I honestly don’t know what’s so good about loans in Lebanon, or why some banks are so proud of their extremely high loan interests. What is even worse are those ads advertising personal loans for a child’s birth or a vacation. You end up paying 40% interest over 5 years and you should somehow feel happy about it.
I am taking a house loan soon and the interests are really scary. If you want 180k or 200k over 15-20 years you end up paying some 100,000$ in interest.
That’s how interest rates work, even in the west!
When you take a 200,000$ loan at 4.5% over 20 years, you end up paying >$100K interest…
Difference is that currently in the US (and Europe), interest is about 3.25% for a 30 years loan… still a lot…
they r making us depend our lives on loans, everything