What is concessional rate of interest?
Dear Student,
Concessional rate is the reduced rate in comparison of commercial rates. For example: If there is a interest rate of 10% and if Mr. A is getting loan on interest 8%, this is concessional rate of interest . He have to pay less interest , this is concessional rate.Such concessions are typically provided directly by government agency or by a government grant to a lending bank.
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Concessional rate is the reduced rate in comparison of commercial rates. For example: If there is a interest rate of 10% and if Mr. A is getting loan on interest 8%, this is concessional rate of interest . He have to pay less interest , this is concessional rate.Such concessions are typically provided directly by government agency or by a government grant to a lending bank.
Hope this information will clear your doubts on this topic.
If you have any more doubts just ask on the forum and our experts will try to help you out as soon as possible.
Regards