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interest rate compounding monthly on outstanding loan.

(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
Report Abuse
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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