Consumer Loan Payments Clause Samples
The Consumer Loan Payments clause outlines the borrower's obligations regarding the repayment of a loan, specifying how and when payments must be made. Typically, it details the payment schedule, acceptable methods of payment, and any applicable late fees or penalties for missed payments. This clause ensures both parties understand the repayment process, reducing the risk of misunderstandings and helping to enforce timely and consistent payments.
Consumer Loan Payments. You may provide us with Transfer Instructions requesting that we transfer funds from your Personal Deposit Account(s) (other than certificates of deposit, and individual retirement accounts ("IRAs")) that are Linked Accounts to Online Banking to make either one-time or recurring payments on those Consumer Loans you have with us that are Linked Accounts. Some limitations to the frequency of Consumer Loan transactions may apply.
Consumer Loan Payments. You may provide us with Transfer Instructions requesting that we transfer funds from your Personal Deposit Account(s) (other than certificates of deposit, and individual retirement accounts ("IRAs")) that are Linked Accounts to Online Banking to make either one-time or recurring payments on those Consumer Loans you have with us that are Linked Accounts. Please limit the number of payments made from your savings or money market accounts in accordance with the transaction limitations for these accounts discussed in EFT Disclosure, and in your Deposit Account Agreements. Some limitations to the frequency of Consumer Loan transactions may apply.