GXS FlexiLoan Interest Rate Decrease Terms and Conditions

An Interest Rate Service shall be as described in the relevant Specific Terms. The Specific Terms will set out the relevant interest rate decrease period for an Interest Rate Service (“Interest Rate Decrease Period”).

2.1 The relevant eligibility requirements for an Interest Rate Service will be set out in the Specific Terms and these Terms. Any customer who meets the eligibility requirements set out in these Terms and the Specific Terms for an Interest Rate Service which has been extended to the customer by the Bank or which the Bank has invited the customer to participate in will be an eligible customer (“Eligible Customer”). The temporary interest rate an Eligible Customer is eligible to enjoy under any particular Interest Rate Service shall be as described in the Specific Terms for such Interest Rate Service (“Temporary Interest Rate”).

2.2 The Interest Rate Service is available to you if you have met the eligibility requirements set out in the Specific Terms and:

     a. you have opened and maintained a GXS FlexiLoan account, and such account remains active and in good standing with the Bank at all material times, including during the Interest Rate Decrease Period; and

     b. you have received an invite from the Bank notifying you of your eligibility to participate in the Interest Rate Service.

2.3 You will not be an Eligible Customer for an Interest Rate Service if:

     a. any information which you have provided to the Bank during the GXS FlexiLoan application process has materially changed prior to drawdown of any loan pursuant to an Interest Rate Service; or

     b. at any time prior to your receipt of the Bank’s invite to participate in an Interest Rate Service and/or during or after the Interest Rate Decrease Period:

            i. your GXS FlexiLoan account with the Bank is closed, suspended, cancelled or terminated (whether voluntarily or involuntarily); or

            ii. if applicable, any loan to which has been drawn pursuant to an Interest Rate Service is cancelled, reversed, voided and/or terminated for any reason following the drawdown of the loan or otherwise; or

            iii. you’ve breached any of the Terms of an Interest Rate Service or the GXS FlexiLoan Terms and Conditions.

3.1 An Eligible Customer’s entitlement to drawing a loan at the Temporary Interest Rate under any Interest Rate Service shall be subject always to such customer successfully fulfilling the requirements of the Interest Rate Service. 

3.2 Unless otherwise specified, the Temporary Interest Rate shall only apply to the loan or, as the case may be, loans drawn during an Interest Rate Decrease Period and will not apply to any loans drawn before or after the Interest Rate Decrease Period. Unless otherwise notified or specified by the Bank, the Temporary Interest Rate shall revert to the interest rate last offered by the Bank prior to the particular Interest Rate Service at the end of the Interest Rate Decrease Period.

4.1 An Interest Rate Service shall not be valid with any other offers, services or promotions unless otherwise stated or permitted at the discretion of the Bank.

4.2 The Bank may add to, amend, modify or vary any or all of these Terms and/or the Specific Terms at any time without notice or liability to any person.

4.3 The Bank’s  records and decisions on all matters relating to an Interest Rate Service (including but not limited to the eligibility of any person to participate in an Interest Rate Service, any offer under an Interest Rate Service including the offer of any interest rate and the awarding of any cashback, voucher or item) shall be final, conclusive and binding on all customers. We are not obliged to entertain any correspondence.

4.4 In the event of any inconsistency between these Terms and the Specific Terms, the Specific Terms shall prevail. In the event of any inconsistency between any brochure, marketing or service material relating to an Interest Rate Service and the Service Terms, the Service Terms shall prevail. 

4.5 The Bank, employees and/or independent contractors shall not be liable for any loss, liability, expense, damage and/or injury whatsoever or howsoever incurred or sustained by any person by reason of, arising from or in connection with an Interest Rate Service including the redemption or use of any good, service, product or facility of any merchant (if applicable) or for any other reason.

4.6 The Bank is not responsible for any failure or delay in the transmission of any transaction by any party, including acquiring merchants, merchant establishments or any telecommunication provider.

4.7 The Service Terms shall be governed by and interpreted in accordance with Singapore law, and you agree to submit to the exclusive jurisdiction of the Singapore courts.

4.8 A third party who is not a party to the Service Terms shall have no rights under the Contracts (Rights of Third Parties) Act 2001 of Singapore to enforce or enjoy the benefit of any provision of these Terms.

4.9 The Service Terms shall apply in conjunction with the GXS FlexiLoan Terms and Conditions and any other relevant terms as may be updated and/or notified by the Bank from time to time. In the event of any inconsistency between these Terms and the GXS FlexiLoan Terms and Conditions, the GXS FlexiLoan Terms and Conditions shall prevail.

4.10 The Bank reserves the right to reject any application, suspend, terminate or close any GXS FlexiLoan Account and/or change or vary any term of the GXS FlexiLoan offered (including the credit limits and any interest rate) at its sole and absolute discretion, including but not limited to if the Bank determines (at its sole discretion) that an Eligible Customer has not fulfilled the terms of the Interest Rate Service and/or otherwise any misrepresentation, misconduct, fraud, and/or unfair or illegal conduct has been exhibited on the part of the Eligible Customer at any time.

4.11 The Bank reserves the right, at its sole and absolute discretion, to suspend, discontinue, extend and/or otherwise terminate an Interest Rate Service at any time without notice. The Bank shall not be liable for any damages, losses, claims or expenses arising from the suspension, discontinuance, extension and/or termination of an Interest Rate Service.

4.12 With respect to an Interest Rate Service, all information set out in the Service Terms is accurate at the time of publication of such Specific Terms.