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Scrutiny
  
Inviting peril…
…means availing loans in India
20/09/2007

A dream car or a dream house is nothing but a loan away, these days. With myriad of loans available at obscure interest rates, indulging in chateaus & coupes that an individual fancies is a thing of the past. Well then, what is the thing of the present? Well, Ahem! The mayhem which is a consequence of the backbreaking burden repayment of loans along with interest. While a reducing interest rate of the past had been a lure enough for the common man to fall in the trap of floating rate of interest, the rising interest rates have made sure that the dream home made with such loans become a nightmare, leaving many beleaguered & broke. These days, many end up paying anything between 30% - 50% of their income to the bank as EMIs & eventually paying an amount which could have bought them more such properties for which they had availed the loan. The debt traps, in cloak of malevolent loans, though have helped many to acquire what they fancied, but has vindi.

By:- B&E
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