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Should we go in for a personal loan?

Created by : Sonali Sarkar, Trading Advisor, American Express  | 06 28 2010 12:44:40 +0000
Industry : Equity Research/AnalyticsFunctional Area : Equities(Markets)
Keywords : loan personal loan
Activity:  235 views;  last activity : 04 14 2011 12:21:46 +0000

A direct fall-out of a slowdown in the economy is borrowing gets tougher and banks start imposing tougher norms for borrowers. That was the case in 2009 till the government stepped in and eased the liquidity pressure. It's been almost a year since the government put in place some measures and the growth rates have been impressive.

http://www.ganeshconsultancy.in/Skin/Images/Personal_Loan.jpg

Though it has had its impact on the inflation rate, the borrowing programmes have been on track both from corporate and government.This has also pushed up the sentiments to a great extent and fears such as job loss and negative growth rate are not words you hear on the street. Expectedly, individuals are back to their spending days and what has also helped them is the loan offers from banks. The offers of pre-approved loans for cars and personal loans are once again doing the rounds.

So users, should we go in for a personal loan?

  
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Yes..if the person taking the loan has a genuine reason and should have the ability to repay it.
By Sudeepta Ranjan Rout, Financial Analyst and Audit Manager, SINGHI CHUGH AND KUMAR  | 04 14 2011 12:21:46 +0000
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If the investment is in a debt product, the choice has to be closure as the interest offered by a fixed deposit is often lower than the interest rate on a personal loan. In some cases, however, an employer may offer a concessional rate and in such cases, personal loans can be the alternative. Even with respect to equity, withdrawal may make sense though many argue that the investment in the later stage has the potential to offer returns. However, returns from equity are not assured but the interest or EMI on personal loans have to be serviced at any cost. In such cases, equity which has delivered profits can be used to meet fund needs rather than a personal loan. After all, a loan is a liability at any time and is a more expensive option than own funds.
By Sonali Sarkar, Trading Advisor, American Express  | 06 28 2010 12:44:40 +0000
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No.. not till you are sure of repaying it..
By Mahalakshmi Subramanium, QA/QC Manager, Genpact  | 04 14 2011 11:29:01 +0000
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Sonali, i don't understand your exact point. Personal loan for what ?

First of all we should not go for any loan without it requires. If you are saying that we will take P.L. for investment then it is not a good idea. Personal loan provides by banks to cover our few but urgent requirement of funds not for investment purpose. And investment in fixed rates financial instrument will not provide the interest rate charged by bank on P.L.  Investment in equity for short term is too risky. As a trader it is not easy that you will earn as much profit on monthly basis as require for interest burden.
By Vipin Bhasin, Private Equity/Hedge Fund/VC-Manager, Indian Investment Co.  | 06 29 2010 19:06:21 +0000
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