Apr 01, 2002 11:20 AM
2562 Views
(Updated Apr 01, 2002 11:28 AM)
Now a days there has been an explosion in number of agencies offering you loans for various purpose.They publish fancy advertisements luring the people. People do not read between lines.
There are many hidden costs which borrower comes to know when he is affected.
Imagine, price for prepaying your loan? with no stretch of imagination, I could digest that you have to pay extra, if you want to pay additional installment at a time? Or for that matter you want to square up your loan, on getting cheaper finance or from your relative?
We have to have faith in people. Years back, LIC started a housing scheme linked to your insurance. You pay the premiums as usual and at the end of the term you become the owner of the house.
It was introduced at Jeevan Beem Nagar at Borivli (West). Why the scheme is discntinued?
Such people friendly measures must be reintroduced.
