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Rate of interest on personal borrowings

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(Querist)
23 December 2014 I want to borrow 5 lacs from a friend. I will b using the money in my business.How much maximum interest can be charged on this loan amount???
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
23 December 2014 Generally there is a practise of 12% p.a. charging intt on unsecured loans.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
23 December 2014 Frankly money always create problems in friends. if you are able to get from bank take it.

if you not, it is preferably to pay interest by increase 100 to 200 basic points on interest charged by banks on personal loans. You may take SBI rate of Interest charged on personal loans
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Rupesh Jain

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Rupesh Jain (Expert)
24 December 2014 you can charge the intt more than bank intt 1-2% higher.
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