I have gone through all messesages regarding home loan and personal loan. I personally feel peoples have a tendency to exagerate the things. It is not true that with only one or two EMI not paid, and banks start harassing. In the event of failure of one or two EMI's , normally bank first intimate over telephone, but it is expereince of many banks, after defaulting EMI , borrowere do not bother to contact bank, if they have any genuine difficulties to repay. These peoples even do not bother to attend the telephonic calls. I am a borrower of ICICI for home loan for last 4 years, and not having this kind of expereince. Also I am having credit card of HDFC bank, which is used very judiciously, and paying due bills in time, hence not faced any kind of harassment. What I fell it is the habit of defaulters to shout against banks. If any person do not have repayment capacity, then why they should avail loans. These peoples are adopting americal life style, spending more on credit more than income, and later on repenting. We should follow philosophy of mahatma gandhi, to keep our needs to minimum, so that one should nit get oppertunity to borrow.Peoples who are advocating to take loans from govt banks,want to get rid of repaying EMI , as the procedure of recovery of govt bank is slow as compared to pvt. bank. And lastly will govt banks waive loans, which we are talking. Let us study both the sides of coin and comest.
