Total Cost of Credit definition

Total Cost of Credit means Loan amount, all fees, interest and credit life insurance (if applicable) that will apply to the Agreement, charged in terms of the Act.
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Total Cost of Credit means the total cost of the credit to the consumer being all the costs, comprising interest, collection and all other charges, which the consumer has to pay for the credit exclusive of any sum payable as a penalty or as compensation or damages for breach of the agreement;
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Total Cost of Credit means the credit charges plus application fee;
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Examples of Total Cost of Credit in a sentence

  • NB 1: The Total Cost of Credit is the total amount you pay for your loan.

  • Total Cost of Credit The total annual sum of your repayments of the Credit Limit and any other fees arising from the Service Contract.

  • Initial Annual Percentage Rate The Total Cost of Credit to you arising from the Service Contract, expressed as an annual percentage.

  • The calculation of the Total Cost of Credit shall be governed by the assumptions set forth in clause 1.9 of the Agreement.

  • Annual Percentage Rate Contract Fee Cost of Goods Credit Default Interest Down Payment Goods Information Form Instalment Interest Party or Parties Payment Schedule The Total Cost of Credit expressed as an annual percentage rate of the amount of Credit drawn down and the value of which is specified in Your Service Contract.


More Definitions of Total Cost of Credit

Total Cost of Credit means the original finance charge, any additional finance charge resulting from the Deferral(s), and the Legal Funding Deferral Charge(s).
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Total Cost of Credit means the difference between
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Total Cost of Credit means the total costs which a borrower would need to pay for a loan.
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Total Cost of Credit means the total cost of credit as defined in the Central Bank Prudential Guidelines 2013
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Total Cost of Credit means the total cost which a borrower is required to pay for a loan. The total cost of credit is calculated by adding together all costs (interest payments, fees, charges, commissions, etc.) which the borrower is required to pay over the tenor of a loan. Part 2: Obligations of Bank-Financial Institutions The relationship between a bank-financial institution and a consumer shall be guided by the principles of fairness, reliability, and transparency.
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Total Cost of Credit means the total amount which includes legal obligations such as interests, taxes, duties etc. as well as all sorts of fees, if any, which are charged under various names, under the condition that charges and other legal duties which are imposed during the transfer of the title and the penalties which have been determined in the housing finance agreement are excluded,
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Total Cost of Credit means the gross amount of credit, i.e. the sum of the First Instalment, the following Instalments (including interest and administration fee) and other fees together with value added tax (as of the entry into the Service Agreement) payable under the Service Agreement. Annual Percentage Rate of Charge and the Procedure for its Calculation means the total cost of Credit expressed as an annual percentage rate of the used part of the Credit Amount the value of which has been indicated in the Service Agreement.
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