what is penal interest

Open uri20170510 32134 9p7be3?1494421783 rashmi asked over 3 years ago

what is penal interest.

    0       0 Answer Now Comment Report
1 Answers
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – 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 – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 upwan singh answered over 3 years ago

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.

    0       1 Comment Report
Get Notifications
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.