Who is a co-applicant? A co-applicant refers to a person who applies along with the borrower for a loan. This is done so that the income of the co-applicant can be used to supplement the borrowerâs income and increase his/her eligibility.
Here are some states' approaches to the question of awarding post-judgment interest: 1  California provides for a fixed interest rate of 10% per annum for postjudgment interest. 2  North Carolina applies a statutory rate of 8%.
The âeffective rateâ is thus 6.17%, while 6% is termed the ânominalâ rate. Similarly, a 6% bond on which interest is paid quarterly has an effective rate of 6.14%. 1  Facebook. 2  Twitter.