Aug 14 2023, 10:28 AM
QUOTE(insan_kamil @ Aug 13 2023, 11:58 AM)
I understand your pov but even during pandemic, banks were raking in money. Even now they are raking in money. And not everyone who goes to loan sharks do so for online gambling. Like one poster above said, micro financing went down the drain when the banks were consolidated. This problem, i apportion some blame to banks for being assholes
Of course they have to bring in money, if they don't bring in money the institution collapses and will be worse for everyone who has money kept in that bank. The fact they can survive is due to their risk management, which is why microloans is not favored. The risk is high and the return is low, no reason for banks to put themselves in such a dangerous position.
If your credit is good, its easy to get low interest rate loans because your risk to the bank is low. I can easily get 2.9% interest rate from ambank via quickcash, so technically a micro-loan. Used it before, approval is only 2-3 days too.
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