What does penalty interest mean?
Definitions for penalty interest
penalty in·ter·est
This dictionary definitions page includes all the possible meanings, example usage and translations of the word penalty interest.
Wikipedia
Penalty interest
In money lending and in sales contracts, penalty interest, also called penalty APR (penalty annual percentage rate), default interest, interest for/on late payment, statutory interest for/on late payment, interest on arrears, or penal interest, is punitive interest charged by a lender to a borrower if installments are not paid according to the loan terms. If an installment is not received according to the repayment terms, sometimes if not received by the end of the month, the borrower/buyer is charged penalty interest on the delayed installment/payment.
Numerology
Chaldean Numerology
The numerical value of penalty interest in Chaldean Numerology is: 2
Pythagorean Numerology
The numerical value of penalty interest in Pythagorean Numerology is: 5
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"penalty interest." Definitions.net. STANDS4 LLC, 2024. Web. 1 May 2024. <https://www.definitions.net/definition/penalty+interest>.
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