Personal loan, Sept. 2 -- Before applying for a personal loan, applicants must consider several crucial factors. The borrower must ensure that the interest rate is affordable, there are no hidden charges, the lender is credible, and the loan is disbursed on affordable and convenient terms.

What if you get a personal loan deal from a lender, and there is another lender with a better deal on offer? To make sure that you do not lose out on the best deal, it is recommended to make note of these six points.

I. Interest rate: First, borrowers should make sure that the rate of interest is affordable and not very high. It is advisable to compare the interest rates between different lenders so that you get the best deal.

II. Hidden charges: The...