Notice of Amendment to the Card Statement Instalment Program (“Statement Instalment Program”) Terms and Conditions，(Effective from 16 Dec 2024)
We are updating the Card Statement Instalment Program (“Statement Instalment Program”) Terms and Conditions (“Terms and Conditions”), which will be effective from 16 Dec 2024. While this may sound like another boring update, please take a few minutes to carefully read through this notice to better protect your interests.
Amendments to the Terms and Conditions (“Amendments”) are listed below:
|
Clause |
Amendment |
|
14. Statement Instalment Program not applicable to ZA Bank loans or credit cards |
Existing Clause 14 is deleted |
|
New Clause 14 |
14. Sales Staff remuneration The remuneration of our sales staff is determined based on their overall performance with reference to various factors, and is not determined solely on the sales performance. The sales staff’s remuneration policy is subject to review from time to time. |
| 8.2 |
8.2 Early settlement is subject to full settlement of any and all of the outstanding principal, outstanding interest/handling fee ,late charges, default interest, other applicable fees and charges, and early settlement fees. An early settlement fee will be calculated in such manner and at such rate as we may specify on our designated channel. 。 |
|
9.1 |
9.1 We reserve our overriding right to demand immediate repayment of any Statement Instalment Program (together with any amounts that are then due and payable in connection with such Statement Instalment Program) in full at any time and without giving any reason. If we exercise such right, you must immediately repay all amounts of principal, interest/handling fee、late charges, default interest and any other applicable fees and charges that are then due and payable in respect of any such Statement Instalment Program. |
You can download a PDF version of the updated Terms and Conditions via below link:
https://bank.za.group/agreement/html/en_US/1001936
Please note that the Amendments will be legally binding on you if you do not terminate the Card Statement Instalment Program before 16 Dec 2024.
If you decline to accept the Amendments, you have the right to terminate the products or services according to the relevant provisions under Card Statement Instalment Program before the abovementioned date.
Please feel free to get in touch with us through the ZA Bank App if you need any assistance.