Indexed Loan definition

Indexed Loan means the principal amount is indexed to the exchange rate ruling on day of commencement and changes as per the movement of the exchange rate Words importing one gender include the others. The heading to the paragraphs shall not be used for the purpose of the interpretation thereof Acceptance by the borrower of these terms and conditions shall take place on the borrower’s signature to this document and in the event that the borrower has omitted to sign this document upon receipt by him of the money.
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Indexed Loan means the principal amount is indexed to the exchange rate ruling on day of commencement and changes as per the movement of the exchange rate
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Examples of Indexed Loan in a sentence

  • Summary - This section sets forth the interest crediting methodology for the Segments of the Indexed Loan Account.

  • The Indexed Loan Account is made up of different Segments that earn interest and Index Credits as shown in the Additional Policy Specifications.

  • You can switch from the Traditional Loan Option by transferring the entire loan balance to the Indexed Loan Account by way of the Holding Fixed Accounts on a policy anniversary.

  • The value of the Indexed Loan Account is the sum of its Segment Values.

  • If there is not enough value in the Fixed Dollar Cost Averaging Account, the deduction will be made from any current value in the Indexed Loan Account, net of Policy Debt, on a pro-rata basis over the Indexed Loan Account segments.

  • During a Lockout Period, repayment of Policy Debt will be withdrawn from the segments of the Indexed Loan Account and transferred to the Traditional Fixed Account.

  • At Segment Maturity any credited interest, Index Credits, and Policy Value Enhancement from the Supplemental Term Insurance Rider (if attached to the Policy), is withdrawn from the segment of the Indexed Loan Account and reallocated to the subaccounts of the Separate Account, the Traditional Fixed Account, the Short-Term Fixed Account and Indexed Fixed Accounts (by way of the Holding Fixed Accounts) on a pro- rata basis in proportion to the current value of each account.

  • On Segment Maturity this amount of the Indexed Loan Account Segment Value is allocated to the subaccounts of the Separate Account, the Traditional Fixed Account, the Short-Term Fixed Account and Indexed Fixed Accounts on a pro-rata basis in proportion to the current value of each account.

  • The Holding Fixed Account Value for the Indexed Loan is then transferred to the Indexed Loan Account on Segment Dates.

  • Index Credits - Amounts held in the Indexed Loan Account earn Index Credits on the Segment Maturity Date based on Index Performance.