Only for Purchased Goods bought at https://rndproductsbd.com/
a. The preamble portion of this policy shall be deemed to be an integral part of this policy.
b. The terms, conditions, covenants etc. contained in this agreement shall apply, subsist and be operative in respect of the credit facilities granted or to be granted by the Bank and this agreement shall be construed and read as part and parcel of documents/agreements executed/to be executed by the Borrower(s) in favour of the Bank.
c. The Loan Application shall be deemed to constitute the basis of this agreement and of the loan advanced or to be advanced by the Bank hereunder.
d. The Borrower(s) agree and understand that whenever the context requires, singular term shall include plural and plural term shall include singular.
a. The Borrower agrees to repay the loan amount together with interest in the period specified while buying the product in equated monthly instalments (EMI).
b. The first of such instalment shall be paid on or before the date specified (as per the arrangement of the BANK) and subsequent instalments on or before the same day of each month thereafter, till complete repayment.
c. The Loan, interest, compound interest, default interest, any other charges, dues and monies payable, costs and expenses reimbursable, as outstanding from time to time and whether any of them due or not, are hereinafter collectively referred to as “Outstanding
Balance”. The Borrower shall pay interest on the Loan, the unpaid due interest and all other outstanding charges and monies (except the default interest), at the rate of interest specified in the Schedule hereto, on the outstanding daily balance from the date of Disbursement, compoundable at monthly rests.
d. The Bank in its sole discretion would be entitled to change the said rate of interest from time to time including on account of changes made by Bangladesh Bank, which would be intimated to the Borrower(s) and would be binding upon the Borrower(s). The Borrower shall also pay and bear all interest tax, if any, as applicable from time to time. The Borrower (s) shall repay the Loan and pay the interest that is due from time to time by way of equated monthly instalments (EMIs) as specified in the Schedule or as may be specified by the Bank from time to time (time being the essence of the contract). The Borrower has perused, understood and agreed to Bank’s method of calculating EMIs as also the appropriation thereof into principal and interest.
e. The payment of all the monies by the Borrower including EMIs shall be made on or before the respective due dates, at such place as the Bank may require, without any set-off or counterclaim or withholding or deduction (save as required by law in which case the amount payable by the Borrower to the Bank shall be increased to the amount which after making such deduction or withholding equals the original due amount as if no withholding or deduction were required ), by way of one or more modes and instruments including post-dated cheques (“PDCs”), Standing Instructions (SI)/ Electronic Clearing System (ECS) instructions/ other mode/instrument, as acceptable to the Bank from time to time.
f. If any due date falls on a non-business day of the Bank, the payment shall be made by the Borrower on the immediately preceding business day of the Bank. In case of cheques/other instrument, the payment shall be deemed to have been made by the Borrower only at the point of time the sum is credited and realized fully in Bank’s account irrespective of the date of instrument or time of receipt or presentation of instrument.
g. In case of any default, the Borrower shall without prejudice to Bank’s other rights and remedies, pay additional /default interest at the rate mentioned in the relevant clause or
Application or Sanction Intimation Letter or as may be prescribed by the Bank, over and above the then applicable rate of interest till full payment is made /default is cured. This liability shall not act as justification for any default.
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• By visiting this page on our website: https://rndproductsbd.com/contact.php
• By sending us an email: rnd.productsbd@gmail.com
