| 3. Disbursement of Debt Consolidation Program proceeds |
Supplemented terms regarding the early settlement arrangements during the 7-Day Cooling off Period for Debt Consolidation Program:
A 7-day cooling-off period is offered to you if you have successfully applied for and drawdown a Debt Consolidation Program. This means if you early redeem the Debt Consolidation Program in full through our App within 7 calendar days after the Debt Consolidation Program drawdown date, we will waive the handling fee, the early redemption fee (including other applicable fees of a similar nature) and the first month’s interest payable by you under the Debt Consolidation Program. However, you will not be entitled to any of our loan promotion offer if you exercised the 7-day-cooling off period arrangement.
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3.2 |
| 3. Disbursement of Debt Consolidation Program proceeds |
Updated terms regarding disbursement of Debt Consolidation Program proceeds:
3.3 (a): Provide the correct outstanding balance and details of the accounts of any loans and/or credit cards owed by you to us, other bank(s) and/or financial institution(s) as of the time of application (“Debt”).
3.4 (b): The proceeds of the Debt Consolidation Program (less any applicable fees and charges) will be used to settle whole or part of the Debt and related fees and charges incurred us, the other bank(s) and/or financial institution(s), according to the Debt Consolidation Program Confirmation. The proceeds will be disbursed to:
3.4 (b)(ii): the Designated Account. For the amount to be used to settle the whole or part of the Debt, you are responsible for depositing to the designated loan account(s) with the relevant bank(s), financial institution(s) and provide settlement proof(s) to us upon request. If you repay the whole or part of your Debt with us using the proceeds, under normal circumstances, we will proceed to debit the repayment automatically after the proceeds have been disbursed to your Designated Account.
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3.3 (a)
3.4 (b)
3.4 (b)(ii) |
| 8. You need to serve notice for early settlement of a Debt Consolidation Program |
Supplemented terms regarding promotional offers return arrangements in the event of Debt Consolidation Program early settlement:
If you choose to early settle your Debt Consolidation Program, you will also be required to return the monetary equivalent of any loan promotional offers that you have enjoyed in connection with the loan, including but not limited to the monetary equivalent of loan discount coupons and loan cash coupons. These amounts will be charged to you upon your settlement of your Debt Consolidation Program.
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8.2 |
