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I agree to comply with
and be bound by the following Terms and Conditions:
| 1. |
Acceptance
My request for Personal Instalment Loan (the "Loan"), either in writing or by
telephone or online application, will be deemed to be my acceptance of these Terms and Conditions.
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| 2. |
Conditions
The approval of the Loan is conditional upon my credit information/material
having met with the credit requirements of DBS Bank (Hong Kong) Limited 星展銀行(香港)有限公司 (the
"Bank"). All information provided will require verification by production of
original documentation or other acceptable evidence.
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| 3. |
Cancellation of Application
I may not cancel this application once processing has commenced. If
cancellation is possible, I shall pay the Bank all reasonable costs and
expenses in connection with the cancellation.
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| 4. |
Immediate Repayment
I agree to pay to the Bank on demand all principal, interest and other
charges of and relating to the Loan. The Bank shall have the right to review,
modify, reduce and/or cancel the Loan and demand immediate repayment of all
outstanding principal of the Loan and interest thereon without prior notice.
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| 5. |
Monthly Repayment
On or before each Monthly Repayment Date, I agree to pay Monthly Repayment
Amount. The Bank may at its discretion:
| (a) |
apportion the monthly repayments between
principal, interest and handling fee as the Bank shall determine; and/or
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| (b) |
debit my account with such Monthly Repayment Amount on each
Monthly Repayment Date (which expressions as used herein shall have the same
meanings as respectively referred to in the Bank's notification letter to me in
relation to this application or the Loan). The day on which the Loan account is
set up is called the "Account Day". Subject as hereinbelow mentioned, the first
Monthly Repayment Date shall be on the same day as the Account Day in the month
next after the Account Day. In general, clearing and settlement of banks in
Hong Kong take place from Monday to Friday only. If the Monthly Repayment Date
for a particular month falls on a Saturday or a Sunday, or a public holiday, my
account will be debited on the preceding clearing day. If the Monthly Repayment
Date falls on any of 29th, 30th or 31st of each month and a particular month
does not have such date, my account will be debited on the last clearing day of
that month.
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| 6. |
Late Repayment Surcharge
For each month I fail to pay any Monthly Repayment Amount in full when due, the Bank will charge:
(a) a default interest of 3% of the total Monthly Repayment Amount overdue; and
(b) a late charge of HK$300.
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| 7. |
Early Repayment
Early full repayment of the Loan is permissible upon seven days’ prior written notice to the Bank provided that I shall on the date of such repayment pay the outstanding loan principal (including any arrears), outstanding handling fee, interest up to the next repayment date and a repayment handling fee. The repayment handling fee shall be calculated by reference to the number of years in the remaining Loan Period (any part of a year shall be rounded up to a year) and chargeable for each year at a rate of 1.5% per annum on the principal amount of the Loan. The outstanding loan principal and interest shall be calculated by the Bank in such manner as the Bank may at its sole discretion determine. A certificate issued upon my request in relation to the Loan signed by an officer of the Bank as to the outstanding loan principal and interest thereon, charges due and the repayment handling fee shall, in the absence of manifest error, be binding and conclusive on me.
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| 8. |
Set-off
In addition to any general lien or similar right to which the Bank may be
entitled at law, the Bank may, at any time without prior notice, combine or
consolidate any or all of my accounts (whether singly or jointly with others)
with my liabilities to the Bank and set off or transfer any sum or sums
standing to the credit of any of my accounts in or towards satisfaction of my
liabilities to the Bank, whether such liabilities be primary, collateral,
several, joint or in other currencies. Further, in so far as my liabilities to
the Bank are contingent or future, the liability of the Bank to me to make
payment of any sum standing to the credit of any of may accounts shall to the
extent necessary to cover such liabilities be suspended until the happening of
the contingency or future event.
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| 9. |
Bank Charges
I shall pay the Bank a handling commission, as determined by the Bank from
time to time, for each repayment returned for lack of available funds. I
authorise the Bank to debit my Loan account any such amounts so payable. Such
fees and charges are detailed in the charges schedule inforce from time to
time, copies of which are available at the Bank's branches. Details are also
available on request, or by calling the Customer Service Hotline.
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| 10. |
Changes
The Bank will give me at least 30 days' notice in any manner it thinks fit
before varying the fees and charges or these Terms and Conditions. Any such
variation will be binding on me if I continue to utilise the Loan or allow the
Loan to be outstanding after the effective date of variation.
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| 11. |
Collection Costs
The Bank may take such steps and actions as it reasonably thinks fit to
enforce repayment of the Loan and interest thereon and these Terms and
Conditions including without limitation, employing lawyers and third party debt
collection agents to collect any sums I owe the Bank. I shall indemnify the
Bank on demand for all reasonably incurred costs and expenses incurred by the
Bank in respect of any such enforcement steps and actions provided that the
total amount of such costs of debt collection agents to be recoverable shall in
normal circumstances not exceed 30% of the amount of the debt. I also agree and
authorise the Bank to disclose relevant information to such persons for these
purposes.
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| 12. |
Contact Arrangements
If my personal details change (including my address, employment, permanent
residence or telephone number), I will promptly inform the Bank in writing.
Communications delivered personally or sent by post will be deemed to have been
delivered to me (where delivered personally) at the time of personal delivery
or on leaving it at such address, or (where sent by post) 48 hours after
posting. I shall notify the Bank promptly in writing of any difficulty in
repaying any indebtedness or in meeting any payment to the Bank arising from
the Loan.
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| 13. |
Application Enquiry
To allow me to make telephone enquiries with the Bank, I hereby agree that if
the enquirer gives my correct Hong Kong Identity Card number and the
approximate Loan amount applied for, I hereby authorise the Bank to disclose to
such enquirer by telephone: (a) loan approval status (approved, pending or
declined), and; (b) if approved, details of the Loan. The Bank shall be under
no obligation to verify the enquirer's identity further and the Bank shall have
no liability for any loss that I may suffer if such disclosure is made to any
person other than myself in accordance with this procedure. To ensure service
quality and reduce the risk of misunderstood instructions, I accept that in
providing its services, the Bank may (but is not obliged to) record any
telephone or other oral communication in relation to such services.
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| 14. |
No Waiver
No failure, act, omission or delay by the Bank to exercise or enforce any right
shall operate as a waiver of such right, nor will any single, partial or
defective exercise of any right prevent any other or further exercise of it or
the exercise of any other right.
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| 15. |
Miscellaneous
These Terms and Conditions:
| (a) |
are personal to me and my rights or obligations may not be assigned
by me, but the Bank may assign or otherwise dispose of all or any of its rights
and obligations hereunder;
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| (b) |
shall be binding upon my executors, administrators and personal
representatives; and |
| (c) |
shall be governed by and construed in accordance with the laws
of the Hong Kong Special Administrative Region and shall not operate so as to
exclude or restrict any liability, the exclusion or restriction of which is
prohibited by the laws of the Hong Kong Special Administrative Region, and if
they contain any provision which is invalid for any reason, shall be
ineffective only to the extent of such invalidity, which shall not affect the
validity of the remaining Terms and Conditions.
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| 16. |
Tax (with effective from 1 July 2014)
I agree to be bound by the terms relating to tax reporting, withholding and associated requirements specified in the Tax Requirements Notice from time to time issued by the Bank, which are incorporated by reference into and shall form part of these Terms and Conditions. A copy of the Tax Requirements Notice is available on request at the Bank’s branches or from the website (www.dbs.com/hk).
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If there is any inconsistency between the English and Chinese versions of these
Terms and Conditions, the English version shall prevail.
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| 1. |
Acceptance of these Terms and Conditions
By requesting the Personal Instalment Loan, Express Loan, Salaries Tax Loan or Debt Consolidation Loan (the "Loan"), I shall be deemed to have read, understood and accepted these Terms and Conditions.
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| 2. |
Approval of the Loan and Conditions
Approval of the Loan and the terms applicable to the Loan (including amount, tenor of and interest rate applicable to the Loan) shall be at the sole discretion of DBS Bank (Hong Kong) Limited (the "Bank", which shall includes its successors and assigns) and is conditional upon fulfillment of the following conditions to the Bank’s satisfaction:
| (a) |
provide all documentary proof required by the Bank which the Bank may independently verify; |
| (b) |
a satisfactory review of my credit profile available at the credit reference agency; |
| (c) |
in respect of a Debt Consolidation Loan application, (i) reduce the credit limit in respect of any credit card and/or loan account or (ii) cancel any credit card and/or loan account I maintain with another financial institution as required by the Bank. |
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| 3. |
Cancellation of Application
I may not cancel an application for the Loan once processing has commenced unless permitted by the Bank. If the Bank at its discretion permits cancellation of my Loan application, I shall pay the Bank all reasonable costs and expenses in connection with the cancellation.
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| 4. |
Undertakings in respect of Debt Consolidation Loan
If the Loan is a Debt Consolidation Loan, I undertake to the Bank that:
| (a) |
I shall not:
| (i) |
increase the credit limit in respect of a credit card and/or loan account which I have agreed to reduce; |
| (ii) |
re-apply for a credit card and/or re-open a loan account which I have agreed to cancel; |
| (iii) |
increase the credit limit of any existing credit card and/or loan account within 12 months from the drawdown of the Loan; or |
| (iv) |
apply for any new unsecured facility with another financial institution within 12 months from the drawdown of the Loan. |
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| (b) |
If the Loan amount granted by the Bank is smaller than the total outstanding debt(s) owned by me to other financial institutions listed in the Loan application form, I shall be solely responsible for any shortfall and make my own arrangement(s) to repay the same to the said financial institutions. |
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| 5. |
Immediate Repayment
I agree to pay to the Bank on demand all principal, interest and other charges of and relating to the Loan. The Bank shall have the right to review, modify, reduce and/or cancel the Loan and demand immediate repayment of all outstanding principal of the Loan and interest thereon without prior notice.
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| 6. |
Monthly Repayment
On or before each Monthly Repayment Date, I agree to pay the Monthly Repayment Amount. The Bank may at its discretion:
| (a) |
apportion the monthly repayments between principal, interest and handling fee as the Bank shall determine; and/or |
| (b) |
debit my account with such Monthly Repayment Amount on each Monthly Repayment Date (which expressions as used herein shall have the same meanings as respectively referred to in the Bank's notification letter to me in relation to the Loan). If the Monthly Repayment Date for a particular month falls on a Saturday, a Sunday or a public holiday, my account will be debited on the preceding clearing day. If the Monthly Repayment Date falls on any of 29th, 30th or 31st of each month and a particular month does not have such date, my account will be debited on the last clearing day of that month. |
I may not alter the Monthly Repayment Date unless permitted by the Bank. If the Bank at its discretion permits alteration of the Monthly Repayment Date, I shall pay the Bank all reasonable costs and expenses in connection with the alteration.
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| 7. |
Late Repayment Surcharge
For each month I fail to pay any Monthly Repayment Amount in full when due, the Bank will charge:
| (a) |
a default interest of 3% of the total Monthly Repayment Amount overdue; and |
| (b) |
a late charge of HK$300. |
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| 8. |
Early Repayment
Early full repayment of the Loan is permissible upon seven days’ prior written notice to the Bank provided that I shall on the date of such repayment pay the outstanding loan principal (including any arrears), outstanding handling fee, interest up to the next repayment date and an early settlement administrative fee (the “Early Repayment Amount”). The early settlement administrative fee shall be calculated by reference to the number of years in the remaining Loan period (any part of a year shall be rounded up to a year) and chargeable for each year at a rate of 1.5% per annum on the principal amount of the Loan. The outstanding loan principal and interest shall be calculated by the Bank in such manner as the Bank may at its sole discretion determine. Upon my request, the Bank may issue a certificate in relation to the Loan confirming the outstanding principal of the Loan, interest payable thereon, any charges due and the early settlement administrative fee. In the absence of manifest error, such certificate of the Bank shall be binding and conclusive on me. If I pay a lump sum amount (“Lump Sum”) to the Bank which is not enough to pay the Early Repayment Amount, I agree that the Bank may hold the Lump Sum as a prepayment and deduct the Monthly Repayment Amount from the Lump Sum on each Monthly Repayment Date until the Lump Sum is fully deducted. The Bank shall then debit my account with such Monthly Repayment Amount or part of it (as appropriate) on each Monthly Repayment Date thereafter until the Loan is fully repaid. I may not withdraw the Lump Sum or any remaining portion unless permitted by the Bank upon my written notice to the Bank. In case the Bank exercises its discretion to return any amount to me, I shall pay the Bank all reasonable costs and expenses in connection with the refund.
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| 9. |
Set-off
In addition to any general lien or similar right to which the Bank may be entitled at law, the Bank may, at any time without prior notice, combine or consolidate any or all of my accounts (whether singly or jointly with others) with my liabilities to the Bank and set off or transfer any sum or sums standing to the credit of any of my accounts in or towards satisfaction of my liabilities to the Bank, whether such liabilities be primary, collateral, several, joint or in other currencies. Further, in so far as my liabilities to the Bank are contingent or future, the liability of the Bank to me to make payment of any sum standing to the credit of any of my accounts shall to the extent necessary to cover such liabilities be suspended until the happening of the contingency or future event.
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| 10. |
Bank Charges
I shall pay the Bank a handling charge as set out in the Bank Charges Schedule in force from time to time, for each repayment returned for lack of available funds. I authorise the Bank to debit my Loan account any such amounts so payable.
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| 11. |
Amendment
The Bank will give me at least 30 days' notice in any manner it thinks fit before amending the fees and charges or these Terms and Conditions. Any such amendment will be binding on me if I continue to utilise the Loan or allow the Loan to be outstanding after the effective date of the amendment.
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| 12. |
Collection Costs
The Bank may take such steps and actions as it reasonably thinks fit to enforce repayment of the Loan and interest thereon and these Terms and Conditions including without limitation, employing lawyers and third party debt collection agents to collect any sums I owe the Bank. I shall indemnify the Bank on demand for all reasonably incurred costs and expenses incurred by the Bank in respect of any such enforcement steps and actions provided that the total amount of such costs of debt collection agents to be recoverable shall in normal circumstances not exceed 30% of the amount of the debt. I also agree and authorise the Bank to disclose relevant information to such persons for these purposes.
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| 13. |
Contact Arrangements
Communications delivered personally or sent by post will be deemed to have been delivered to me (where delivered personally) at the time of personal delivery or on leaving it at such address, or (where sent by post) 48 hours after posting. If any of my personal details (including my address, employment, permanent residence or telephone number) has been changed, I will promptly inform the Bank in writing. I shall also notify the Bank promptly in writing of any difficulty in repaying any indebtedness or in meeting any payment to the Bank arising from the Loan.
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| 14. |
No Waiver
No failure, act, omission or delay by the Bank to exercise or enforce any right shall operate as a waiver of such right, nor will any single, partial or defective exercise of any right prevent any other or further exercise of it or the exercise of any other right.
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| 15. |
Miscellaneous
These Terms and Conditions:
| (a) |
are personal to me and my rights or obligations may not be assigned by me, but the Bank may assign or otherwise dispose of all or any of its rights and obligations hereunder; |
| (b) |
shall be binding upon my executors, administrators and personal representatives; and |
| (c) |
shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region and shall not operate so as to exclude or restrict any liability, the exclusion or restriction of which is prohibited by the laws of the Hong Kong Special Administrative Region, and if they contain any provision which is invalid for any reason, shall be ineffective only to the extent of such invalidity, which shall not affect the validity of the remaining Terms and Conditions. |
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| 16. |
Tax
I agree to be bound by the terms relating to tax reporting, withholding and associated requirements specified in the Tax Requirements Notice from time to time issued by the Bank, which are incorporated by reference into and shall form part of these Terms and Conditions. A copy of the Tax Requirements Notice is available on request at the Bank’s branches or from the website (www.dbs.com/hk).
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If there is any inconsistency between the English and Chinese versions of these
Terms and Conditions, the English version shall prevail.
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