I have been advised to go in for a personal loan from a bank where I already have an account to avail ‘relationship discounts’. Do these discounts involve real reliefs in interest rates and other services as well? Which bank would be a better deal?

Mohit Ahlawat, Ghaziabad

Negotiate on the personal loan interest rate and any other charges with the bank. Make sure you get all commitments in writing. Discounts on any processing fee or such charges are possible, especially if you have a salary account with the bank, or are using their credit card. So negotiate hard on this. Also, find which band of interest rates you fall under.

olmdesk@outlookindia.com