Unlock Low-Interest Personal Loans: 6 Expert Tips for Smart Borrowing

• Personal loans are popular due to no collateral requirement, but often come with high interest rates.
• Maintaining a credit score of 750+ and a strong payment history significantly improves chances for lower interest rates.
• Compare interest rates from various banks and NBFCs, and look for special offers during festivals like Diwali.
• Job stability, a good FOIR (Fixed Obligation to Income Ratio), and your employer's reputation influence loan approval and interest rates.
• Avoid common mistakes like applying without checking eligibility, ignoring hidden charges, borrowing more than needed, and delaying payments.