A loan Offer From the Online Bank
By ARIES1973
@ARIES1973 (11426)
Legaspi, Philippines
March 8, 2021 6:11am CST
Because I am religiously saving a few amount every day on my online bank, I received a loan offer in my email. The bank is offering a PHP50,000 ($1,000.00) loan at zero percent interest. This may be a good offer but I have no plan of getting another loan because my plan is to be able to pay all my existing loans.
How I love to be debt free again so I can enjoy my salary to the last centavo without thinking of any loan to be paid monthly. It's been years that I have ben paying my loans. Though I have no regrets because I used those amounts for my children's education. And even if they are already finished studying, I am still paying those loans.
Have a great day my friends! Have you received any loan offer lately?
10 people like this
12 responses
@ARIES1973 (11426)
• Legaspi, Philippines
8 Mar 21
It can be tempting but I need to make a stand. No to loans anymore. I should instead focus on saving and investment.
2 people like this
@Lucky15 (37374)
• Philippines
8 Mar 21
@ARIES1973 yes sis. and the amount is really tempting :(
2 people like this
@youfiq (2565)
• United States
8 Mar 21
I have never received a loan from a bank, and until now I insist on staying away from what is called debt, debt will make me difficult in the future. but I am proud if you do take some loans and others to pay for the education of your children, may you always be blessed by God
2 people like this
@ARIES1973 (11426)
• Legaspi, Philippines
8 Mar 21
It was difficult for me considering that my husband decided to retire early because of some issues at work. I was just starting with my work in the government back then so my last resort was to avail of a loan.
@kaylachan (69824)
• Daytona Beach, Florida
8 Mar 21
I keep getting offers to refiniance my house. I plan on sticking to my current payment thank you. I've only owned this home for, four years. Got a bit to go before the mortage is paid off.
2 people like this
@ARIES1973 (11426)
• Legaspi, Philippines
8 Mar 21
It's better to pay off our current loan before entering another obligation.
@sunrisefan (28524)
• Philippines
9 Mar 21
I've been receiving loan offers via text messages. My also receives offers from her credit card company to convert her unused balance to a cash loan with a supposedly "low" interest rate. Just their way of tying her up with them for the duration of the loan. Offering a loan with zero interest is almost unbelievable. Purchase of appliance on installment with "zero" interest is more believable because I'm sure they have already overpriced the selling price.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
10 Mar 21
You are right on your analysis. Perhaps they can say it is zero interest but there may be other fees added. I'm not sure but it is okay to stay away from this kind of offer.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
9 Mar 21
That's the best situation we can achieve. When everything we need and wants can be achieved without having to avail of any loan offer.
1 person likes this
@Laurakemunto (12862)
• Kenya
8 Mar 21
Nope, it's good if you finish up your loans and be debt free again
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
8 Mar 21
You are right Laura. But I have plan in the near future which I will be availing of some loans . But for now, repayment of the existing obligations is my priority.
1 person likes this
@Laurakemunto (12862)
• Kenya
9 Mar 21
@ARIES1973 okay that's good. Having a plan is good. Wishing you all the best.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
9 Mar 21
@Laurakemunto Thank you for the good wishes. Have a great day!
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
8 Mar 21
That's a good mindset to have. Thank you for sharing your thought.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
9 Mar 21
Lol, that's true. Less worries when we have no loan obligations.
1 person likes this
@allknowing (136540)
• India
9 Mar 21
I hope you will soon be loan free and enjoy your money for yourself and the kids.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
9 Mar 21
Yes, sis. I am hoping that the day would come that I won't be having to worry that I still have loans to pay.
1 person likes this
@louievill (28851)
• Philippines
8 Mar 21
No loans or debts to pay is heaven but take note that there are also good debts and loans, that is when we use it for business, accquiring assets and investment that would make us more money in the future, I think it's called leverage. Our children are considered investments, we invest on their skills, talents and education but it's more for them than for us.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
8 Mar 21
You have a valid point here. A colleague availed of a GSIS GFAL more than a year ago. He used the money to build an apartment (He has a lot). According to him, he is now using the rental income to pay the loan.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
14 Mar 21
That's the best situation we could achieve.
1 person likes this
@ARIES1973 (11426)
• Legaspi, Philippines
8 Mar 21
Thanks Carol. Yes, it's better to stay away from this for the meantime. I want to reserve it for a big project.
1 person likes this
