Loans Have You Ever Took Interest-Free Loans?

Good-Guy

VIP Contributor
There are many banks that provide loans to their clients. They often demand mortgage as security in return of the loans provided to their clients and they also charge huge interests on the oloans provided to their customers. However, there are many organizations in our country that provide interest-free loans. For example, I live in a Muslim country and in here there are some private organizations and some governmental organizations that offer interest-free loans to customers. I am really not sure how they earn profits on these kind of loans, but they do offer such kind of loans to general public. As far as I know, they also offer student loans that are interest-free. So, have you ever borrowed loans that never required you to pay interest?
 

Good luck

Verified member
Banks will never give you a loan without an interest rate no matter how close or devoted you are to such bank because they are also doing business with money they get from customers so by giving you a loan they also want to make money from you.it is very hard to get a loan that would not ask for interest except it is not a financial organization
 

Alexandoy

VIP Contributor
I like the idea of interest free loan because that is designed to help the needy. However, that method cannot prosper here because a borrower usually becomes delayed in paying back and some would not even repay the loan. That happened when our government had a program for small businesses that so many availed an less than 10% paid back.
 

Abigael

Valued Contributor
I have never taken a loan that is interest free. Except of course on those times that I borrow from a friend. Otherwise, there are no loan lending companies here who offer interest free loans. Maybe there are and I have just never come across them. I wonder how such make profits, or is it just a method of saving money for them.
 

Jasmine

VIP Contributor
Those who offer interest free loans are not trying to make money, they are only offering humanitarian service. I have burrowed from friends and families without having to pay back. I have also lent to friends and family without charging ant interest. I do not know about any organizations that offer interest free loans.
 
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