Tips for Getting Great Bank Personal Loan Interest Rates

When applying for a personal loan it is important that you attempt to get a great interest rate from your bank. Even a mere 1% difference in interest in a loan can save you several hundred dollars. Here are 7 basic tips for getting great interest rates from a bank loan.

  1. Fix any discrepancies on your credit report. If you have some bad credit do whatever it takes to restore this credit.
  2. Shop around for the best possible interest rate. Research for more than one offer.
  3. Never accept the first offer from your bank, always try to bargain for a lower rate. If your bank does not offer a great interest rate on your personal loan find a bank that will offer a better rate.
  4. Get loan applications over the web. Now-a-days you can find great low interest personal loans online.
  5. If you can wait, then hold off till the market is on a downward turn and you will typically get a better rate.
While it is important to shop around for the best offer it is usually wise to not take too long. If the market improves you may lose your current great bank loan interest rate.

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