Handi-Loan Plus with OpenCash Sample Clauses

Handi-Loan Plus with OpenCash. 3.3.1 The maximum Handi-Loan Plus value is £1500. 3.3.2 Non-members may apply for a Handi-Loan Plus but if approved must join FAIRshare before funds are released. 3.3.3 The first deposit into the account should be at least £6. This covers the non-refundable one-off administration fee (see 1.5.1) plus a minimum of £1 to open the account. 3.3.4 Members must save a minimum of £2.56 a week for 78 concurrent weeks or £11.74 a month for 18 months before saving withdrawals can be made unless the Handi-Loan Plus is repaid in full. A specific ‘Locked Savings Account’ will be opened for this purpose. Subject to a good repayment history and no repayment arrears, the Locked Savings Account will be converted to a Linked Saver Account after 78 weeks (18 months) and 15% of loan value must be retained (see clause 3.1.8). 3.3.5 You may pay a £10 faster payment charge for funds to be in your bank account within 24 hours of your loan agreement being signed. If you prefer not to pay this charge funds may take up to 5 days to be credited to your account excluding weekends and bank holidays. 3.3.6 Repayments must be paid weekly or monthly by standing order. Failure to do so could affect your OpenCash facility. 3.3.7 OpenCash is not available if loan repayments are in arrears. 3.3.8 Subject to qualifying (see clauses 3.3.6 & 3.
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