Special measures due to the Coronavirus

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Relief measures offered by Standard Chartered Bank

We have launched a series of measures to help ease the financial burden on our clients. If you are financially impacted, you can avail the measures by sending an email to covid.19relief@sc.com with your details.

Client Circumstances		Months of Relief Already Taken
Client Circumstances	Loan Status	<= 6	> 6 and <= 9	> 9
Temporary Financial Stress a. Temporary Income Reduction b. Unpaid Leave c. Permanent Income Reduction < 50%	No Overdue Payments	Eligible	Eligible	Not Eligible
	No Overdue Payments for more than 89 days	Eligible	Not Eligible

Note: Accounts with overdue payments of more than 89 days are not eligible for the Payment Holiday.

3 Months Repayment Holiday

Clients impacted by COVID-19 can apply for a 3 months repayment holiday with 0 fees. Offer applies to Mortgage, Auto and Personal Loans. Interest will continue to accrue on your loan account during the holiday period & will be recovered at the end of the tenure of your loan.

Additional Info

Please stay alert

In the current situation there may be increased activity from scammers. Please stay alert for anything suspicious about COVID-19 claiming to be from Standard Chartered.

To support our credit card customers, we have introduced a series of measures to help ease the financial burden on our clients during these difficult times:

Payment Holiday Service

To find out if you are eligible and to apply for the Payment Holiday, please click here


1	How does the Payment Holiday work?You will not be required to pay for any outstanding or any new purchases for the next 3/6 months. The Minimum Amount Due (“MAD”) will be zero for the duration of the relief period and you will not be liable to pay anything for that period. Monthly statements will continue to be generated, you will note that the MAD is recorded as zero (0) in these statements. Example: Your statement billing cycle is the 2^nd of May 2020. You request for a 3-month Payment Holiday on the 10^th of May 2020 and the payment due date is the 22^nd of May 2020. Your June and July 2020 statement will record the MAD as zero. In respect of the current month’s statement (May 2020) which has already been generated, the MAD will be manually amended to zero in the system after the statement date. Please note that if you have a Standing Instruction/Direct Debit Authority set up, please cancel the same to avail the benefit of the Payment Holiday during the deferral period.
2	What happens to my existing Installment Based Plans running on the credit for which I pay EMI?All your existing instalment facility(ies) will be pre-closed with no pre-closure charges. This will become part of the overall outstanding balance on the card.
3	Will there be any interest charges during the Payment Holiday?Yes, interest charges will be applicable basis the below scenarios If you have been making full payments up to the point of time availing the Payment Holiday: · You will continue to see an interest charge being billed on your monthly statements, however that will be reversed at the end of the Payment Holiday period. This will be done automatically by the Bank. If you have not been making full payments up to the point of time availing the Payment Holiday: · Yes, interest charges will be charged on your total outstanding balances and retail purchases for the duration of the Payment Holiday at the applicable interest rates. · You will see the interest charge being billed on your monthly statements. All the interest charges billed during the relief period will be converted into a 6-month instalment plan with zero charges and zero interest fee to ensure there is no immediate burden to pay the interest charges.
4	Am I eligible if I am not a UAE Resident?The Payment Holiday is only available for UAE Residents.
5	Is there any restriction on the loan/finance amount?There is no restriction on the loan/finance amount.
6	What if I have a Saadiq Murabaha card?The Payment Holiday plan will apply in the same way as it does for conventional cards.
7	How much do I have to pay each month?No Payment needs to be made during the duration of the relief period
8	Will the Payment Holiday impact my Credit Bureau Record?The Payment Holiday will not impact your Al Etihad Credit Bureau Record.
9	What happens at the end of the relief period?At the end of the relief period, the total outstanding will be posted on the statement. In case you are not able to pay the total outstanding, you can continue to pay MAD or call the call centre to convert the outstanding into a payment plan at the applicable interest rates. Please note you may re-convert the outstanding balance into instalment plan at the applicable interest rate at the end of the relief period which may vary from the previous rate at which the instalment plan was set up prior to the relief plan
10	What happens if have taken a Balance Transfer or Smart Payment Plan Facility on my credit card?Existing Balance Transfer or Smart Payment Plan facilities availed on the card will continue without any changes. If the promo interest period for Balance Transfer or Smart Payment Plan plans expires during the duration of the Payment Holiday, interest will be accrued and charged as per facility availed. There will be no relief in respect of the interest charged for availing these facilities for all the clients.

Clients impacted by COVID-19

Can apply for a 3 months payment relief on the credit cards. Please contact us @ Covid.19relief@sc.com for more information.

Additional Information

Relief Measures for Islamic banking products

Clients impacted by COVID-19, with a Personal, Auto or Home Finance can apply for a 3-month repayment holiday at zero fees. The principal & profit will be deferred for up to 3 months. Please note that the profit rate (for Home Finance) will continue to apply during the holiday period and will be charged to your account at the end of the tenure of the finance account.

Eligibility criteria (UAE Residents Only):

Client Circumstances	Loan/Finance Status
Temporary Financial Stress a. Temporary Income Reduction b. Unpaid Leave c. Permanent Income Reduction < 50%	No Overdue Payments	Eligible
	With Overdue Payments	Not Eligible

Interest-/Profit-Only Payments

Clients can apply for 3-month Interest/Profit Only Payment. Offer applies to Mortgage, Saadiq Home Finance, Auto Loans and Personal Loans. 3-month Interest/Profit Only Payment is not applicable to Saadiq Auto Finance or Saadiq Personal Finance.

Additional Info

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How can I apply for temporary relief? How can I apply for temporary relief?
If you are impacted by COVID-19, you can send an email to covid.19relief@sc.com with your details and supporting documents, and we will review your request.

What documents do I need to provide to apply for temporary relief from payments (Interest-only or Payment Holiday)? What documents do I need to provide to apply for temporary relief from payments (Interest-only or Payment Holiday)?


Salaried	Bank Statement to validate income reduction (minimum 6-month statements)
	Letter from the employer clearly stating the impact of COVID-19 as the reason of unpaid leave
	Bureau Consent Form
	Proof of valid UAE Residency: copy of valid Emirates ID
Self Employed	Trade License
	Bank Statement (minimum 6-month statements) or Financial Statements to validate income reduction
	Bureau Consent Form
	Proof of valid UAE Residency: copy of valid Emirates ID

Which products are eligible for temporary relief? Which products are eligible for temporary relief?
Existing Mortgages, Personal Loans, Auto Loans and some concessions for Credit Card customers.
Who can I ask if I have more questions? Who can I ask if I have more questions?
You can write to us at covid.19relief@sc.com and we will be glad to help.

The Repayment Holiday and Interest/Profit-Only Payments are available to existing clients who are Residents of the UAE
The relief measures are limited to clients who are UAE Residents. Please refer to the eligibility criteria mentioned above.
Please note that the original outstanding loan amount will remain constant during the period of the scheme.
Any relief measure for Saadiq products and services will be managed in line with Shariah Law.
For the complete details and FAQs on the Mortgage Repayment Holiday, please click here

For the complete details and FAQs on the Saadiq Home Finance Repayment Holiday, please click here
For the complete details and FAQs on Home Finance Interest/Profit-Only Payments, please click here
For the complete details and FAQs on the Personal Finance Repayment Holiday, please click here
For the complete details and FAQs on Personal Loans Interest-Only Payments, please click here
For the complete details and FAQs on the Auto Loans Repayment holiday, please click here
For the complete details and FAQs on the Saadiq Auto Finance Repayment holiday, please click here
For the complete details and FAQs on Auto Loans Interest-Only Payments, please click here
Please note that the Bank reserves the right to review the relief measures as the environment continues to develop.

Disclaimer

Standing with our clients with supportive measures

Relief measures offered by Standard Chartered Bank

3 Months Repayment Holiday

Please stay alert

Clients impacted by COVID-19

Relief Measures for Islamic banking products

Interest-/Profit-Only Payments

FAQs

Terms and Conditions – Relief Measures offered by Standard Chartered Bank