Terms and conditions for the personal loan promotion

1. The Personal Loan promotional interest rate offer of 19.9% is valid from 23^rd January 2012 to 16^th April 2012.
2. This promotional offer is open to new customers of Standard Chartered Bank and existing Standard Chartered Bank customers.
3. Existing Standard Chartered Bank account holders with running loans with Standard Chartered Bank will only qualify for the promotional offer if they transfer other bank loan balances to Standard Chartered Bank.  Top – ups without the loan balance transfer from other banks do not qualify.
4. This offer is valid for the first 2000 approved and disbursed loans. The interest rate applied on subsequent loans will be at the prevailing Personal Loan interest rate.
5. The promotional interest rate offer of 19.9% will not be subject to any re-pricing for the first 12 months.   Thereafter the loan interest rate with revert to a variable rate which will be the interest rate prevailing at that time
6. All SMS messages sent to 6777 will be charged at KES 1 per SMS.
7. Personal Loans will be processed within 3 working days  failure to which SCB shall pay to the customer KES 3000 except where;
   • The amount approved is less than 70% of the loan amount applied for
   • The Bank is awaiting the customer's salary to reflect in the account
   • The employer letter is not submitted along with the application (applicable for companies with a loan scheme arrangement with Standard Chartered Bank)
   • The employer call back confirmation takes more than 1 day
   • Disbursement to other banks by RTGS will be done on the fourth day but no guarantee will be payable for any delay in crediting the account.
8. The Bank reserves the right to vary the terms and conditions of this promotion without prior notice.
9. These terms and conditions are to be read together with the Personal Installment Loan Application form and the attendant terms and conditions.