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Here’s an ad that I saw from the “bank that claims to know it all” –
Tell me this — would your parents be proud/happy knowing that you’ve taken a personal loan to pay for their vacation? I’m also quite sure that they aren’t going to say “We’re so so proud of you my dear son/daughter. At 18% per annum plus a 2% processing fee, we’re quite delighted that you’ve taken a personal loan from the bank that claims to know it all just so that we can go on this vacation of our lifetime. I’m confident that we’ll have a really great time while you sit here worrying about how to pay the EMIs for the next several years.”
Yeah. 18% + 2%, that’s the nightmare you’d be getting into.
What our parents would instead say is “Get the hell out of here. Do you really think that we need your money to go on a vacation? Or is it the other way around my dear son/daughter?”
Caution: I know that I that might be generalizing/stereotyping a bit here (please let me know if you think otherwise). But in general, I truly believe that our parents are way more hard working, are financially way smarter, know the real value of money, and don’t really need our help financially. I wish I could at least be a fraction of what my parents were.
Also shows how little the bank that claims to know it all actually knows. What do you think?
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