addition to the
interest. Personal loan interest rates can vary significantly from
lender to lender, so it's vital to shop around to find the best rate.

3. 2. Loan Tenure
Personal loan tenures can
range from a few months to
several years. A longer loan
term may have a lower monthly
payment, but it will also result
in paying more in total interest
over the life of the loan.

4. 3. Additional Fees
There may be fees attached to personal loans,
such as origination fees, late payment fees, and
prepayment fees. Lenders charge origination fees
to cover the expense of processing the loan. If you
fail to make a payment or pay after the due date,
late charges will apply. If you pay off the loan early,
prepayment fees apply.

5. 4. Credit Score Requirement
If you have a lower credit score, you may not be approved for a loan or may
be offered a higher interest rate. your creditworthiness is represented by
your CIBIL score. A score above 750 on the CIBIL scale, which runs from a
scale of 300 to 900, is desirable. Poor debt management is indicated by a
lower credit score, which could lead to your loan application being declined
or your interest rate is increased.

6. https://en.wikipedia.org/wiki/Loan
https://www.fullertonindia.com/knowledge-
center/things-to-consider-for-comparing-
personal-loans.aspx