Interest Rate Policy

This policy outlines how interest rates are applied to borrowing from the Friend’s Club Savings Pot.

We aim to keep rates fair, simple, and transparent for all members and non-members." 

Member at Friend's Club

• Interest Rate is 2%

(Example: If you borrow ₹10,000 →  ₹200 total interest.

Not a Member at Friend's Club

• Interest Rate is 3%

(Example: If you borrow ₹10,000 →  ₹300 total interest.

Reference Interest Example (Others Offers)

• Borrowing ₹500 to ₹1,000 = ₹30 interest charged

• Every additional ₹500 borrowed = ₹25 extra interest

(Example: If you borrow ₹1,500 → ₹30 + ₹25 = ₹55 total interest.

Special Cases in Interest Rates

✅ If multiple members request loans at the same time, interest rates may be adjusted through mutual discussion.
✅ Any changes in rates will be communicated to members before borrowing.
✅ All calculations and changes will be documented and shared transparently

✅ The club may offer periodic interest on contributions based on the club's financial performance.

✅ Members will be notified in advance about any applicable interest rates."