This question may sound very stupid. But actually I am doing a research on loans. The questions for which i am finding answers are : -
1. What is meant by a loan your point of view.
2. Why take a loan.
3. What makes you think about a loan.
4. Whats the emotional process going while taking a loan. (fear of repayment etc.. Reason can be anything)
5. What aspects you look when you apply for loan? (interest rate, bank, people handling your application etc......)
It will be great if you guys can give some clues.
2006-09-19 21:07:07 · 8 answers · asked by rajtrind 2 in Business & Finance ➔ Personal Finance
Recently I am trying to get a loan for my study. So i'll try to answer in my point of view.
1. Loan is essential for me as of right now while i am earning less than what i need to spend. Spending as in investment for the future (e.g., getting a degree or starting your own business), not just for shopping luxuries. Of cos, this is done with the hope and much calculated possibilities of repaying the installment.
2. This is the same as #1, cos we need the money that we HAVE to spend but we couldn't earn.
3. Also again, unless one has rich parents who could loan without any interest, loan from some banks is the only way.
4. There isn't much off the fear at the moment of taking it but it is unavoidable while your plans don't come out as they are supposed to be. But there is the difinite feeling of taking a risk. (of cos there is always a hope that i become suddenly rich and pay back the loan in full at once, lol)
Apart from that actually feel a bit comfortable for the time being as the much need financial factor is solved and i could concentrate on other things.
5. The aspects are in this order.
-interest rate
-minimal payback amount per month
-extendable time of the loan (e.g., maximum 5 yrs)
-if there is any issurance (such as if the university closed down for whatever reason then i do not need to pay back the loan) but this is most unlikely
-bank (must be a real reconized one)
-i don't think i'll walk away if the person serving having an attitude, but that's very unlikely as these people are trained to serve in a proper way. lol
alrite, that's about it. hope it helps!
2006-09-19 21:29:35 · answer #1 · answered by Cool Z 5 · 1⤊ 0⤋
I suppose you are talking about both loans taken for personal and business needs.
1. Cash or material with a promise to return with interest / premium taken from anybody is a Loan.
2. It may be for meeting your personal needs like wedding / education of your kids, your materialistic attitude, your bad habits, buying expensive gifts for your girl friend. However, if it is taken judiciously for business then it's fine.
3. Loan is a vicious circle. When one takes a loan, usually he takes another loan to repay the earlier one. Again loan taken for business, where returns are bound to be very high - I think it's good to go for loan.
4. Emotions are very high while taking a loan either it is for personal or business use. But when one goes bankrupt then emotional process goes to hell.
5. If I have to apply for a loan, I will compare interest rates of different banks, hidden charges and most of all my repaying capacity.
2006-09-19 21:40:53 · answer #2 · answered by Gentleman 2 · 0⤊ 0⤋
Loan is a financial or material asistance by CASH or KIND with an interest to be paid on it .one short term or Long term.
when you have a project or a business and you have the right idea that you can succeed on it but you are financial or material down then you need an asistance from a Bank or a friend or the committe.Then you have to pay with interest.
Because of a project or Business.
The fear of the process of payment and if things do not go as planed what will be your last resort of paying your loan and it interest.
As you had stated above it can be of any of those depend on individual position or situation.
2006-09-19 21:30:01 · answer #3 · answered by R.I.A 30 1 · 0⤊ 0⤋
Loan is a very important thing for people who need money urgently. The bank is the first thing I would see before taking a loan.
2006-09-19 21:24:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
1. Loan is the discounted future Income.
2. Loans are taken mainly for two purpose. One for spending for fun's and other is to make repayment of Old loan.
3. It's the inferiority complex within the men to make show off what he is not having.
4. Fear of repayment
5. Borrower is never bothered about terms and condition he just need to see his application is passed without any difficulty.
2006-09-20 00:37:18 · answer #5 · answered by Arun D 2 · 0⤊ 0⤋
1) Owe pple/bank/loanshark money
2) Because they need money
3) No loan no car no house. Don't have so much cash in the pocket.
4) Got a car - Happy. Got a house - happy.
5) interest rate.
2006-09-19 21:19:33 · answer #6 · answered by Avatraz 3 · 0⤊ 0⤋
You are able to instanly get a quick payday loan as much as $1000 by using this service: http://loans.servermatrix.org I acquired my payday loan despite the fact that I had really poor credit rating.
2014-08-29 02:44:40 · answer #7 · answered by Anonymous · 0⤊ 0⤋
hi,
taking loan is a very good things as you are working and you have expenses also so in that you cant save more money and also it takes longer time to save but by talking loan you can save money and repay you loan also by you monthly salary and spend you exp also by salary and also you have saved money
2006-09-19 21:32:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
If you need to borrow money laying out views & aspects aren't gonna help you get it. It's not like you have the power to dicide who's gonna be the lucky person to loan you some money. Unless you've already got some money they're not even gonna talk to you.
2006-09-19 21:32:01 · answer #9 · answered by Anonymous · 0⤊ 0⤋
why ..... cos they need money!
2006-09-19 21:09:34 · answer #10 · answered by Callisto 2 · 1⤊ 0⤋