Questions tagged [micro finance]

KDramaLegendaryStarlight Wed Sep 25 2024 | 5 answers 894

Could you please explain what the maximum interest rate is for microfinance? I'm interested in understanding the upper limit that financial institutions can charge for these types of loans, especially for those who may not have access to traditional banking services. Is there a standard rate that is commonly applied, or does it vary depending on the region, borrower's creditworthiness, and other factors? Additionally, how does this rate compare to other forms of lending, such as personal loans or mortgages? I'm looking to get a comprehensive understanding of the financial implications of microfinance loans for potential borrowers.