is it better and safer to take loans from private individuals or from banks?
Is it better to take Loans from Banks or from private individuals?
Prachi Bansal (3129 Points)
02 April 2021
2 Replies
Vishnu Agarwal
(student)
(39 Points)
Replied 02 April 2021
It is always better to take loans from bank as they are regulated entities and RBI ensure lot of transparency which helps in serving the customer interest in the best way. There are proper grievances redressal mechanism put in place by the RBI which will not be available if you take the loan from indivuals
Prachi Bansal
(3129 Points)
Replied 04 April 2021
But some banks legit charge you excessive interests and charge you too much towards paperwork. Is that legitimate or justified?
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