Terms and Conditions
Download Deem General Terms and Conditions
- Easy Cash EPP
Deem Credit Card
Joy Points Program
Eligibility and Earning
Redemption
Expiry
Generic
Deem Bi-annually Draw Terms and Conditions
Deem Bi-annually Draw Earning
Deem Bi-annually Draw Program
Deem Bi-annually Draw Ticket Expiry
Easy Payment Plan
Easy Cash EPP
Balance Transfer
Supplementary Card
Valet Parking Services
Insurance
Payment Hierarchy
3D Secure
Privacy policy
WhatsApp Terms
Easy Cash EPP
- DEFINITIONS
In these Terms and Conditions where the context so admits the following expressions shall have the meanings herein designated unless the context otherwise requires:- “Easy Cash EPP” means the loan to be granted to the Credit Card holder by Deem according to these terms and conditions and includes Loan on Phone (LOP) products and the loans entered into via internet.
- “Manager’s Cheque” means the cheque or any means of payment issued by Deem in favor of the Credit Card holder upon issue of Easy Cash EPP.
- ELIGIBILITY
- Easy Cash EPP is offered exclusively to Deem Primary Credit Card holders who meet the criteria determined.
- The Credit Card holder shall only be eligible for Easy Cash EPP if he/she is within Deem’s criteria determined in accordance with Clause 2.1 above.
- Deem shall grant Easy Cash EPP requested by the Credit Card holder at its sole discretion and reserves the right to reject an application for an Easy Cash EPP to any Credit Card holder without providing rationale for rejection. Deem may cancel, by notice to the Credit Card holder, its commitment to make Easy Cash EPP available or reduce the amount of Easy Cash EPP.
- EASY CASH EPP Amount
- The amount of any Easy Cash EPP shall be determined by Deem at its sole discretion and it shall not in any case exceed the Credit Card holder’s unutilized Credit Limit.
- The Credit Card holder may request the amount of Easy Cash EPP from Deem, provided that the same is within the limit described in Clause 3.1 above.
- Deem shall have the right to determine the amount of any Easy Cash EPP it grants at its sole discretion, provided that Easy Cash EPP is within the limit described in Clause 3.1 above and does not exceed the amount requested by the Credit Card holder.
- BILLING
- In consideration of Deem agreeing to make an Easy Cash EPP available to the Credit Card holder, the Credit Card holder agrees to repay the principal amount of the Easy Cash EPP plus all interest, charges and fees payable hereunder.
- The Credit Card holder shall repay the Easy Cash EPP to Deem in monthly instalments during the term of the Easy Cash EPP booked.
- The amount of each Easy Cash EPP monthly instalment shall be computed by dividing the total Easy Cash EPP amount by the number of months in the term selected by the Credit Card holder.
- The total Easy Cash EPP amount shall be computed by adding the principal amount of Easy Cash EPP and the interest payable during the term of Easy Cash EPP.
- Interest at the rate determined by Deem shall be charged on the Easy Cash EPP. Each Easy Cash EPP monthly instalment will include amounts for the repayment of principal and interest charges.
- Easy Cash EPP monthly instalments shall be billed to the Credit Card holder in the Statement of Account. Billing shall commence from the first Statement of Account sent to the Credit Card holder following the disbursement of Easy Cash EPP.
- REPAYMENT
- The Credit Card holder shall be liable to pay the Easy Cash EPP in monthly instalments billed to the Statement of Account. If the Credit Card holder returns the full amount of Easy Cash EPP to Deem leaving Easy Cash EPP unused, any principal repayments charged to the Credit Card Account will be credited to the Card Account. Any interest payments and fees charged to the Credit Card Account will not be refunded to the Customer and will be considered as charges for the cancellation of Easy Cash EPP.
- If the Credit Card holder pays less than the minimum payment due by the payment due date specified in the Statement of Account, charges and delay interest as per the attached terms and conditions and the Schedule of Fees and Charges will be applicable.
- The Credit Card holder may repay the total Easy Cash EPP amount to Deem in one lump sum. A pre-closure fee at Deem’s prevailing rate shall be charged to the Credit Card holder in this case.
- If the Credit Card holder fails to make payment in full of two consecutive Easy Cash EPP monthly instalments, the entire outstanding balance of the total Easy Cash EPP amount shall immediately become due and payable by the Credit Card holder, and Deem shall have the right to demand the immediate payment thereof.
- Payments made in excess of the Credit Card outstanding will not automatically be adjusted against unbilled instalments and will hence not result in prepayment of Easy Cash EPP.
- If an eligible Credit Card is cancelled prior to payment in full of all amounts outstanding under Easy Cash EPP facility, the entire amount outstanding on the eligible Credit Card (including billed and unbilled retail and cash transactions, all outstanding amounts under a Credit Card Instalment Facility, and all applicable fees and charges) shall be immediately due and payable by the eligible Credit Card holder, whereupon Deem shall have the right to demand immediate payment thereof.
- MISCELLANEOUS
- Easy Cash EPP amount will be transferred to the Credit Card holder’s UAE Bank Account by deducting the available balance on your credit card account.
- The available balance on the Credit Card account will be reduced to the extent of the principal loan availed and will be released as and when the monthly instalments are billed and paid in the subsequent months.
- Applications for a top up of a previously granted Easy Cash EPP that has been partially repaid by a customer will be considered in accordance with Deem`s policy at its sole discretion.
- The Miles Up rewards points will not accrue on Easy Cash EPP transaction amount.
- Deem reserves the right to terminate the Easy Cash EPP service without prior notice.
