With the big jump in the Kuala Lumpur Stock Exchange index, I am sure some people have been making a handsome profit and will have extra money to spend this coming Chinese New Year. As for others, they may still need to rely on personal loans or mortgages to tide over. Consumers should compare loans before deciding which loan package is the most appropriate for their needs. The number of loan packages available in the market is so big and varied that most consumers seeking a loan for the first time would be at a lost with the various financial terminologies used and the varying interest rates charged by one financial institution to another.

Sometimes, financial institutions promise lots of free gifts to entice consumers to take up their loan packages. However, if you were to make an in-depth enquiry on the terms and conditions applicable as well as rates and charges involved, you may be invariably taking a small part of the loan to finance the "free gifts" offered! It certainly does not make sense to be paying a slightly higher percentage in terms of the interest charged to get a free television compared to another loan package with lesser interest rate but with no free gifts offered.



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