Play one lender against the other, bargain on the upfront fees, apply towards the month-end Try all the tricks in our bag to get the best personal loan deal for you!
Remember that all personal loan interest rates are negotiable. You can always play off one bank against the other to some extent.
Once you have reached the limit of negotiation on interest rates, you can negotiate on other charges, especially upfront fees.
Bundle your personal finance request with the loan requirements of your friends and colleagues and thus offer a larger loan portfolio to the bank.
You can also try the month-end trick by negotiating till the 23rd or 24th of the month: Every bank has monthly loan targets for its staff and as the month-end nears, the bank offers slightly better terms to enable them to fulfill targets. However, this is unlikely to work where the income documentation is not absolutely clear.
Give full details of your existing borrowings (including any credit card borrowings) and show good repayment track record to all lenders: Remember that most banks will check with the credit bureau anyway to find out about your existing borrowings and repayment track record. So, making full disclosure of your existing borrowings makes sense and can actually be used to reduce rates further.