Standard Chartered Bank (Hong Kong) Limited

Terms and Conditions for Personal Line of Credit Promotion:

Upon customer’s successful application and subject to the terms and conditions below, Standard Chartered Bank (Hong Kong) Limited (“the Bank”) may provide a Personal Line of Credit to such customer if he/she:

a.	holds a valid Standard Chartered current account without any form of Personal Line of Credit or Overdraft facility;
b.	has a fixed monthly income of HK$5,000 or above; and
c.	has provided with us any and all required documents which we see necessary for approving Personal Line of Credit or Overdraft facility; and
d.	is Hong Kong Resident aged 18 or above.

The promotion period is from now to 31 October 2012, both days inclusive (“Promotion Period”).

Customers who successfully apply and credit line is made available during the Promotion Period will be eligible for the following promotional offers in accordance with the terms and conditions set out below:

•	Instant Reward of HK$50 Supermarket Cash Coupon by completing and submitting the required application form
•	Extra Reward of HK$200 Supermarket Cash Coupon by submitting required documents and upon successful application
•	Interest Rate as low as P+4% p.a.

To be eligible for the HK$50 Supermarket Cash Coupon Instant Reward, customers must upfront complete and submit the online Personal Line of Credit Application Form to the Bank during the Promotion Period. The redemption letter will be sent out by mail to the Customer’s correspondence address on or before 31 December 2012.

Customers who successfully apply online and credit line is made available during the Promotion Period will be eligible for the HK$200 Supermarket Cash Coupon. The redemption letter will be sent out by mail to the Customer’s correspondence address on or before 31 December 2012.

Supermarket Cash Coupon (“Coupon”) is subject to the terms and conditions stipulated by the suppliers. The Bank is not the supplier of the Coupon and gives no guarantee to the quality of goods and services provided by the supplier and accept no liability for any matters relating to the Coupon.

We may deduct the annual fee of 1% (per annum) of the credit limit, subject to a minimum charge of HK$200 and a maximum charge of HK$700 from your line of credit/overdraft account on the effective date of the Personal Line of Credit and on each anniversary of the effective date of the Personal Line of Credit. The first-year annual fee will be waived provided that customer has no overdue records or unsatisfactory credit history as determined by the Bank.

Customers who cancel their Personal Line of Credit during the Promotion Period or before the redemption letter are sent will not be eligible for the HK$250 Supermarket Cash Coupon.

The preferential interest rate will be charged as set out in below table:

Line of credit (HK$)	Interest rate*	Annual fee
$10,000 - $19,999	Prime Rate + 7% p.a.	1% of credit limit amount Minimum HK$200 Maximum HK$700
$20,000 - $49,999	Prime Rate + 5% p.a.
$50,000 - $800,000	Prime Rate + 4% p.a.

*Interest shall accrue daily on the basis of a 365 or 366-day year (where applicable). The Prime Rate means the Prime Rate as announced by the Bank from time to time.

10.

The Bank reserves the right to determine the loan amount, interest rate or any other offer in respect of the loan applied, or to decline customer’s application in its entirety without giving any reason for doing so. If customer’s application is declined, no contractual relationship arises between the Bank and the customer in respect of any product or service requested in the application.

11.

In case if customer’s application is approved, the pricing (such as interest rate and handling fee) will be offered to customer based on the credit record customer submits to us upon the application. The Bank reserves the right to modify such pricing offered to customer by giving 30 days’ advance notice based on the Bank’s credit assessment from time to time including, but not only limited to, customer’s repayment record, credit bureau grading and the Bank's prevailing credit policy.

12.

This promotional material is related to promotion offers only. Customers are advised to read the terms and conditions contained in the Standard Chartered Personal Line of Credit/Overdraft and also those stated in the Customer Terms and Personal Loan/Personal Line of Credit/Overdraft Terms (“Terms”), (which are available at our website at www.standardchartered.com.hk) and form part of the banking agreement between the customers and the Bank.

13.

The Bank reserves the right to alter or terminate the above offers and amend any of the above terms and conditions from time to time. For any and all matters or disputes regarding the above, the Bank’s decision shall be final and binding.

14.

If there is any inconsistency of conflict between the English and the Chinese version of the promotional materials and the terms and conditions, the English version prevails.

Terms and Conditions for Personal Line of Credit Promotion:

You need to read this document

It sets out specific terms and conditions on which we agree to provide you with the products and services you applied here. You must read it in conjunction with our Customer Terms, and the applicable documents referred to in Part A of Customer Terms (including the Personal Loans/Personal Line of Credit/Overdraft Terms and the product brochure, Important Notes and promotional terms (if applicable)) and any other documents forming our banking agreement. The banking agreement is available to you at any of our branches or our website at http://www.standardchartered.com.hk. If there is any inconsistency between the approval and any other part of our banking agreement, then the terms in the approval prevails. These terms do not apply to any existing product(s) or service(s) you have with us to the extent that they are subject to separate terms and conditions.

Meaning of words

Other than the defined terms here or under the product brochure or promotional terms (if applicable), you also need to refer to the other documents that form our banking agreement which define key words used below. For instance, please note:-

you means the person named as the “applicant” in the application.

we (without limiting the meaning defined in Customer Terms) or Bank means Standard Chartered Bank (Hong Kong) Limited for this application.

Important Notes

To be eligible for this personal line of credit/overdraft, your annual income has to be HK$60,000 or above.

We reserve the right to determine the loan amount, limit, minimum monthly repayment, interest rate or any other offer in respect of the loan applied, or to decline your application in its entirety without giving you any reason for doing so. If your application is declined, no contractual relationship arises between us and you in respect of any product or service requested in your application.

In case if your application is approved, the pricing (such as interest rate and handling fee) will be offered to you based on the credit record you submit to us upon your application. We reserve the right to modify such pricing offered to you by giving you 30 days advance notice based on our credit assessment from time to time including, but not only limited to, your repayment record, credit bureau grading and our prevailing credit policy.

We may have obtained a credit report on the customer and any of its sureties from a credit reference agency in considering any application for credit. In the event the customer or any of its sureties wishes to access the credit report, we will advise the contact details of the relevant credit reference agency.

We may set off any amount we owe you against any amount you owe us (whether or not the obligation is matured or contingent).

Without limiting the above, our “Notice to Customers and Other Individuals relating to the Personal Data (Privacy) Ordinance and the Code of Practice on Consumer Credit Data” (“Notice”, which is available to you at any of our branches and/or on our website at http://www.standardchartered.com.hk) also forms part of the banking agreement. We will be using the information you provide to us and for such purposes as set out in the Notice.

We reserve the right to amend the contents and all the important notes or terms and conditions here at any time. In case of disputes, our decision shall be final.

If there is any inconstancy of conflict between the English and the Chinese versions, the English version shall prevail.

Extract of Personal Loan / Personal Line of Credit/Overdraft Terms

Part C – Personal line of credit/overdraft

Choosing the account that is right for you

We can structure your line of credit/overdraft to suit your personal banking needs. If you need us to explain any of the features of, or the terms applying to, any line of credit/overdraft, please contact us.

Your limit

Your limit Limit

22.1

You may only draw on a line of credit/overdraft up to the limit. We may cancel or vary the limit at any time.

22.2

You must not draw in excess of the limit unless we agree.

Exceeding the limit

22.3

Sometimes we may allow you to draw in excess of the limit. If we allow you to do so:

•	this is not a waiver of our right to require your line of credit/overdraft to be maintained within the limit; and
•	you must pay the excess immediately.

Using your line of credit/overdraft

We make funds available to you through your account for the line of credit/overdraft in accordance with our usual practice from time to time. This must be an account of a type we specify which must be maintained at all times for the purposes of our line of credit/overdraft. We may change this account at any time for any reason.

Interest, fees and charges

Interest

24.1

We charge interest on that part of the balance owing for the account for the line of credit/overdraft which is within the limit at the rate set out in the approval or any other rate we determine from time to time.

24.2

Tiered interest may be charged for the balance owing on a line of credit/overdraft.

24.3

Unless otherwise specified in our banking agreement, interest accrues on a daily basis and is calculated on the basis of a 365 day year (a 366 day year in the case of a leap year).

24.4

Interest is charged to your account on the last day of each month.

24.5

If you do not make payment when we ask, we may charge a late payment fee as set out in the tariff sheet or elsewhere in our banking agreement. Please contact us for further details.

24.6

If the balance owing on the account for the line of credit/overdraft exceeds the limit, we may charge interest on that excess at the default rate as set out in the tariff sheet or elsewhere in our banking agreement. Please contact us for further details.

Minimum interest amount

24.7

If the interest payable is less than any minimum interest amount we specify, you must pay the minimum interest amount instead.

When interest is payable

24.8

Interest is debited from your account for the line of credit/overdraft monthly in arrears or at any other times we determine.

Fees

24.9

The fees and charges for your line of credit/overdraft are set out in the tariff sheet or elsewhere in our banking agreement. Please contact us for further details.

When you must repay

25.1

We may ask you to repay all or part of the balance owing for your account for the line of credit/overdraft at any time. If we do so, you must immediately pay the amount we demand.

25.2

We may ask you to pay a minimum monthly repayment each month (see the product brochure for details).

Repayment

Minimum monthly repayment

26.1

On or before the due date set out in the statement we issue for a line of credit/overdraft, you must pay at least the minimum monthly repayment as set out in the statement. Alternatively, you may pay the balance owing for the account for the line of credit/overdraft as set out in the statement.

26.2

Your liability to us remains even if, for any reason, you do not receive your periodic statement.

26.3

If an amount is due on a day which is not a business day, you must pay it on or before the next business day.

Calculation of minimum monthly repayment

26.4

We calculate the minimum monthly repayment in accordance with our usual practice. Please refer to your product brochure or contact us for further information.

Methods of repayment

26.5

We advise you of the manner in which you must repay any repayment on the line of credit/overdraft.

26.6

You must comply with our usual requirements for the relevant payment method, including any set out in this clause.

26.7

You must ensure that any payment instrument or payment instruction is honoured. For example, you must:

•

ensure that you have sufficient funds in the account to be debited for an amount equal to:

-	at least the minimum monthly repayment;
-	any applicable charges/fees; and
-	any other amount you owe us in connection with the line of credit/overdraft;

•

not stop cheques;

•

not cancel or vary any payment arrangement (unless we ask you to do so to reflect a change in the minimum monthly repayment) or close or change the account on which cheques are drawn.

26.8

The proceeds of any payment instruction are taken into account in determining the funds available for drawdown on your line of credit/ overdraft only after the payment instrument is cleared.

Automatic repayment from account with another institution

26.9

If we require you to repay by automatic payment from an account with another financial institution you must:

•

organise a payment arrangement with the other financial institution under which an amount equal to:

-	the minimum monthly repayment;
-	the applicable charges/fees; and
-	any other amount you owe us in connection with the line of credit/overdraft,

is debited from that account on each payment date to your account for the line of credit/overdraft and give us satisfactory evidence that this is in place; or

•

provide us with any authority we require to enable us to debit the above amounts, from that account.

Payment in full if we ask

26.10

Despite any other term of our banking agreement, at any time we may demand immediate payment of the balance owing for the account for the line of credit/overdraft.

What happens if you do not pay

26.11

If we do not receive the minimum monthly repayment on or before the due date:

•	you may not use the line of credit/overdraft until the minimum monthly repayment has been paid; and
•	we may suspend your use of the line of credit/overdraft.

How we apply payments

26.12

We may use amounts we receive under our banking agreement to pay amounts you owe us in the following order or any order we choose:

•	interest and other charges as set out in the product brochure, tariff sheet or elsewhere in our banking agreement; then
•	costs in relation to enforcing any debt you owe us; then
•	unpaid transactions and cash withdrawals; then
•	fees, charges and transactions incurred from the use of the line of credit/overdraft not yet shown on the current statement.

Right to reborrow

You may only reborrow an amount repaid if:

•	the balance owing on the account for the line of credit/overdraft does not exceed the limit; and
•	you otherwise satisfy our usual conditions for permitting reborrowing.

Any amount you reborrow forms part of the line of credit/overdraft.

Telephone enquiry

When we receive an enquiry by telephone, we may verify an enquirer’s identity by asking them to provide your Hong Kong Identity Card number (or passport number if you do not have a Hong Kong Identity Card), the loan amount applied for and any other information we see fit. If we genuinely believe the enquirer to be you, you authorise us to disclose the following data to the enquirer:

•	loan approval status (approved, pending or rejected); and
•	if the loan is approved, the exact amount approved, the interest rate and the drawdown date.

Extract of Service Charges

1. Annual Fee	1% of the overdraft limit (minimum HK$200, maximum HK$700 per annum)
2. Late Repayment Charge	A late repayment surcharge of HK$70 if minimum monthly repayment is not received on monthly repayment date

Issued by Standard Chartered Bank (Hong Kong) Limited