LoanBoss Blog

Choosing the Right Bank for A Loan

13 Jun, 2012 By:admin in Personal Loan,

 

Whether purchasing a vehicle, investing in a house or stuck in a financial crunch, borrowing money from a financial institution is the best means of getting the required funds. As easy it may sound, borrowing funds calls for plenty of efforts. A person has to chart out a plan for his borrowing needs and implement it wisely so as to escape any trouble later on. 
Of all the stress one has to go through for getting a loan, finding a competent lender tops the list. Therefore, one should be very careful as choosing the right lender will not only eliminate the chances of any probable glitches, but will also help reduce the expenses of his undertaking. 
First and foremost, the borrower should look around which means consulting everyone who has an experience of getting loans. This may include family members, friends, colleagues, kins and even neighbors. One can ask them about their lenders and how their experiences were working with those lenders. One can make a list of all the lenders suggested by people and note down their pros and cons as well. 
Prodigious information about loans and lenders can be conveniently found over the Internet. So,one can spend a few good hours online searching for competent lenders. One can also search as per the list made after consulting people he knows. This will help him zero down his search and save plenty of time which can further be used to compare different lenders. While one is at it, he can search for competitive offers available online in order to nail a lot better deal. 
Once he has narrowed the list down to minimum five lenders, he can call up the customer service of each one and inquire about interest rates, loan tenure, application fee and other costs. He must ensure that he is asking the same questions to each lender. It's important because he will have the same information to make comparison easier. In case he asks different questions to each lender, he will be, let's say, comparing the guavas, apples, grapes, pomegranates and pears. While with the exact details at hand, he will be comparing guavas to guavas. 
One more thing to consider here is that the information gathering part should not take more than two to three days because if one takes longer, the market will probably fluctuate, resulting in different answers from each lender. During this digging into various lending institutions phase, one should also ask the institutions' representatives to explain the different types of loans. One should express his financial requirements and ask the representative to spell out the kind of loan that would best suit his situation.  

Whether purchasing a vehicle, investing in a house or stuck in a financial crunch, borrowing money from a financial institution is the best means of getting the required funds. As easy it may sound, borrowing funds calls for plenty of efforts. A person has to chart out a plan for his borrowing needs and implement it wisely so as to escape any trouble later on. 

Of all the stress one has to go through for getting a loan, finding a competent lender tops the list. Therefore, one should be very careful as choosing the right lender will not only eliminate the chances of any probable glitches, but will also help reduce the expenses of his undertaking. 

First and foremost, the borrower should look around which means consulting everyone who has an experience of getting loans. This may include family members, friends, colleagues, kins and even neighbors. One can ask them about their lenders and how their experiences were working with those lenders. One can make a list of all the lenders suggested by people and note down their pros and cons as well. 

Prodigious information about loans and lenders can be conveniently found over the Internet. So,one can spend a few good hours online searching for competent lenders. One can also search as per the list made after consulting people he knows. This will help him zero down his search and save plenty of time which can further be used to compare different lenders. While one is at it, he can search for competitive offers available online in order to nail a lot better deal. 

Once he has narrowed the list down to minimum five lenders, he can call up the customer service of each one and inquire about interest rates, loan tenure, application fee and other costs. He must ensure that he is asking the same questions to each lender. It's important because he will have the same information to make comparison easier. In case he asks different questions to each lender, he will be, let's say, comparing the guavas, apples, grapes, pomegranates and pears. While with the exact details at hand, he will be comparing guavas to guavas. 

One more thing to consider here is that the information gathering part should not take more than two to three days because if one takes longer, the market will probably fluctuate, resulting in different answers from each lender. During this digging into various lending institutions phase, one should also ask the institutions' representatives to explain the different types of loans. One should express his financial requirements and ask the representative to spell out the kind of loan that would best suit his situation.  

 

 

 

Comment:(12)
on 10 Jan, 2017

EDWARD JONES FINANCE IS THE BEST PLACE TO GET A LOAN {Jonesloanfinance@yahoo.com} Text +1(307) 241-3712,
God bless you sir, I will not stop telling the world about your kindness in my life, I am a single mum with kids to look after. My name is Emily Thomas and I am from Convention Center Drive, Miami Beach, FL . A couple of weeks ago My friend visited me and along our discussion she told me about EDWARD JONES FINANCE, that they can help me out of my financial situation, I never believed cause I have spend so much money on different loan lenders who did nothing other than running away with my money. I have been in a financial mess for the pass 7 months now, She advised I give it a try so I mailed him and explain all about my financial situation to him, he therefore took me through the loan process and gave me a loan of $390,000.00 at a very low interest rate of 2% and today I am a proud business owner and can now take good care of my kids, If you must contact any firm to get any amount of loan you need with a low interest rate of 2% and better repayment schedule, please contact EDWARD JONES FINANCE email:- {Jonesloanfinance@yahoo.com} OR Text +1(307) 241-3712 or go to there page on jonesloans.bravesites.com

on 25 Aug, 2016

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on 14 Aug, 2016

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on 06 Oct, 2015

Hello ,
Dear sir.
I need 500.000.00 Lakh Loan For My Business..Please inform me.
Thank You !

on 11 Aug, 2015

To those who are in needs of money. You can apply at loansolutions[dot]ph. It caters Personal Loan, Vehicle loan, home loan and business loan.. Just visit for more information.

on 08 Aug, 2015

Are you interested in getting a short or long term loan, have you been turn down but your bank for one reason or the other, well this is the right time for you to get your loan at E-LOAN-FINANCE. all you need do is for you to let us know how much you want to apply for contact us today at grantmichelleltd@gmail.com.

on 21 Feb, 2015

Dear sir,
we are applied for personal loan,all verification is completed but not credit in amount

on 09 Feb, 2014

Hi,
I need a loan against property of 25 lacks.
and I dont have itr etc.
pls help me how can I get this loan.

on 26 Aug, 2013

I need 30 lakh home loan.my property value 25 Lakh.plz give me details for home loan.

on 14 Jun, 2013

Helllooo i want rp 500000 lakhs for loan. Plz help me. How can i get & what is the process. I m an government servant @ uttrakhand power corporation ltd. My monthly income is 14341 rp.

on 06 Jun, 2013

i wnt 10lakh loan wt is the process,kindly help me.thanks

on 17 May, 2013

I NEED 20 LAKH LOAN ON PRORERTY MARKET VALUE THIS PROPERTY IS 60 LAKH

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