Minimum Installment Amount definition
Examples of Minimum Installment Amount in a sentence
If no payment is received on or before the Payment Due Date or if the payment is below the Minimum Installment Amount Payable, a Late Payment Fee as indicated in the Qwarta Agreement shall be charged.
The Qwarta account holder must pay the Minimum Installment Amount Payable, as shown in the e-Statement and must be received by Home Credit on or before the Payment Due Date.
The Minimum Installment Amount Payable is the minimum amount to be paid by the Qwarta account holder on or before the Payment Due Date.
In the event that the Qwarta account holder fails to pay the Minimum Installment Amount Payable on the Payment Due Date, Home Credit reserves the right to temporarily suspend the Qwarta until payment is made.
The Qwarta account holder is required to pay at least the Minimum Installment Amount Payable as indicated in the e-Statement for every Billing Cycle.
Payment which is less than or exact amount of the Minimum Installment Amount Payable shall be applied in the following order: the overdue amount (if any); the Monthly Installment Amount due (if any), the penalties, interest charges, fees and principal.
Upon receipt of a payment from a Qwarta account holder whose account carries different interest rates for different types of purchases such as regular purchases, installments, balance transfers, Home Credit shall apply amounts in excess of the Minimum Installment Amount Payable first to the fees and charges, and then to the billed balance bearing the highest rate of interest, followed by the billed balance bearing the next higher rate of interest, until the payment is exhausted.