Personal Loan: Ask 5 Key Questions for the Best, Cheapest Loan!

• Evaluate interest rates beyond the banner: check if fixed/variable and how it impacts total payment based on your profile.
• Confirm the net amount credited after all fees; interest is charged on the full loan, not just what you receive.
• Understand prepayment and foreclosure rules, including lock-in periods and charges, as plans often change.
• Compare EMI, total payment, and loan flexibility (date changes, extra payments) for long-term convenience.
• Scrutinize penalties for late payments, bounce fees, and assess the lender's customer service and complaint history.

Why It Matters: The best personal loan offers true value and flexibility, not just the lowest advertised interest rate.