What is the interest rate for UM Motorcycles Renegade Limited Bike?
Ask your questions through Vicky.in FAQs page. Find out the answers for all questions of UM Motorcycles Renegade Limited Bikes. Clarify all doubts for all Bikes through FAQs page. Ask question not only for Bars but also regarding the website and get all the details.
UM Motorcycles Renegade Limited EMI
The term Interest Rate means the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR). The assets borrowed could include cash, consumer goods, large assets, such as a vehicle or building. Interest is essentially a rental, or leasing charge to the borrower, for the asset's use. In the case of a large asset, like a vehicle or building, the interest rate is sometimes known as the "lease rate". When the borrower is a low-risk party, they will usually be charged a low interest rate; if the borrower is considered high risk, the interest rate that they are charged will be higher. Interest is charged by lenders as compensation for the loss of the asset's use. In the case of lending money, the lender could have invested the funds instead of lending them out. With lending a large asset, the lender may have been able to generate income from the asset should they have decided to use it themselves.