It is like the modern era’s slogan where people are known for their own gains. Human life does not have any meaning but all the organs and the other things has huge value. People work with a motive. Every move with someone would be calculated and people do not give any idea for what the other people will want or can we help them from our power within our boundaries. People find ways to save money and never another human being.
Nowadays, banks and licensed money lenders, are ready to give personal loans for people. Personal loans are not just brought in time of needs like when one of our family members is in hospital needs money for a vital operation or if someone let with accident and loans for them. Personal loans are for things too. Mostly they are to buy new things like cars, houses and other things.
Nowadays, most of the countries have opened new methods where in personal loan for foreigners are sanctioned. It is highly stupid because it is not doing much good. The country should cut down the production because basically a person can buy something on loan, pay half way if they fail to pay the thing they got on security will be taken or ceased by the bank. Banks are giving someone else’s money for interest and they get profits by paisa (paise or coin or cent) margin. Thus of someone else is failing to pay loans the people are getting affected.
Moreover, our own future business men and woman are not given money for investment in their business stating that the banks cannot be sure and there is no assuring or certainty that the money will be returned with the interest but they are ready to believe the foreigners and grant them personal loans.
Probably there is a good side to this because there will be foreign exchange and interests’ rates for foreigners will be a bit higher than the original rates for citizens of the country. This can be pretty nice investment for the banks if the foreigner is paying proper investments and paying in time.
But people should not get loans for non movable properties unless they are going to do some business with it. For example, if people are going to take a loan to build a three storey house then it is a good investment but if they are going to build a big house where there will no source of external income then it is waste and it is not really needed. Similarly if you are going to get personal loans make sure that you are not going to be on the negative side of the investment.