6 Things to Consider Before Transferring Your Loan
5. Terms and Conditions Governing Loans
It is the tendency of most people to ignore the fine prints stating the Terms and conditions of a bank. Anyways you don’t follow the herd, and before signing on the dotted line, carefully read all terms and conditions of both banks. As there are some banks which require it’s borrowers to buy insurance from a specific company or deposit a certain amount in fixed deposits account or open a number of saving accounts for self as well as family members etc. Apart from the sanction letter, also these “terms and conditions” and understand the pros and cons of such conditions.
6. Other Attached Frills on Offer
Don’t fall for the banks which offer additional facilities like free credit card and personal accident insurance etc. Ask yourself whether you really need them and if yes, then ask for more information regarding their terms and conditions. Since there are many cases where customers were mis-sold such offer, atleast you be watchful.
Read:
4 Reasons Why You Need a Financial Planner
