DO you take Loan to buy household items??

India
August 6, 2007 1:54am CST
Every bank offers Loan. It may be a House Loan, Education Loan, Vehicle Loan, .... People those are not having enough money ready with them to purchase household items takes loan from these banks? Do you also take loan or took loan in the past? Is it Ok to take loan. In my case, till now i never took the loan, but now i'm planning to take loan.
2 responses
@gr8life (6252)
• Malaysia
6 Aug 07
Hello helloravinder, It is normal to take loan for housing, education or hire purchase in my country. As for me, I have to serve two loans right now; for my car and also for my condominium. I need to pay month installment for both and it takes almost half of my salary every month *smiles*
• Malaysia
6 Aug 07
My husband and I have agreed that we will only take loans to buy a house and a good car. Maybe for education purposes but I doubt that would happen since both of us are working and don't feel like furthering our studies. We don't have kids yet, and if we have maybe we would take up education loan. I never take loans to buy household items. To me, it is such a waste of money because household items are not that expensive. We should collect our money first and later buy it with cash. In this way, we can save a lot of money if compared by taking a loan.