Bank Loans Vs Loans from Private Lenders

Availing a loan to meet various commitments and to fund emergencies is not uncommon any more. Off late there are many options for individuals to choose from, which makes it tougher for individuals to make the right choice.

While there are banks that are traditional and established sources of finance, a lot of private lenders like online lenders, peer to peer lending sites, non-banking financial corporations, etc have also established themselves in the loan market from where you can avail of a personal loan easily.

However, there are many differences between availing a personal loan from a bank vs a private lender. We bring you a comparison between them on various factors of a personal loan to enable you to make the right decision.