Terms and Conditions

Terms and Conditions governing EasiCredit Balance Transfer Facility

1. One or more transfers (the “Balance Transfer”) may be applied for under your Balance Transfer Facility of only:
(i) the outstanding balance(s); and/or
(ii) funds to be drawn from your EasiCredit Account, in Singapore dollars (each and collectively, the “Applied Balance Transfer Amount”), subject to a minimum amount specified by OCBC, under and/or to any of your credit card/credit line or deposit account(s) (the “Other Card/Credit Line/Deposit Account(s)”) (whichever is applicable) held with (a) in the case of a credit card/credit line account, a bank or financial institution (other than OCBC) in Singapore acceptable to us, and (b) in the case of a deposit account, a bank or financial institution in Singapore acceptable to us, and charged to your EasiCredit Account.

2. No cancellation of a Balance Transfer application or change in the Applied Balance Transfer Amount will be allowed after submission of application.

3. Without prejudice to the rights and remedies of OCBC:
a) any Balance Transfer amount may be drawn from any credit balances available in your EasiCredit Account at point of debit; and/or
b) payments you make to your EasiCredit Account may be applied first to settle balances subject to any promotional interest rate, including transfer of balances, starting with the lowest promotional interest rate. Therefore any amount transferred from your EasiCredit Account may be repaid in full before the expiration of the relevant promotional period.

4. OCBC reserves the right to reject an application for a Balance Transfer in its entirety and/or approve only part of an Applied Balance Transfer Amount (the “Balance Transfer Amount”), whether it would result in the available credit limit of your EasiCredit Account being exceeded, at its absolute discretion and without assigning any reason therefor.

5. In the event that a Balance Transfer Amount (together with any processing and/or other fees payable in connection therewith) results in the Approved Limit of your EasiCredit Account being exceeded, you will be charged interest on such excess sum at such rate(s) prevailing for your EasiCredit Account.

6. OCBC may, on its approval of each Balance Transfer, debit the Balance Transfer Amount (together with any processing and/or other fees payable in connection therewith) from your EasiCredit Account on the date of the approval letter issued by OCBC or such later date as determined by OCBC.

7. You shall be fully liable to OCBC for any and all amounts charged to and/or debited from your EasiCredit Account. Each Balance Transfer Amount (together with any processing and/or other fees payable in connection therewith) charged to and debited from your EasiCredit Account will be treated in the same manner as your Instruction under the OCBC Terms and Conditions Governing Personal Line of Credit Accounts and will be reflected in the monthly Statement of Account issued by OCBC to you for your EasiCredit Account and payable by you in accordance with the OCBC Terms and Conditions Governing Personal Line of Credit Accounts.

8. The promotional interest rate applicable to your Balance Transfer application shall only apply to such Balance Transfer Amount and not to any other amounts (including without limitation any processing and/or other fees payable in connection with any Balance Transfer) outstanding in your EasiCredit Account. Such promotional rate(s) will expire at the end of the applicable promotional tenure, The prevailing rate applicable to your EasiCredit Account will apply thereafter. The foregoing shall not affect or prejudice any other charges imposed at the prevailing rates on sums remaining unpaid (including the minimum monthly repayment) under your EasiCredit Account.

9. OCBC may at any time vary the interest rate chargeable, the basis of calculation of interest, fees and charges in connection with each Balance Transfer in OCBC's sole discretion without any notice and without giving any reason therefor.

10. You shall continue to make payment to your Other Card/Credit Line/Deposit Account(s) until you have received confirmation that such Other Card/Credit Line/Deposit Account(s) has/have been successfully credited. OCBC shall not be liable for any overdue payment, charges, fees or interest, losses or damages that may be incurred thereby. In addition, any charges, fees, interest or losses incurred by OCBC in connection with your BalanceTransfer application, including without limitation, any fees and charges howsoever imposed by the bank or financial institutions of your Other Card/Credit Line/Deposit Account(s) shall be borne solely by you.

11. OCBC Terms and Conditions Governing Personal Line of Credit Accounts shall also apply to the Balance Transfer Facility. In the event of inconsistency between these terms stated herein and the OCBC Terms and Conditions Governing Personal Line of Credit Accounts, the OCBC Terms and Conditions Governing Personal Line of Credit Accounts shall prevail.