FLEXI INSTALLMENT PLAN TERMS & CONDITIONS
In consideration of National Bank of Abu Dhabi PJSC (hereafter referred to as the “Bank”) agreeing to
make available the FGB FLEXI INSTALLMENT PLAN (hereafter referred to as the “FLEXI INSTALLMENT
PLAN”) to the Cardmember (as defined hereunder) at the Cardmember’s request, the Cardmember
hereby agrees to the following terms and conditions.
1. Definitions
Under these Terms and Conditions, where the context so admits, the following expressions shall
have the meaning herein designated unless otherwise distinguished:
I.
II.
III.
IV.
V.
VI.
VII.
“Bank” means National Bank of Abu Dhabi PJSC
“Primary Cardmember” means the person who is approved for a FLEXI Line and to
whom the card account is first opened by the Bank.
“FLEXI Line” is the total Customer level maximum eligible credit line approved by the
Bank for both Credit Card and FLEXI Installment Plan Limit which are independent limits
issued on the same platform
“Cardmember” means the person who is offered FLEXI line (Credit card + FLEXI
Installment Plan limit) by the bank.
“FLEXI Installment Plan account” is an account opened by the Bank for the purpose of
listing all the Credits and debits carried out by the customer for FLEXI Installment Plans
disbursed by the Bank
“FLEXI Installment Plan Limit” means the maximum debit balance permitted by the Bank
that can be used to avail multiple FLEXI Installment Plans for transfer to any personal
Bank account in the UAE or for transfer to settle personal Credit Card outstanding’s in
other Banks, as notified to the Cardmember from time to time.
“FGB FLEXI Installment Plan Program” (hereafter referred to as “FLEXI Installment
Plan”), means the cash installment plans to be granted to the card member by bank
based on his requirement at any point of time.
2. Eligibility
I. The FLEXI Installment Plan is offered exclusively to our customers who have approved FLEXI
Installment Plan Limits, (Who meets the criteria determined by the Bank for this facility and to
whom the offer to apply for such facility has been communicated by the Bank).
II. FLEXI Installment Plan Limit will be allocated as below:
 Cardmembers applying for FLEXI Line will be issued a credit card with a credit limit
based on customer maximum eligibility as per the Bank’s policy. Additional limit will be
approved as a FLEXI Installment Plan Limit as per customer eligibility and the Bank’s
policy
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 Cardmembers applying only for a Credit Card will be issued only a Credit Card with a
limit assigned as per the Bank’s policy
 Cardmembers applying only for a FLEXI Installment Plan limit will be approved
for maximum eligible FLEXI Installment Plan Limit as per the Bank’s policy at the Bank’s
discretion
III. The Bank shall issue the FLEXI Line with a FLEXI Installment Plan requested by the
Cardmember at its sole discretion and reserves the right to refuse approving a FLEXI Line
with a FLEXI Installment Plan limit to any Cardmember without revealing the reasons for
such refusal.
IV. The Bank may run promotions from time to time at its discretion
V. For FLEXI Installment Plan disbursals to customer personal accounts or Credit Cards
held with other banks, the Card members name on the other bank account/ Credit Card
should be the same as the approved FLEXI Line.
VI. Cardmembers will be permitted to make adjustments to their Credit Card and FLEXI
Installment Plan limit via telephonic instructions as detailed in clause 5 below. Any such
adjustments will be done based at the bank’s sole discretion in lines with the policy
3. Amount of the FLEXI Installment Plan
I. The amount of the FLEXI Installment Plan booked by the Bank shall not be less than
AED 500 (transfer to Bank account) or AED 1000 (transfer to Credit Card) and in all cases
the principal amount of FLEXI Installment plans shall not exceed 90% of the available
FLEXI Installment Plan Limit on date of requesting.
II. The installment amount of the FLEXI Installment Plan booked out of the FLEXI
Installment plan limit will include the interest component of the FLEXI Installment Plan
amount
III. The Bank shall have the right to determine the amount of any FLEXI Installment Plan
it issues at its sole discretion, provided that the same is within the limits described in
Clause 3.1 above and does not exceed the amount requested by the Cardmember.
4. Billing and Repayment of the FLEXI Installment Plan
I. The FLEXI Installment Plan outstanding amount will be reflected in the next monthly
statement of the FLEXI Installment Plan limit.
II. The FLEXI Installment Plan outstanding amounts will abide by the same Terms and
Conditions that are available in Annexure I and Annexure II below.
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III. The repayment of the amount booked will be in equated monthly installments based
on the period of tenure opted by the Cardmember.
IV. The interest charged on the FLEXI Installment Plan will be at a flat rate as decided by
the bank from time to time and will be levied upfront.
V. AED 100 cancellation fee will be levied and no interest will be reversed on premature
cancellation of the plan for premature cancellation of the plan.
VI. The Bank shall apply an exception to Clause 4.V at its sole discretion and a fee of 1%
of the outstanding amount will be applied for premature cancellation of the plan availed
by the customer.
VII. The FLEXI Installment Plan monthly installment will be due in full on the due date
mentioned on the monthly statement. VIII. Cardmembers will need to make their FLEXI
Installment Plan Limit statement due payments separately to their FLEXI Installment
Plan Account
5. Acceptance of Telephonic Instructions
. The Cardmember authorizes the Bank to accept telephonic instructions given to the
Bank to avail a pre-approved FLEXI Line, make adjustments to individual Credit Card and
FLEXI Installment Plan Limits issued under the Cardmembers FLEXI Line or book FLEXI
Installment plans whenever the Bank receives a telephone call from a person who
identifies himself/herself as being the Cardmember.
II. The Cardmember agrees that the confirmation by the caller of the Cardmember’s
identity, by provision of the personal details required by the Bank, will be sufficient
evidence for the Bank to identify the caller and to act upon his/her instructions.
III. The Cardmember hereby consents to the recording of such telephone calls by the
Bank and accepts such recordings as evidence before a court of Law or any other legal
proceedings with regards to all the particulars of the FLEXI Line or FLEXI Installment Plan
including, but not limited to: issuance of the FLEXI Installment Plan, its amount, number
of installments, etc. The Cardmember consents to the use of such recordings by the
Bank.
IV. The Cardmember authorizes the bank to accept instructions pertaining to the FLEXI
Line or FLEXI Installment Plan received by a letter, telephone, internet, IVR, SMS, or any
other channel introduced by the bank from time to time.
V. Cardmembers will be charged Late Payment Fees upon any default in payment of the
any due monthly installment.
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VI. The Cardmember agrees that the Bank’s records pertaining to the FLEXI Line and
FLEXI Installment Plan Limit will be final and binding and that he/she shall not deny the
validity of the transactions made with relation to the FLEXI Installment Plan.
6. Indemnity
I. The Cardmember agrees to hold harmless and indemnify the Bank against any loss,
cost, damage, expense, liability or proceeding incurred by the Bank by reason of these
Terms and Conditions or any breach thereof or as a result of it acting upon the
Cardmember’s instructions.
II. The Bank shall not be in breach of these terms and conditions or otherwise liable to
the Cardmember for any delay, non-performance, non-occurrence or failure with
respect to the FLEXI Installment Plan, which is due to an event of Force Majeure. In such
an event, the Bank may cancel, terminate, modify or suspend the promotion and
terminate these terms and conditions and the Bank’s obligation to the Cardmember is
automatically discharged without liability to the Bank and necessity of the Bank to
provide notice to the Cardmember. For the purposes of these terms and conditions,
Force Majeure means a circumstance beyond the reasonable control of the Bank
including amongst other things, strikes or other industrial disputes, acts and/or
regulations of any governmental or supra national bodies or authorities in any
jurisdiction (including without limitation any charges to laws which could hinder, delay,
restrict or prohibit the promotion) or any transport, port or air disruption, Acts of God;
hurricane, tornado, or other weather conditions; labor strike, lockout or other industrial
disturbance or; war, riot, sabotage, act of public enemy or threat of any of the
foregoing; terrorist act or gang violence or threat of any of the foregoing; flood or other
natural disaster.
7. The Terms and Conditions herein shall be without prejudice to the Terms and Conditions governing
the issuance and use of the National Bank of Abu Dhabi PJSC
8. If at any time dispute arises in connection with either the FLEXI Line or FLEXI Installment Plan program
or these Terms and Conditions, the Bank’s decision in connection with the same shall be final and
binding. The Bank reserves the right to terminate the FLEXI Installment Plan without prior notice.
9. The Bank may from time to time, without giving prior written notice to the Cardmember, change any
provision of these Terms and Conditions at its sole discretion.
10. The Cardmember acknowledges that he/she has read the entire Terms and Conditions and accepts
to be bound by them. The Cardmember also agrees that his/her usage of the FLEXI Installment Plan
establishes his/her consent to these Terms and Conditions.
11. The Terms and Conditions are governed by and shall be construed in accordance with the laws of the
UAE and the Cardmember hereby submits irrevocably to the laws of the non-exclusive jurisdiction of the
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civil courts of Dubai. Such submissions shall however not prejudice the rights of the Bank to bring
proceedings against the Cardmember in any other jurisdiction.
12. Other terms and conditions apply.
Annexure I- Payment Details of all fees & charges referred to in this section are listed in the
accompanying Service & Price Guide. This Service & Price Guide may be amended from time to time
usually giving advance notice to the Cardmember.
I.
II.
III.
IV.
V.
The Cardmember agrees to pay to the Bank upon request an annual fee as prescribed by
the Bank for the Card when issued or renewed.
The Cardmember agrees to pay the total amount of all charges described as the current
balance specified in the FLEXI limit statement which is due in full and payable not later
than the date specified on the FLEXI Installment Plan limit Statement. The Cardmember
shall incur no financial charge or Late Payment Fees if payment of the current balance is
received by the Bank on or before the payment due date.
The Cardmember shall and undertakes to stay within the prescribed FLEXI Installment
Plan Limit assigned by the Bank and further undertakes to effect no FLEXI Installment
Plan transactions which may cause the aggregate outstanding balance under all such
transactions to exceed such FLEXI Installment Plan Limit. If in contravention to this
provision, the Cardmember exceeds the FLEXI Installment Plan Limit, then the
Cardmember shall pay the amount exceeding the FLEXI Installment Plan Limit in full and
the monthly amount due in addition an overlimit Charge.
If the Cardmember fails to pay the monthly amount due by the payment due date, or no
payment is made, or payment is made but after the payment due date a late payment
fee be levied.
All payments received by the Bank from the Cardmember towards his/her FLEXI
Installment Plan Limit maybe applied in the following order of payment or such other
order of priority as the Bank may deem fit:
a. FLEXI Installment Plans interest
b. FLEXI Installment Plans principal installment amount
c. All Bank charges such as credit shield, annual fees, late payment fees, over limit fees
shown in the FLEXI Installment Plan Limit Statement The Bank shall be entitled at its
sole discretion to vary the rate or method of calculation of its fees and charges
including but not limited to the Annual fees, additional charges, finance charges, the
specified monthly amount due, late payment fees and/or any other fees or charges.
All payments made by the Cardmember shall be in the billing currency of the FLEXI
Installment Plan limit. Any payment made by the Cardmember in the billing
currency of the FLEXI Installment Plan limit will be credited to the FLEXI Installment
Plan limit only on the date of the Bank's posting of the funds (post realization) into
the FLEXI Installment Plan Account
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VI.
VII.
VIII.
IX.
X.
XI.
XII.
Additional charges as prescribed by the Bank are payable by the Cardmember to the
Bank immediately upon any request to the Bank for the provision of copies of
statements and any further services the Bank may provide from time to time.
Without prejudice to the Bank's rights at any time to take the appropriate legal action,
the Bank may charge fees for any returned unpaid cheques drawn by the Cardmember
to the Bank in full or partial payment of the outstanding amount
The Cardmember hereby expressly agrees that if any sums shall be due from the
Cardmember to the Bank at any time under the FLEXI Installment Plan, or the
Cardmember shall be liable to the Bank on any banking account, current or otherwise, in
any manner or if default is made by the Cardmember in the provisions of such accounts
or in any other banking facilities granted by the Bank to the Cardmember, then and in
such event, the whole outstanding balance on the FLEXI Installment Plan limit shall
become immediately due and payable and the provisions of clause Annexure II hereof
shall be applicable.
Any cheque deposit shall be acceptable for collection and the proceeds shall not be
available until the cheque has been cleared and the proceeds paid to the Bank by the
paying bank. Any cash deposits may only be regarded as having been received by the
Bank upon crediting the same to the FLEXI Installment Plan Account.
The Bank may at any time demand that the Cardmember deposits an undated cheque
and/or pledge cash collateral in favor of the Bank for the amount that the Bank may
require even when such a cheque was not demanded when the FLEXI Installment Plan
limit was issued to the Cardmember. The Cardmember, in such an eventuality, will be
deemed to have authorized the Bank to insert the date on the said cheque and to
present it for payment on the inserted date against any amount due to the Bank.
Non receipt of Statement of Account shall not be construed by the Cardmember to be
sufficient reason for non-payment of dues on time.
The payment by the Cardmember of any sum to the Bank in respect of any FLEXI
Installment Plan Statement shall constitute binding and conclusive evidence of the
acceptance by the Cardmember of the entries shown on that FLEXI Installment Plan
Statement.
Annexure II. Termination
I.
II.
Notwithstanding the payment provisions outlined under Annexure I above, all
amounts outstanding on a FLEXI Installment Plan limit together with the amount
incurred by the use of the FLEXI Installment Plan limit but not yet charged to the
Cardmember's account shall be payable immediately in full upon the termination of
this Agreement
The Cardmember may at any time notify the Bank of his intention to close the FLEXI
Installment Plan limit and terminate the use of it by giving a notice in writing. The
FLEXI Installment Plan limit shall be closed only after the receipt of full payment of all
charges and liabilities under the Cardmembers FLEXI Installment Plan limit.
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III.
IV.
V.
VI.
VII.
VIII.
The Bank may at any time recall the FLEXI Line or all or any FLEXI Installment Plan
limits and terminate its/their use without giving prior notice to the Cardmember. The
Cardmember shall immediately upon first demand, make full payment of all charges
and liabilities to the Bank.
IV. The use of the FLEXI Installment Plan limit shall be terminated by the Bank without
notice upon the death, bankruptcy or insolvency of the Cardmember or when the
whereabouts of the Cardmember become unknown to the Bank due to any cause not
attributable to the Bank.
The Cardmember and/or his estate will be responsible for repaying in full any
outstanding balances on the FLEXI Installment Plan limit and shall keep the Bank
indemnified for all costs (including legal fees and Charges) and expenses incurred in
recovering such outstanding balances.
The Bank shall not be liable to refund the annual membership fee for or any part
thereof in the event of the termination of the FLEXI Line FLEXI. (if any)
In the event that any Security is held by the Bank as collateral for the issuance of the
FLEXI Installment Plan limit, the Bank reserves the right to retain such security for a
period of at least 45 days following the FLEXI Installment Plan limit being cancelled
whether cancelled by the Cardmember or the Bank or following the Agreement being
terminated.
The Bank reserves the right to enforce and liquidate any security retained as
stipulated in (vi) above and shall apply proceeds of such enforced security in the
manner provided in Annexure I (v) above
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