Common use of Financial charges Clause in Contracts

Financial charges. All Cash Advances drawn on the essential card are offered at a preferential rate of 10.8% per annum, calculated on a daily basis, from the date of transactions. If minimum monthly payment is not made on the Payment Due Date or if the Cardholder defaults in payment of any monies due to the Bank under combined credit limits or breaches any agreement with the Bank, then the Bank shall reserve the right to automatically; i. Terminate the preferential rate of 10.8% per annum and charge the interest rate to the standard rate of 18% per annum for cash outstanding balances due and unpaid; and ii. Withdraw the preferential cash advance fee of 2% or minimum RM5 (whichever is higher), and charge the standard rate of 5% or minimum RM20 per transaction (whichever is higher).

Financial charges. All Cash Advances drawn on the essential card Essential Card are offered at a preferential rate of 10.8% per annum, calculated on a daily basis, from the date of transactions. If minimum monthly payment is not made on the Payment Due Date or if the Cardholder defaults in payment of any monies due to the Bank under combined credit limits or breaches any agreement with the Bank, then the Bank shall reserve the right to automatically; ; i. Terminate the preferential rate of 10.8% per annum and charge the interest rate to the standard rate of 18% per annum for cash outstanding balances due and unpaid; and and ii. Withdraw the preferential cash advance fee of 2% or minimum RM5 (whichever is higher), and charge the standard rate of 5% or minimum RM20 per transaction (whichever is higher).