Best personal loan rates can be compared by researching about rate of interest of different banks on different kind of scenarios. All the banks offer different rate of interest according to various factors that are company status, income status, credit history, relationship with the bank, negotiating ability, amount of loan required and the repayment tenure associated with the loan. All these factors determine the rates of interest for a personal loan for an individual.
Average rate of interest for different banks are different and are discussed in this article. For a salaried person the company he is working is an important feature of the rate of interest. The people who working with the best 1000 companies in the world enjoys the lowest rate of interest on personal loan available in their respective bank that is banks offer their lowest rate personal loan to the people working with the top thousand companies of the world. After these people the people working with the multinational companies (MNCs) enjoys the personal loans at a rate of interest slightly higher than the people of the top thousand companies. And in the end the people working in the small companies has the personal loans at the highest rate of interest from the banks. These variations in the rate of interest is due to the fact that the people working in the top thousand companies always have good income and are considered the least risky for granting loan. The people with MNCs are considered slightly more risky than top thousand company people and the people working in the small companies are the people with quite a risk factor associated with them while granting the loan.