Are the personal loans given by these private banks like icici , hsbc, hdfc, abn are worthable, or are they pushing the youungesters into debts.
bkiran63 posted on Aug 31, 2006
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anonymous said on Sep 08, 2006....
Taking a personal loan from Banks is like taking loan from Money Launderers. It is almost at the same rate of interest.
They will fool you by saying the loan is at 8% flat rate of interest. Flat rate of interest of 8% is equivalent to 15% interest rate at reducing balance.
It is criminal to take a personal loan. It is like buying from your future at a high cost.
For better understanding financial concepts please visit my blog http://moneywiseindia.blogspot.com regularly.
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