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Balance Transfer
 

Terms and Conditions:
Balance Transfer
1. The Bank has the sole discretion to accept or reject any Balance Transfer application.
2. This Balance Transfer will be made available at the sole and absolute discretion of the Bank to selected credit card members.
3. The Balance Transfer transaction will be up to a maximum of 90% of the Standard Chartered Credit Card limit.
4. The Balance Transfer transaction amount(s) will be debited to the Standard Chartered Credit Card and will be remitted to the other bank within the United Arab Emirates ("UAE") by way of a Central Bank transfer within 15 working days from the date of approval of the application.
5. All payments received by the Bank from the cardholder may be applied in the following order of payment or such other order of priority as the Bank may think fit.
a) All unpaid Finance charges, Charges, Fees, Cash Advances, Balance Transfer and other costs shown on any previous Statement of Account.
b) All unpaid Finance charges, Charges, Fees, Cash Advances, Balance Transfer and other costs shown on any current Statement of Account
c) All unpaid Card Transactions shown on any previous Statement of Account.
d) All unpaid Card Transactions shown on any current Statement of Account.
e) All Finance charges, Fees, Cash Advances, and card transactions not yet shown on the current Statement of Account
6. Payments to the other banks should continue to be made until the balance has been transferred.
7. The Bank will not be liable for 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.
8. The interest rate applied on the outstanding Balance Transfer amount shall be 0% (Zero %), for a period of six months from approval of the application, where after the prevailing base interest rate will apply. All other out standings on the credit card account shall continue being levied interest at the prevailing interest rate.
9. A one-time processing fee of 3% of the Balance Transfer amount subject to a minimum of AED 300 will be charged to the card account. The processing fee charged will be subject to interest at the prevailing interest rate.
10. 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 to pay the minimum amount due on the payment due date,.
11. It is mandatory to set the monthly "Minimum Amount Due" payment at 5% of the credit card outstanding amount, by signing the standing instruction amendment form, to this effect.
12. 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.
13. A Balance Transfer will be not performed from a Standard Chartered credit card to other credit card accounts held with Standard Chartered Bank.
Smart Payment Plan
1. The Bank may, in its sole and absolute discretion and without notice, withdraw or revise the Smart Payment Plan ("SPP")
2. The SPP will be made available at the sole and absolute discretion of the Bank to selected credit card members.
3. The SPP 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 within 10working days from the date of the approval of the application by the Bank, if applicable.
4. The monthly repayment on the SPP will be 5% of the principal outstanding on the repayment due date for the Tenure (hereinafter referred to as the "Repayment Instalment"). In addition, it is mandatory to set the monthly "Minimum Amount Due" payment at 5% of the credit card outstanding amount.
5. The Repayment Instalment will be included in the monthly credit card statement of account as the "minimum amount due". In the event that the customer fails to pay this "minimum amount due", the credit card shall be charged with the interest on the unpaid balance at the applicable rate in accordance with the credit card terms and conditions.
6. If the credit card account is closed by the customer or by the Bank before all Repayment Instalments have been repaid, then all of the remaining Repayment Instalments shall be accelerated and debited to the final credit card Statement of Account as one figure.
7. The Bank is entitled to accelerate all future monthly Instalments and forthwith debit the credit card statement of account with the same, on:
a) The failure to make payment of Repayment Instalment on the due date; or
b) An application for bankruptcy or if bankruptcy proceedings have been initiated againstthe customer; or
c) A court order has been issued to freeze the accounts; or
d) The customer's death.
e) A failure to repay the Bank any other outstanding amounts
8. Interest shall be levied on the SPP for the first 6 months at a preferential rate. After the initial 6 months, the outstanding amount on the SPP will be transferred to the credit card account and shall be levied interest at the prevailing credit card interest rate.
9. All other amounts outstanding on the credit card account (e.g. retail balance and all other fees and charges) shall be levied interest at the prevailing interest rate.
10. A one-time processing fee of 3% of the SPP amount subject to a minimum of AED 300 will be charged to the credit card account at the commencement of the SPP. The processing fee charged will be subject to interest at the prevailing interest rate.
11. 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.
Fixed Payment Plan
1. The Bank may, in its sole and absolute discretion and without notice, withdraw or revise this Fixed Payment Plan ("FPP")
2. This FPP will be made available at the sole and absolute discretion of the Bank to selected credit card members.
3. The FPP 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 within 10 working days from the date of the approval of the application by the Bank, if applicable.
4. The amount shall be repayable in equal monthly instalments ("EMI") in accordance with the duration specified (the "Duration").
5. The credit limit on the Standard Chartered Credit Card will be blocked by the amount of the FPP. An amount equal to the EMI paid will be released every month.
6. 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.
7. 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.
8. The Bank is entitled to accelerate all future equal monthly instalments and forthwith debit the credit card statement of account with the same, on:
a) The failure to make payment of an Equal Monthly Instalment; or
b) An application for bankruptcy or if bankruptcy proceedings have been initiated against the customer; or
c) A court order has been issued to freeze the customer's accounts; or
d) The customer's death.
9. The interest rate selected and tenure selected shall be levied on the FPP amount. All other outstandings on the credit card account shall be levied interest at the prevailing interest rate.
10. A one- time processing fee of 3% of FPP amount subject to a minimum of AED 300 will be charged to the card account. The processing fee charged will be subject to interest at the prevailing interest rate.
11. The minimum amount available from the Bank under FPP is AED 2,000.
12. In case of pre-closure of the FPP, a charge of 2% of the outstanding amount will be levied subject to a minimum amount of AED 250.
13. These terms and conditions are in addition to the supplementary to the terms and conditions applicable to all credit card accounts as contained in the credit card Agreement.
Easy Pay
1. The Bank may, in its sole and absolute discretion and without notice, withdraw or revise this Easy Pay ("Easy Pay").
2. This Easy Pay will be made available at the sole and absolute discretion of the Bank to selected credit card members.
3. The Loan shall be repayable in equal monthly instalments ("EMI") in accordance with the duration specified (the "Duration").
4. The credit limit on the Standard Chartered Credit Card will be blocked by the amount of the Easy Pay. An amount equal to the EMI paid will be released every month.
5. 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.
6. 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.
7. If at the time of processing the Easy Pay the retail balance is less than the amount stated for booking than the Easy Pay will not be processed.
8. The Bank is entitled to accelerate all future equal monthly instalments and forthwith debit the credit card statement of account with the same, on:
a) The failure to make payment of an Equal Monthly Instalment; or
b) An application for bankruptcy or if bankruptcy proceedings have been initiated against the customer or
c) A court order has been issued to freeze the customer's accounts; or
d) The customer's death.
9. No Interest shall be levied on the Easy Pay account for the selected month. All other outstanding on the credit card shall continue to accrue interest at the prevailing interest rate.
10. A one-time processing fee of 4% of Easy Pay amount subject to a minimum of AED100 will be charged to the credit card account. The processing fee charged will be subject to interest at the prevailing interest rate.
11. In case of pre-closure of the Easy Pay, a charge of 2% of outstanding principal amount will be levied subject to a minimum charge of AED 250.
12. The minimum amount / transaction available from the Bank under Easy Pay is AED 1,000.
13. These terms and conditions are in addition to and supplementary to the terms and conditions applicable to all credit card accounts as contained in the credit card Agreement.
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