Should I wait for Personal Loan interest coming down due to Budget 2014 ?

POSTED BY chinthub ON July 12, 2014 8:34 am COMMENTS (2)

Hi Friends,

I’m already in the process of getting a personal loan for a marriage expense in my family. The intended amount is Rs 3 lakhs and the bank offered me a very competitive rate of 12.75% per annum for the same.

In sight of the new budget released yesterday, will there any increase or decrease in the bank interest rates any time soon? Please advise if I shall go head with this loan processing or should I hold on for while so that the interest might go lower soon. I have a flexibility of 1 or 2 months only.

Appreciate any valuable suggestions of this behalf.

Thanks,

Chinthu

2 replies on this article “Should I wait for Personal Loan interest coming down due to Budget 2014 ?”

  1. chinthub says:

    Thank you !

  2. Credexpert says:

    Dear Chinthu,

    A rate 12.75% on a personal loan is reasonable. There may not be significant changes in the interest rates in the next 1 or 2 months. Depending on when you really require the money, you can go ahead and take the loan.

    Regards,
    Credexpert
    http://www.credexpert.in

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