What does "interest" mean?

What does "interest" mean? 🤔

When most people hear this word, they get scared. Or they don't understand it. Or they act like they don't understand even if they do.

Let's explain with a simple example.

You lent your friend 100,000 so'm. Your friend paid it back a month later – 110,000 so'm.

The extra 10,000 so'm is the interest. That is, a payment for using the money. Just like when a house is rented, money is also taken "on rent".

At Boylik Finance, interest rates are transparent and clear. There are no hidden fees. All terms are clear in advance.

We explain in detail in the video. Watch it and decide for yourself. ⏫

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Boylik Finance — Easier than you think! 🚀