Common use of Debiting interest Clause in Contracts

Debiting interest. We accrue interest on a facility account daily and debit the accrued amounts to the facility account: • on the last day of the month following the date you first make a drawdown on the facility account; • from then on, on the last day of each month; and • on the date you repay the facility account in full. In some cases, you may pay interest on interest because we debit interest on the last day of each month.

Debiting interest. We accrue interest Interest accrues on a facility account daily and debit the accrued amounts are debited to the facility account: • on the last day of the month following the date you first make a drawdown on the facility account; • from then on, on the last day of each month; and • on the date you repay the facility account in full. In some casesWhen accrued interest is debited to the facility account, you may pay this means that it forms part of the balance owing on which later interest on interest because we debit interest on the last day of each monthaccrues.