interest-free
Adjective
Meaning
interest-free (not comparable)
(finance) Not charging interest; not subject to interest payments.
The government is offering interest-free loans for the purchase of energy-efficient appliances.
Alternative names
interest free
Examples
Adani Electricity Mumbai Limited (AEML) has extended the interest-free EMI facility for a limited period for the customers starting from October 23 up to October 30, to alleviate consumer’s prevailing billing concerns.
Dr Glory Edet, the state Commissioner for Agriculture, told newsmen in Uyo on Friday that the state had empowered a lot of farmers with soft interest-free loans of N100, 000 each to cultivate farms.
During a February 2007 visit, Chinese President Hu Jintao pledged Namibia " RMB 1 billion of concessional loans, 100 million US dollars of preferential export buyer's credit, RMB 30 million yuan of grants and RMB 30 million of interest-free loans..
Firms would need to ensure that customers can, on request, access a preferential interest rate in respect of any borrowing that is not interest-free, it said.
If, as during the Great Depression in the United States, deflation averages 10% per year, even an interest-free loan is unattractive as it must be repaid with money worth 10% more each year.
Barclays is offering emergency interest-free overdrafts to customers struggling with finances during the coronavirus pandemic.