Hello All,
Kindly let me know the below approach is a good one or not (given i have complete trust on the person).
I have one of my friends brother into Financier bussiness, he lends out money on interest in his home town.
I have approached for parking some of my funds with him to get an interest of 18% per year. Below are the points he made.
1. 18% interest per year
2. I can withdraw anytime, but will be getting accumulated interest till that date.
3. Minimum 1 Lac to be invested – I can do it over a period of 3 months
4. I have the previleage to take interest only at the end of the year and can continue with the 1 lac again.
Could you please let me know what all deeds or forms i need to take care of before going into this deal and giving him money.
Thanks a lot in anticipation.