HSBC Westside Classic Credit Card

26As an illustration:• 12-month Loan on Phone facility availed of under LOP facility =Rs. 10,750• LOP instalment for the month = Rs. 1,000• Other outstanding balances = Rs. 2,000• Total payment due for the month = Rs. 3,000• Minimum Payment due = (5% x Rs. 2,000) + Rs. 1,000 = Rs. 1,100Scenario I:• Amount paid = Rs. 1,200• Amount outstanding = Total payment due – Amount paid =Rs. 1,800Finance charges at the applicable rate will apply on Rs. 1,800 in thenext billing cycleScenario II:• Amount paid = Rs. 3,000• Amount Oustanding = 0No finance charges will apply.10. Kindly note that according to the new payment hierarchy, theCardholders payments will first be apportioned to fees and charges,outstanding on BT, cash advances and purchase transactions in thatorder. Also note that the Loan on Phone EMI instalments will betreated as purchase outstanding for the purpose of paymentapportionment. EMI payable towards Loan on Phone EMI will be setoff first before any payment is apportioned towards otheroutstanding. Please note in case the amount paid does not clear theEMI amount (partly or fully), the remaining EMI amount will be addedin the next month’s Minimum Amount Due along with standardinterest charged on the said amount.11. Prepayment charges on foreclosure of the loan will apply at the rateof 3% on the outstanding principal amount of the loan, subject to aminimum of Rs. 250.12. If the Cardholder defaults on payment of any of the EMIs, HSBCreserves the right to foreclose the Loan on Phone outstanding anddebit the entire outstanding amount.13. If the Cardholder closes his Credit Card before all instalments havebeen posted, the outstanding loan amount will be debited to theCredit Card account as one consolidated amount.14. HSBC reserves the right to foreclose the loan and debit the entireoutstanding amount if the earlier payments are overdue.15. Any Loan on Phone requests by add-on Cardholders will be billed tothe primary card.16. No request for change in card franchisee (VISA/MasterCard ® ) will beentertained during the entire loan period.17. No request for changes in the billing cycle shall be entertained duringthe entire loan period. The loan period is defined as the loan tenureselected by the Cardholder at the time of request.18. Nothing contained in this scheme shall be construed as an obligationon HSBC to continue the scheme after the scheme termination date.19. HSBC reserves the right at any time without previous notice to add,alter, modify, change or vary all or any of these Terms and Conditions