Most of the people in the world are having loan some kind of relationship based on loan. they may be either a loan giver or a loan taker. There might a offering of getting loan from a bank and then putting the money as a fixed deposit in another bank. if the rate of interest to be repaid is lesser than the Rate of interest of amount deposited in fixed deposit, Then this can be considered as a beneficial business, otherwise it is definitely not. The various loans given in the normal banks are house loan. House loan is the cheapest loan of all and the duration to repay this loan is very long.
The next in this list is the personal loan. The personal loans may be used for the personal reasons like marriage, functions and related activities. The amount taken utilized for travel also comes under personal loans. There is an option of EMI in this loan and the customer can choose their duration. But, the interest rate for this is quite high. The most preferred loan to be given by the bank is vehicle loan. It is a bit easier for the banks to provide the vehicle loans. Suppose, if the customer does not pay the loan properly, the bank has all rights to seize the vehicle from the customer. These loans are also available with zero interest rates.
Business loan is taken on offer by very few people those who are involved in their own business. Usually the interest rates are very high as there is a lot of risks involved in it. Education loan is another loan which can also be considered as a personal loan. There will requirement of the student to repay the loan after completing their education. These are the various loans given by most of the banks. They have nice tracking system of the customers, but there are few people working in the banks, whose duty is to collect these EMI's or interests from the customers, their main aim is to collect the money and show their proficiency.
It is legal that they should not threaten or harm the customers while collecting these loans. There is a different section for providing loans, which convinces the customers to avail the loans, but this collection section acts exactly opposite and rude. Yes, it is their duty to collect the money, which is fair enough, but the method they handle is not so good. That has to be avoided. mostly, there would be a security caution while providing loans, that is understandable. The threatening and torturing activities can be reduced if not avoided.
It is always advisable not to avail loans from banks unless and until it is very much necessary for our basic needs. If we avail this loan for our leisure activities, it might result in a wrong direction. One more thing that we need to understand is before getting a loan, we must make sure that we have a capacity to repay it. If we don't have any source of income for repaying it, it is best move to avoid getting loans.It is an unwanted burden that can be better avoided.
The next in this list is the personal loan. The personal loans may be used for the personal reasons like marriage, functions and related activities. The amount taken utilized for travel also comes under personal loans. There is an option of EMI in this loan and the customer can choose their duration. But, the interest rate for this is quite high. The most preferred loan to be given by the bank is vehicle loan. It is a bit easier for the banks to provide the vehicle loans. Suppose, if the customer does not pay the loan properly, the bank has all rights to seize the vehicle from the customer. These loans are also available with zero interest rates.
Business loan is taken on offer by very few people those who are involved in their own business. Usually the interest rates are very high as there is a lot of risks involved in it. Education loan is another loan which can also be considered as a personal loan. There will requirement of the student to repay the loan after completing their education. These are the various loans given by most of the banks. They have nice tracking system of the customers, but there are few people working in the banks, whose duty is to collect these EMI's or interests from the customers, their main aim is to collect the money and show their proficiency.
It is legal that they should not threaten or harm the customers while collecting these loans. There is a different section for providing loans, which convinces the customers to avail the loans, but this collection section acts exactly opposite and rude. Yes, it is their duty to collect the money, which is fair enough, but the method they handle is not so good. That has to be avoided. mostly, there would be a security caution while providing loans, that is understandable. The threatening and torturing activities can be reduced if not avoided.
It is always advisable not to avail loans from banks unless and until it is very much necessary for our basic needs. If we avail this loan for our leisure activities, it might result in a wrong direction. One more thing that we need to understand is before getting a loan, we must make sure that we have a capacity to repay it. If we don't have any source of income for repaying it, it is best move to avoid getting loans.It is an unwanted burden that can be better avoided.
Hi I like Your Blog. Your blog is really informative and helpful for all. Keep updating with newer post on Personal Loan For Wipro Employees.
ReplyDelete