{"id":1437,"date":"2012-09-27T17:18:16","date_gmt":"2012-09-27T09:18:16","guid":{"rendered":"http:\/\/blog.imoney.my\/?p=1437"},"modified":"2019-02-22T14:37:36","modified_gmt":"2019-02-22T06:37:36","slug":"five-simple-steps-to-getting-a-personal-loan","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/five-simple-steps-to-getting-a-personal-loan","title":{"rendered":"Five Simple Steps To Getting A Personal Loan"},"content":{"rendered":"

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While it may seem daunting, applying for a personal loan is actually a very simple process.<\/p><\/div>\n

Need cash to get that new ride or purchase that Euro trip you\u2019ve been dreaming of, but put off by the tedious process of applying for a personal loan? You\u2019re in for a surprise. While it may seem daunting, applying for a personal loan is actually a very simple process.<\/span><\/p>\n

Here are five simple steps to kickstart your personal loan application:<\/span><\/p>\n

<\/span>1. Research and Compare Your Options<\/span><\/h2>\n

Getting a personal loan is similar to picking the right car to buy. Before settling on one, you have to first conduct a thorough research. With personal loan, it is the same. There are many things to consider including interest rates, fees & charges, your personal requirements and so on.<\/p>\n

For starters, use comparison websites like www.iMoney.my<\/a> whenever possible as websites like these compile information from various sources and present them in user-friendly formats, saving you time and effort from research. Often, these websites also include useful guides and tips on what you need to know before landing yourself a personal loan.<\/p>\n

<\/span>2. Assess Your Personal Financial Situation<\/span><\/h2>\n

After gathering this information, compare the best options available to you with your personal situation. Have a gauge of how much you need to pay on a monthly basis, how long it will take to completely pay off the loan, and whether your personal finances allows for such a loan. Settle on the one that most addresses your unique circumstances.<\/p>\n

<\/span>3. Locate the Appropriate Application Form<\/span><\/h2>\n

Often, banks make available their personal loan application forms on their websites. Alternatively, you could personally visit a branch, or arrange for a bank representative to meet you in person. Some banks may even allow phone or online applications, which would further simplify the application process.<\/p>\n

<\/span>4. Read the Fine Print & Confirm the Numbers<\/span><\/h2>\n

It is wise to confirm your monthly repayment, loan term, and other miscellaneous charges together with your banks prior to signing any loan agreement. Look carefully through the terms of the loan as mistakes can happen. It is also advisable to spend a couple of minutes scanning the fine print to ensure you\u2019re not caught by surprise in future.<\/p>\n

<\/span>5. Submit the Required Loan Documentations<\/span><\/h2>\n

Finally, get ready all the necessary documentations needed in order for your loan to be approved. Below is a list of documents that are generally required by banks:<\/p>\n

If you are a salaried employer<\/strong><\/p>\n