As per the recent trends it is wrong to look only at the interest rate. There are many factors that should be taken into consideration when applying for a loan. If you make your comparison on the basis of the interest rate then most probably you will make a mistake.

If you have to choose between offers from two different banks, one offering a loan with 9% interest and the other with 10.5% interest, which bank will you apply for. According to your question you would go for the loan with 9% interest. But the problem is that, the lower interest rate loan might actually have a lot of hidden fees. So, at the end, what seems to be a cheaper loan would eventually turn out to be more expensive one.
Next, what type of loan are you looking for. If you are looking for a unsecured loan, then you should know that this type of loan bears a higher interest compared to secured loan. On the other hand, if you have collateral, you can “Apply For a Secured Loan” and thus negotiate a better deal on your interest. See the all types of loans are offered by banks.

Moreover, before making any decision about taking a loan, make sure that you define the characteristics of the best loan for. What is the best for me, doesn’t necessary means that is the best for you. Do analyze that the best loan in market is suitable for you or not. Make sure that you define a general criteria so you could evaluate different offers.

As far as best bank is concerned, one should look at newly established banks, or banks that have a strategic goal to expand their client base. These banks most often have promotional offers, where you could be able to obtain a loan with better terms.

At the end, if you are only concerned about the financial part of the loan, look at the full cost of the loan, and then make adequate comparison. What you opt is what you will have to pay at the end so lucrative offers also have to be accessed on the aspects of long term need or short term requirement. If going for a long term loan more than 5 years then also consider the amortization schedule as it leads to higher rate of interest and short term loans are though cheaper yet the burden remains heavy till the time one square off the entire debt . Better way Is to compare the banks and other lending institutions as per your necessity and eligibility. Eligibility plays important factor as because of banks internal eligiblity policy you may miss the attractive offers too. Hence aspire for the best to grow but be cautious to play the terms variably so as not to get caught in the Bank in morality of high indebtedness.