Interest | askHanuman

posted: 4 years ago
Interest  | askHanuman

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Interest

Interest is the fee you have to pay the bank for borrowing money. It is calculated as a percentage per year of what you borrow. The interest on credit cards are normally zero percent if you repay within a period after you have used the credit card, but quite high if you pay overdue.

A short example for that would be the following: Let’s say that on the 1st of January you borrow THB 100 at an interest of 12 percent per year. You do not repay within the interest free period, and do not even pay back until one year later. The interest would then be THB 12, and you would have to repay THB 12 extra after one year (in addition to fees). If you instead repay it half a year later, you would have to pay would be THB 6.

Despite detailed research we can not guarantee the accuracy or completeness of the information provided.

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