New Delhi, Aug. 13 -- In a personal loan, many borrowers focus on the amount borrowed, the interest rate, EMI, etc. However, there are other important terms and conditions related to the personal loan that a borrower must be aware of. All these terms and conditions are mentioned in the personal loan agreement. In this article, we will understand some of the terms and conditions mentioned in the personal loan agreement that the borrower must check before signing it.

Before we discuss what a borrower must check in a personal loan agreement, let us first understand what it is.

A personal loan agreement is a legal document signed between a borrower and a bank that outlines the terms and conditions under which the loan is given. It includes ...