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A Timely Relief

I am Manjunath K V and I am a native of Mysore but I have settled down in Bangalore. I work for a private company and I have a small family. Though we are a small family the cost of living in Bangalore is high and whatever I earned want not sufficient even for my small family.

Three years back, I borrowed money as a hand loan on very high interest rate to pay my House Advance deposit to the owner. Initially I did not feel the pinch but as time went by I realized that most of my earning was being paid for rent as well as the interest for the hand loan. I hardly had extra money to take care of my family.

It was at this time that I was introduced to the Guardian Bank, Geddalahalli Branch Manager through my cousin. I realized that if I get a loan at a lower interest then I could repay the hand loan taken at a higher interest. The repayment to the hand loan went only for interest and the principal was still outstanding and the thought of how I was going to repay the principal gave me sleepless nights.

I discussed these problems with the Branch Manager and he requested me to bring the necessary documents so that he could check my eligibility for availing a loan. My loan was processed after a careful scrutiny of the documents which established my repayment capacity. I was the happiest person when the loan was sanctioned and I was able to repay the entire hand loan. Every month I was able to save some money which helped me to look after my family.

I made prompt repayments to the loan and within two years I was able to clear the loan. Since my loan repayment was regular and clear, the Bank helped me by sanctioning a higher loan amount to help me move to a leased house. The amount I have paid as a lease to my house owner is my saving.

I would like to thank Guardian Bank for their support and helping me to take care of my family better and to improve my economic status.

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