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EasyPay on Retail Balances – Terms and Conditions

By participating in the EasyPay on Retail Balances Promotion (the “Promotion”), you agree to be bound by these terms and conditions.


  1. This Promotion is exclusive to a principal cardholder of credit card(s) issued by Standard Chartered Bank (Singapore) Limited (each such card to be referred to as a “Card”) who has received a Direct Mailer, Electronic Direct Mailer and/or SMS (each, a “Communication”) from Standard Chartered Bank (Singapore) Limited (the “Bank”) about this Promotion and which contains the URL to these terms and conditions (such cardholder to be referred to as a “Selected Cardholder”) or,
  2. The Selected Cardholder may also participate in the Promotion by applying online through the mobile app or online banking offered by the Bank.


  1. Applications to participate in the Promotion must be made within 14 calendar days from the date of the Communication or within such other time as the Bank may allow in its discretion.
  2. Selected Cardholders are required to complete the online application form and provide all the relevant information requested, before proceeding to accept the terms of the Promotion (such online application to be referred to as the “Online Submission”).
  3. The sum of all retail purchases from the Selected Cardholder’s latest credit card statement may include unbilled transactions after the latest credit card statement (but excluding (a) the Excluded Transactions as specified in Clause 13 below and (b) such other transactions as determined by the Bank from time to time) shall be referred to as the EasyPay Retail Balance amount (“EasyPay Retail Balance Amount”). The EasyPay Retail Balance Amount and the relevant interest (to be calculated in the manner described in these terms) will be converted into monthly instalments
  4. The EasyPay Retail Balance Amount will be credited to the Selected Cardholder’s credit card account on approval to adjust the outstanding statement balance. The related instalment amount (refer to Clauses 11 and 12 below) will subsequently be debited from the credit card account on the next statement date. The approval of the Selected Cardholder’s application is wholly subject to the Bank’s absolute discretion.
  5. Interest for the approved EasyPay Retail Balance Amount is calculated from the date the Selected Cardholder’s account is credited with the EasyPay Retail Balance Amount until the date of expiry of the Instalment Tenure (refer to Clause 10 below) as selected by the Selected Cardholder in the Online Submission.
  6. Interest is calculated on a front-end add-on method by multiplying the approved EasyPay Retail Balance Amount by the approved flat interest rate known as nominal interest rate for the full instalment tenor.
  7. The effective interest rate (“EIR”) indicated for the Selected Cardholder’s EasyPay Retail Balance Amount reflects the true cost of borrowing and takes into account the reducing balance method of interest calculation.
  8. Tenures available for repayment are 12, 18, 24, 36, 48 or 60 months (each, an “Instalment Tenure”).
  9. Each instalment amount is calculated based on the sum of
    1. he approved EasyPay Retail Balance Amount (“Principal Amount”); and
    2. the applicable interest over the instalment tenor (“Interest Amount”),

divided by the number of months of the Instalment Tenure.

  1. The Bank reserves the right to determine the proportion of the instalment amount for the repayment of the principal amount and the interest for each instalment amount. The Bank may apportion interest as follows:
    1. by applying the reducing balance method to determine the amount of interest attributed to each instalment; or
    2. by such other means and manner as the Bank may deem appropriate.
  1. Excluded Transactions” shall include:
    1. balance transfers (or funds transfers), instalment loans and cash advances on any of the Cards of the Selected Cardholder, purchases via NETS and ongoing instalment payments;
    2. any fees and charges (including annual fees, interest charges, cheque processing fees, administrative fees, cash advance fees, finance charges and/or late payment charges and other miscellaneous fees and charges) charged to any of the Cards of the Selected Cardholder;
    3. any amount charged to the any of the Cards of the Selected Cardholder during the Promotion Period that is subsequently cancelled, voided or reversed; and
    4. balances owing on the credit cards of the Selected Cardholder account from other months.

Fees & Interest Charges

  1. The Bank reserves the right to vary, without reason, the interest rate (whether nominal, flat or effective or otherwise) and the basis of calculation of interest at any time during the instalment tenure. This interest rate is only applicable for the EasyPay Retail Balance Amount.
  2. The EasyPay on Retail Balances application is subject to a zero or a nominal processing fee. The EasyPay Retail Balance Amount is subject to a EIR, which will be indicated on the Selected Cardholder’s Promotion approval letter. This letter indicating the instalment amount and EIR will be sent to the Selected Cardholder by mail or such other method as deemed fit by the Bank.
  3. The Bank will bill the credit card account for the instalments, which include the Principal Amount and Interest Amount (as defined in Clause 11 above) for the selected Instalment Tenure.
  4. The available credit limit of the Selected Cardholder’s credit card will be reduced by the full approved Principal Amount once the Selected Cardholder’s application is approved.
  5. As and when the Selected Cardholder repays his/her monthly billed instalments, the available credit card limit will be adjusted subsequently by the payment amount towards the principal component of the instalment.
  6. Instalment for the EasyPay Retail Balance Amount will be included in your minimum amount due on every credit card statement till the end of the Instalment Tenure.
  7. Unless otherwise stated, this EasyPay Promotion is not applicable for any cash advance, quasi cash, Credit Card Funds Transfer and 0% instalment plan transactions, and such other promotions and transactions as the Bank may determine from time to time.


  1. The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the Promotion or to terminate, withdraw, extend, suspend, or shorten the Promotion at any time in the Bank’s sole discretion, with or without prior notice or reason.
  2. By participating in the Promotion, you consent to the use of your personal data for marketing purposes, including but not limited to the use of your telephone number to contact you 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 you. Such consent will also prevail even if you are Selected or subsequently register your contact information with the national Do Not Call Registry.
  3. The Bank is not responsible for any failure or delay in the transmission of the transactions by any party including but not limited to Mastercard/Visa acquiring merchants, merchant establishments, any telecommunication provider, any internet service provider or website.
  4. The Bank reserves the right to determine in its sole and absolute discretion all matters arising out of or in connection with the Promotion, including your eligibility for the Promotion. Unless otherwise stated, this Promotion is not valid with other offers, discounts, rebates, privileges or promotions.
  5. The Bank’s determination of all matters relating to this Promotion shall be final and binding and no correspondence will be entertained.
  6. 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.
  7. The Promotion Terms and Conditions are to be read in conjunction with the Bank’s Customer Terms, the Credit Card Terms and any other product terms that may be applicable in conjunction with the Promotion (collectively, the “Other Terms”).
  8. In the event of any inconsistency between these terms and the Other Terms, these terms prevail only to the extent of such inconsistency.
  9. These terms and conditions are governed by and shall be construed in accordance with the laws of the Republic of Singapore and you agree to submit to the exclusive jurisdiction of the courts of the Republic of Singapore.
  10. All information is correct as at the time of publication.