Fixed Term Deposit

Warning:

• You may have to pay penalties if you choose to pay off your personal loan early.
• If you do not meet the repayment / payments on your personal loan on time and in full, your account will go into arrears. This may affect your credit rating, which may limit your ability to request loan facility in future.
• Refinancing your loan facility may take longer to pay off than your previous loan facility and may result in higher interest payments.
• In case you fail to fulfill your obligations as per the product Terms and Conditions, before and during your relationship with us, there will be consequences including, but not limited to penalties and legal actions.
• You are required to provide the Bank with copies of your updated documents at all times (Emirates ID, Passport, Visa, Trade License, etc.). Not providing these documents might result in charges, transactions being restricted, account being blocked, or account being closed.
• BSI is obligated to share customer information with the Government/regulatory authorities as per the Bank’s applicable Terms & Conditions. In case of non-payment of the loan, BSI can allocate a third party to recover the amount.
• The Personal Loan is granted on basis of salary transfer to BSI. You should inform BSI for any change on contact details, change in employment status, etc.
• You have the right to withdraw or cancel the Personal Loan Application within 5 business days from the date of signing thereof which is known as “Cooling-Off Period”. On the 6th business day or 1 day after the expiry of the Cooling-Off Period, you must inform the Bank of your decision to cancel or accept, however by signing the waiver of Personal Loan Cooling Off Period document, you will not be entitled for the right of 5 business days cooling off period.