Credit unions are by law not allowed to charge more than 12.6 per cent interest on loans to their members.
The loans would be repayable over a period of 20 years at 3.5 per cent interest.
They will receive the total value of all their premiums, plus 8 per cent interest.
People join the savings club and after 12 weeks' contributing can get loans at 1 per cent interest.
If this were paid for over 20 years at 10 per cent interest, the annual cost would be £1200.
We're not talking about hundreds of per cent interest here.
He was allowing seven and a half per cent interest on these deposits.
They lent money to the Venetians at 24 per cent interest.
Some firms charge as much as 30 per cent interest.
The balance to be paid within ten years at eight per cent interest.