Post by overthehill on Aug 31, 2022 15:18:15 GMT
Where in the loan information or dashboard does it inform or show which option is applicable or do I have to wait 30 days ?!
The Borrower will usually pay interest as:
1. ‘Retained’, in which case an amount equal to Your Interest at the Interest Rate
will be paid promptly into Your E.wallet each month.
will be paid promptly into Your E.wallet each month.
2. ‘Serviced’ – in which case, when the Borrower is able to make an interest
payment, it will make such payment of interest and at that time an amount
equal to Your Interest at the Interest Rate will be paid promptly into Your
E.Wallet – sometimes We call this ‘pay when paid’.
payment, it will make such payment of interest and at that time an amount
equal to Your Interest at the Interest Rate will be paid promptly into Your
E.Wallet – sometimes We call this ‘pay when paid’.
3. ‘Rolled’ – In this instance, Interest will continue to accrue and will be added to
the outstanding liabilities that are due from that Borrower. Interest is likely to
accrue this way on the occurrence of an Event of Default. Any such Interest will
be paid to You in accordance with paragraph 9(b)(Partial Repayment/Procedure
for Allocation).
the outstanding liabilities that are due from that Borrower. Interest is likely to
accrue this way on the occurrence of an Event of Default. Any such Interest will
be paid to You in accordance with paragraph 9(b)(Partial Repayment/Procedure
for Allocation).
