Following are the points customers need to choose before going in for a loan.
1. Choose an agent/advisor who is empanelled with over 5 banks, when in trouble a bank shuts its operations and single agent/advisor who work solely for one bank loose their edge and cannot understand the process with other lenders making a fracture kind of a scenario for customer as his life savings are stuck in one investment and interest rates increase with no option, customers are left on their own by paying higher rates.
2. When the agent/advisor is empanelled with over 5 banks he helps in choosing the right rate of interest/rewriting of loans when interest rates fall/changing over to other banks with lower rates and when customer wants additional loan, top-up facilities are on hold this will help customers on the long run to chose the right bank.
3. Actual difference between agent/advisor will be when the either of two can syndicate debt for larger organization's through consortiums with multiple lenders basis their actual needs on capital requirement.
Time to ponder and choose the right agent/advisor for better opportunities available with multiple banks.
Choose wisely!!!
