Ad Majorem.....Wealth Builders
Angono, Rizal, PHL | February 26, 2013
When the new
Majorem team took over, everything was in shambles - including the
policy on arrears and the corresponding penalty. The current
methodology it was found out involves a straight computation on a single
amortization.,
The interest rate is only l.5% per
month, however penalties stand at 4 per cent per month per every single
amortization (the PN contains this provision)
The
signed document calls for penalty on each and every single amortization
until that amortization is paid. However, the SBU personnel says that
the SOA only mentions a straight line computation. However, what the
SOA merely indicated is that each and every payment, when unpaid shall
be charged that penalty every month until paid.
I hope that settles the issue.
Subscribe to:
Post Comments (Atom)
1 comment:
Thank you sir for further clarifying the issue Prof. Yunus explain that to instill discipline in credit we must insist the payment of loan in full and in time, at the same extending must be in all fairness to both parties penalizing of non payment on time and returning in case we took overpayment and computing interest up to the date of full payment demonstrate that we are being just to our borrower.
Post a Comment