Common use of Interest Rate Reduction Clause in Contracts

Interest Rate Reduction. I may qualify for a 0.25% interest rate discount during repayment if I set up automatically withdrawn payments from a qualifying personal deposit account. The 0.25% interest rate reduction is effective the day EFT application is successfully processed during the Repayment Period. The discount may reduce my monthly payment and the amount of interest I will pay over the life of the loan. I also agree that, if I cancel the automatic debits, or if any automatic withdrawals that I authorized are returned or declined, Lender will increase my interest rate by 0.25 percentage points back to the original Fixed Rate. I understand that if Lender cancels my automatic payment discount due to withdrawals that are declined or returned, I may apply again for the automatic payment discount by re-submitting my bank account information to Lender or the servicer.

Interest Rate Reduction. I may qualify for a 0.25% interest rate discount during repayment if I set up automatically withdrawn payments from a qualifying personal deposit account. The 0.25% interest rate reduction is effective the day EFT application is successfully processed during the Repayment Period. The discount may reduce my monthly payment and the amount of interest I will pay over the life of the loan. I also agree that, if I cancel the automatic debits, or if any automatic withdrawals that I authorized are returned or declined, Lender will increase my interest rate by 0.25 percentage points back to the original Fixed Rate. I understand that if Lender cancels my automatic payment discount due to withdrawals that are declined or returned, I may apply again for the automatic payment discount by re-re- submitting my bank account information to Lender or the servicer.

Interest Rate Reduction. I may qualify for a 0.25% interest rate discount during repayment if I set up automatically withdrawn payments from a qualifying personal deposit account. The 0.25% interest rate reduction is effective the day the EFT application is successfully processed during the Repayment Period. The discount may reduce my monthly payment and the amount of interest I will pay over the life of the loan. I also agree that, if I cancel the automatic debits, or if any automatic withdrawals that I authorized are returned or declined, Lender will increase my interest rate by 0.25 percentage points back to the original Fixed Rate. I understand that if Lender cancels my automatic payment discount due to withdrawals that are declined or returned, I may apply again for the automatic payment discount by re-submitting my bank account information to Lender or the servicer.

Interest Rate Reduction. I may qualify for a 0.25% interest rate discount during repayment if I set up automatically withdrawn payments from a qualifying personal deposit account. The 0.25% interest rate reduction is effective the day EFT application is successfully processed during the Repayment Period. The discount may reduce my monthly payment and the amount of interest I will pay over the life of the loan. I also agree that, if I cancel the automatic debits, or if any automatic withdrawals that I authorized are returned or declined, Lender will increase my interest rate by 0.25 percentage points back to the original Fixed Rate. I understand that if Lender cancels my automatic payment discount due to withdrawals that are declined or returned, I may apply again for the automatic payment discount by re-submitting resubmitting my bank account information to Lender or the servicer.