1. Contact details

Borrower Name.

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Address.

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Telephone Number.

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Emergency Contact Name.

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Emergency Contact Relationship.

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Emergency Contact Number

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Salary.

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Bank Account (Account Holder Name, IBAN and Bank name)

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2. Key features of the credit product

The type of credit.

Fixed sum agreement.

The total amount of credit.

AED {{result?result.amount:'---' }}

How and when credit would be provided.

We will fund your PayBy Account or Bank Account with the amount of the credit once we have approved your application.

The duration of the credit agreement.

3 months

Repayments.

For loans with a duration of under one month. You will have to repay the total amount of credit at the end of the duration of the credit agreement.

For loans with a duration of longer than one month . You will have to pay a first instalment (including applicable fees) of AED {{result?result.repayAmount:'---' }} on [ insert first payment date ] followed by two further monthly instalments, each in the sum of AED {{result?result.repayAmount:'---' }}.

The total amount you will have to pay.

This means the amount you have borrowed plus interest and other costs.

Total Amount Payable: AED {{result?(result.amount + result.allFee):'---' }} comprising:

Amount of Credit: AED {{result?result.amount:'---' }} plus

Total Charge for Credit: AED {{result?result.allFee:'---' }}.

3. Costs of the credit

The rates of interest which apply to the credit agreement.

We will not charge you interest for loans of under 1 month duration unless you fail to make repayments on the due date.

For loans with a duration of longer than one month, we will charge interest at the rate of 2.7% in addition to interest on late repayments.

Annual Percentage Rate of Charge.

The APR is there to help you compare different offers.

For loans with a duration of longer than one month . 52.72% APR

This is the total cost expressed as an annual percentage of the total amount of credit. The APR is calculated at the time of making this agreement, on the assumption that this agreement remains in force for the duration of the agreement and that you perform all of your obligations under this agreement, including the need to make payments in full and on time.

Any other costs deriving from the credit agreement.

We will also charge you a service fee of 4.9 % of the amount of the credit.

Conditions under which the above charges can be changed.

We may vary the charges set out above in the future. 

These changes may be based on a number of factors. Such factors might include behaviour on your CashNow Account that suggests that you are becoming a higher-risk customer.

Other valid reasons include where there is a change in our funding costs or if there is a change (or we reasonably expect a change) in law, regulatory or industry code requirements.

Costs in the case of late payments.

You will be charged a fixed late payment fee of AED 10.

You will also be charged default interest at the rate of 0.3% for each day that you still owe the payment.

If we ask you to repay and you continue not to do so, we will charge you any reasonable legal costs and expenses we incur in exercising our rights under this Agreement e.g. the cost of finding you if you do not tell us your new address or enforcing this Agreement.

Consequences of missing payments.

Please remember missing payments has serious consequences. This could result in us asking you to repay the credit early and taking legal action against you. It could also make obtaining credit more difficult or more expensive in the future. We may need to take legal action for recovery of the debt and associated costs.

4. Other important legal aspects

Early repayment.

You can at any time repay in full or in part the outstanding balance under this Agreement. There will be no charge for doing so.

Credit Consultation and Credit Information

You accept and authorise us to collect financial data relating to you and your financial obligations to create a credit record and credit information report. We will inform you immediately and without charge if your credit application is rejected on the basis of the credit information collected.