Please scroll down to read the Key Facts Statement for fees and charges, Reminders about Responsible Borrowing and terms and conditions governing the use of the unsecured lending services. By submitting this application, it signifies your declaration and consent that you have read, understood and agree all relevant terms and conditions, fees and charges and Reminders about Responsible Borrowing.
The specific loan details, including loan amount, interest rate, loan tenor and monthly repayment amount will be shown to you at the end of the application if a preliminary result subject to final offer.
Personal Instalment Loan Terms and Conditions
Acceptance of these Terms and Conditions By requesting the Personal Instalment Loan, Express Loan or Debt Consolidation Loan (the "Loan"), I shall be deemed to have read, understood and accepted these Terms and Conditions.
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 include its successors and assigns) and is conditional upon fulfillment of the following conditions to the Bank’s satisfaction:
provide all documentary proof required by the Bank which the Bank may independently verify;
a satisfactory review of my credit profile available at the credit reference agency;
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.
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.
Undertakings in respect of Debt Consolidation Loan If the Loan is a Debt Consolidation Loan, I undertake to the Bank that:
I shall not:
increase the credit limit in respect of a credit card and/or loan account which I have agreed to reduce;
re-apply for a credit card and/or re-open a loan account which I have agreed to cancel;
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.
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.
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.
Handling Fee For Personal Instalment Loan and Express Loan drawn down before 24 February 2020 and Debt Consolidation Loan drawn down before 14 April 2020, I agree to pay the Bank a handling fee (the “Handling Fee”). The Handling Fee shall be calculated by reference to the loan period and chargeable for each year at a rate specified by the Bank from time to time per annum on the principal amount of the loan. The Handling Fee is embedded in the Monthly Repayment Amount and to be repaid throughout the loan period.
Loan Set Up Fee For Personal Instalment Loan and Express Loan drawn down on or after 24 February 2020 and Debt Consolidation Loan drawn down on or after 14 April 2020, I agree to pay the Bank a loan set up fee (the “Loan Set Up Fee”). The Loan Set Up Fee shall be calculated by reference to the principal amount of the loan at the rate specified by the Bank from time to time and shall be deducted from the loan principal amount upon draw down of the Loan and is non-refundable.
Monthly Repayment On or before each Monthly Repayment Date, I agree to pay the Monthly Repayment Amount. The Bank may at its discretion:
apportion the monthly repayments between principal, interest and Handling Fee (if applicable) as the Bank shall determine; and/or
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.
Late Repayment Surcharge For each month I fail to pay any Monthly Repayment Amount in full when due, the Bank will charge:
a default interest of 4% of the total Monthly Repayment Amount overdue; and
a late charge of HK$400.
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 (if applicable), 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.
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.
Bank Charges I shall pay the Bank a 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.
Amendment The Bank reserves the right at its discretion to review, amend, delete, modify or substitute the Bank Charges Schedule, these Terms and Conditions and/or any other fees and charges from time to time. For changes which shall result in an increase in the fees or charges payable by me and/or affect my liabilities and obligations, the Bank shall give at least 30 days’ notice to me unless such changes are not within the Bank’s control. In other cases, reasonable notice shall be given. Such notice may be given by such means as the Bank at its discretion sees fit. If I allow the Loan to be outstanding after the effective date of any changes, I am deemed to have agreed to such changes.
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.
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.
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.
Miscellaneous These Terms and Conditions:
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;
shall be binding upon my executors, administrators and personal representatives; and
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.
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).
Third Parties Rights A person who is not a party to these Terms and Conditions may not enforce any of their terms under the Contracts (Rights of Third Parties) Ordinance (Cap 623 of the Laws of Hong Kong).
Relationship with the Directors/Employees etc. of the Bank
As a licensed bank, the Bank is subject to certain limitations on advances to persons related to the directors, employees, controllers or minority shareholder controllers of the Bank, its subsidiaries or Affiliates (“Connected Persons”). Unless otherwise declared or disclosed to the Bank, I hereby confirm to the Bank that I am not a Connected Person. I undertake to immediately advise the Bank in writing upon becoming a Connected Person at any time while the Loan or other indebtedness to the Bank is outstanding.
For the purpose of this clause 18, the following terms shall have the following definition: “controllers” and “minority shareholder controllers” shall have the meanings used within the relevant rules relating to exposures to connected parties under the Banking (Exposure Limits) Rules of the Banking Ordinance (Cap 155 of the Laws of Hong Kong); “subsidiary” shall have the meaning ascribed to it in the Companies Ordinance (Cap 622 of the Laws of Hong Kong); and
“Affiliates” in respect of a party, means any other legal entity, directly or indirectly controlling or controlled by or under the direct or indirect common control with that party and “control” in this definition means (i) the direct or indirect ownership of 50% or more of the voting share capital of a party; or (ii) the entitlement to exercise, or control the exercise of 50% or more of the voting power of a party; or (iii) the ability of a party (whether directly or indirectly and whether by ownership of share capital, possession of voting power, contract or otherwise) to direct the management and policies of another party or to control the composition of the other party’s board of directors or equivalent body.
Other Versions of these Terms and Conditions If there is any inconsistency between the English and Chinese versions of these Terms and Conditions, the English version shall prevail.
I agree that the Data Policy Notice shall apply to all information related to me that I have provided to the Bank in this application form or that the Bank has obtained from any other sources or that arises from my relationship with the Bank or any other DBS Group company (“Data”). I agree that the Data Policy Notice shall form part of the Personal Instalment Loan Terms and Conditions. I agree that my Data may be used for such purposes and disclosed to such persons (whether in or outside Hong Kong) in accordance with the Data Policy.
I declare and warrant that I have (a) no overdue credit card or other loan payments outstanding for over 30 days; (b) not had any credit cards in my name cancelled due to payment default; and (c) not had a bankruptcy petition made against me and I am not petitioning or intending to petition for my bankruptcy.
I agree that if my application for the selected loan product is unsuccessful, the Bank may consider this as an application for other personal loan products.
I understand and agree that this application is subject to the Bank’s final approval. If the loan is approved by the Bank, I agree and authorize the Bank to debit from my account the monthly repayment on the date and of the amount as specified in the loan notification letter.
Tax Requirements Notice
This Notice sets out terms relating to tax withholding, reporting and associated requirements which apply to and are binding on customers of DBS Bank (Hong Kong) Limited and DBS Bank Ltd., Hong Kong Branch (together the “Bank”) and applicants for banking or financial services and facilities from the Bank (referred to in this Notice as “You” or “Your”). The provisions of this Notice shall form part of the account terms and conditions and/or the agreements or arrangements that You enter into with the Bank.
For the purposes of this Notice, “DBS Group” means DBS Bank Ltd. and its branches, holding company, representative offices, subsidiaries and affiliates (including branches or offices of such subsidiary or affiliate).
In this Notice “Compliance Requirement” means obligations imposed on any member of the DBS Group under or pursuant to: (a) any law binding or applying to it within or outside Hong Kong existing currently and in the future (e.g. the Inland Revenue Ordinance and its provisions including those concerning automatic exchange of financial account information); (b) any guidelines or guidance given or issued by any legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers within or outside Hong Kong existing currently and in the future (e.g. guidelines or guidance given or issued by the Inland Revenue Department including those concerning automatic exchange of financial account information); (c) any present or future contractual or other commitment with local or foreign legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers that is assumed by or imposed on the Bank or any other member of DBS Group by reason of its financial, commercial, business or other interests or activities in or related to the jurisdiction of the relevant local or foreign legal, regulatory, governmental, tax, law enforcement or other authority, or self-regulatory or industry bodies or associations.
Disclosure of information
You consent to and authorise the Bank, its staff and any other person who by reason of their scope of work or capacity or office have access to the Bank’s records, registers or any correspondence or material with regards to Your personal and account information (“Personal Information”) to disclose any of the Personal Information, where such disclosure is required under any applicable Compliance Requirement, to: (a) any of the Bank’s branches, representative offices, related companies, subsidiaries, or any of the Bank’s other offices, wherever situated and which may be within or outside of Hong Kong; and (b) any local or foreign legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers, including any settlement and clearing agency, whether Hong Kong or foreign, all of which may be within or outside Hong Kong and may be existing currently and in the future.
You undertake and agree to obtain this consent and authorization from any person associated with You, including Your legal and equitable owners and payment recipients, in respect of which the disclosures may be required under any Compliance Requirement.
Notification of change in circumstances
You will promptly notify the Bank in writing of any change in: (a) Your particular(s), circumstance(s), status, including any change in citizenship, residence, tax residency, address(es) on record, telephone or facsimile number and email address; and (b) (where applicable) Your constitution, shareholders, partners, directors or company secretary, or the nature of Your business.
Cooperation with enquiries
You will cooperate fully in respect of any enquiry that the Bank may make for the purposes of compliance with any Compliance Requirement including promptly providing all relevant information, details and/or documents as may be necessary to enable the Bank to comply with the same.
Right to withhold payments
Any sum that may be payable by the Bank to You shall be subject to all applicable laws and regulations, including Compliance Requirements and rules prescribed by the relevant settlement and clearing agencies, any withholding tax requirement, foreign exchange restriction or control. You agree and acknowledge that pursuant to the foregoing the Bank may, without notice or liability to You, perform, or cause to be performed withholding of any monies payable to You, deposit any such monies into a sundry or other account and/or retain such monies pending determination of the applicability of such withholding tax requirement, foreign exchange restriction or control. The Bank shall not be liable for any gross up or any losses that may be incurred by reason of such withholding, retention or deposit.
You agree that the Bank has a right to block transactions, transfer arrangements or terminate all or any of Your accounts or the agreements or arrangements entered into between You and the Bank at any time without having to give any reason or notice if You fail to comply with any of the requirements under this Notice.
If there is any inconsistency between the terms herein and any other terms in the account terms and conditions and/or the agreements or arrangements that You entered into with the Bank, the terms herein shall prevail insofar as they relate to the Bank’s compliance with the Compliance Requirements.
Data Policy Notice
This Notice sets out the data policies of DBS Bank Ltd1 and all its direct and indirect subsidiaries in the Hong Kong Special Administrative Region (“Hong Kong”), save and except for DBS Vickers (Hong Kong) Limited2, (each a “Company”). For the avoidance of doubt, this includes DBS Bank (Hong Kong) Limited3. The provisions of this Notice form part of the account terms and conditions and/or the agreement or arrangements that a data subject enters into with the Company. If any inconsistency is found, the provisions of this Notice shall prevail.
For the purposes of this Notice, “DBS Group” means DBS Bank Ltd and its branches, holding company, representative offices, subsidiaries and affiliates (including branches or offices of such subsidiary or affiliate).
References to “data subjects” in this Notice means the customers of the Company and various other persons, including without limitation, applicants for banking/financial services and facilities, sureties and persons providing security or guarantee or any form of support for obligations owed to a Company, shareholders, directors, corporate officers and managers, sole proprietors, partners, suppliers, contractors, service providers and other contractual counterparties supplying data (including personal data as defined in the Personal Data (Privacy) Ordinance (the “Ordinance”)) to the Company.
From time to time, it is necessary for data subjects to supply the Company with data in connection with various matters such as the opening or continuation of accounts, the establishment or continuation of banking facilities, the provision of banking and other financial services, or the provision of supplies or services to the Company and data subjects.
Failure to supply such data may result in the Company being unable to open or continue accounts or establish or continue banking facilities or provide banking or other financial services, or accept or continue with the provision of supplies or services.
It is also the case that data are collected from data subjects in the ordinary course of the continuation of the relationships with them, for example, when data subjects write cheques, deposit money, give instructions or otherwise carry out transactions as part of the Company's services. The Company will also collect data relating to the data subjects from third parties, including third party service providers with whom the data subjects interact in connection with the marketing of the Company's products and services and in connection with the data subjects’ application for the Company's products and services.
The purposes for which data relating to a data subject may be used will vary depending on the nature of the data subject's relationship with the Company. Broadly, they may comprise any or all of the following purposes:
considering, assessing and processing of applications for banking and/or other financial services and facilities;
operation of the services and credit facilities provided by or to the Company or to data subjects;
provision of references (status enquiries);
conducting credit and other status checks;
assisting other financial institutions to conduct credit checks and collect debts;
ensuring ongoing credit-worthiness of data subjects;
researching and/or designing financial services or related products for data subjects' use;
marketing services, products and other subjects (please see further details in paragraph (h) below);
operating internal controls including determining the amount of indebtedness owed to or by data subjects;
performing treasury functions;
provision of investment management services, dealing and advisory services, custody services and other services under the terms and conditions of the accounts a data subject holds with the Company;
the enforcement of data subjects' obligations, including without limitation the collection of amounts outstanding from data subjects and those providing security for data subjects' obligations;
for operational purposes, credit assessment, credit scoring models or statistical analysis (including in each case, behaviour analysis and evaluation on overall relationship with the DBS Group which includes using such data to comply with any obligations, requirements, policies, procedures, measures or arrangements for sharing data and information within DBS Group and/or any other use of data and information in accordance with any group-wide programmes for compliance with sanctions or prevention or detection of money laundering, terrorist financing or other unlawful activities), whether on the data subjects or otherwise;
complying with the obligations, requirements or arrangements for disclosing and using data that apply to the Company or any other member of DBS Group or that it is expected to comply according to:
any law binding or applying to it within or outside Hong Kong existing currently and in the future (e.g. the Inland Revenue Ordinance and its provisions including those concerning automatic exchange of financial account information);
any guidelines or guidance given or issued by any legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers within or outside Hong Kong existing currently and in the future (e.g. guidelines or guidance given or issued by the Inland Revenue Department including those concerning automatic exchange of financial account information);
any present or future contractual or other commitment with local or foreign legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers that is assumed by or imposed on the Company or any other member of DBS Group by reason of its financial, commercial, business or other interests or activities in or related to the jurisdiction of the relevant local or foreign legal, regulatory, governmental, tax, law enforcement or other authority, or self- regulatory or industry bodies or associations;
enabling an actual or proposed assignee of the Company or any other member of DBS Group, or participant or sub-participant of the rights of the Company or those of any other member of DBS Group in respect of the data subject, to evaluate, enter into and administer the transaction intended to be the subject of the assignment, participation or sub-participation;
purposes specifically provided for in any particular service or facility offered by the Company. Such procedures include matching procedures (as defined in the Ordinance, but broadly includes comparison of two or more sets of the data subject's data, for purposes of taking actions adverse to the interests of the data subject, such as declining an application); and
all other incidental and associated purposes relating to any of the above, including seeking professional advices. The Company keeps data only for as long as is reasonably required for the above purposes or as required by applicable law. This includes keeping, for as long as reasonably required, such data as required for handling enquiries relating to any of the above purposes.
Data held by the Company relating to a data subject will be kept confidential but the Company may provide such information to the following parties (whether within or outside Hong Kong) for any of the purposes set out in paragraph (d):
any member of DBS Group, agent, contractor or third party service provider (or a subsidiary, holding company or related company thereof) who provides administrative, telecommunications, computer, payment, debt collection or securities clearing, data processing or other services to the Company or any other member of DBS Group in connection with the operation of its business;
any other person which has undertaken expressly or impliedly to the Company or any other member of DBS Group to keep such information confidential;
any authorized institution (as such term is defined in the Banking Ordinance) or other authorised or regulated entity of similar nature in another jurisdiction with which the data subject has or proposes to have dealings;
the drawee bank providing a copy of a paid cheque (which may contain information about the payee) to the drawer;
third party service providers with whom the data subject has chosen to interact with in connection with the data subject’s application for the Company’s banking and/or other financial products and services;
credit reference agencies, and, in the event of default, to debt collection agencies;
any person to whom the Company or any other member of DBS Group is under an obligation or otherwise required to make disclosure under the requirements of any law binding on or applying to the Company or any other member of DBS Group, or any disclosure under and for the purposes of any guidelines or guidance given or issued by any legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers with which the Company or any other member of DBS Group are expected to comply, or any disclosure pursuant to any contractual or other commitment of the Company or any other member of DBS Group with local or foreign legal, regulatory, governmental, tax, law enforcement or other authorities, or self-regulatory or industry bodies or associations of financial services providers, all of which may be within or outside Hong Kong and may be existing currently and in the future;
any actual or proposed assignee of the Company or any other member of DBS Group, or participant or sub-participant or transferee of the rights of the Company or those of any other member of DBS Group in respect of the data subject; and
any member of DBS Group;
third party financial institutions, insurers, card companies, securities and investment services providers;
third party reward, loyalty and privilege programme providers;
co-branding partners of the Company and any other member of DBS Group (the names of such co-branding partners can be found in the application form(s) for the relevant services and products, as the case may be);
charitable and non-profit making organisations; and
external service providers (including but not limited to professional advisers, mailing houses, telecommunication companies, telemarketing and direct sales agents, call centres, data processing companies, information technology companies and market research firms), that the Company engages for the purposes set out in paragraph (d)(viii).
For the purpose of (d)(iv) above, the Company may from time to time access and obtain consumer credit data of the data subject from a credit reference agency for reviewing any of the following matters in relation to the credit facilities granted:
an increase in the credit amount;
the curtailing of credit (including the termination of credit or a decrease in the facility amount); or
the putting in place or the implementation of a scheme of arrangement with the data subject.
When the Company accesses consumer credit data about a data subject held with a credit reference agency, it must comply with the Code of Practice on Consumer Credit Data approved and issued under the Ordinance (the “Code”) and other relevant regulatory requirements.
Of all the data which may be collected or held by the Company from time to time in connection with mortgages, the mortgage account general data relating to data subjects (including any updated data thereof) may be provided by the Company to the credit reference agency.
Such mortgage account general data means the following data of the data subject: full name, capacity in respect of each mortgage (as borrower, mortgagor or guarantor), Hong Kong Identity Card or travel document number, date of birth, address, mortgage account number in respect of each mortgage, type of facility in respect of each mortgage, mortgage account status in respect of each mortgage (e.g. active, closed, write-off), (if any) mortgage account closed date in respect of each mortgage.
The credit reference agency will use the mortgage account general data supplied by the Company for the purposes of compiling a count of the number of mortgages from time to time held by a data subject, as borrower, mortgagor or guarantor respectively, for sharing in the consumer credit database of the credit reference agency by credit providers (subject to the requirements of the Code).
USE OF DATA IN DIRECT MARKETING
The Company intends to use the data subject’s data in direct marketing and the Company requires the data subject’s consent (which includes an indication of no objection) for that purpose. In this connection, please note that:
the name, contact details, products and services portfolio information, transaction pattern and behaviour, financial background and demographic data of the data subject held by the Company from time to time may be used by the Company in direct marketing;
the following classes of services, products and subjects may be marketed:
financial, insurance, cards (meaning cards used to withdraw cash or pay for goods and services, including credit cards, debit cards, ATM cards, Cashline cards and stored value cards), banking and related services and products;
reward, loyalty or privilege programmes and related services and products;
services and products offered by the Company’s co-branding partners (the names of such co-branding partners can be found in the application form(s) for the relevant services and products, as the case may be); and
donations and contributions for charitable and/or non-profit making purposes;
the above services, products and subjects may be provided or (in the case of donations and contributions) solicited by the Company and/or:
any other member of DBS Group;
third party financial institutions, insurers, card companies, securities and investment services providers;
third party reward, loyalty or privilege programme providers;
co-branding partners of the Company and any other member of DBS Group; and
charitable or non-profit making organisations;
in addition to marketing the above services, products and subjects itself, the Company also intends to provide the data described in paragraph (h)(i) above to all or any of the persons described in paragraph (h)(iii) above for use by them in marketing those services, products and subjects, and the Company requires the data subject’s written consent (which includes an indication of no objection) for that purpose;
the Company may receive money or other property in return for providing the data to the other persons in paragraph (h)(iv) above and, when requesting the data subject’s consent or no objection as described in paragraph (h)(iv) above, the Company will inform the data subject if it will receive any money or other property in return for providing the data to the other persons.
If a data subject does not wish the Company to use or provide to other persons his/her data for use in direct marketing as described above, the data subject may exercise his/her opt-out right by notifying the Company at any time and without charge. (To opt-out, please complete and return to us an opt-out form available on our website: www.dbs.com.hk or from any of our branches.)
Under and in accordance with the terms of the Ordinance and the Code, any data subject has the right:
to check whether the Company holds data about him/her and access to such data;
to require the Company to correct any data relating to him/her which is inaccurate;
to ascertain the Company's policies and practices in relation to data and to be informed of the kind of personal data held by the Company; and
in relation to consumer credit data (including data relating to mortgages) which has been provided by the Company to a credit reference agency:
to request to be informed which items of data are routinely disclosed to credit reference agencies or debt collection agencies;
be provided with further information to enable an access and correction request to be made to the relevant credit reference agency or debt collection agency; and
upon termination of the account by full payment, to instruct the Company to request a credit reference agency to delete any such data from its database, so long as the instruction is given within 5 years of termination and there has been no payment default in excess of 60 days in the 5 years immediately before account termination.
In the event of any default of payment relating to an account, unless the amount in default is fully repaid or written off (other than due to a bankruptcy order) before the expiry of 60 days from the date such default occurred, the account repayment data may be retained by the credit reference agency until expiry of 5 years from the date of final settlement of the amount in default. Account repayment data includes amount last due, amount of payment made during the last reporting period (being a period not exceeding 31 days immediately preceding the last contribution of account data by the Company to a credit reference agency), remaining available credit or outstanding balance, and default data (being amount past due and number of days past due, date of settlement of amount past due, and date of final settlement of amount in default lasting in excess of 60 days (if any)).
In the event any amount in an account is written off due to a bankruptcy order being made against the data subject, the account repayment data (as defined in paragraph (j) above) may be retained by the credit reference agency, regardless of whether the account repayment data reveal any default of payment lasting in excess of 60 days, until expiry of 5 years from the date of final settlement of the amount in default or expiry of 5 years from the date of discharge from bankruptcy as notified by the data subject with evidence to the credit reference agency, whichever is earlier.
The Company may obtain a credit report on or access the database of the data subject from a credit reference agency in considering any application for credit or conducting credit reviews from time to time. In the event the data subject wishes to access the credit report, the Company will advise the contact details of the relevant credit reference agency.
Data of a data subject may be processed, kept, transferred or disclosed in and to any country as the Company or any person who has obtained such data from the Company referred to in paragraph (e) above considers appropriate. Such data may also be processed, kept, transferred or disclosed in accordance with the local practices and laws, rules and regulations (including any governmental acts and orders) in such country.
The Company may charge a reasonable fee for the processing of any data access request.
Nothing in this Notice shall limit the rights of data subjects under the Ordinance.
In accordance with the Ordinance, data subjects may make data access or data correction requests or request information regarding policies and practices and kinds of data held. Such requests should be addressed to:
The Data Protection Officer DBS Bank Ltd., Hong Kong Branch / DBS Bank (Hong Kong) Limited 10/F One Island East 18 Westlands Road Island East Hong Kong
Facsimile: 2536 4307
In case of discrepancies between the English and Chinese versions, the English version shall prevail.
1A company incorporated in Singapore with limited liability 2A company incorporated in Hong Kong with limited liability 3A company incorporated in Hong Kong with limited liability
Reminders about Responsible Borrowing
You should have a clear understanding of your financial condition, daily expenses, and actual borrowing needs.
You should assess your repayment ability and avoid over-borrowing.
You should repay any outstanding balance on time to avoid late payment charges and additional overdue interest.
To borrow or not to borrow? Borrow only if you can repay!