Click ‘Balance Transfer’ or ‘Loan on Card’ banner to access forms
Apply for Balance Transfer or a Loan on Card
Disbursement/ Transfer within 5 working days
At its sole discretion, the Bank reserves the right to accept or reject any Balance Transfer application.
This Balance Transfer will be made available at the sole and absolute discretion of the Bank to selected credit card members.
The Balance Transfer transaction will be up to a maximum of 90% of the Standard Chartered credit card limit.
Within the loan period, whenever you make the payment towards the existing credit card outstanding amount, such payment will first be utilised towards the EMI that becomes due in the month and all fees and interest are cleared followed by the 1% of Balance Transfer and Smart Payment Plan outstanding and 1% of retail outstanding in that order. After deducting the above from your monthly payment, then the remaining amount of that payment shall be utilised towards clearing the Balance Transfer and Smart Payment Plan and thereafter only 100% of this is cleared, then the retail outstanding will get paid.
The Balance Transfer transaction amount(s) will be debited to Standard Chartered credit card. Such debit will be remitted to the bank that issued such credit card in the United Arab Emirates (“UAE”). The remittance will be done from our Bank to the other bank by way of a Central Bank transfer by stating the credit card account details.
Your payments to the other bank on your outstanding amounts should continue to be made up until the balance has been transferred.
The Bank will not be liable for the payment of any overdue charges, late payment fees, finance charges, or any other charges/liabilities on other credit cards mentioned above that may occur due to any payment delay done from your end.
The EMI will be included in the monthly credit card statement of account as the “minimum amount due”. In the event that the customer fails to make the payment of this “minimum amount due”, the credit card shall be charged with interest on the unpaid balance at the applicable rate in accordance with the credit card terms and conditions.
If the credit card account is closed by the customer or the Bank before all EMI have been charged, then all of the future EMI shall be accelerated and debited to the final credit card Statement of Account as one figure.
The Bank is entitled to accelerate all future equal monthly instalments and forthwith debit the credit card statement of account with the same in the event of:
The failure to make payment of an EMI ; or
An application for bankruptcy or if the bankruptcy proceedings have been initiated against the customer; or
A court order has been issued to freeze the customer’s accounts; or
The customer’s death.
The Bank reserves its right to cancel the offer and charge interest on the transferred amount at the prevailing interest rate from the Balance Transfer date, in the event of failure of payment of the minimum amount due on the payment due date.
In case of pre-closure of the Balance Transfer, a charge of 2% of the outstanding amount will be levied subject to a minimum amount of AED 250.
These terms and conditions are in addition to the other terms and conditions applicable to all credit card accounts as contained in the Credit Card Terms or Credit Card Agreement.
A Balance Transfer will not be performed from a Standard Chartered credit card to another credit card account held with Standard Chartered Bank.
The Loan on Card amount requested will be debited to the Standard Chartered Credit Card (“credit card”) and will be remitted to the bank account specified by way of an electronic funds transfer.
The amount shall be repayable in equal monthly instalments in accordance with the tenor specified. The credit limit on the Standard Chartered Credit Card will be blocked by the amount of the loan. An amount equal to the monthly paid EMI will be released every month.
The EMI will be included in the monthly credit card statement of account as the “minimum amount due”. In the event that the customer fails to make payment of this “minimum amount due”, the credit card shall be charged with interest on the unpaid balance at the applicable rate in accordance with the credit card terms and conditions.
If the credit card account is closed by the customer or the Bank before all the EMIs have been charged, then all the future EMIs shall be accelerated and debited to the final credit card Statement of Account as one figure.
The Bank is entitled to accelerate all future EMIs and forthwith debit the credit card statement of account with the same, in case of:
The failure to make payment of an Equal Monthly Instalment; or
An application for bankruptcy or if the bankruptcy proceedings have been initiated against the customer; or
A court order has been issued to freeze the customer’s accounts; or
The customer’s death.
The interest rate selected and tenure selected shall be levied on the Loan on Card amount. All other outstanding on the credit card account shall be levied interest at the prevailing interest rate.
The minimum amount available from the Bank under “Loan on Card” is AED 2,000.
In case of pre-closure of the Loan on Card, a charge of 2% of the outstanding amount will be levied subject to a minimum amount of AED 250.
The Bank may, at its sole and absolute discretion and without notice, withdraw or revise this Loan on Card.
This Loan on Card will be made available at the sole and absolute discretion of the Bank to selected credit card members.
These terms and conditions are in addition to the terms and conditions applicable to all credit card accounts as contained in the Credit Card Terms or Credit Card Agreement.
