Personal Loans
What to check before choosing a personal loan
Dhaniti Editorial Desk20 Aug 20266 min read
The interest rate is only part of the picture. Processing fees, prepayment terms, tenure flexibility and the way interest is calculated all affect what you eventually repay.
Compare the total outgo across the full tenure rather than the monthly instalment alone. A longer tenure lowers the EMI but usually increases total interest.
Read prepayment and foreclosure terms before signing. If you expect a bonus or a change in income, the ability to prepay without penalty can matter more than a small rate difference.
This article is for educational purposes and does not constitute financial advice.
