Until a decade back, taking a personal loan, home loan or an educational loan meant going through the lengthy processes of the banks and bigger financial institutions, which most of the led to a delayed sanctioning of the loan. In short, by the time your loan application got sanctioned and the processes took a head start the requirement got taken care of and the need for the loan was no longer existent. This is definitely not why people take loans. Unless you are very meticulous at planning even your loans, the banks wouldn't be a very helpful...
