A bona fide creditor, who redeems from the purchaser at the sale, shall hold the property subject to redemption by the original debtor, or any other of the original debtor’s creditors, upon the same terms on which it was redeemable in the hands of the first purchaser or any person claiming under that purchaser; that is to say, by the party proposing to redeem paying or tendering to the person holding the land the amount of money paid or credited by that purchaser, with interest at the current composite prime rate as published by the federal reserve board as of the date of purchase per annum thereon, and also agreeing to pay to the debtor the further sum of ten percent (10%) or more on the sum bid for the land when sold, or crediting the debtor with that amount or more on the debt owing to the purchaser by the debtor, or with a sum equal to ten percent (10%) or more upon the judgment of the creditor, at the election of the creditor.