Personal Loans -What You Should Know Before You Get A Personal Loan

Learn How You Can Create Your Own Residual Income
Without having to take out personal loans

Personal Loans: a loan that is obtaining an amount of money from a financial organization for individual use. People might utilize the money for almost anything; some instances are a trip, a vehicle, home renovations or costs consolidation. The borrower will make regular monthly settlements to the economic institution repaying the amount obtained plus interest. Individual loans offer people the economic ability to make investments without saving the funds initially.

This was the definition of personal loan
The only thing that’s wrong with it is that after you loan this money and spend on the stuff mention above, you will still need more money to spend again
If this money doesn’t make you any money you will always be in Need ..

-Who Benefits the Most From A Personal Loan
When you Take a personal loan it benefits you in the beginning as you get the money that you need to pay for whatever that you need at the moment
But really in the long term, the only person it benefits is the Bank.
They get to get the same money that they borrow you but twice as much and sometimes 3 to 4 times as much, as the years goes by and you get more in debt…

Personal Loans For Students
It’s a cycle that is played by many…
I remember when I went to College, I went to this expensive school
Even after all the financial aid and the loans that I took to pay my tuition
The Financial adviser would still encourage me to get more personal loans
To spend money on books, computer and so on..
I’m sure if you went to college you can relate to that…
But later on when it’s time to pay for them, the load doesn’t feel as easy like it was when getting those student loan

If you are not going to use the money to make you more money in order to pay it off, I would definitely discourage anyone into getting a personal loan, as it put you more in debt, and after you borrow it, you will always need more MONEY …

The main key is Figure out how I can Make money to give my ownself a loan, or to be the one giving out loans to people and make them pay me as the Year goes by…
Learn how to build RESIDUAL INCOME which is what the banks owner study the ability to do that…

If you want to learn how to Grow RESIDUAL INCOME daily like I do
Make sure you check the LINK above
And learn how to leverage the internet to make money
Triple, qua-triple your investment to be Free from taking personal loans

FREEDOM is actually what you need, once you get it, money is just another object in life
While most people are doing the extreme for it, it will come to you easily and frequently…

To Your Success !!!!

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Details on my NEW Course

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The five essential steps to get the cheapest personal loan.
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Hello and welcome to FundooMoney, your 24X7 buddy for all your money matters. Whether it is emergencies, festival season or major family events like marriages, people reach out for personal loans. Since these loans are not backed by any collateral, they come with high interest rates. In this backdrop, how do you get the cheapest personal loan? We will tell you about five essential steps you need to take to do, that but in just a little while.

When you are scouting around for a personal loan, hunt for bargains on interest rate and fees. Here are five essential steps:

Do your research
You can do online research to find the personal loan interest rates of various lenders by checking out their websites. You can also visit the sites of web aggregators who deal with online loans. They will provide comparisons of interest rates of personal loan from many lenders at one place and even help you with their personal loan calculators.

Select 5 lenders with lowest base rate
Shortlist five lenders providing the lowest personal loan interest rates. Typically, large public sector banks offer the lowest rates. However, some private players also offer very competitive rates. Just in case you don’t get the exact interest rate for a lender’s personal loan, you may use lenders’ base rate. The loan rate would be based on it. Select the lenders with lowest base rate.

Find the right lender
Different lending institutions such as banks, target different customer segments. Some target salaried people working in the private sector, while some look for government employees, even as others prefer professionals, self-employed and businessmen. Study the eligibility criteria and various personal loan schemes offered by shortlisted lenders. Based on the match of their personal loan offering and your profile, select a suitable lender.

Bargain for a lower interest rate
Lending institutions like banks generally offer the rack rate at the time of loan application. So, there may be some scope of bargaining in the interest rate to be charged. Check your credit score before applying for the loan. If you have good credit score and suitable profile, bargain hard for some discount on the interest rate.

Seek a discount on the processing fee
You can take advantage of a good credit history i.e. influenced by your loan repayment track-record, and suitable profile by seeking discount on the processing fee.

We hope you found this useful. Do share with us and others on this channel your smart tips on getting the best personal loan. For more such actionable personal finance information and regular uploads, subscribe to our channel. Also, visit our website, download our mobile app and stay connected with us on Instagram, Pinterest and Slideshare.

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