Periodic Payment

The resident with an Accommodation Bond agreement has the option to make Periodic Payments in lieu of depositing a Lump Sum with the home. Periodic Payments are normally paid either monthly, fortnightly or weekly. The amount of the Periodic Payment is based on two components. A Transfer amount, which is equivalent to the Transfer from the Lump Sum and an Interest Component, which is equivalent to the interest charge that may be levied on an unpaid Lump Sum.