I agree with you, loans generally are not advisable. Where I come from, when you take loans from banks, they give you several conditions and when these conditions are met. They will now add outrageous interests on the loan, such that if one is not careful, he will continue to pay the throughout his lifetime. But you go to save or fix money with them, your money will not grow instead they will be deducting from it telling you the money deducted is for a particular charges. I strongly concur with your argument that loans are bad.