Common Problems attached with getting Personal Loans

Below addressed are few common problems, along with possible solutions, that are generally faced on customers while getting a personal loan:

1. Problem: Delay in giving loan as against promise made by the bank

Solution: This has become a habit of banks to delay their disbursement even though customers have submitted all their papers. The only solution is that customers to plan their budgets on a one week delay basis from the promised date. Through this you people will not face any kind of problem in your plans and budgets no matter even if the banks delays the payment.

2. Problem: Although the approval has been given then too the disbursement is canceled

Solution: Again a common habit of the banks due to approval hierarchy level. Just move your loan request to another bank

3. Problem: The interest meter starts running from the promised date even though their is a delay in getting a cheque from the bank.

Solution: Open an account with the bank and ask them to credit your loan amount to that account. This will ensure that the bank cannot charge interest for any delay in handing over the cheque as they will directly credit the amount in your account which generally takes half an hour after the deposition of the cheque.