NEWS & ADVICE : PERSONAL LOAN
The Borrowers Of Loans Are Just Drowning – Consolidating Is The Solution?
By Vaibhav Aggarwal
Sep 10, 2013
Print    Email    RSS   

At present, all the borrowers are really struggling to repay their loan amount. A few years back, it was easy for the salaried persons to avail personal and other types of loans from the banks. They have used the money to buy international products like LED Televisions, Smartphones and other luxury products. Since the period repaying was too long, they were able to manage their loan payments. Recently, all the banks have increased rate of interest for all the loans and now, the borrowers are just sinking. The banks offer personal loans for the interest rate, between 16 and 36%. Now, the borrowers are confused and many of them are planning to go for the loan consolidation program.

The Loan Against Property is the basic LAP program. Already they are unable to meet their commitments and if they pledge their properties, how they are going to redeem their properties? A Chennai resident, Mr. Sridhar Sundaram says that he has availed the home loan from a public sector bank and has been repaying the monthly installments, on due dates. Now, he is trying to find another source to increase his income, so that he can manage his finance.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
An analysis of alternatives to personal loans
Carnival of Indian Personal Finance Blogs # 9
Pros and Cons of Personal loans
What to look for while taking a personal loan
Carnival of Indian Personal Finance Blogs #2


HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive