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 ?
The Bank of England's Credit Conditions Survey said the length of interest-free periods for balance transfers and new purchases on new credit card lending both decreased significantly in the three months leading up to the end of May.
One especially with PPAF's expertise and work with interest-free loans programme.
She said interest-free loans of over three billion rupees were disbursed among eighty two thousand people across the country on the launching of National Poverty Graduation Strategy yesterday.
Held at the PM Office, the launching ceremony of the initiative marked the distribution of cheques of varying amounts of interest-free loans to help the poor establish or uplift their small scale businesses to support their living.
The programme -- prime minister's interest-free loan scheme -- had been launched in 2014 by the previous government and now it has been renamed Ehsas Programme.
He said that growers could get loan from National bank of Pakistan, Akhuwat (interest-free microfinance program), national rural support program, Telenor Bank and Agriculture development bank under this scheme.
"But if you keep up with your monthly repayments and clear the debt within the interest-free period, all your payments go towards repaying the balance - not in interest to the card provider." Before deciding which credit card is right for you, you need to think about how long it is likely to take you to pay your debt, according to Sanders.
Fitch has maintained its default assumptions of 2.5% for interest-free point-of-sale loans, 7.5% for interest-bearing point-of-sale loans and 12.0% for personal loans.
Customers purchasing a new Honda car will receive between 20,000 to 60,000 Qmiles and can also benefit from interest-free payments for two years and 90 days deferred payment on their first instalment.
The Reserve Bank of India (RBI) has proposed opening of 'Islamic window' in conventional banks for "gradual" introduction of Sharia-compliant or interest-free banking in the country.
Interest-free deals allow balances to be transferred to a zero rate for up to 41 months for a three per cent fee.