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.
He was allowing seven and a half per cent interest on these deposits.
They lent money to the Venetians at 24 per cent interest.
In addition the government would pay an annual sum equivalent to 6 per cent interest on the transferred stock.
Some firms charge as much as 30 per cent interest.
The balance to be paid within ten years at eight per cent interest.