how much interest can you charge for private loans between friends. what is federal bank rate in San Francisco
482214
If you are going to charge bank rate, why doesn't your friend just go to a bank? I thought that was the point of borrowing from friends- no interest! Set up rules before lending the money and make sure you are both aware of these rules. Give them a break! They wouldn't ask YOU if they could go to the bank.
369088
If you got 3% interest annually it would be at $572.18 now.\n\nI get 3% on savings at my credit union, bank rates will be lower.
125478
how 'bout a loan? maybe your friends or parents can loan you some money...
1096616
Which interest rate?  There's the effective fed funds rate at the top and the daily data there.  If that's not it, there are plenty more to choose from.\n\nThe full data are here: http://www.federalreserve.gov/releases/h15/data.htm
208758
BEING A FRIEND IS NOT ABOUT BORROWING A MONEY...OF COURSE I CAN BE YOUR FRIEND...I LIVE IN THE USA, BUT I'M AN IMMIGRANT, SO EXCUSE ME FOR MY ENGLISH.\nsn777scg@yahoo.com
613669
The lending rate is made up of the: Discount Rate, or the Federal Funds Rate.  These are the interest rates set by the Federal Reserve that banks have to pay when they need to borrow money when they run out of excess reserves [the money that they are required to hold in case people want to make large withdrawls].\n\nThe lending rate is determained by market supply and demand.  In other words the interest rate charged on loans to the public is determained by how many banks are willing to offer loans and how many people want to take out loans.
1153478
B is the answer.  If they pay before interest kicks in, no cost other than the goods themselves are involved. "0" percent APR.
302162
I think I got $1,187 federal and $59 state. I wish I'd gotten more but that's life and yes it does annoy me that it's interest free.
812155
Where does somebody get that much money from ... and they want you to put it in your account??? Uh your friend could be commiting tax fraud and making you take the fall for it.\n\nAlso how will you guys work out the interest??\n\nThis is so dodgy I wouldn't do it even if it was legal - which that sum of money why isn't your friend putting it in their own savings account???
246324
The simplest way is to multily by 12.  While that doesn't give the exact rate, it is generally close enough.  For deposits, (savings accounts or money markets) rates are usually expressed in APY (annual percentage yield).  So a money market paying 6% APY would have a 0.5% monthly yield, if interest is compounded monthly.\n\nFor loans, most lenders calculate interest by assuming that each month has 30 days and each year has 360 days.  That makes each month have the same interest.  To get the actual annual rate, you would divide the monthly rate by the number of days in the month (31 for march) and multiply by the number of days in the year (365).  But the result is so close that it's usually good enough to just multiply by 12.
798783
Typically 1-2% is a fair amount, anything over that is usually on the high end and you should look around.  \n\nClosing costs are all financed into the loan if they know what they're doing.  The only charges that might be charged are for appraisal and credit report/application fee.  Other than that, you shouldn't be charged any of it up front.
648324
if u live in california i can do the work for you. does your friend currently have a second on his house? if he does refinance depending on how much equity over the house you have u can join both loans into one and at the same time add in the $5-10 k you owe(u would get a check or cash if ud like at the signing). if he only has one loan on his house he can open up a second for the total equity you have available. im pretty sure they wont do a $5-10k loan but wat will happen is that u open a second for the total equity available to u and u just use what you need that come with really low interest rate
394233
The rule of thumb is 50%.  However, if the borrower is frugal and isn't burdened with debt, perhaps they can get away with a higher percentage.  It's just a matter of convincing the lender.
556597
You want to check bank interest rates on line, compare, and then decide.\n\nWorld Savings and Loan I worked for many years ago, they don't always have the best rate available.
1042862
Interest rates for any new Federal Stafford loans made after July 1st will will be 6.8% for all borrowers (in-school or otherwise).  \n\nIf you already have a *variable* rate Federal Stafford loan, your rate on that loan will remain variable and will be expected to increase to 6.54% (for borrowers in school, grace, or deferment) or 7.14% (for borrowers in repayment).\n\nInterest rates for any new Federal PLUS loans made after July 1st will will be 8.5% for all borrowers (in-school or otherwise).  \n\nIf you already have a *variable* rate Federal PLUS loan, your rate on that loan will remain variable and is expected to increase to 7.94% for all borrowers.\n\nPerkins rates and terms will effectively stay the same (5% fixed rate).
560434
They are telling you that the 8% interest on the amount financed by the bank is $600.  They are telling you what the simple interest is on the amount financed for the first month.\n\nInterest = Principle*Rate.  Assuming that the 8% interest is an annual rate, what would that be for one month?  8%/12 = 2/3% or .00666666.\n\n$600 = Principle * 2/300.  So, the amount borrowed or the principle was 600*300/2 = 90000 dollars.\n\nIf they borrowed 90000 dollars and it was 90% of the purchase price 90000 = 90%*Purchase price, that means it was a 100,000 dollar house to begin with.\n\nWe can do it backwards to check.  Start with 100,000 dollar house.  Now, make a 10% down payment and finance the rest, 90,000.\n\nThe first months payment on the interest would be 1/12 or the 8% on 90,000 or 1/12*.08*90000 = 600.  Yep, it was a 100k house.
853233
Divide the yearly interest by the principal to determine the rate.\n\nAssuming simple interest, you'd get 275 ÷ 2500 = 11%\n\n~ ♥ ~