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If it is a critical situation and your friend is in need, would a real friend charge interest? However, if it is a very large sum of money from which you draw interest, then the friend should expect to pay interest so that you are not hurt financially. It's a sticky situation. I will tell you this; whatever your decision is, you are going to put your friendship at risk. One major contributor to the break-up of friendships, marriages, and other close relationships is a fall-out because of MONEY! Be careful if you cherish this person as a friend. When it comes to money, I have never seen any good come out of it.
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∙ 15y ago
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What's a fair amount to charge a friend for a small loan?
A small loan to a friend must be charged relatively to a lower interest rate of about 7% of the money borrowed.
Where can my friend get fast loan online?
Payday loan stores can provide quick access to money. Payday loan stores, however, charge a very high annual percentage rate of interest. Your local bank can assist you with the current interest rate.
How do i get a loan?
Nice, do you charge flat 2% interest rate for all loan types?
What is the definition of interest rates?
An interest rate is the amount of money a bank can charge on the loan that they provide you. That is how they make their profit. If they didn't charge an interest rate and just loaned out money, then there's no way they can make money off of the loan.
Definition of simple interest?
Simple interest is a term that is used for quickly calculating the interest charge on a loan.
What is the highest legal interest rate for a car loan?
what is the highest interest rate a car dealer can charge on an auto loan in sc?
What is a finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
What is finance charge?
A finance charge is interest charged by a lender on the unpaid balance of a loan.
How much interest can you charge in NJ for a personal loan?
20%
How much interest should you charge a friend?
Two answers here: a) Don't loan your friend money if charging interest has even crossed your mind. b) Businesses that pay my company late are subject to paying "6% interest above the Bank of England base rate.
How much interest can be put on a 1400 loan?
In many countries there are no limits on what loan sharks can charge.
What is the meaning of interest in a loan?
The meaning of interest in a loan means, that the person that loans the money will charge you an extra because of that loan. Example: You ask for a loan of 50 dollars and it has an 5% interest. That means that when you give back the loan you will have to give 55 dollars instead of 50.
