Zero-Interest Loan

Zero-Interest Loan

A loan on which interest does not accumulate. Rather, the borrower must only repay the principal. For example, one may borrow $5,000 and pay the lender $5,000 over a period of two years, at which point the debt is considered repaid. Zero-interest loans are the only loans permitted in Islamic finance. They are also extended to persons, companies and countries in desperate need of aid. See also: Zero-coupon bond.
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The city asked for a 30-year zero-interest loan from the EPA, while also looking for grant opportunities.
2 million, in the form of a zero-interest loan financed by the state over the course of 10 years.
Weeks after this abrupt awakening, a report of a 500 million peso [$39 million] zero-interest loan from the company to the powerful union Sindicato de Trabajadores de ta Republica Mexicana, Stprm, was leaked to the press; the government responded by blaming the past administration.
EWEB's now-suspended zero-interest loan program brought energy efficiency to a lot of people who otherwise would never have been able to swing it, contractors said.
The Daily Citizen reported that the city voted to accept a zero-interest loan for six months from Searcy resident Reynie Rutledge.
The homeowners then repay the cost of the home through a long-term, zero-interest loan, and the money goes back into the program to build more homes.
Then, lo and behold, the following blurb comes next "why not apply for our zero-interest loan so you can go on that dream vacation?
In the summer of 2006, zero-interest loan offers with payment terms as long as seventy-two months presented compelling opportunities to the extent that prices for credit purchases were similar to prices for immediate cash.
8 million grant from Japan, the program was able to raise $47 million in pledged reserves from Bermuda, Canada, France, the United Kingdom, the Caribbean Development Bank and the World Bank, which supplied $23 million in the form of both a zero-interest loan and a subsidy for Haitian participation.
That means a family of four with an income of $98,250 a year could qualify for a zero-interest loan of $50,000, officials said.
The zero-interest loan helped achieve a positive projected cash flow position.
The families selected for the program will help with the repairs and hold a zero-interest loan on the total cost of the repairs.