By participating in the EasyPay on Transaction 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 a telemarketing call on their Bank Registered Mobile Number from an agent from the Bank’s Client Contact Centre (“Telesales Channel”), has been offered the Programme through the Telesales Channel, or received an online application form sent by the Bank through SMS, electronic direct mailers, direct mailers or Online Banking and/or SC Mobile application (referred as “Communication”) about this Programme (each such cardholder to be referred to as a “Selected Cardholder”). “Bank Registered Mobile Number” refers to the telephone number or mobile phone number which the Bank has on file for the relevant Selected Cardholder.

Mechanics

2. To participate in this Programme, a Selected Cardholder must submit an application for the Programme to the Bank via the Communication received and provide all information and confirmation as may be requested by the Bank (“EasyPay Submission”), including but not limited to:
   1. the Selected Cardholder’s acceptance of the relevant details/features pertaining to the EasyPay Submission, including but not limited to the Eligible Amount (as defined in Clause 3 below), the Instalment Tenure (as defined in Clause 8 below), the processing fee and/or nominal interest rate (as referred to in Clause 13 below), and the Effective Interest Rate (“EIR”);
   2. the Selected Cardholder’s confirmation that he/she has accepted and agreed to the relevant terms and conditions, including this Programme Terms and Conditions; and
   3. for EasyPay Submission on Eligible Amount referred to in Clause 3(a)(ii), the Selected Cardholder’s selection of a Card account for the instalment setup (to be referred to as the “EasyPay Instalment Card Account”).
3. For the purposes of this Programme:
   1. the “Eligible Amount” for instalment conversion shall refer to:
      1. the amount of the transaction that has been charged to the Selected Cardholder’s Card account (to be referred to as the “EasyPay Submission Card Account”; or
      2. the amount of the transaction that has been charged to the Selected Cardholder’s deposit account (“EasyPay Submission Deposit Account”);
   2. for the avoidance of doubt, the Excluded Transactions (as defined in Clause 9 below) shall not be eligible for this Programme; and
   3. the applicable processing fee and/or interest relevant to the Programme will be displayed through the Communication.
4. The Eligible Amount and the relevant interest on the Eligible Amount (if any, to be calculated in the manner described in these terms) will be converted into monthly instalments.
5. The Eligible Amount will be credited to the Selected Cardholder’s EasyPay Submission Card Account or EasyPay Submission Deposit Account upon the Bank’s approval of the Selected Cardholder’s EasyPay Submission to adjust the current balance. The instalment amount (refer to Clauses 15 and 16 below) will subsequently be debited from the EasyPay Submission Card Account or the EasyPay Instalment Card Account on the next statement date.
6. The approval of the Selected Cardholder’s EasyPay Submission is wholly subject to the Bank’s absolute discretion and all Selected Cardholders acknowledge that the Bank may decline a Selected Cardholder’s EasyPay Submission without giving the Selected Cardholder any reason for doing so.
7. For the avoidance of doubt, regardless of whether the EasyPay 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 or loan statement(s) by the payment due date, failing which interest and/or late payment and finance charges may apply.
8. Tenures available for instalment repayment via the Programme are between 3 and 60 months (each, an “Instalment Tenure”).
9. For the purposes of the Programme, the following transactions are “Excluded Transactions”:
   1. any instalment amount of a prior EasyPay instalment setup or 0% Interest Instalment Plan;
   2. any cash advance as defined in the Bank’s Credit Card Terms) of a Selected Cardholder;
   3. 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;
   4. any amount charged to any of the Cards of a Selected Cardholder that is subsequently cancelled, voided or reversed; and
   5. any other transactions, charges, fees or payments that the Bank may determine from time to time.
10. You must only submit one EasyPay Submission (or other application to convert a transaction into instalments through other programmes) for each Eligible Amount. In the event that more than one application for the conversion of a transaction into instalments including but not limited to duplicate EasyPay Submissions are approved, Clause 24 will apply.

EasyPay Submission with One-Time Processing Fee

11. Each such EasyPay Submission may be subjected to a non-refundable processing fee amounting to a certain percentage of the Eligible Amount. Unless we agree otherwise, the processing fee is payable in full together with the first approved instalment and will be debited from the EasyPay Submission Card Account or the EasyPay Instalment Card Account.

EasyPay Submission with Interest

12. Interest, if any, for the approved Eligible Amount is calculated from the date the Selected Cardholder’s EasyPay Submission Card or Deposit Account is credited with the Eligible Amount until the date of expiry of the Instalment Tenure as selected by the Selected Cardholder in the EasyPay Submission. The interest payable on the first instalment amount will be pro-rated on a 365 days basis or 366 days basis in a leap year.
13. Interest is calculated on a front-end add-on method by multiplying the Eligible Amount by the approved flat interest rate known as nominal interest rate for the full Instalment Tenure.
14. The EIR indicated for the Selected Cardholder’s Eligible Amount reflects the true cost of borrowing and takes into account the reducing balance method of interest calculation.
15. Each instalment amount is calculated based on the sum of
    1. the approved Eligible Amount (“Principal Amount”); and
    2. the applicable interest over the Instalment Tenure (“Interest Amount”),

divided by the number of months of the selected Instalment Tenure.

16. The Bank reserves the right to 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.

Fees & Interest Charges

17. 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 Eligible Amount.
18. The EasyPay Submission is subject to a zero or a nominal processing fee. The Eligible 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 electronic direct mailer or such other method as deemed fit by the Bank.
19. The Bank will bill the EasyPay Submission Card Account or EasyPay Instalment Card Account for the instalments, which include the Principal Amount and Interest Amount (if any) (each as defined in Clause 15 above) for the selected Instalment Tenure.
20. The available credit limit of the Selected Cardholder’s credit card will be reduced by the Principal Amount once the Selected Cardholder’s EasyPay Submission is approved. 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.
21. Instalment for the Eligible Amount will be included in the Selected Cardholder’s outstanding balance for the calculation of minimum amount due on every credit card statement till the end of the Instalment Tenure.

Account Closure & Early Repayment

22. A Selected Cardholder must notify the Bank, by calling the Bank’s Client Contact Centre or through the Bank’s Client Servicing Journey via Online Banking or SC Mobile application, if he/she wishes to fully repay any outstanding portion of the Principal Amount, prior to the expiry of the respective Instalment Tenure. For clarity, partial repayment of the Principal Amount is not allowed.
23. 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 selected Instalment Tenure:
    1. the Bank will calculate and notify the Selected Cardholder of the Unbilled Outstanding balance and its payment due date; and
    2. for EasyPay Submission with interest, 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 EasyPay Submission Card Account or EasyPay Instalment Card Account.
24. In the event that:
    1. More than one EasyPay Submissions have been submitted and approved; or
    2. An EasyPay Submission is approved for a transaction that has already been converted into instalments through other programmes (e.g. the bank’s 0% Interest Instalment Plan), (each, a “Duplicate Conversion”)

    the bank reserves the right to determine in its sole and absolute discretion to close each Duplicate Conversion and charge the applicable Unbilled Outstanding Balance (as defined in Clause 23) to the Selected Cardholder’s EasyPay Submission Card Account or EasyPay Instalment Card Account. The Bank may do so before or without notifying you. For the avoidance of doubt, Clause 25 will apply to all Unbilled Outstanding Balances that are charged.

25. 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

26. 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.
27. 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 registered or subsequently register your contact information with the national Do Not Call Registry.
28. 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.
29. 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.
30. The Bank’s determination of all matters relating to this Programme shall be final and binding and no correspondence will be entertained.
31. A person who is not a party to these Programme Terms and Conditions has no rights under the Contracts (Rights of Third Parties) Act 2001 to enforce any of these Programme Terms and Conditions.
32. Except for death or personal injury caused by the negligence of the Bank, to the fullest extent permitted by law, the Bank and members of the Bank’s group shall have no liability in respect of, and will be indemnified from and against, any liability, loss, claim, damage or costs of any kind (including legal costs) to any person or entity, in whole or in part, directly or indirectly, by reason of a Selected Cardholder’s participation in the Programme.
33. These 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”).
34. In the event of any inconsistency between these terms, Other Terms, and/or any brochures, marketing or promotional materials relating to the Programme, these Programme Terms and Conditions prevail only to the extent of such inconsistency.
35. These Programme Terms and Conditions and any dispute or claim arising out of or in connection with these Programme Terms and Conditions, shall be governed by and are to be construed in accordance with, the laws of the Republic of Singapore and Selected Cardholders agree to submit to the exclusive jurisdiction of the courts of the Republic of Singapore.
36. All information is correct as at the time of publication.