Please be informed that effective 15 November 2019 (inclusive), the following clauses in the Personal Loan/Personal Line of Credit/Overdraft Terms and Credit Card Terms will be amended to provide more clarity on the Interest for the first instalment amount for your CashOne / ezyCash / Dash Advance Personal Loan / Debt Consolidation Loan / Credit Card Instalment Loan:

 Summary of update to CashOne / ezyCash / Dash Advance / Debt Consolidation Facility Terms and Conditions:

 Part C1 – CashOne Product Terms

 14.1 Interest for the approved CashOne instalment loan amount is calculated from the date of disbursement of the approved CashOne loan amount until the date of expiry of the instalment tenor. Interest for your first instalment amount will be the approved CashOne loan amount multiplied by the effective interest rate (EIR) divided by 12, notwithstanding that your first instalment amount due date would be between 22 to 49 days (both inclusive) from the date we approve your CashOne loan application, as the due date of your first instalment amount depends on the statement cycle of your CashOne loan. Subsequent instalment amounts will be billed according to the afore-mentioned statement cycle.

Part C2 – ezyCash Product Terms (discontinued)

29.1 Interest for the approved ezyCash loan amount is calculated from the date of disbursement of the approved ezyCash loan amount until the date of expiry of the instalment tenor. Interest for your first instalment amount will be the approved ezyCash loan amount multiplied by the effective interest rate (EIR) divided by 12, notwithstanding that your first instalment amount due date would be between 22 to 49 days (both inclusive) from the date we approve your ezyCash loan application, as the due date of your first instalment amount depends on the statement cycle of your ezyCash loan. Subsequent instalment amounts will be billed according to the afore-mentioned statement cycle.

Part C3 – Dash Advance Personal Loan Product Terms (discontinued)

45.1 Interest for the approved Dash Advance Personal Loan amount is calculated from the date of disbursement of the approved Dash Advance Personal Loan amount until the date of expiry of the instalment tenor. Interest for your first instalment amount will be the approved Dash Advance Personal Loan amount multiplied by the effective interest rate (EIR) divided by 12, notwithstanding that your first instalment amount due date would be between 22 to 49 days (both inclusive) from the date we approve your Dash Advance Personal Loan application, as the due date of your first instalment amount depends on the statement cycle of your Dash Advance Personal Loan. Subsequent instalment amounts will be billed according to the afore-mentioned statement cycle.

Part E2 – Part B of the Terms and Conditions Governing Debt Consolidation Facility

87.1 Interest for the approved Loan Amount is calculated from the date of disbursement of the approved Loan Amount until the date of expiry of the instalment tenure. Interest for your first instalment amount will be the approved Loan Amount multiplied by the effective interest rate (EIR) divided by 12, notwithstanding that your first instalment amount due date would be between 22 to 49 days (both inclusive) from the date we approve your Debt Consolidation Plan Application, as the due date of your first instalment amount depends on the statement cycle of your Debt Consolidation Loan Account. Subsequent instalment amounts will be billed according to the afore-mentioned statement cycle.

 The revised CashOne / ezyCash / Dash Advance / Debt Consolidation Facility Terms and Conditions is also available at https://av.sc.com/sg/content/docs/scb-tc-booklet.pdf

Summary of update to Credit Card Terms:

 Part F – Credit Card Instalment Loan

41.1 (a) For a drawdown of a Credit Card Instalment Loan, interest for the approved Credit Card Instalment Loan amount is calculated from the date of disbursement of the approved Credit Card Instalment Loan amount until the date of expiry of the instalment tenure. Interest for your first instalment amount will be the approved loan amount multiplied by the effective interest rate (EIR) divided by 12, notwithstanding that your first instalment amount due date would be between 22 to 49 days (both inclusive) from the date we approve your Credit Card Instalment Loan application, as the due date of your first instalment amount depends on the statement cycle of your Credit Card Instalment Loan. Subsequent instalment amounts will be billed according to the afore-mentioned statement cycle.

41.1 (b) For a top up loan on your existing Credit Card Instalment Loan account, interest for the combined balance is calculated from date of approval of the top up loan. Interest for your first instalment amount will be the approved loan amount multiplied by the effective interest rate (EIR) divided by 12, notwithstanding that your first instalment amount due date would be between 22 to 49 days (both inclusive) from the date we approve your application for a top up on your existing Credit Card Instalment Loan account, as the due date of your first instalment amount depends on the statement cycle of your Credit Card Instalment Loan. Subsequent instalment amounts will be billed according to the afore-mentioned statement cycle.

The revised Credit Card Terms is also available at https://av.sc.com/sg/content/docs/scb-cc-tc.pdf