Title
Chettiar promissory note
Year/Period
1923
Region
Singapore
Material
Dimension
Image size: 18.8 x 24.6 cm
Accession No.
2006-00713
Collection of
Credit Line
Gift of Mr. Subbiah Lakshmanan
This note states how much the client has to pay per month. The sum was worked out by the Chettiar after assessing the client’s credit-worthiness. Interest rates varied according to the terms of the loan, and ranged from 13% up to 48% in the 1940s.
