The main purpose of taking loan is removal of debt burden. Everyone need money in their life to live in a purposeful manner, like if you need home and you don’t have enough money then what will you do?
Yes, not you, everyone try for loan because if you don’t have something then try. Also arrangement of money in large volume for middle class family is major problem of their family.
Pay in EMI is easy way because burden of money remove with EMI Payment, you don’t have to pay full amount in one time. You can arrange a small amount of money to pay EMI is more easy than arranging full money at a time. And the arrangement goes 95% successful every time in maximum people life .
Lower interest rate make life more comfortable and easy. In case if you have full money for home purchase then what do you have to do? Never purchase home with full payment because if you spend your all money then in last you have nothing in your pocket. So try for home loan because if you have some money in your pocket then you can invest it in some financial scheme, like SIP, mutual fund, etc that increase your money .
Saved money can also be invested in your bussiness which can grow and make success in life. Every bussiness need money to grow in market. On EMI you can buy all things which you want that is nice point of world banking system. We can say it is 9th wonder of world because compounding is the 8th wonder of world.
Now these days you can buy clothes, education, car, home etc everything which is going in banking system on which Bank can provide loan. You can buy it and pay in EMI. All FORTUNE 500 companies have loan on them through which they grow and became market giant.
Simple we can say that money is most important factor of physical world and money is everything for everyone. Some people also say that it is not right to take loans but in the deepest they know this is the most important right thing in this world if you want to grow. World is going faster only by the Economic changes. Today humans are social animals and if human has desire to social change this only happened by the economic earning of money.
LOANS support the world to grow with their maximum potential and if this will not happen, reaching to MOON might never happen again.