When investing in a memorial lot, it’s important to understand the difference between zero interest and a penalty charge. Although both relate to your payment plan, they serve entirely different purposes.
What does Zero Interest mean?
One of the advantages of choosing Valencia Memorial Gardens is that we offer zero interest on our monthly installment plans.
This means that the Total Contract Price (TCP) remains the same throughout your payment term. Whether you choose a shorter or longer installment period within the approved payment options, no additional interest is added to your contract price.
With zero interest, your monthly payments go directly toward paying for your memorial lot, making it easier to plan your finances without worrying about extra financing charges.
Benefits of Zero Interest
- No additional interest charges on monthly installments.
- The Total Contract Price (TCP) remains unchanged.
- Easier budgeting with fixed monthly payments.
- More affordable and transparent payment terms.
What is a Penalty?
A penalty is different from interest. It is not part of the Total Contract Price (TCP) and is only applied when a client fails to pay the monthly installment on time.
At Valencia Memorial Gardens, clients are given a 30-day grace period after their monthly due date. If the monthly installment remains unpaid beyond this grace period, a 5% penalty will be applied to the overdue monthly installment in accordance with company policy.
This means that no penalty is charged immediately after the due date. The 5% penalty is imposed only after the 30-day grace period has lapsed, giving clients additional time to settle their monthly obligation.
Key Points About the Penalty
- A 30-day grace period is provided after every monthly due date.
- A 5% penalty is applied only after the grace period has expired.
- The penalty applies to the overdue monthly installment—not to the Total Contract Price.
- Paying your monthly installment within the grace period helps you avoid any penalty charges.
Enjoy Affordable Payments with Valencia Memorial Gardens
At Valencia Memorial Gardens, we believe that planning ahead should be both affordable and convenient. That’s why we offer zero-interest monthly installment plans, allowing you to secure a memorial lot without additional financing charges.
To maximize this benefit, simply pay your monthly installments on or before the due date. Doing so allows you to enjoy the convenience of zero interest while avoiding the 5% late payment penalty, keeping your account in good standing and your investment protected.
