Days past payment due date

Interest/Effective Profit rate p.a.

Scenario

0 – 60 days

Prevailing Interest Rate / Effective Profit Rate

When the monthly payment for the Facility is paid on time or paid between one (1) to sixty (60) days past payment due date, the interest /effective profit rate for the Facility is the existing Prevailing Interest Rate/Effective Profit Rate.

61 - 90 days

Prevailing Interest Rate / Effective Profit Rate + 2%

When the monthly payment for the Facility is NOT paid and is overdue between sixty-one (61) to ninety (90) days past the payment due date, the interest /effective profit rate for the Facility will be increased to Prevailing Interest Rate/Effective Profit Rate  + 2% p.a.

91 days & above

Prevailing Interest Rate / Effective Profit Rate + 4%

When the monthly payment for the Facility is NOT paid after ninety (90) days past the payment due date, the interest / effective profit rate for the Facility will be increased to Prevailing Interest Rate / Effective Profit Rate+ 4% p.a.