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Credit Card Funds Transfer Programme Terms and Conditions

  1. The terms set out in Credit Card Funds Transfer Programme Terms and Conditions applies to both Credit Card Funds Transfer and Full Flex Loan offered by Standard Chartered Bank Singapore (collectively known as “Balance Transfer”).
  2. A Credit Card Funds Transfer or Full Flex Loan application may only be submitted by a Principal cardholder of an existing Standard Chartered Credit Card account (“Credit Card Account”)
  3. The minimum Approved Amount (defined in clause 4 below) for Balance Transfer is S$1,000, and the maximum is 95% of the total available credit limit of your Credit Card Account at the time of processing the application.
  4. The promotional interest rate (as indicated in the application form) is only applicable to the amount transferred pursuant to the application submitted in respect of this programme (“Approved Amount“) and is only valid for the period of time (as indicated in the application form) starting from the date the application is approval (“Tenure”). Any existing outstanding balances and/or amounts subsequently incurred on any Credit Card Account, including instalment payment transactions, will be subject to the prevailing interest rate chargeable for the Credit Card Account if these amounts are not paid in full.
  5. The promotional interest rate is valid for the Tenure from the date the application is approved and ends on the statement date of the final month of the Tenure. Thereafter, the prevailing interest rate of 26.90% p.a. will apply. Please note that Effective Interest Rate (EIR) is calculated by taking into consideration the processing fee and based on the assumption that full repayment is made within the Tenure with minimum monthly payments of 1% of principal plus interest, fees, charges and full payment in the final month of the Tenure.
  6. Following the approval of the application, a Balance Transfer account will be set up in the name of the principal cardholder. The one-time non-refundable processing fee on the Approved Amount (as indicated in the application form) will be charged to the Balance Transfer account upon the approval of the application.
  7. If the principal cardholder defaults on any payment in respect of their Credit Card Accounts or any other credit facilities with us during the Tenure or for other reason which we deem appropriate at its reasonable discretion, a late payment interest of 28% p.a. will be charged to all Balance Transfer We shall also be entitled to withdraw the Promotional Interest Rate if payment has been twice or more past due and charge applicable finance charges, and/or late payment interest at such rate as we may determine.
  8. Transfer of Approved Amount to any Standard Chartered Credit Card, Personal Credit, Home Renovation Loan, Personal Loan, Overdraft and Mortgage accounts is not permitted. Supplementary cardholders, and cardholders holding corporate cards or credit cards with $500 credit limit are not eligible to apply for funds transfer.
  9. Approved Amount of Balance Transfer will not be eligible for any Rewards Points and Cashback.
  10. We reserve the right to (a) decline the application or approve the application with a lower Approved Amount than the amount applied for without any reason whatsoever, and (b) withdraw, or vary the terms of, this programme at any time without prior notice.
  11. Our decision on all matters relating to this programme shall be final and binding. These terms apply in addition to our Customer Terms, Credit Card Terms and Pricing Guide (collectively, “Other Terms”). In the event of any inconsistency between the terms set out herein (“Terms”) and the Other Terms, these Terms shall prevail only to the extent of such inconsistency.