 There are so many SMSs, calls coming through offering personal loans which all of us look very attractive. So the idea is that do shop around, don't always follow the line of least resistance and go to your own personal banker or the organization that you bank with and say here can I have a personal loan. Take advantage of the people reaching out to you and you also reach out to other people. Occupy basically as much of the real estate around the knowledge of what is offered on the marketplace by different by lenders other than the one that you bank with. Calculate the rate of interest that's on offer because many times people offer a flat rate of interest which is 6.5% in over a three year time frame looks rather attractive but please always calculate your rate of interest as it as you're likely to shoulder it on the reducing balance because every time you pay back an equated monthly installment you're paying back part of the principle as well. So an interest calculation in detail for you to be able to understand how it's going to hit you and also compare apples with apples all interest should be calculated in the same method when you're comparing the alternatives. Around four closure charges because life is you know a funny thing it goes up it goes down but quite honestly you are going to get a few windfalls every now and then so if you took a three year loan chances are per year and a half you may want to repay all of it or at least a portion of it to you know get rid of the interest you know which is hitting you you certainly have some excess cash. Now the RBI has put in some you know some restrictions on lenders charging four closure charges on home loans but the same is not applicable to personal loans so as such always try to see where you are likely to attract the lowest possible four closure charges and also where the part for part repayment is possible sometimes people say yes I allow you to four closing you know if you pay all the money back you know that may not always be the case you may want to pay back only part of it. So can you pay back all of it can you pay back part of it and what is the cost of such four closure this is a very important thing to check out and compare between various options when you are fully repaid your loan how would it impact your credit score always be very clear that you should always paying up all of your EMI's on time and that the relationship with your lender is a good one so that it reflects on a as an on a good credit score going forward it will help you immensely the other four basic things I would say to look at when you're looking at a you know personal loan last thing if I might add try and get away from advanced EMI's those and that's not a good thing to do you know when people say it's an advanced EMI's actually raising the cost of borrowing get away from that and you know always unless you know you calculated and you figured out that is actually a cheap way of accessing that particular loan as a rule of thumb advanced EMI's not a good