Shop around and get the best deal, rates and benefits and ask the banks to explain all terms conditions and different types of loans to you.
It is rour right as a consumer to get the best deal for your self. If one bank offers you a low interest rete use it to negotiate for an even lower rate with another bank. Find the best deal and best fit to suit your needs.
As a consumer it is also your right to have the bank explain everything you need to know thoroughly, especially the terms and conditions you do not understand. If they don’t then make a complaint and take it to the authorities and don’t sign with them but look elsewhere.
Secure loan pre-approval
Get pre-approved for loans even before making large purchases that require financing. When you ar going to make a property or cr purchase on loan, you cn also negotiate with your bank to see what loan amount you can get and at what interest rete before the purchse decision. You do not want to be in a situation where you have paid the down payment due to time limits stipulated in your initial down payment contract giving you only a short period to obtin financing.
Keep a clean credit history
Keep your credit history clean and in the clear by paying off all loans on time.. Pay you installments on time. Never deault, because if you have a bad credit history, you will not get the best rates and deals for loans. In fact, banks might not want to lend you anything at all because you are deemed an irresponsible credit risk.
Pay one month in advance, so that if there is an emergency you hve a one-month buufer. Have a good credit testimony that you cn use to get a loan for other appreciating items when you need to.