• Interest Rate: The loan provided by our company will attract an interest rate of 5% per month on the principal amount.
• Payment Method: The loan repayment will be made monthly through direct debit from the borrower's employer.
• Interest Accrual: The interest will be added to the principal amount on the 3rd day of each month and calculated at a rate of 5% per month on the principal.
• Loan Repayment: The borrower agrees to repay the loan amount and the accrued interest in equal monthly instalments, which their employer will deduct from their salary on the designated due date.
• Late Payment: In case of late or missed payments, the borrower will be subject to additional charges or penalties as per the company's policies, and the interest will continue to accrue on the outstanding balance.
• Prepayment: The borrower has the option to prepay the loan at any time before the due date, subject to the company's prepayment policies, which may include prepayment penalties or charges.
• Default: If the borrower defaults on the loan by failing to make timely payments or breaching any other terms of the agreement, the company reserves the right to take appropriate legal actions to recover the outstanding loan amount, interest, and any additional charges or penalties.
• Amendments: The terms and conditions of the loan agreement may be amended by the company at its sole discretion with prior notice to the borrower.
• Entire Agreement: This loan agreement constitutes the entire understanding between the borrower and the company, and supersedes any prior negotiations, understandings, or agreements, whether written or verbal, relating to the loan.

Please note that seeking legal advice is always recommended to ensure that your terms and conditions comply with applicable laws and regulations in your jurisdiction, and to tailor them to your specific needs.