Interest free mueslim loans

[Joey_21]

hmmmmmm makes me want to start a certain F-OFF revival thread

 

[Cobez]

No point, it would just be locked anyway.

 

[danja]

i see where you coming from and for the most part agree (i dont believe we should change to accomodate other cultures), but looking at it from the perspective of a business - if the bank can make money from this market segment previously untapped then im for it, provided it is avaliable to non muslims as well.

That's it. It's NAB trying to get more business, not Muslims forcing their culture on us. If you want to blame anyone, blame NAB.

Provided the same product is available to non-Muslims (and I would think it would have to be not to break anti-discrimination laws) then I see no problem with it. In essence it's a fixed-rate loan for life, which I can see appealing to people because you know exactly what you're getting into.

You can bet your left nut that the banks will want to make a fair buck on the deal though, so I wouldn't expect the rate to be significantly cheaper than the average home loan (in fact they may often be cheaper, depending on interest rates of course).

 

[Lumps of cheese]

Banks fail in general, this proves it.

 

[Troy5L]

nah i still blame the muslims, y should they get special treatment because of their religion?

so can i walk into a bank and say ive just turned muslim and im in the process of growing sh1t beard, can i have a interest free loan?

 

[trentvy]

I think im gonna be sick

 

[imnothereanymore]

i have nothing to say as ill be banned for life..........................

 

[TrEnNaVY]

it almost worth being banned for life
this is bullshit, how bout the banks help out struggling aussie b4 every1 else!!!!

 

[danja]

nah i still blame the muslims, y should they get special treatment because of their religion?

so can i walk into a bank and say ive just turned muslim and im in the process of growing sh1t beard, can i have a interest free loan?

That makes about as much sense as blaming women for Jaycar selling pink tool sets.

NAB saw a market segment they think they can make money in, and they are going for it.

By the way, it's not an interest free loan - it's an extended lay-by contract.

 

[davway]

it does say anyone can get the loan, but the question is how?
surely 'everyone' cannot get an interest free loan such as this, even with the profit built in, imagine the money lost over a 30 year house loan - money the bank wouldnt get.