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Personal bank loan agreement: legal rights and duties. Fixed interest-rate personal loan

Personal bank loan agreement: legal rights and duties. Fixed interest-rate personal loan

Federally regulated finance institutions (FRFI) must definitely provide you with specific information about your private loan in your loan contract or along side it. The details needed is determined by the kind of loan you obtain. The absolute most important info will be summarized in a information field. The institution that is financial offer these records for you written down, or electronically if you consent to get required information in electronic structure in the place of as paper papers.

With the following information in an information box at the beginning of your loan agreement or in another document you receive with it if you apply for a personal loan with a fixed interest rate at a FRFI, the institution must provide you:

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