20%
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.
In many countries there are no limits on what loan sharks can charge.
The amount of interest that a bank charges when you take a loan from them varies greatly. Every bank is different, and even in a specific bank rates can be different. A personal loan to a car loan will have different rates. Your best bet is to call your local bank and ask them the rate for the specific loan you need.
That depends on how long it takes to repay the loan. If you repay the loan in one go at the end of 12 months you would pay 612.00 in interest plus the loan of 1,700.00 a total of 2,312.00
£80.00
The rate that a payday loan business would charge is different between the individual businesses. Some have flat fees, whereas other businesses charge interest rates. Check around before accepting a pay day loan as some of the fees can be exorbitant.
In Ohio, the maximum interest rate for personal loans is generally capped at 28% for loans under $5,000. However, for loans of $5,000 or more, lenders can charge higher rates, typically based on the Ohio Revised Code. Additionally, licensed lenders may impose certain fees, which can affect the overall cost of the loan. It’s advisable to check specific lender terms and state regulations for accurate details.
Personal loans are widely available online by various providers. They offer a quick calculator tool to show potential borrowers how much would be charged for a loan based on the amount and the duration. They are achievable by applicants with poor credit however may charge significantly higher interest rates compared to traditional banks.
A payday loan, also known as cash advances, is a short term loan. The interests are very high and can reach 15 percent a week. The loan consumer normally turn on this type of loan when he is nor capable of getting a low interest load.
The finance charge would depend on the interest rate and the number of months it will take you to repay the loan.
One should expect to pay anywhere from 5% to 20% interest on a personal loan these days. of course you must take into consideration your employment status, your credit score and the financial institution you are planning to use as interest rates vary from bank to bank.
If one is looking for a small personal loan then the best places to look would be at one's local area's phone book at small loan companies. Another option would be a payday loan though the interest is usually much higher.