Zero-Interest Loan

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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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In the case of the Development of Women and Children in Rural Areas (DWCRA) groups, it was not at all paid."Though 95 per cent of the farmers did not get the benefits, TDP has been resorting to false claims on the issue and is propagating that the zero interest loan scheme was a continuous process and there is nothing new in this scheme," he said.
The rice mill, located in a two-hectare compound along the national highway in Bayugan City, was funded using a zero interest loan amounting to P5.83 million from the Department of Science and Technology (DOST).
According to her, Government Empowerment and Enterprise Programme (GEEP), was another programme designed for zero interest loan scheme for over 1.2 million Nigerian artisans, traders, market men and women, as well as women cooperatives.
A PS400,000 zero interest loan from the Welsh Government will enable the firm to take on more highly-skilled staff to support and refine its business intelligence platform, DataVoyant.
This comprises a PS200,000 grant and a zero interest loan of PS300,000.
The Eugene Water & Electric Board and the Springfield Utility Board also are offering their customers incentives to install the system, with either a $1,500 rebate or a zero interest loan of up to $4,000.
Yet another example of the corrosive effect of" take-home pay" is that taxpayers are excited to get a tax refund when they should be upset that they have given Washington a zero interest loan for up to a year.
Strategies in Packaging a Zero Interest Loan for REA's Rural Economic Development Financing Program
" Thus the deal was to grab the Rs.1600 crore worth Herald House and other properties of the National Herald/Quami Awaz in Delhi and in different part of UP for a commitment to pay Rs.50 lakh to AICC for the Rs.90 crores advanced as unsecured zero interest loan," said Swamy.
Since the family could not qualify for a mortgage through a traditional bank, Habitat is essentially the mortgage lender, and the family will pay them via a zero interest loan.