Loan / Borrow legal documents?

[Freddy]

Nookie/Starman. Out of interest (no pun intended), what's the going rate for a loan. Does it vary depending on amount and intended length of loan  or is it just a flat monthly rate with no end date specified??

[Starman]

Nookie/Starman. Out of interest (no pun intended), what's the going rate for a loan. Does it vary depending on amount and intended length of loan  or is it just a flat monthly rate with no end date specified??

My wife charges the same for every one. As for the rates, get as much as you can. Lol.

My wife does not specify an end date. She doesn't really want them to pay back. Continued interest payments are mor beneficial to her.

[Freddy]

I think around our villages it's pretty much a flat rate of 5% per month. I can never understand why somone doesn't undercut the rest and offer 4% per month. Annually that's still a phenomenal return for not much effort.
I figured you'd say no end date is better. i did suggest to my Mrs that she consider it and I'd float her the initial capital when I first moved over. She didn't seem that keen but I think she was just thinking around rice/land loans.
I'd have thought there is a good market for the unexpected like family weddings/funerals, truck repair, tool purchase etc....,
Wish you well with it.

[Starman]

Not me. Remember it's my wife that does the lending.!!

Your figures are accurate. Nice to know tbat those kind of figures mean you are in clear profit by the 21st month.

[Freddy]

My error. I wish your wife well with it.

[halfaboy]

I think around our villages it's pretty much a flat rate of 5% per month. I can never understand why somone doesn't undercut the rest and offer 4% per month. Annually that's still a phenomenal return for not much effort.
I figured you'd say no end date is better. i did suggest to my Mrs that she consider it and I'd float her the initial capital when I first moved over. She didn't seem that keen but I think she was just thinking around rice/land loans.
I'd have thought there is a good market for the unexpected like family weddings/funerals, truck repair, tool purchase etc....,
Wish you well with it.

Just out of interest. How is the interest calculated. Say I borrow 100 baht @ 5% per month. That means at the end of the month my debt is 105 baht. What would be my debt at the end of the next month. Has the debt increased with 5 baht or is it increased with 5% over 105 baht ?
Thanks....

[Starman]

The interest is payable monthly so the debt does not increase.

[nookiebear]

I think around our villages it's pretty much a flat rate of 5% per month. I can never understand why somone doesn't undercut the rest and offer 4% per month. Annually that's still a phenomenal return for not much effort.
I figured you'd say no end date is better. i did suggest to my Mrs that she consider it and I'd float her the initial capital when I first moved over. She didn't seem that keen but I think she was just thinking around rice/land loans.
I'd have thought there is a good market for the unexpected like family weddings/funerals, truck repair, tool purchase etc....,
Wish you well with it.

Try and be smart by undercutting is not recommended could end up in hospital or worse!