GXS FlexiLoan Interest Rate Drop Terms and Conditions
Terms and conditions governing GXS FlexiLoan interest rate drop for 30 January 2024 to 31 January 2024 (“Promotion”)
By participating in the Promotion, you agree to the following terms and conditions, as may be amended by the Bank from time to time (“Terms”). Unless otherwise stated, all capitalised terms used in this Promotion shall have the meanings set forth in the GXS FlexiLoan Terms and Conditions or as otherwise defined elsewhere in these Terms.
A. Promotion
The Promotion is available from 30 January 2024 to 31 January 2024 (both dates inclusive) or such date(s) as may be determined and notified by GXS Bank Pte. Ltd. (“GXS” or “Bank”) in its sole and absolute discretion (“Promotion Period”).
- Subject to Clause 2(b) below, you are eligible to participate in this Promotion if:
(i) you have received an invite from the Bank via approved bank channels to participate in the Promotion (an “Eligible Customer”); and
(ii) 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 Promotion Period.
- You will not be an Eligible Customer for this Promotion if:
(i) any condition in Clause A2(a) has not been complied with;
(ii) any information which you have provided to the Bank during the GXS FlexiLoan application process has materially changed prior to drawdown of the loan; or
(iii) you have closed your GXS FlexiLoan account with the Bank at any time prior to your receipt of the Bank’s invite and/or during the Promotion Period.
- Under this Promotion, an Eligible Customer is eligible to enjoy promotional interest rates of 2.08% p.a. (EIR 3.9% p.a.)1 as notified to you by the Bank (“Promotional Interest Rate”) for any loans drawn by the Eligible Customer during the Promotion Period.
- Unless otherwise notified by the Bank to the Eligible Customer, the Promotional Interest Rate offered by the Bank shall be for the Promotion Period only and an Eligible Customer’s GXS FlexiLoan interest rate shall revert to the interest rate last offered by the Bank prior to this Promotional Interest Rate at the end of the Promotion Period.
B. General
1. This Promotion is not valid with other offers or promotions unless otherwise stated.
2. The Bank may, at its sole and absolute discretion, add to, amend, modify or vary any or all of these Terms at any time without notice or liability to any person.
3. The Bank’s records and decisions on all matters relating to the Promotion (including but not limited to the eligibility of any person to participate in the Promotion and the offer of any interest rate with respect to the GXS FlexiLoan) shall be final, conclusive and binding on all customers. We are not obliged to entertain any correspondence.
4. In the event of any inconsistency between these Terms and any brochure, marketing or promotional material relating to the Promotion, these Terms shall prevail.
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 the Promotion including the redemption or use of any good, service, product or facility of any merchant (if applicable) or for any other reason.
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.
7. These 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.
8. A third party who is not a party to these 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.
9. These 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.
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 Promotion 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.
11. The Bank reserves the right, at its sole and absolute discretion, to suspend, discontinue, extend and/or otherwise terminate this Promotion 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 the Promotion.
12. All information is accurate at the time of publication.
1Effective Interest Rate (“EIR”) is calculated based on an average loan amount of S$10,000 with a 24-month repayment period.
30 January 2024
GXS Bank Pte. Ltd. (202005626H)
