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How to Get a Personal Bank Loan Contents

It is never a good idea to take out a personal loan just for the sake of it, and always better to pay with cash as you go along. That said, borrowing money to pay for something of permanent value like training is a completely different thing. As is also arranging bridging finance, for times when you might find your mortgage or home equity payments difficult to afford.


Personal Bank Loans………………….2

Making a Balance Sheet….…...…...2

Writing a Letter…...……..……….…...2

Choosing the Best Loan……..….…..3


Personal Bank Loans

There are two kinds of personal bank loans. Some are unsecured and charge a higher interest rate. Others are cheaper with softer repayment terms provided, that is, you have collateral to back them up.

Making a Balance Sheet

Make up a personal balance sheet. List the things that you owe on the left, and the realistic net value of your assets on the right. If your assets are greater than your liabilities by at least the amount you want to borrow, then you might be good for a loan, with collateral.

Writing a Letter

What’s does that mean?

Ask your employer to provide a letter confirming your monthly income, and your terms of employment (permanent staff

For more terms and definitions, check out’s glossary page: lossary.php

versus length of contract) too. Be prepared to back this letter up with pay stubs or invoice statements.


Choosing the Best Loan

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Shop around for the best loan, comparing loan periods with total loan coast including interest. See how things change with and without collateral, and make your choice. As a general rule of thumb, go for the cheapest loan, with the shortest loan period that you can afford. Take time out to complete the application form as neatly and as comprehensively as possible, and remember to attach all the documents the lender requires. A wellprepared application goes a long way towards securing the personal loan you need.

How to Get a Personal Bank Loan  

This presentation covers the most important detail on how to get a personal bank loan. Visit and find more information...