Some tips for your personal loan
There are some tips has given to Negotiate your Personal Loan
* Remember all rates are negotiable. You can always play off one lender against the others to some extent.
* Once you have reached the limit of negotiation on interest rates you can then negotiate the other charges especially upfront fees.
* Bundle your loan request with the loan requirements of your friends and colleagues and thus offer a larger loan portfolio to the Bank.
* You can also employ the month end trick by negotiating till the 23rd or 24th of the month. Every Bank has monthly targets for its staff and as the month end nears the Bank offers slightly better terms to enable them to fulfil their target. However, this is unlikely to work where the income documentation is not absolutely clear.
* Give full details about your existing borrowings (including any credit cards) and good repayment track record to all lenders. Remember most banks will check with the Credit Bureau anyway to find out about your existing borrowing and repayment track record. So making full disclosure about your existing borrowings makes sense and can actually be used to reduce rates further.