Can I file FIR if someone is not returning my money?

Yes you have to file a criminal complaint case in the court under section 420,406 IPC against both the parties for the refund of money paid, legal charges, interest for the period and compensation.

Can I get a loan to pay someone back?

A great way to get somebody to pay you back is by charging them interest on the loan. Prakash says that for loans less than $10,000, neither the lender nor the borrower has to report anything on their tax return.

How much interest will I pay over the lifetime of a loan?

To see how much interest you’ll pay over the lifetime of a fixed-rate loan, use our total interest calculator. If you borrow $20,000 at 5.00\% for 5 years, your monthly payment will be $377.42. Your total interest will be $2,645.48 over the term of the loan.

How do I use the loan interest calculator?

Our Loan Interest Calculator can help you determine the total interest over the life of your loan, as well as average monthly interest payments. Simply enter the beginning balance of your loan as well as your interest rate. (Note: This calculator only applies to loans with fixed or simple interest.)

Can a bank charge more than the original amount borrowed?

If other charges are added to the interest, you still can’t be charged more than double the original amount borrowed. But the banks don’t agree and have in many cases added legal fees after that amount, and that is now being challenged in court. If you go to court and the court rules on the debt you must pay, interest can be charged on that debt.

How do you record interest payable on a loan?

Borrower’s guide on how to record interest payable. When you take out a loan or line of credit, you owe interest. You must record the expense and owed interest in your books. To record the accrued interest over an accounting period, debit your Interest Expense account and credit your Accrued Interest Payable account.