A debit order for monthly installments for the loan from GP Bank , R2000. What does this mean?

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This means that GP Bank will automatically deduct R2000 from your bank account each month as payment towards the loan you have with them. This is known as a debit order, which is a convenient way for lenders to collect payments from borrowers without the need for manual payments each month.

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A debit order for monthly installments for the loan from GP Bank , R2000. What does this mean?

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