What is the prevailing interest rates on loans in your country?

[Kross]

Interest rates on loans affect the entire economy as it determines how easy households and businesses can access funds that they need to fill certain financial gaps.

What is the interest rate that is approved to be charged for loans in your country?

 

[neku]

The interest charged depends on various factors like the lender, loan amount, borrower profile, credit score, purpose for which the loan is required. At present the lowest interest rate is approximately 9%.

 

[King Belieal]

The apex bank of my country sets the range of 9% to 31% for banks to fix their interest rates. Banks can choose any rate within this range as their interest based on their own specific factors considered.

 

[kerryjoy]

The interest in our banks ranges from 5- 20% average in most of our banks and industries

 

[Kross]

The interest in our banks ranges from 5- 20% average in most of our banks and industries

What would make a particular loan application attract the upper limit of 20% interest. I guess it should be the duration of repayments.

 

[Stardom22]

In my country most of the financial institutions are regulated to charge 8-9% for business loans.

 

[Fidelia]

In my country most of the financial institutions are regulated to charge 8-9% for business loans.

8% interest for business loans is not bad. Just that some businesses that can't handle the repayment of such loans just jump in to get the loans and mess up at the end.