I second 173232,
Private banks do negotiate the rates but the same is not true for PSU banks. Their rates are fixed. Also, due to shorter repayment schedule in comparison to Housing Loans, the EMI also worked out to be preety high. In some cases even 7000 per lac. I think the benefit of Personal Loans is for those type of people who took money on much higher interest from local financers. Local financers charge very heavily. Their money almost doubles every six months.
Dear 173232, you must be having good track record of repayment as they are offering you 11% rate of interest. Also, you have picked a unique username. Anything special about it????
Last edited by gouravadv : 1st December 2007 at 10:20 PM.