how are the people troubled by the bankers for getting loan
Answers
Hi there,
Getting loans in banks is generally a tough procedure. Although each bank has their own rules and regulation but there are some general rules that all banks follow;
The lower class public is not eligible to acquire loans although they are the ones most worthy of them
There a certain amount of tax that is added into your loan amount each month.
You never really get rid of the loan until you pay it one go and that is hard for the public.
The banks asks for several documents that are difficult to acquire.
I hope the answer is helpful.
The issue of getting loan from baking institution has received a lot of challenges .
These includes
The banking institution setting high requirements which cannot be easily achieved by those who are in need of loan.
The guarantors needed may not be available.
The amount of loan application fee a times is high.
Blacklisting of the defaulters also makes the applicant shy off from buying or taking the loan with the banking institution.