Personal loans, April 21 -- When you apply for a personal loan, it is important that you aim to get it at the lowest possible rate of interest. What will you do to make that happen? It is imperative to apply for a number of financial institutions and get the best possible deal. Here, we explain a step-by-step process to follow that can help you secure the best personal loan deal.

I. First of all, identify the requirement of loan - whether it is to spend on a wedding or for some personal emergency, etc.

II. If you have identified that, make a plan of total expenses and try to borrow slightly more or less based on what are your alternative sources of funding. For instance, if you can chip in Rs.one lakh and you require Rs.5 lakh then it i...