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Sample   Letters


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Business Idioms

Dear Sir / Madam,


Finance Charges :  
a) Purchases 18% p.a. of outstanding amount calculated on a daily basis after expiry of interest free period.
b) Cash Advance/ Casino Chips 18% p.a. of the cash advance/ casino chips amount calculated on a daily basis from date of transaction
Cash Advance/ Casino Chip Fees The cash advance fee is 5% of the amount advanced or a minimum of $15, whichever is higher. This is imposed for each cash advance transaction. All cash advances are normally made at par by the disbursing bank subject to any taxes and/ or charges imposed by applicable law and regulations.
Minimum Monthly Repayment 5% of the outstanding balance or a minimum of $50, whichever is higher.
Late Payment Charge The late payment charge is 1% of the minimum repayment amount due or a minimum of $5, whichever is higher.
Interest-free Period 20 days from the date of the monthly billing statement and only applicable for purchase transactions
Conversion for Overseas Transactions The conversion rate as determined by Visa International or MasterCard International and no additional administration cost is imposed by the Bank
Other Charges :  
a) Transaction Receipts $25 per original copy and $15 per duplicate copy
b) Card Replacement Fee $30
c) Cheque Returned Fee A $100 penalty fee will be imposed on cheque returned for non-technical reasons
Notice on Paying Only Minimum Monthly Repayment

The amount of interest you have to pay and the time it takes to repay your balance in full will increase if only the minimum monthly payment is made. Please refer to item1 at the back page which illustrates the amount of interest incurred and the repayment period, under different outstanding amount scenarios if you continue to pay only the minimum amount. the computations are based on 5% minimum payment or $50, whichever is higher, at a finance charge of 18% p.a.

At par - equal, the usual standard or condition

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