GUIDE : CREDIT CARDS : RUPEETIMES.COM
Raju and the Magical Goat
In this booklet, Raju talks about the loan facilities offered by the banks.  
Raju told about the interest rates
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Raju and the Magical Goat Page 18
By Ankit Sharma
raju and the magical goat

Raju: So at the end of the year you have to repay Rs 1050. Now, if you don't repay your due amount to the bank, it becomes Rs 1050 and the 5% interest will now be charged on Rs 1050. So you will have to pay more interest next year and so on.
Gopi Chacha: Also, unless you repay, the bank will not be able to provide loan to another needy person. Repaying loans is a responsibility you owe not only to the bank but also to the society.

Gopi Chacha: We should remember that when we repay, the money goes as loan to another person and he too prospers. This way we all can contribute to each others' prosperity!

Raju: In fact, some banks have the facility of a credit counsellor whom you can meet before taking a loan.
Gopal: Credit counsellor? Who's that?

 

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TABLE OF CONTENTS
Introduction
Raju living a happy life in village
Poor Murli went to sunder and chander to take their help
Chander and sunder cheated Murli with a magical goat
Murli left in search of gopi chacha and raju to get their wise advices
Raju explained benefits of a bank loan
Bhola asked raju about benefits of education loan and credit cards
Murli asked about bank’s eligibility criteria
Raju told about the interest rates
Raju and the Magical Goat Page 18
Raju and the Magical Goat Page 19
Shammu started spreading humors about magical goat
Raju helped Murli to get his land back

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