Not sure if you have noticed, but the number of calls I
am getting, offering a Personal Loan at low rates has increased multi-fold. The
number of spam emails is also increasing.
The interest rates have fallen sharply as well. Loans that
charged 15-18% annual interest rates in the past, are now being offered at
12.5%. The offers also include discounts on processing fee.
Interestingly this has happened despite the fact that RBI
has not yet decreased interest rates. But this is likely an impact
of the prevailing liquidity in the market. Of the various banks, Stan C seems to be offering the lowest
rates on personal loans (checked online and this phenomenon is happening in UK
market as well).
Anyways, if you are looking for a personal loan, this is
perhaps a good time to consider taking one.
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