2. CHARGES
The following charges shall apply and may from time to time be subject to change upon notice within the full extent permitted or demanded by law
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Charge Description |
Charges |
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Loan Charges |
Upon the Borrower’s application for the I&M 30-Day loan Facility through the OTG App, the Bank shall charge the Borrower a one-off charge exclusive of excise duty (where applicable) for each application for a Short-Term Facility. Once the Borrower opts-in, the Borrower shall receive through the OTG App a confirmation of inter alia, the Short-Term Facility limit which the Borrower has qualified for, the applicable one-off fee, the applicable excise duty, the repayment amount, the repayment date, the applicable credit life insurance and all other applicable charges.
The Bank legally reserves the right to vary the one-off charge as it may determine in its absolute and sole discretion from time to time in line with applicable laws. |
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Application Process |
The Borrower shall apply for the I&M 30-Day loan (“Short-Term Facility”) through the OTG App. |
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The Process |
By checking in the box, the Borrower shall be deemed to have ‘opted-in’ meaning, read, understood, and accepted ALL the Terms and Conditions of the Short-Term Facility.
If the Borrower, after opting in, does not wish to apply for the Short-Term Facility, they may choose to opt-out. In the event that the Borrower applies for a Short-Term Facility, the option to opt-out will only be available once the Borrower repays the Short-Term Facility in full. If the Borrower, after opting in, does not wish to be subjected to direct marketing by the Bank, they may choose to opt-out as provided in clause 13 of this Agreement. |