Playing safe with personal loans
The Reserve Bank of India recently hiked the repo rate by 25 basis points, making short-term borrowing expensive for banks. In the given scenario, it is just a matter of time before banks pass on the high cost to borrowers.
Some banks have already realigned their interest rates. But even in these days of high interest rates, there are measures that potential borrowers can take to ensure that they get money at the lowest possible price.
While the most prudent approach would be to avoid spending money that you do not have, there are times when it is imperative you borrow.
Under such circumstances, it is best to follow some ground rules to ensure that you get the best possible deal when it comes to interest rates.
Source: http://economictimes.indiatimes.com
Posted by
at
08:23:50
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