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Moneylife » Personal Finance » Borrowing » Retail Banking: Fair-priced Shops

Retail Banking: Fair-priced Shops

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27/07/2010 02:45 PM | 

Are you aware of the actual interest you are paying to a bank for home loans or any other loan? You are not. The actual effective interest rate is veiled in a mass of banking jargon—reducing balance, compounding, quarterly rests, etc. That would seem strange for a retail product or service. One price, clearly stated, is at the heart of any retail product. All retail goods have to clearly state the MRP (maximum retail price). You ...

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