Standard Chartered Bank (Hong Kong) Limited


	中文

Terms and Conditions:

General Terms and Conditions for Tax Season’s Standard Chartered Personal Instalment Loan

The promotion period is from 7 November 2011 to 31 January 2012, both dates inclusive (“Promotion Period”).

Customers who successfully apply and drawdown the Tax Season’s Standard Chartered Personal Instalment Loan (“Loan”) during the Promotion Period will be eligible for the following promotional offers in accordance with the terms and conditions set out below:

0% Handling Fee Offer

Interest Rebate Offer

Standard Chartered Bank (Hong Kong) Limited (“the Bank”) reserves the right to determine the loan amount, monthly repayment amount, interest rate or any other offer in respect of the loan applied, or to decline customer’s application in its entirety without giving any reason for doing so. If customer’s application is declined, no contractual relationship arises between the Bank and customer in respect of any product or service requested in the application.

In case if customer’s application is approved, the pricing (such as interest rate and handling fee) will be offered to customer based on the credit record customer submits to us upon the application. The Bank reserves the right to modify such pricing offered to customer by giving 30 days’ advance notice based on the Bank’s credit assessment from time to time including, but not only limited to, customer’s repayment record, credit bureau grading and the Bank’s prevailing credit policy.

The Bank reserves the right to amend all the terms and conditions of the Tax Season’s Standard Chartered Personal Instalment Loan at any time. In case of disputes, the Bank’s decision shall be final.

In case of discrepancy between the English and Chinese versions of the terms and conditions set out herein and below, the English version shall prevail.

Terms and Conditions for 0% Handling Fee Offer

To be eligible for 0% Handling Fee Offer, customers are required to successfully apply and drawdown the Loan during the Promotion Period (“Eligible Customers for 0% Handling Fee Offer”).

The Bank will upfront deduct a handling fee of 0.1% per annum of the drawdown amount before fund disbursement. The 0% Handling Fee Offer will be fulfilled subsequently by way of cash rebate to the customer’s designated repayment account of the relevant Eligible Customers for 0% Handling Fee Offer on or before 31 May 2012.

Monthly Repayment Table

Loan Amount (HK$)	Handling Fee (per annum)	Interest Rate (Monthly Flat Rate)	Monthly Repayment Amount (per HK$1,000) (Annualized Percentage Rate) ^Δ	Interest Rebate
			Loan Tenor
			12 months
Exclusive for Current and New Priority Banking / Mortgage / Bonus Payroll Accounts Customers^
$5,000 - $99,999	0% Handling Fee Offer	0.20%	$85.34 (4.49%)	-
$100,000 - $199,999		0.19%	$85.24 (3.90%)	1 month
$200,000 or above		0.17%	$85.04 (3.16%)	2 month or HK$4,000 (whichever is lower)
Exclusive for General Customers^
$5,000 - $99,999	0% Handling Fee Offer	0.21%	$85.44 (4.72%)	-
$100,000 - $199,999		0.20%	$85.34 (4.10%)	1 month
$200,000 or above		0.19%	$85.24 (3.53%)	2 month or HK$4,000 (whichever is lower)

The above table is for illustrative purposes only

^Δ

The Annualized Percentage Rates (”APR”) in parentheses above are calculated based on the Net Present Value Method in accordance with the Code of Banking Practice. Interest in this illustration is calculated on the basis of a 365-day year or 366-day year (if applicable). Calculation of the APR has taken into account the 0% Handling Fee Offer and the Interest Rebate Offer (if applicable). APR is calculated based on 12-month repayment periods and middle value loan amounts of HK$52,500, HK$150,000 and HK$700,000.

The applicable interest rate and acceptance of a loan application is entirely at the discretion of the Bank and is to be considered on a case-by-case basis in accordance with the customer’s credit record and all other relevant factors.

Terms and Conditions for Interest Rebate Offer

The Interest Rebate Offer is applicable to customers who have successfully applied and drawn down the Loan of HK$100,000 or above during the Promotion Period (“Eligible Customers for Interest Rebate”).

The number of months eligible for Interest Rebate Offer shall depend on the Loan amount of the respective Eligible Customers for Interest Rebate, as set out in the table below:

Loan Amount (HK$)	Number of months eligible for Interest Rebate Offer
$100,000 - $199,999	1 month
$200,000 or above	2 months

Rebate amount of Interest Rebate Offer entitled by each Eligible Customer for Interest Rebate will be calculated with reference to the interest rate pertaining to the Loan as follows, where maximum rebate amount is HK$4,000:
Loan amount x Interest Rate (Monthly Flat Rate) x Number of months eligible for Interest Rebate Offer

The Interest Rebate Offer will be fulfilled by way of cash rebate to be credited to the repayment accounts of the Eligible Customers for Interest Rebate on or before 31 May 2012.

During the Promotion Period and until the cash rebate is to be credited to the designated repayment accounts, the Loan accounts must be existing and valid with no overdue record or unsatisfactory credit history as determined by the Bank in order to enjoy the cash rebate.

If the Eligible Customers for Interest Rebate have early redeemed the Loan after the interest rebates have been credited to the customers, the Bank reserves the right to debit an amount equivalent to such interest rebates together with any cost incurred by the Bank as a result of such early redemption without any prior notice to the relevant customers.

Terms and Conditions for Interest Rate Offer Exclusive for Current and New Priority Banking / Mortgage / Bonus Payroll Account Customers (“Eligible Customers for Preferential Interest Rate”)

For Eligible Customers for Preferential Interest Rate whose applications are approved, without prejudice to the Bank’s general right to modify the pricing of the Loan, the Bank shall have the right at its absolute discretion to revise the applicable interest rate of the Loan, including but not limited to the following situations:

For new Priority Banking customers, if the Total Relationship Requirements have not been continuously fulfilled during the first 3 months after sign-up;

For new Bonus Payroll Account customers, if auto-payroll services for the Bonus Payroll Account has not been continuously used during the first 2 months after account opening date;

If the Priority Banking or Mortgage or Bonus Payroll Account status has not been continuously active for 12 months after the Loan being drawdown.

Terms and Conditions for the Online Exclusive Offer:

Online Exclusive Offer is HK$200 supermarket cash coupon. To be eligible for the HK$200 supermarket cash coupon, customer must successfully apply for Loan online and drawdown the loan amount of HK$50,000 or above on or before 31 January 2012 (“Prize”).

To be eligible for the Prize, customer's Loan account must still be valid and with no past due record/unsatisfactory credit history within the Promotion Period and at the time of redeeming the Prize (“Eligible Customer”).

The Bank will send out the HK$200 supermarket cash coupon redemption letter to Eligible Customer on or before 31 May 2012.

Customer understands and agrees that the Prize is not offered by the Bank. Therefore, the Bank shall not be responsible for any legal matters or disputes in relation to the product or service (includes but not only limited to the quality and the quantity of supply).

Standard Chartered Personal Instalment Loan

Terms and Conditions for Standard Chartered Personal Instalment Loan:

You need to read this document

It sets out specific terms and conditions on which we agree to provide you with the products and services you applied here. You must read it in conjunction with our Customer Terms, and the applicable documents referred to in Part A of Customer Terms (including the Personal Loans/Personal Line of Credit/Overdraft Terms and the product brochure, Important Notes and promotional terms (if applicable)) and any other documents forming our banking agreement. The banking agreement is available to you at any of our branches or our website at http://www.standardchartered.com.hk. If there is any inconsistency between the approval and any other part of our banking agreement, then the terms in the approval prevails. These terms do not apply to any existing product(s) or service(s) you have with us to the extent that they are subject to separate terms and conditions.

Meaning of words

Other than the defined terms here or under the product brochure or promotional terms (if applicable), you also need to refer to the other documents that form our banking agreement which define key words used below. For instance, please note:-

you means the person named as the “applicant” in the application.

we (without limiting the meaning defined in Customer Terms) or Bank means Standard Chartered Bank (Hong Kong) Limited for this application.

Important Notes

To be eligible for this personal instalment loan, your annual income has to be HK$60,000 or above.

We reserve the right to determine the loan amount, limit, monthly repayment amount, interest rate or any other offer in respect of the loan applied, or to decline your application in its entirety without giving you any reason for doing so. If your application is declined, no contractual relationship arises between us and you in respect of any product or service requested in your application.

In case if your application is approved, the pricing (such as interest rate and handling fee) will be offered to you based on the credit record you submit to us upon your application. We reserve the right to modify such pricing offered to you by giving you 30 days advance notice based on our credit assessment from time to time including, but not only limited to, your repayment record, credit bureau grading and our prevailing credit policy.

We may have obtained a credit report on the customer and any of its sureties from a credit reference agency in considering any application for credit. In the event the customer or any of its sureties wishes to access the credit report, we will advise the contact details of the relevant credit reference agency.

We may set off any amount we owe you against any amount you owe us (whether or not the obligation is matured or contingent).

Without limiting the above, our “Notice to Customers and Other Individuals relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data” (“Notice”, which is available to you at any of our branches and/or on our website at http://www.standardchartered.com.hk) also forms part of the banking agreement. We will be using the information you provide to us and for such purposes as set out in the Notice.

We reserve the right to amend the contents and all the important notes or terms and conditions here at any time. In case of disputes, our decision shall be final.

If there is any inconstancy of conflict between the English and the Chinese versions, the English version shall prevail.

Extract of Personal Loan / Personal Line of Credit/Overdraft Terms

Part A – Personal Instalment Loans

Choosing the account that is right for you

We can structure your personal instalment loan to suit your personal banking needs. If you need us to explain any of the features of, or the terms applying to, any personal instalment loan products, please contact us.

The instalment loan

We must provide the loan

2.1

If we issue an approval, we agree to provide an instalment loan up to the limit. The limit may be different to the limit you applied for.

Purpose

2.2

You must use the instalment loan only for the purpose set out in the application or as otherwise approved by us.

Top up loan

2.3

If you ask, we may agree to provide a top up loan on terms we notify.

2.4

You may only make one request for a top up loan on any one business day.

How we provide the instalment loan

2.5

Usually we provide the instalment loan by depositing it into the repayment account.
If we provide the instalment loan by cheque, the cheque is only valid for the period we specify and instalments are payable even if the cheque is not cashed.

2.6

Fees and charges that are applicable on the instalment loan may be deducted from the instalment loan before depositing it into the repayment account. Please contact us for details of any applicable fees.

Interest, fees and charges

Interest

3.1

You must pay interest on the instalment loan monthly in arrears at the rate set out in the approval or otherwise in our banking agreement or any other rate we determine from time to time.

3.2

Interest is payable on the dates set out in the approval, statements or elsewhere in our banking agreement.

3.3

Interest is calculated on a monthly basis.

Fees and charges

3.4

The fees and charges for the instalment loan are set out in the tariff sheet or elsewhere in our banking agreement. Please contact us for further details.

3.5

We may charge a late payment fee for any overdue payment as set out in the tariff sheet or elsewhere in our banking agreement. Please contact us for further details.

Repayment

Repayment by instalments

4.1

You must repay the instalment loan in instalments. We notify you the amount of the instalment and each instalment payment date.

4.2

Any balance owing for the account for the instalment loan (after payment of all instalments) must be repaid on the final payment date we notify you.

4.3

The instalments are payable even if you do not withdraw any of the instalment loan funds we deposit in the repayment account.

4.4

If the amount is due on a day which is not a business day, you must pay it on or before the next business day.

4.5

If we vary the interest rate on the instalment loan, we may vary the instalment amount and the number of instalments.

Methods of repayment

4.6

We advise you of the manner in which you must repay the instalments. For example, we may ask you to designate an account for repayment by direct debit and give us documents to facilitate direct debit from that account.

4.7

You must comply with our usual requirements for the relevant payment method, including any set out in this clause.

4.8

We start deducting instalments from your repayment account one month after drawdown of the instalment loan.

4.9

You must ensure that any payment instrument or payment instruction is honoured. For example, you must:

ensure that you have sufficient funds in the account to be debited (including the repayment account);

not stop cheques;

not cancel or vary any payment arrangement (unless we ask you to do so to reflect a change in the instalments) or close or change the account on which cheques are drawn.

Automatic payment from repayment account with another institution

4.10

If we require you to repay by automatic payment and the repayment account is with another financial institution you must:

organise a payment arrangement with the other financial institution under which an amount equal to each instalment amount is debited from the repayment account and paid to us on each instalment payment date and give us satisfactory evidence that this is in place; or

provide us with any authority we require to enable us to debit the instalment amount, from the repayment account.

Payment in full if we ask

4.11

Despite any other term of our banking agreement, at any time we may demand immediate payment of the instalment loan in full, together with all accrued but unpaid interest, fees and charges in connection with the instalment loan.

What happens if you do not pay

4.12

If you do not make an instalment on or before the relevant due date:

the instalment loan plus all accrued but unpaid interest plus any other sum due to us is immediately due and payable; and

we will charge you a late payment fee as set out in the tariff sheet or elsewhere in our banking agreement.

How we apply payments

4.13

We may use amounts we receive from any of your instalments to pay interest rather than to reduce the principal amount you owe us or to pay amounts you owe us in any order we choose. For example, we may allocate a higher proportion of any one or more of your instalments to interest rather than to the principal amount you owe us.

Prepayment

You may prepay all (but not part) of the instalment loan if:

you give us reasonable notice in writing; and

when you prepay, you also pay all accrued but unpaid interest, fees and charges in connection with the instalment loan (including any early settlement fees as set out in the tariff sheet or elsewhere in our banking agreement). Details of these fees and charges are available by contacting us.

We may also require you to pay us an amount equal to one month’s interest on the instalment loan.

Cancellation

Our Customer Terms set out when you and we may end your use of any product and what you need to do if that happens. This includes immediate payment of the balance owing for the account for the instalment loan. This clause sets out additional circumstances in which you or we may cancel the instalment loan.

You may only cancel the instalment loan before the drawdown of an instalment loan and within the period we specify. However, we may charge you a cancellation fee (details of which are available by contacting us).

Telephone enquiry

When we receive an enquiry by telephone, we may verify an enquirer’s identity by asking them to provide your Hong Kong Identity Card number (or passport number if you do not have a Hong Kong Identity Card), the loan amount applied for and any other information we see fit. If we genuinely believe the enquirer to be you, you authorise us to disclose the following data to the enquirer:

loan approval status (approved, pending or rejected); and

if the loan is approved, the exact amount approved, the interest rate, the number of instalments, the final payment date and the drawdown date.

Extract of Service Charges

Late Payment Charge

HK$1,000 per month

Handling Fee

1-2% p.a. on drawdown amount

Early Redemption Penalty

2.5% of the total redeemed amount

Issued by Standard Chartered Bank (Hong Kong) Limited