Taking loans from banks / myLot

Mauritius

August 22, 2008 8:04am CST

Every people take loans for some specific reason. In other words every people need money. The rate of interest is higher than the interest we get depending the amount we have in our account. The rate of interest on loans are likely to make the amount we apply for become twice.Should bank reduce the rate of interest on loans? Will people be able to repay their loans in future? As everthing in this world are becoming too expensive.

3 responses

ybong007

@ybong007 (6643)

• Philippines

23 Oct 09

Banks interest rates are way too high. They should take it down. I can't blame people from running away with their debts, some consider their interest rates as rip offs. Cheers!

faln_angel1205

@faln_angel1205 (1192)

• United States

22 Aug 08

Yes banks SHOULD but they wont. Why would they, they know ppl are in desperate need for money with prices of everything rising, so they are gonna take full advantage of that and charge to the fullest amount they can within their legal ability.

@dong1970 (1572)

• Philippines

22 Aug 08

hi there,i've not tried taking loans from the bank,The banks interest rate are so high and they dont mind if they making advantage to the people.