Loan sharks

Many private banks are offering lucrative facilities to their clients under different schemes. They are providing their clients with various types of loans. Some of the banks also give education loan to meritorious students, especially those who wish to pursue higher studies abroad. Unfortunately, these loans, although offered without any mortgage or sponsor, have major drawbacks. The client has to pay an exorbitant interest rate. The interest rate is so high that it is not possible for the middle-class people, who really need the loan, to pay it. If these people were so capable of paying such huge interest, they would never need the loan in the first place.