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It's your money, you can pretty much do what you want with it (there are a few exceptions). But sure, you can make a personal loan and not charge interest.
No. Deductible interest includes student loan, investment, and qualified residence interest. Payday loan interest is considered personal interest. Personal interest isn't deductible.
"Personal" interest is NOT deductible.
In general the interest rates for a personal loan would be higher than for a business loan. The risk of losing money with business loan is not as high as with personal loan.
Fixed personal loan interest rates are typically higher than variable rates. If interest rates rise, your personal loan rates will look like a bargain, but on the other hand,if interest rates fall, your bank loan will look expensive.
The interest rates on an unsecured personal loan vary greatly from loan to loan. If your loan is through a Credit Union, it can be as low as 1.9%, whereas if it is a high-risk loan secured through a private business, the interest rate could be as high as 30% or more.
What the interest rate is and loan agreement
An unsecured loan generally does charge a higher interest rate than a secured loan because there is no collateral being held and no lien placed against anything they would be able to take in payment.
Nice, do you charge flat 2% interest rate for all loan types?
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.
Not in Canada.