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This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2009
what is the meaning of penal interest?
plz help me..
plz help me..
05 December 2009
It is generally charged by Bank/financial institution, where borrower does not comply with the terms and conditions of loan sanctioned.
for example in case Cash credit limit, borrower is supposed to stock statement everymonth with in givin due date, if statement will not be submitted in due date bank may charge extra interest on the outstanding amount.
for example in case Cash credit limit, borrower is supposed to stock statement everymonth with in givin due date, if statement will not be submitted in due date bank may charge extra interest on the outstanding amount.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2009
thanks
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