Loan eligibility- calculater

I don't like borrowings. But these days, getting loan or finance for every thing- house, vehicle, furniture- is very acceptable. The moment you start earning, you must possess everything- even if your get home salary gets reduced to one third.

As loan is considered normal, it is necessary to know how much you can borrow with your current income. Here is calculator.

http://in.finance.yahoo.com/news/loan-eligibility-calculator-085450165.html

Loan calculator is useful.
But I rely on that saying, "Aamdanni Athanni,Kharcha Rupayya." I take care to stay within the boundary of "Athanni "

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

I agree but not fully. Today's generation eligible for lone from banks are mature enough and mostly spend in property and get it at the age of 30-35.This was unthinkable in older generations before the age of 40 or even later. This is all about managing resources carefully. One can spend lavishly or in a planned manner, depends upon priorities.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

I agree but not fully. Today's generation eligible for lone from banks are mature enough and mostly spend in property and get it at the age of 30-35.This was unthinkable in older generations before the age of 40 or even later. This is all about managing resources carefully. One can spend lavishly or in a planned manner, depends upon priorities.

It's not the question of maturity. It's related to a psychological aspect known as False ego or prestige. Such people are more interested in "showing Up." Thais attitude drove many people to go for many things which are not required at all. And the easily available bank loans add fuel to the fire. They never think about their loan repaying capacity.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

I agree but not fully. Today's generation eligible for lone from banks are mature enough and mostly spend in property and get it at the age of 30-35.This was unthinkable in older generations before the age of 40 or even later. This is all about managing resources carefully. One can spend lavishly or in a planned manner, depends upon priorities.

It's not the question of maturity. It's related to a psychological aspect known as False ego or prestige. Such people are more interested in "showing Up." Thais attitude drove many people to go for many things which are not required at all. And the easily available bank loans add fuel to the fire. They never think about their loan repaying capacity.

I agree. Loan for house only is prudent.

That is how survival of our banking system depends. Our rate of interest is far more than compared to other countries. Still people are lined up to borrow from the banks and becoming slaves for half or more of their lives. They have forgotten the good old rule of save 30-40% of earnings and spend when necessary.

Free availability of loans of all kinds from banks and other financial institutions created a craze towards materialism. This is more in middle class people. Lack of knowledge about the consequences and above all that middle lass false prestige will make the people pave their way to bankruptcy.

I agree but not fully. Today's generation eligible for lone from banks are mature enough and mostly spend in property and get it at the age of 30-35.This was unthinkable in older generations before the age of 40 or even later. This is all about managing resources carefully. One can spend lavishly or in a planned manner, depends upon priorities.

It's not the question of maturity. It's related to a psychological aspect known as False ego or prestige. Such people are more interested in "showing Up." Thais attitude drove many people to go for many things which are not required at all. And the easily available bank loans add fuel to the fire. They never think about their loan repaying capacity.

I agree. Loan for house only is prudent.

That is what I think too, the people who are eligible to loan and the ones investing in houses to save rent which otherwise becomes unproductive investment. Tex benefit is additional profit.

Loan is cancer, one should stay away from all these in order to have a considerate and free mind and heart.

Loan is cancer, one should stay away from all these in order to have a considerate and free mind and heart.

It's important to know if loan is necessary or not. If you feel loan is necessary, think of your resources to pay back the loan. It's not wise to go for a loan to pay another loan,
.

There are times when we have to take a loan but again after careful consideration and being sure that you can pay back the interest on time and clear the loan at the earliest. We have taken a loan while building the house and cleared it within 3 -4 years and I feel it was worth it, otherwise the work would have got delayed ...Similarly educational loans are a boon to the students who want to go for higher studies within the country or abroad...

There are times when we have to take a loan but again after careful consideration and being sure that you can pay back the interest on time and clear the loan at the earliest. We have taken a loan while building the house and cleared it within 3 -4 years and I feel it was worth it, otherwise the work would have got delayed ...Similarly educational loans are a boon to the students who want to go for higher studies within the country or abroad...

Any loan which is productive and gives you more profit than the interest paid is useful. House and education and for business purpose come under that category but people going for maintaining standard beyond their repaying capacity is hard to digest.

There are times when we have to take a loan but again after careful consideration and being sure that you can pay back the interest on time and clear the loan at the earliest. We have taken a loan while building the house and cleared it within 3 -4 years and I feel it was worth it, otherwise the work would have got delayed ...Similarly educational loans are a boon to the students who want to go for higher studies within the country or abroad...

Any loan which is productive and gives you more profit than the interest paid is useful. House and education and for business purpose come under that category but people going for maintaining standard beyond their repaying capacity is hard to digest.

The main purpose of a loan is to save you from an immediate crisis. Some times it so happens, inspite of having your own money, you cannot use it.. But after some time you are sure of getting it. In the mean time if an urgent need of money blocks your way, you can happily go for a loan, because you are sure of your repaying capacity.

There are times when we have to take a loan but again after careful consideration and being sure that you can pay back the interest on time and clear the loan at the earliest. We have taken a loan while building the house and cleared it within 3 -4 years and I feel it was worth it, otherwise the work would have got delayed ...Similarly educational loans are a boon to the students who want to go for higher studies within the country or abroad...

Any loan which is productive and gives you more profit than the interest paid is useful. House and education and for business purpose come under that category but people going for maintaining standard beyond their repaying capacity is hard to digest.

The main purpose of a loan is to save you from an immediate crisis. Some times it so happens, inspite of having your own money, you cannot use it.. But after some time you are sure of getting it. In the mean time if an urgent need of money blocks your way, you can happily go for a loan, because you are sure of your repaying capacity.

In some cases loan means profit- despite paying interest on borrowed amount. All big business depend on loans from banks and public. Even banks will fail if they'll not borrow from them and pay interest. In turn business houses make big money to create new jobs and gain capital to pay taxes and help run this country.

There are times when we have to take a loan but again after careful consideration and being sure that you can pay back the interest on time and clear the loan at the earliest. We have taken a loan while building the house and cleared it within 3 -4 years and I feel it was worth it, otherwise the work would have got delayed ...Similarly educational loans are a boon to the students who want to go for higher studies within the country or abroad...

Any loan which is productive and gives you more profit than the interest paid is useful. House and education and for business purpose come under that category but people going for maintaining standard beyond their repaying capacity is hard to digest.

The main purpose of a loan is to save you from an immediate crisis. Some times it so happens, inspite of having your own money, you cannot use it.. But after some time you are sure of getting it. In the mean time if an urgent need of money blocks your way, you can happily go for a loan, because you are sure of your repaying capacity.

In some cases loan means profit- despite paying interest on borrowed amount. All big business depend on loans from banks and public. Even banks will fail if they'll not borrow from them and pay interest. In turn business houses make big money to create new jobs and gain capital to pay taxes and help run this country.

I'm talking about universal outlook and attitude of loan. Majority are from the lowest strata of the society. They do not understand the jargon and the written things in fine print. Its from here the building of empires start. Take the case of Nirma. It started with a saving and a prudent way of multiplying the money. But never with a loan.