S SENTHIL KUMAR (pROP) 27 February 2010
Dear Professionals,
My friend is going to start a finacing unit as a partnership firm.
He is going to lend fully for business/ personal purpose, maximum without security.
What is the maximum permissible interest rate, he can excerise to his loans?
Is there any risk prfile policy to be follwed?
Kindly guide us.
S.S.K
Arvind Singh Chauhan (advocate) 27 February 2010
Paste the link below. I think you can find your answer in Vishal Sir's wide explanation.
https://www.lawyersclubindia.com/experts/138-non-banking-company-giving-loan-/69271/
Parthasarathi Loganathan (Advocate) 02 March 2010
Since the transaction appears to be private between two parties, there cannot be any Regulatory norms prescribed as far as lending rates are concerned. However, Interest Rates presribed for Credit Cards, Clean Loans and overdrafts by Nationalised banks and other Private Banks can be taken as a Bench mark to determine the interest part.
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