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.
Total Cost of Credit means the credit charges plus application fee;
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;
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.
We calculate the Total Cost of Credit as a single amount for all Cards issued under the Service Contract, based on the data and assumptions used to calculate the Initial Annual Percentage Rate specified in the Service Contract.
The calculation of the Total Cost of Credit shall be governed by the assumptions set forth in clause 1.9 of the Agreement.
More Definitions of Total Cost of Credit
Total Cost of Credit means the difference between
Total Cost of Credit means the total cost of credit as defined in the Central Bank Prudential Guidelines 2013
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.
Total Cost of Credit means all applicable commission or profit charges and recurring non-commission or non- profit fees and charges to be paid by the Cardholder excluding any penalty charges for the credit.
Total Cost of Credit means the total dollar amount you have to pay during the term of the loan in order to get a loan. Your creditor must tell you in writing the total cost of credit (finance charge) and the annual percentage rate (APR). If your creditor requires credit insurance, then these figures must include the credit insurance premiums.
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.