Common use of INTEREST ON YOUR LOAN Clause in Contracts

INTEREST ON YOUR LOAN. We calculate the interest on your loan using an interest rate of <INTEREST RATE (PER ANNUM)>% per annum, which is fixed for the duration of the Agreement. We calculate interest on a daily basis on the outstanding Loan Amount, so if you repay early, the amount of interest charged will be less. We show you the APR, or annual percentage rate, using the same calculations as other lenders so you can compare borrowing costs. We have calculated the APR on the assumption that we send the funds to you immediately after we've processed your signed agreement, you repay the Loan on time and we and you will comply with the terms of this Agreement.

INTEREST ON YOUR LOAN. We calculate the interest on your loan using an interest rate of <INTEREST RATE (PER ANNUM)>% per annum, which is fixed for the duration of the Agreement. We calculate interest on a daily basis on the outstanding Loan Amount, so if you repay early, the amount of interest charged will be less. We show you the APR, or annual percentage rate, using the same calculations as other lenders so you can compare borrowing costs. We have calculated the APR on the assumption that we send the funds to you immediately after we've processed your signed agreement, you repay the Loan on time and we and you will comply with the terms of this Agreement.