what is penal interest.
0
0
Answer Now
Comment
Report
1
Answers
Important Note โ Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures โ online & in Pen Drive/ DVD โ at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below โ
For any questions Request A Call Back
Hey Rashmi ,basically In money lending,penal interestis punitive interestcharged by a lender to a borrower if installments are not paid according to the loan terms. Moreover, If the installments are not received as per the repayment terms, by the end of the month, the borrower will be charged interest on the installments delayed which is called as penal interest. Any interest charged by the lendor from borrower of funds for non compliance of repayment terms is penal interest.