Common use of Fixed Rate of Interest Clause in Contracts

Fixed Rate of Interest. In the event the Borrower(s) opts for Fixed Rate of Interest, the rate of interest applicable to the Loan as at the date of execution of this Loan Agreement is mentioned in the Loan Summary Schedule. Though the rate of Interest is fixed at the beginning of the Loan , however the same is subject to change / revision upwards or downwards at the sole discretion of FICCL under exceptional and extraordinary changes in money market conditions.

Fixed Rate of Interest. In the event the Borrower(sBorrower ( s ) opts for Fixed Rate of Interest, the rate of interest applicable to the Loan as at the date of execution of this Loan Agreement is mentioned in the Loan Summary Schedule. Though the rate of Interest is fixed at the beginning of the Loan Loan, however the same is subject to change / change/ revision upwards or downwards at the sole discretion of FICCL under the exceptional and extraordinary changes in the money market conditions.