You have two choices when it comes to loans. Either walk-in to the branch and meet a bank personnel or do a comparison through an online portal, which offers you a comparison and also backed by a call from an executive that provides you every piece of information.
Compare loans through an online portal
Take the case of Joshua, who went through an online portal for comparison. Of course, he knew that one of the best benefits would be the lowest interest rates, but, there are other benefits as well.
He went an applied through an online portal for comparison. He got a call from the online portal executive. Now, he could get all his queries answered.
He was told that if he opted for Bajaj Finance and Standard Chartered Bank there would be no prepayment charges on the outstanding loan.
He was also told that if he opted for HDFC Bank, there would be a 4 per cent charge on the outstanding loan amount that is prepaid. If he prepaid Rs 1 lakh back, there would be a whopping charge of Rs 8000. He probably saved this amount by going online and making the right choice and loan requirement that suited him the best.
Where could be get a comparison like that, if not from an online portal?
He was also told that a particular finance company was offering gift vouchers for personal loans beyond a certain sum.
Now, we just gave an example of personal loans. Imagine the executive from the online portal calling and giving all information on home loans from prepayment charges to processing charges to interest rate comparisons.
It makes your job all the more easy. You would have to otherwise visit each bank and NBFC portal to find the best rates, benefits, charges etc.
Not only for availing loans, you can also do and must do a comparison of insurance as well.
You can also visit Goodreturns.in for buying insurance online. We have featured comparisons of most of the best insurance service providers in the country
You can visit a host of online portals for loans and other comparisons. It will save you time and is likely to offer you the best interest rates and charges.