Consumer loan Sample Clauses
A consumer loan clause defines the terms and conditions under which a lender provides funds to an individual borrower for personal, family, or household purposes. This clause typically outlines the loan amount, interest rate, repayment schedule, and any applicable fees or penalties. By clearly specifying these details, the clause ensures both parties understand their rights and obligations, thereby reducing the risk of misunderstandings and protecting both the lender and the borrower throughout the duration of the loan.
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Consumer loan. Cover Sheet; and
Consumer loan. Consumer loan" means a loan made to a consumer by a supervised lender for personal, family or household purposes, if the debt is payable in installments or a finance charge is made, including a loan made pursuant to a lender credit card.
Consumer loan. Any purchase money loan that is evidenced by a Pledged Note Receivable, the proceeds of which are applied by the maker of such Pledged Note Receivable toward the Purchase Price of a Timeshare Interest.
Consumer loan. Type: Consumer credit utilized to cover cash financing needs of the client. Insurance: The name of the loan-related insurance offered with this loan is “Credit Life Insurance”. The term of the credit life insurance is the same as the maturity of the loan. Credit life insurance is valid throughout the loan maturity and is not subject to renewal. Credit life insurance, which is one of the optional policies as detailed in the General Conditions section above, cannot be issued in connection to the loan without an explicit written request or a request placed via recorded data storage instruments. The Bank must be the loss payee (pledge claimant, Dain-i Mürtehin in Turkish) in the insurance policy. Extension of the Loan from Digital Channels: You can also use a personal loan via HSBC Internet Banking or HSBC Mobile Channels as Distance Agreements. In this case, the loan agreement will be concluded over telecommunication tool. No additional written agreement will be signed between you and our Bank. The loan will be extended based on the pre-extension notification and your approval regarding the agreement. You can access these loan documents at any time through HSBC Internet Banking or HSBC Mobile Channels. In the presence of justifiable reasons, you or our Bank may terminate the agreement at any time provided that the personal loan debt is repaid including all interests and secondaries to accrue, by giving a written notice or notifying through the recorded data register. In this case, no penalty will be applied. Right of Withdrawal: In addition, the client has the right of withdrawal within 14 days without stating any reasons and paying any penalties. The right of withdrawal starts on the date of execution of the agreement. It will be sufficient if the notice indicating that the right of withdrawal has been exercised is submitted to the Bank within the period allowed for such withdrawal. Clients exercising their right of withdrawal must repay the principal sum together with the interest to accrue from the date of extension to the repayment of the principal sum within 30 (thirty) days, at the latest, as of the date on which the notice of withdrawal is submitted to the bank. Otherwise, the withdrawal shall be deemed invalid. In this circumstance, an event of default will occur due to the late payment of the loan installments fall in the thirty-day period after the withdrawal notification and the default interest will be charged. The interest is calculated based on ...
Consumer loan. It has been agreed by the Management to enhance the amount of Consumer Loans to Clerical Staff and Bankmen from the existing limit of Rs.35,000/- to Rs.70,000/-, subject to other conditions in force.