1. This Personal Credit Funds Transfer (6-month tenure) Processing Fee PCL Cashback Promotion (the “Promotion”) is available from 19 July to 31 August 2019 (both dates inclusive) (the “Promotion Period”) to existing customers of Standard Chartered Bank (Singapore) Limited (“Standard Chartered” or the “Bank”), who are individuals and receive a phone call (“Communication”) from the Bank about this Promotion and terms and conditions (each a “Selected Accountholder”). For the avoidance of doubt, this Promotion and the benefit referred to in the Communication is not transferable. By participating in the Promotion, the Selected Accountholder understands and agrees (i) that he/she is applying for a transfer of funds from the Personal Credit Line Account (as defined in Clause 2c below) to a credit card, credit line or bank account with any financial institution, excluding credit card accounts with the Bank and credit line accounts with the Bank and (ii) to be bound by these terms and conditions.

Eligibility

2. To qualify for this Promotion and receive the Cashback (as defined in Clause 5 below):
   1. the Selected Accountholder must be an accountholder of a Standard Chartered Personal Line of Credit/Overdraft Account and apply for a new Personal Credit Funds Transfer with the Bank during the Promotion Period via a phone call from a Standard Chartered Telesales Representative (“Application”). The minimum and maximum Personal Credit Funds Transfer amount applicable at the time of the Application is as set out in Clause 17 below;
   2. the Bank must receive and approve the Selected Accountholder’s Application for the Personal Credit Funds Transfer during the Promotion Period; and
   3. the Selected Accountholder’s Standard Chartered Personal Line of Credit/Overdraft account (the “Personal Credit Line Account”) must be validly existing (i.e. must not be suspended, cancelled or terminated for any reason during the Promotion Period and until 31 October 2019), in good standing, and conducted in a proper and satisfactory manner at all times, including at the time the Cashback is credited to the Selected Accountholder’s Personal Credit Line Account (as defined in Clause 9 below), as determined by the Bank in its sole and absolute discretion.

3. For the avoidance of doubt, this Promotion is only applicable to new Applications for Personal Credit Funds Transfer received and approved during the Promotion Period; and the Selected Accountholder must not have had his/her previous application for Personal Credit Funds Transfer suspended, cancelled or terminated for any reason prior to the new application and subsequently resubmit another Personal Credit Funds Transfer during the Promotion Period, for the purposes of this Promotion.

4. Notwithstanding the foregoing, the Bank may continue to process any Application received by the Bank up to seven (7) calendar days after the end of the Promotion Period, and the Bank shall retain the sole and absolute discretion to determine the eligibility of these Applications and/or allow the said Applications for the purposes of this Promotion on a case-to-case basis, subject to these terms.

5. If the Selected Accountholder satisfies the qualifying criteria set out in Clause 2a to 2c, read with Clauses 3 and 4 above, the cashback amounts equivalent to the Processing Fee (as defined in Clause 10 below), (“Cashback”) will be credited to the Selected Accountholder’s Personal Credit Line Account within 60 working days after the approval of the Application.

6. The Cashback is not transferable or exchangeable for cash or any other items.

7. In the event the Bank has determined that the Selected Accountholder is not eligible to receive the Cashback or to participate in this Promotion, or where the Bank has knowledge of subsequent events which would mean that the Selected Accountholder would not have been entitled to redeem the Cashback, the Bank reserves the right to claw back the Cashback or to deduct its value (or such other amount as it deems fit) from the Personal Credit Line Account with the Bank.

8. The Bank reserves the right to debit and/or forfeit the Cashback without compensation if the Selected Accountholder’s Personal Credit Line Account is not valid and/or in good standing, as determined in the Bank’s sole and absolute discretion.

9. A Personal Credit Funds Transfer will be created upon the approval of the Application (“Funds Transfer Account”). This is the same account as the Selected Accountholder’s Personal Credit Line Account where the funds will be transferred from.

10. A one-time non-refundable 1% processing fee on the amount transferred pursuant to the Application approved pursuant to this Promotion (the amount transferred being the “Approved Amount” and the fee on the Approved Amount, the “Processing Fee”) will be charged to the Personal Credit Line Account upon the approval of the Application.

11. The Approved Amount will be debited from the Personal Credit Line Account, treated in the same way as a charge arising from a normal funds withdrawal transaction and will be reflected in the statement issued for the Personal Credit Line Account. The Selected Accountholder must pay the monthly minimum payment indicated in his/her monthly Personal Credit Line Account statement for the Funds Transfer and other accounts (if there are transactions and/or outstanding balances) to prevent incurring additional fees and charges.

12. The Effective Interest Rate (EIR) of 2.08% p.a. is calculated taking into consideration the Processing Fee and based on the assumption that full repayment is made within the six months starting from the date the Application is approved with minimum monthly payments of 1% of principal plus interest, fees, charges in the first five months and full payment on the sixth month.

13. The promotional interest rate of 0% p.a. is valid for the six months starting from the date the Application is approved, after which the prevailing interest rate chargeable for the Selected Accountholder’s Personal Credit Line Account will apply. Interest is subject to compounding if it is not paid in full. The promotional interest rate is applicable only to the Approved Amount and not to existing outstanding balance, fees and charges associated with any funds/balance transfer, other card transactions, cash advance transactions and other funds/balance transfers.

14. If the Selected Accountholder and/or his/her secondary Accountholder(s) defaults on any payment in respect of the Selected Accountholder’s Personal Credit Line Accounts from the Bank during the six months starting from the date the Application is approved (also referenced in Clause 13 above) or for other reasons which the Bank deems appropriate at its sole discretion, the prevailing interest will be charged on the full outstanding amount of the Personal Credit Line Account. The bank shall also be entitled to withdraw the promotional interest rate and charge applicable finance charges and/or late payment charges at such rate as we may determine.

15. Payment must be made individually to the different accounts that the Selected Accountholder holds with the Bank. Payment made into another account or any credit balance in another account will not be automatically transferred into the Personal Credit Line Account to settle any outstanding amounts.

16. If payment(s) are not received by the due date for the Selected Accountholder’s Personal Credit Line Account, the Personal Credit Line Account will incur a late payment fee of S$80. The EIR applicable on the outstanding amount of the Personal Credit Funds Transfer will be adjusted to the prevailing interest rate of the Personal Credit Line account if the minimum payment due is not received in full by the next Statement Date on the Selected Accountholder’s Personal Credit Line Account, and finance charges will apply if payment is not received by the due date.

17. The minimum funds transfer amount is S$1,000, and the maximum is 95% of the Selected Accountholder’s total available credit limit of the Standard Chartered Personal Credit Line Account at the time of processing the Application.

18. The Bank reserve the right to decline the Application or approve the Application with a lower funds transfer amount than the amount applied for without any reason whatsoever.

19. Personal Credit Funds Transfer will not be eligible for any Rewards Points and cashback.

20. By participating in the Promotion, the Selected Accountholder consents to the use of his/her personal data for marketing purposes, including but not limited to the use of his/her telephone number to contact him/her about products and promotions offered by the Bank from time to time via telephone, SMS or multimedia messaging. Such consent will supersede any prior choices made by the Selected Accountholder. Such consent will also prevail even if the Selected Accountholder is registered or subsequently registers his/her contact information with the national Do Not Call Registry.

General

21. Unless otherwise stated, this Promotion is not valid with other offers, discounts, rebates, privileges or promotions.

22. The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the Promotion or to terminate, withdraw, extend or shorten the Promotion at any time at the Bank’s sole discretion, with or without prior notice or reason.

23. The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with the Promotion, including the Selected Accountholder’s eligibility for the Cashback and/or the Promotion. The Bank’s determination of all matters relating to this Promotion shall be final and binding and no correspondence will be entertained.

24. These Personal Credit Funds Transfer (6-month tenure) Processing Fee Cashback Promotion Terms and Conditions are to be read in conjunction with the Bank’s Customer Terms, the Current / Cheque / Savings Account and Time Deposit Terms, the Personal Loan / Personal Line of Credit / Overdraft Terms (as the case may be) and any other relevant Product Terms (the “Other Terms”).

25. In the event of any inconsistency between these terms and conditions and any brochures, marketing or promotional materials relating to the Promotion, these terms and conditions shall, to the extent of such inconsistency, prevail.

26. A person who is not a party to these terms and conditions has no rights under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these terms and conditions.

27. These terms and conditions are governed and construed in accordance with the laws of Singapore. Any dispute arising out of these terms and conditions shall be referred to the exclusive jurisdiction of the Courts of Singapore.

28. All information is correct at the time of publication.