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

Eligibility

1. This Programme is exclusive to a principal cardholder of credit card(s) issued by Standard Chartered Bank (Singapore) Limited (the “Bank”) (each such card to be referred to as a “Card”) who has received (i) a Direct Mailer; (ii) an Electronic Direct Mailer; and/or (iii) an SMS (each a “Communication”) from the Bank about this Programme and which contains the URL to these terms and conditions and the link to the online application form for this Programme, or who is able to access the online application form for this Programme through a link that is found in the Bank’s mobile banking app (each such cardholder to be referred to as a “Selected Cardholder”).

Mechanics

2. To participate in this Programme, a Selected Cardholder must submit an application. To submit an application, the Selected Cardholder must complete the online application form for this Programme, which he/she may access either through the link that is found in the Communication or through the link that is found in the Bank’s mobile banking app, before proceeding to accept the terms and conditions of the Programme and to submit the online application form for this Programme through the Bank’s mobile app or online banking. If the Selected Cardholder submits the online application form for this Programme using the link that is found in a Communication, the online application form for this Programme must be submitted within 14 calendar days from the date of the Communication or within such other time as the Bank may allow in its sole and absolute discretion.
3. For the purposes of this Programme:
   1. an application fulfilling Clause 2 above shall be referred to as an “Online Submission”;
   2. The “EasyPay Retail Balance Amount” shall refer to:
      1. In the case of a Selected Cardholder’s first Online Submission, the sum total of all transactions which are stated on a Selected Cardholder’s latest credit card statement and which are charged to the Card with the card account number that is stated in this first Online Submission (“Online Submission Card”) and all transactions which are charged to the aforementioned Online Submission Card and posted to the account for the aforementioned Online Submission Card but are unbilled, all as of the date the Selected Cardholder submits an this first Online Submission, save for the Excluded Transactions that are specified at Clause 13 below.
      2. In the case the Online Submission is not a Selected Cardholder’s first Online Submission, the sum total of all transactions which are stated on a Selected Cardholder’s latest credit card statement and which are charged to the Card with the card account number that is stated in the aforementioned Online Submission (“Subsequent Online Submission Card”) and all transactions which are charged to the aforementioned Subsequent Online Submission Card and posted to the account for the aforementioned Subsequent Online Submission Card but are unbilled, all as of the date the Selected Cardholder submits the aforementioned Online Submission, save for the Excluded Transactions (defined at Clause 13 below) and Additional Excluded Transactions (defined at Clause 3(c) below).
   3. “Additional Excluded Transactions” are transactions which are charged by the Bank to a Selected Cardholder’s Card account because of a prior Online Submission which has been approved by the Bank as of the date a Selected Cardholder submits the subsequent Online Submission.

4. 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.
5. The EasyPay Retail Balance Amount will be credited to the Selected Cardholder’s credit card account on approval to adjust the outstanding current 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 and all Selected Cardholders acknowledge that the Bank may decline a Selected Cardholder’s Online Submission without giving the Selected Cardholder any reason for doing so.
6. For the avoidance of doubt, regardless of whether the Online Submission is approved or rejected, the Selected Cardholder is still required to make payment on the total outstanding balances and/or minimum payment due reflected on the Selected Cardholder’s credit card statement(s) by the payment due date, failing which interest and/or late payment and finance charges may apply.
7. 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. The interest payable on your first instalment amount will be pro-rated on a 365 days basis or 366 days basis in a leap year.
8. Interest is calculated on a front-end add-on method by multiplying the EasyPay Retail Balance Amount by the approved flat interest rate known as nominal interest rate for the full instalment tenor.
9. 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.
10. Tenures available for repayment are 12, 24, 36, 48 or 60 months (each, an “Instalment Tenure”).
11. Each instalment amount is calculated based on the sum of
    1. the 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.

12. 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.

13. For the purposes of the Programme, the following transactions are “Excluded Transactions”:
    1. any instalment amount (as defined in the Bank’s Credit Card Terms) for a Credit Card Instalment Loan;
    2. any cash advance as defined in the Bank’s Credit Card Terms) on Card of a Selected Cardholder;
    3. Purchases via NETS;
    4. annual fees, cheque processing fees, administrative fees, cash advance fees, late payment charges and other miscellaneous fees and charges which are charged by the Bank;
    5. any amount charged to any of the Cards of a Selected Cardholder during the Programme Period that is subsequently cancelled, voided or reversed; and
    6. any other transactions, charges, fees or payments that the Bank may determine from time to time.

Fees & Interest Charges

14. 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.
15. The EasyPay on Retail Balances application is subject to a zero or a nominal processing fee. The EasyPay Retail Balance Amount is subject to an EIR, which will be indicated on the Selected Cardholder’s Programme 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.
16. 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.
17. 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.
18. 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.
19. 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.
20. Unless otherwise stated, this EasyPay Programme is not applicable for any cash advance, quasi cash, Credit Card Funds Transfer and 0% instalment plan transactions, and such other Programmes and transactions as the Bank may determine from time to time.

Account closure & Early repayment

21. A Selected Cardholder must notify the Bank, by calling the Bank’s Client Contact Centre, if he/she wishes to fully repay any outstanding principal amount, prior to the expiry of the respective instalment tenures. For clarity, partial repayment of the EasyPay on Retail Balance Amount is not allowed.
22. The following terms and charges will apply if a Selected Cardholder fully repays his/her outstanding principal amount (“Unbilled Outstanding Balance”) prior to the expiry of the respective instalment tenures:
    1. the Bank will calculate and notify the Selected Cardholder of the Unbilled Outstanding balance and its payment due date; and
    2. the Selected Cardholder must pay the entire Unbilled Outstanding Balance together with an early redemption fee of 3% of the Unbilled Outstanding Balance. These will be charged to the Selected Cardholder’s Online Submission Card.

23. If a Selected Cardholder fails to pay the entire Unbilled Outstanding Balance on or before the due date stipulated by the Bank in full, finance charges at the prevailing interest rates will be charged from the due date until the date such sums due (including finance charges) are paid in full.

General

24. The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the Programme and/or terminate, withdraw, extend, suspend, or shorten the Programme at any time in the Bank’s sole discretion, with or without prior notice or reason.
25. By participating in the Programme, you consent to the use of your personal data for marketing purposes, including but not limited to the use of your telephone number and email address to contact you about products and Programmes offered by the Bank from time to time via telephone, SMS or electronic direct mail. 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.
26. 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.
27. The Bank reserves the right to determine in its sole and absolute discretion all matters arising out of or in connection with the Programme, including your eligibility for the Programme. Unless otherwise stated, this Programme is not valid with other offers, discounts, rebates, privileges or Programme.
28. The Bank’s determination of all matters relating to this Programme shall be final and binding and no correspondence will be entertained.
29. A person who is not a party to these EasyPay on Retail Balances Programme Terms and Conditions has no rights under the Contracts (Rights of Third Parties) Act (2001) to enforce any of these EasyPay on Retail Balances Programme Terms and Conditions.
30. The EasyPay on Retail Balances Programme 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 Programme (collectively, the “Other Terms”).
31. In the event of any inconsistency between these terms and the Other Terms, these EasyPay on Retail Balances Programme Terms and Conditions prevail only to the extent of such inconsistency.
32. These EasyPay on Retail Balances Programme Terms and Conditions and any dispute or claim arising out of or in connection with these EasyPay on Retail Balances Programme Terms and Conditions, shall be governed by and are to 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. All information is correct as at the time of publication.

If you are applying for EasyPay Credit Card Funds Transfer Programme, please review the EasyPay Credit Card Funds Transfer Programme Terms and Conditions below:

EasyPay Credit Card Funds Transfer (EasyPay CCFT) Programme Terms and Conditions

1. The terms set out in EasyPay CCFT Programme Terms and Conditions applies to both categories of EasyPay CCFT: non-instalment repayment EasyPay CCFT and instalment repayment EasyPay CCFT offered by Standard Chartered Bank Singapore (collectively known as “Balance Transfer”).
2. An EasyPay CCFT 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. Interest for the instalment is calculated on a front-end add-on method by multiplying the approved Credit Card Funds Transfer amount by the specified interest rate for the full instalment tenure.
7. The amount of each instalment will be calculated by taking the aggregate of the EasyPay CCFT amount; the applicable interest over the instalment tenure; and the applicable insurance fee as stated in the application form, then dividing the sum total by the number of months constituting the instalment tenure.
8. However, we reserve the discretion to determine and apportion, the amount comprised in an instalment which relates to the repayment of the EasyPay CCFT amount and the payment of interest.
9. We may apportion the interest as follows equally in each instalment throughout the instalment tenure; by applying rule of 78 method to determine the amount of interest which is attributed to each instalment; or any means we consider fit.
10. Following the approval of the application, an EasyPay CCFT 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 EasyPay CCFT account upon the approval of the application.
11. 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 EasyPay CCFT accounts. 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.
12. 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.
13. Approved Amount of EasyPay CCFT will not be eligible for any Rewards Points and Cashback.
14. 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.
15. 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.