Common use of Loan Repayment by the Customer Clause in Contracts

Loan Repayment by the Customer. 10.1. Both types of loan, i.e. the Bullet Loan and the Instalment Loan, have different repayment periods. In each case, the applicable repayment period begins when the Loan is credited to the Customer on his or her bank account. 10.2. In the case of a Bullet Loan, which is repayable after a period of fifteen (15) or thirty (30) days, the repayment of the Loan Amount and payment of the Loan Interest and the credit costs shall be made in one (1) instalment on the last day of the respective repayment period, as specified in the Loan Agreement to be made available to the Customer. 10.3. In the case of an Instalment Loan, with a repayment period of at least two (2) months, repayment of the Loan Amount and payment of the Loan Interest and the credit costs shall be made in at least two