interest rate compounding monthly on outstanding loan.

seema sharma (Querist) 09 October 2017 This query is : Resolved
Sir,
Is it legal to charge interest on outstanding interest on personal loan on monthly basis.
Please guide.
Thanks

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Sudhir Kumar, Advocate (Expert) 10 October 2017
see agreement.

Rajendra K Goyal (Expert) 10 October 2017
Legal, if charged in accordance to the agreement.

seema sharma (Querist) 12 October 2017
It is in bye laws .

Rajendra K Goyal (Expert) 14 October 2017
If charged in accordance to bylaws, it is regular and OK.

Guest (Expert) 14 October 2017
Although more than 95% of Mr. Rajendra Kumar Goyals' replies are vague and irrelevant, BUT, here, I would not hesitate to appreciate the view point of Mr. Rajendra K Goyal.

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