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Debt Restructuring Plan (DRP)

Debt Restructuring Plans

Standard Chartered Bank UAE is committed to helping our clients overcome any short- or long-term financial instability that they may be experiencing. If you’re having difficulties making your monthly repayments, our dedicated Debt Restructuring Specialists work with you to develop a personalized debt repayment plan that suits your needs and budget.

Supporting you through the tough times

In the event that you are not be able to make your monthly credit card or loan / finance repayments, or have already missed a payment, contact us as soon as possible. We are here to discuss your repayment options and to find the best solution given your financial circumstances.

Types of Debt Restructuring Plans

a) Fully amortized: Where the entire outstanding amount is converted into a new loan at the same or reduced rate of interest and for a longer tenor

b) Interest Only (IO): Where the client is given an option to pay only the interest for a designated period of time.

Key features of this restructuring plan:

– Tenure up to 7 years for Unsecured Products ( Credit Card and Personal Loan ) . For Secured ( Mortgage Loan and Auto Loan )  – To be decided post review of application.
– Additional condition: The maximum duration for which the Interest Only option is allowed is only 6 months. For Mortgage accounts, the maximum duration could be up to 3 years.
– Reduced interest/finance rates.
– No early repayment penalty.
– Unsecured facilities will be cancelled and converted to a lower instalment plan.
– Account status in Al Etihad Credit Bureau (AECB) will be reported as restructured.


– If you are facing difficulty to meet your monthly repayment but you have a stable source of income.
– All instances of restructuring should be accompanied by documents to substantiate the future source of your income.
– You must have had a relationship with the bank for a minimum of 6 months to avail a Debt Restructuring Plan.
– Additional condition for Interest Only option: you must have had a relationship with the bank for a more than 12 months.

Other Details:

Please read through the following documents before you apply for the DRP.

Terms and Conditions for DRP.
Online Terms & Conditions.
Debt Restructuring Plan (DRP) FAQs .

How to Apply for DRP:

Please reach out to us on the below contact number or email address with the below set of documents for us to review your application.

– Phone Banking: 600 5222 88 (24-hour)
– Email: Restructure.UAE@Sc.com


– Written consent sent to us from your registered email address to extract your Al Etihad Credit Bureau
– Evidence of salary / income reduction.
– Last 6 months statements/VAT Statements (if any).
– Any other document to evidence financial stress.


  • What is the processing time for the debt restructuring programme?

    Our dedicated Debt Restructuring Specialist will provide you with the right solution within 7 business days once all the required documents are provided.

  • What is the maximum tenure I can take up?

    Tenure up to 7 years for Unsecured Products. For Secured – To be decided after reviewing the application. Additional condition: The maximum duration for which the Interest Only option is allowed is only 6 months. For Mortgage accounts, the maximum duration could be up to 3 years.

  • Will there be any administrative fees/charges for taking up the debt restructuring programme?

    No, there are no administrative fees for processing the application.

  • Can I use my credit facilities after the debt restructuring programme is approved?

    No, all unsecured credit facilities will be cancelled and can no longer be utilized.

  • How does this debt restructuring programme impact my Credit Bureau Report?

    Credit Bureau will be reported as Restructured which may affect your future lending applications.

  • Will I be receiving any confirmation letter on the approved debt restructuring programme?

    Upon approval of the debt restructuring programme, an offer letter will be sent to your registered email address within 7 business days.

  • Is there any discount if I make an early settlement?

    If you decided to make a full settlement on the outstanding before your tenure is up, you will be saving on the future interest.

  • Can I request for my credit facilities to be reinstated once everything is paid up?

    We encourage you to newly apply for any of our products in future.

Term And Condition

  • 1. Interpretation and Definition
    • 1.1 In these terms and conditions, unless the context otherwise requires: –
    • 1.1.1 “Agreement” means the agreement between the Bank and the Account Holder as recorded in the Letter and these terms & conditions.
    • 1.1.2 “Account Holder” means the customer of the Bank, particulars of whom are stated in the Letter.
    • 1.1.3 “Bank” means Standard Chartered Bank UAE, its successors, and assigns.
    • 1.1.4 “Debt Restructure” means the restructure of the Original Debt due and owing from the Account Holder to the bank particularised in the Letter.
    • 1.1.5 “Letter” means the Debt Relief Program or Special Instalment Loan offer letter from the Bank to the Account Holder.
    • 1.1.6 “Original Agreement” means the terms and conditions governing in the original account as may be varied from time to time in the event is more than one original account, the respective original agreements.
    • 1.1.7 “Original Debt” means the debt due and owing from the Account Holder to the Bank under the Original Agreement.
    • 1.1.8 “Restructured Debt” means the debt due and owing from the Account Holder to the Bank after Debt Restructure including interest and charges incurred for the tenure of the Program or Loan.
    2. Acceptance
    • The Agreement will not take effect unless and until the Account Holder shall have made payment of the first instalment pursuant to the terms of the Letter. The payment of the first instalment within the prescribed time or such extended time as the Bank may in its absolute discretion agree, shall constitute all the Account Holder’s acceptance of this Agreement.
    3. Applicability of Term and Conditions
    • The terms & conditions herein are in addition to the Original Agreement which continues to govern the relationship between the Account Holder and the Bank. In the event of any inconsistency between the terms and conditions herein and those in the Original Agreement, the terms and conditions set out herein shall prevail in so far as they relate to the Debt Relief Program or the special instalment Loan.
    4. New Account
    • The debit balance in respect of the Original Debt will be transferred to a new account for repayment purposes only. The Account Holder shall make payment towards the Restructured Debt into the said new account as notified by the Bank.
    5. Use of Bureau Report and Impact on Credit Bureau Records and Withdrawal of Benefits
    • By applying for “DRP”, customer explicitly consent SCB UAE for retrieval of their Bureau Records for review purpose. Once the Agreement takes effect pursuant to clause 2 of these terms & conditions, only in cases where the Account Holder has applied for and accepted the Debt Relief Program offer, the Account Holder’s credit rating with Al Etihad Credit Bureau (AECB) UAE will be recorded as “Restructured” for DRP application. This may affect the Account Holder’s current banking facilities, pending and/or future applications for any loans/credit facilities. In addition, once the Agreement takes effect, all benefits, or privileges in connection with the Original Agreement, including but not limited to the reward, rebate or mileage program awards shall be withdrawn. Where the Account Holder has previously made Instalment Plan purchase under the original account, such plan shall be terminated and the aggregate of all the remaining instalments not previously charged in relation to all or any Instalment Purchase as well as the full instalment Purchase Price in relation to Instalment Purchase made but not yet charged to the original account shall become due and payable immediately.
    6. Reinstatement
    • The decision to reinstate the account Holder’s Account with the Bank whether upon full payment of the Restructured Debt or otherwise is not automatic and is subject to the Bank’s absolute discretion.
    7. Interest/Charges/Fee
    • 7.1 The Account Holder shall pay to the Bank Interest/Charges/Fee at such rate as stated in the Letter or such Interest/Charges/Fee as the Bank may determine from time to time. The same shall be calculated on a daily basis based on monthly rests.
    • 7.2 If the Bank does not receive payment of the instalment in full by the payment due date, the Account Holder must pay, in addition to the Interest/Charges/Fee as per the Original Agreement.
    • 7.3 The Interest/Charges/Fee payable under this Agreement are payable by the Account Holder after as well as before judgement.
    8. Review
    • The bank shall be entitled in its absolute discretion and at any time to vary or amend this Agreement by giving written notice to Account Holder.
    9. Appropriation
    • The Bank has the right to appropriate all payments made by the Account Holder towards any of the accounts maintained by the Account Holder with the Bank and in any manner or priority that the Bank sees fit notwithstanding any specific appropriation by the Account Holder or any other person making the payment.
    10. Default If any of the following events of default shall occur: –
    • 10.1 the Account Holder fails to pay any amount due under the Agreement on the due date or on demand, if so payable.
    • 10.2 the Account Holder fails to observe or perform any of his obligations under the Agreement or under any undertaking or arrangement entered into in connection herewith.
    • 10.3 any provision of the Agreement is or becomes for any reason, invalid or unenforceable.
    • 10.4 the Account Holder convenes a meeting of his creditors or proposes or makes any arrangement or composition with or any assignment for the benefit of his creditors or a bankruptcy petition is filed against or by the Account Holder.  any adverse circumstances occur which in the opinion of the Bank materially and adversely affect the ability of the Account Holder to perform his obligations under the Agreement, then the Bank may by notice to the Account Holder terminate the Debt Relief Program. In such event, the terms and conditions of the Original Agreement shall apply.
    11. Evidence of debt
    • The Bank’s records (including electronic records) of all matters relating to the accounts in respect of the Original Debt or Restructured Debt and any certificate signed by any of the Bank’s officers stating the indebtedness due and payable to the Bank as at any specified date shall be conclusive save for manifest error.
    12. Indemnity
    • The Account Holder shall indemnify the Bank from and against any losses, damages or liabilities and any reasonable costs and expenses which it may incur as consequence of the occurrence of any Event of Default, or otherwise in connection with the Agreement. Without prejudice to its generality, the indemnity shall extend to any interest, fees, or other sums whatsoever paid or payable (including legal costs and disbursements on an indemnity basis) as a result of the said event.
    13. Joint Account
    • Unless expressly provided to the contrary in the Original Agreement, the Account Holders of a joint account agree to be jointly and severally bound by the Agreement and to be jointly and severally liable in respect of the account. All communication sent or given to either account holder is deemed to be sent or given to both and any notice, request, acceptance, or instruction, written or oral, from either joint account holder shall be deemed to be from both. Unless specifically provided in the Agreement or the Original Agreement, the Bank shall be entitled to act on the instructions (whether oral or written) of any one of the joint account holders.
    14. Service of Process
    • The Bank may serve any Writ of Summons, Statement of Claim or other legal process or document requiring personal service in respect of any action or proceedings by leaving it at the Account Holder’s last known address (including PO box address) on the Bank’s records or sending it by ordinary post to the Account Holder’s last known address (including PO box address) on the Bank’s records. The Account Holder consents to such service to be deemed as effective personal service.
    15. Waiver
    • For the avoidance of doubt, the Bank’s indulgence in granting the Debt Relief Program and the terms and conditions herein shall not operate and/or be construed as an offer for settlement or compromise or waiver of any of the Bank’s right nor shall it in any way prejudice or affect the right of the Bank afterwards to act strictly in accordance with the power conferred on the Bank under the Original Agreement.
    16. The Contracts (Right of Third Parties) Act
    • Unless expressly provided to the contrary in this Agreement and the Original Agreement, a person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act to enforce any terms of this Agreement or the Original Agreement.
    17. Illegality
    • If any one or more of the provisions of this Agreement or any part thereof shall be declared to be illegal, invalid or unenforceable under any applicable law in any jurisdiction, it shall not affect the legality, validity or enforceability of the remainder of this Agreement in such jurisdiction nor the legality, validity or enforceability of this Agreement in any other jurisdiction.
    18. Applicable Law
    • This Agreement shall be governed by and construed in accordance with the laws of UAE. The Account Holder hereby irrevocably submits to the non-exclusive jurisdiction of the court of UAE.