Things to Check / Ask before taking Personal Loan

Things to Check / Ask before taking Personal Loan :
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1) Rate of Interest

2) Floating interest or Diminishing

3) Processing Fees

4) Minimum & Maximum Tenure

5) Is pre-closure can be done, if yes what is the % charges for doing pre-closure

6) Is Part Payments allowed, if yes any charges for that and also what is the minimum amount can be paid partly?

7) When can i start doing part payments

8) Is insurance is applicable for this Loan

9) How many days it will take to process the loan?

10) How much extra i'm paying after the tenure chose by us?

11) What will be the final amount which will be credited to my account? (Believe me this varies from the calculation we make.)

12) Documents needs to be produced for loan processing.

13) If you have other loans say personal loan, and if it get bounced in last 3 months then banks will not provide loan. Please check this too.

Note :
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1. Check with the bank person for the lowest Rate of Interest. Banks give low interest for employees who work in Tier 1 companies and sometimes banks offers low

interest. Please check before accepting what they says.

2. Always compare with two to three banks atleast and decide which one will be best suits as per your needs.

3. Check for waiver in processing fees, banks give discount in processing fees if they own bank accounts in that bank.

Leave your comments if something can be added up to the above list.