Interest-Free


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Interest-Free

Describing a loan, mortgage or other debt 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.
References in periodicals archive ?
It said that since the start of January, only a couple of card providers have improved or launched fresh interest-free balance transfer offers.
The area manager said that Akhuwat had distributed Rs 55 billion interest-free loans among the needy families so far.
The WAIFEM DG noted that Islamic or interest-free banking is a banking model based on profit and loss sharing system.
Payment can be made in interest-free instalments over various periods, depending on the amount of the fine.
It is also our understanding that interest-free banking for financial inclusion will require a proper process of the product being certified as Sharia compliant will be required both on the asset and liability side and the funds received under the interest-free banking could not be mingled with other funds and therefore, this banking will have to be conducted under a separate window," it said.
Zebit's financial wellness benefit gives employees free financial resources and an interest-free credit safety net to finance purchases from the Zebit Market.
Towards mainstreaming these excluded sections, it is proposed to explore the modalities of introducing interest-free banking products in India in consultation with the government.
It costs PS30 to shift PS1000 with Virgin Money's 41-month interest-free card.
He said that interest-free loans of 17 billion rupees have been distributed among 8.
How we can introduce interest-free microfinance (also known as Islamic, or Shari'ah-compliant, banking)?
Separate interest-free branches are one vital means to promote the interest- free finance and microfinance industry worldwide.
Kazakhstan plans to launch a mortgage company that will issue interest-free loans on the principles of Islamic finance, head of the Islamic Finance Association Yerlan Baydaulet told a press conference of CCS on November 6.