Dear Clients,

With effect from 15 July 2023 there will be a revision to the cash advance fee for credit cards as well as finance charges for credit cards, credit card funds transfer, credit card instalment and personal loan accounts.

The following changes will apply:

1.Cash advance fee will be revised from 6% to 8% with a minimum fee of S$15

2.Effective interest rate (“EIR”) on credit cards will be revised from 26.9% p.a. to 27.9% p.a.

3.Effective interest rate (“EIR”) for credit card funds transfer, credit card instalment and personal loan accounts will be revised from 26.9% p.a. to 29.9% p.a.

4.Late interest for credit cards funds transfer will be revised from EIR of 28% p.a. to 29.9% p.a.

5.Quasi-cash transactions under MCC category 7995 will be regarded as cash advances. Cash advance fee per for each of these transactions will also be charged in addition to the finance charges on the amount withdrawn from the date of the transaction until the date of full payment. To find out more, please refer to the list of Frequently Asked Questions.

Our prevailing terms and other communications to you, including but not limited to credit card terms, pricing guide, applicable terms and conditions will be amended accordingly effective from 15 July 2023.

The ‘Important Information’ section on your statements will be updated in the next 1 or 2 statement cycles following this change.

Thank you for banking with Standard Chartered.