interest on vs interest off

[ostap77]

"As of today, we're going to have to pay 0.5% interest on/off each currency exchange transaction." Are both prepositions correct in the sentence?

 

[bhaisahab]

As of today, we're going to have to pay 0.5% interest on/off each currency exchange transaction. Are both prepositions correct in the sentence?

Only "on" works for me.

 

[SoothingDave]

If you were making interest, you could use either on or off.

"We're going to make interest on each exchange."

"We're gong to make interest off (of) each exchange."

 

[ostap77]

Is my original sentence wrong? Should I have used the word "percent"? Would both prepositions be correct here?

"As of today, we're going to have to pay half a percent on/off each currency exchange transaction."

 

[5jj]

Ostap, bhai has told you that only 'on' works in your sentence.

 

[ostap77]

I wasn't going to ask the same question again. I'm sorry I did. I thought I had used the wrong word. It's just that the Cabinet of Ministers of Ukraine signed an executive order according to which, as of today, we're going to have to pay 0.5% each time we change foreign currencies into Ukrainian hryvnas.

 

[5jj]

That's 'commission' or a 'charge/fee', not 'interest'.

 

[ostap77]

Which leads me to another question. Is it 0.5% commission or a commision of 0.5%? Sorry for being a pain in the.........:lol:

 

[bhaisahab]

Which leads me to another question. Is it 0.5% commission or a commision of 0.5%? Sorry for being a pain in the.........:lol:

Both could work.