The interest rate is an important number but it is not the most important consideration in applying for a bank loan. Many times, banks advertise really low interest but do not advertise the conditions behind them. Sometimes, low rates are just given for the first year or to preferred clients who have lesser risk. Since different people have different credit histories, certain banks may be right or wrong for you. Some bank may refuse to give you a loan while others may consider to take you in. A certain bank may offer a low interest rate and find you to be of very high credit risk that they decide to lend you a smaller amount, or even refuse to lend you the mortgage you need, or you may be offered a loan from another bank that offers a slightly higher interest rate but are willing to loan you the money or even give you a higher loanable amount. It is best to choose the best bank for your requirements than to shop around for the lowest interest rates alone.