TERMS AND CONDITIONS OF DBS PERSONAL LOAN AND DIGIBANK PERSONAL LOAN

    TERMS AND CONDITIONS OF DBS PERSONAL LOAN AND DIGIBANK PERSONAL LOAN

    These Terms and Conditions apply to the DBS Personal Loan and digibank Personal Loan facilities. Please read these DBS Personal Loan and digibank Personal Loan Terms and Conditions carefully. 
     

    A. DEFINITIONS AND INTERPRETATIONS 

    Unless the context requires otherwise, the following terms used in these Terms and Conditions of DBS Personal Loan and digibank Personal Loan shall be understood and have the following meanings: 

    "digibank Mobile Banking Application" shall mean the electronic banking service provided by the Bank that allows the Customer to access banking services through a mobile phone. 

    "Autodebit" shall mean the feature for Personal Loan installment payments, where the Customer authorizes the Bank to automatically debit the payment from the Customer's savings or current account with the Bank. 

    "Bank" shall mean PT Bank DBS Indonesia, a licensed banking institution supervised by the OJK (Financial Services Authority). 

    "BI" shall mean Bank Indonesia. 

    "DBS Personal Loan" shall mean the personal loan product applied for through a loan application submitted to the Bank, which requires the Customer to make monthly installments to the Bank. The monthly installments paid to the Bank include the loan principal (debt), interest, and additional fees (if any), in accordance with the installment payment schedule, until the entire DBS Personal Loan is fully paid off by the Customer to the Bank. 

    "digibank Personal Loan" shall mean the personal loan product applied for and managed through the digibank Mobile Banking Application, which requires the Customer to make monthly installments to the Bank. The monthly installments paid to the Bank include the loan principal (debt), interest, and additional fees (if any), in accordance with the installment payment schedule, until the entire digibank Personal Loan is fully paid off by the Customer to the Bank. 

    "Personal Loan (KTA)" shall mean the DBS Personal Loan and/or digibank Personal Loan (as relevant). 

    "Customer" shall mean the applicant approved by the Bank to receive the DBS Personal Loan and/or digibank Personal Loan. 

    "OJK" shall mean the Financial Services Authority. 

    "Personal Loan Application" shall mean the personal loan application completed and submitted by the applicant. The DBS Personal Loan application is submitted through a form that is completed and signed by the Customer, while the digibank Personal Loan application is submitted through the digibank Mobile Banking Application. 

    "Credit Approval" shall mean the information with regard to the approval to the personal loan by the Bank, which is sent either via printed form or electronic mail (e-mail). 

    "Disbursement Account" shall mean a savings account in the Customer's name as listed in the Personal Loan Application. For the digibank Personal Loan, the disbursement will be made to the Customer’s digibank savings account. 

    "Payment Due Date" shall mean the date specified in the Credit Approval, which is the deadline by which the installment payment shall be received by the Bank.

    Each title used in these Terms and Conditions of the DBS Personal Loan and digibank Personal Loan is for convenience of reference only and should not be interpreted as part of the content of these Terms and Conditions of the DBS Personal Loan and digibank Personal Loan. 

    Unless otherwise specified, any word (including those defined herein) written in the singular form shall also be interpreted as plural, and vice versa, any word written in the plural form shall also be interpreted as singular. A reference to a single type should also be interpreted as referring to more than one type. 

    Any reference to a certain document or agreement is deemed to refer to that certain document or agreement, including any amendments, variations, modifications, or additions thereto from time to time, and any documents or agreements that are supplement to it. 

    Unless otherwise specified, references to laws and regulations include references to laws and regulations that have been re-enacted, as well as the amendments thereto and subordinate regulations created as implementing regulations for those laws and regulations.

    B. USE

    The Personal Loan (KTA) can be used for various personal purposes such as for the purchase of electronic goods, vacations, education, home renovations, weddings, and other consumption expenses, in compliance with the prevailing laws and regulations. 

    The Bank will disburse the approved Personal Loan (KTA) directly to the Disbursement Account within a maximum of 3 (three) business days as of the confirmation of approval given by the Bank to the Customer. 

    C. APPLICATION STATUS INFORMATION AND SUPPORTING DOCUMENTATION

    C.1. APPLICATION STATUS INFORMATION 

    Information with regard to the status of the Personal Loan (KTA) application may be provided by the Bank to the Customer through a medium chosen by the Bank, directed to the phone number, email, or correspondence address of the Customer recorded in the Bank’s system. 

    By submitting and/or signing the Personal Loan (KTA) application, the approval to the Personal Loan (KTA) application by the Bank, and the receipt of the Personal Loan funds by the Customer, the Customer acknowledges having incurred a debt to the Bank in the amount of the loan principal (debt) plus interest and any other fees that must be paid by the Customer to the Bank. 

    C.2. SUPPORTING DOCUMENTATION 

    C.2.1. Credit Approval 

    Information with regard to the approval to the Personal Loan (KTA) application may be communicated via short message service (SMS). The Credit Approval, which will include the details of the Personal Loan (KTA) approved by the Bank, will be sent via email or letter to the address the Customer has provided in the Personal Loan (KTA) Application as the correspondence address. 

    The details of the Personal Loan (KTA), including the amount, interest rate, and term, that are applicable and binding on the Customer are the details approved by the Bank as stated in the Credit Approval, and not those submitted by the Customer in the Personal Loan (KTA) Application. 

    The amount and term that are binding on the Customer are the amount and term of the Personal Loan (KTA) approved by the Bank in the Credit Approval, which may differ from the amount and term the Customer applied for in the Personal Loan (KTA) Application. 

    C.2.2. Billing Statement and Payment Due Date 

    The Customer will not receive a monthly billing statement. Information with regard to the Customer’s monthly billing statement can be obtained at any time through the DBSI Customer Centre services, while for digibank Personal Loans (KTA), monthly billing information can also be accessed through the digibank Mobile Banking Application. The Payment Due Date is not the same as the date the DBS Personal Loan or digibank Personal Loan is approved. The Payment Due Date will be determined by the Bank and communicated to the Customer in the Credit Approval. The interest calculation starts from the date the Personal Loan (KTA) is approved until the Personal Loan (KTA) term expires. If the Payment Due Date for a particular month falls on a Saturday, Sunday, and/or another holiday, the Bank will set the Payment Due Date to the nearest preceding business day. To avoid the risk of incurring late payment fees, the Bank recommends that the Customer always pay the monthly Personal Loan (KTA) installment no later than 3 (three) business days before the Payment Due Date. 

    C.2.3. Payment Guide 

    The payment guide contains information on the methods of payment of the Personal Loan (KTA) installments through payment networks designated by the Bank from time to time, which can be found on the Bank’s website. 

    D. CUSTOMER APPROVAL

    D.1. DBS Personal Loan 

    The applicant or the Customer (as relevant) agrees that by signing the Personal Loan (KTA) application, they have agreed to all the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan, and as such, this agreement serves as valid and binding evidence for the applicant or the Customer (as relevant) and providing conclusive evidentiary strength for both the Bank and the applicant or the Customer (as relevant). 

    D.2. digibank Personal Loan 

    The applicant or the Customer (as relevant) agrees that by selecting the 'Agree' button on the 'Terms and Conditions' page when applying for the digibank Personal Loan, they have agreed to all the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan. Therefore, this agreement serves as valid and binding evidence for the applicant or the Customer (as relevant) and providing conclusive evidentiary strength for both the Bank and the applicant or the Customer (as relevant), just as if it were a written proof or as if approval had been given by signing the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan. 

    E. REPRESENTATIONS AND WARRANTIES 

    The Customer represents and warrants that all information provided or entered by the Customer when applying for the Personal Loan (KTA), including the spelling of names, is complete and correct as stated on the Customer’s electronic Resident Identity Card (e-KTP), and that the Customer has not concealed any actual facts. The Customer acknowledges that all information on the Personal Loan (KTA) application is true and constitutes the most current data of the Customer. If the Customer has previously been a customer of the Bank, or is currently a customer of the Bank with existing data in the Bank’s system, the Bank has the right to update the data recorded in the Bank's system based on the information provided or entered during the Personal Loan (KTA) application. 

    1. The Customer represents and warrants the authenticity and validity of all supporting documents that the Customer will and/or has submitted as part of the Personal Loan (KTA) application requirements.
    2. The Customer agrees that all information that the Customer will and/or has provided, as well as any information that will and/or has been obtained from any party, will become the property of the Bank, and all such information and documents do not need to be returned to the Customer.
    3. By submitting the Personal Loan (KTA) application, the Customer agrees and authorizes the Bank to: 

    4.1 -At any time, verify the accuracy of all information provided by any ways, including but not limited to collecting, analyzing, and verifying information from any sources deemed appropriate by the Bank (including checking the Customer's status with the Financial Information Services System (SLIK) of the Financial Services Authority (OJK), credit bureaus or similar entities, and/or collaborating with service providers for information processing and/or identity verification). 

    4.2 -Provide information and particulars about the Customer’s personal data, such as name, phone number, and/or home/email address, and/or other particulars that constitute personal identity listed on the Customer’s Personal Loan (KTA) application to third parties designated by the Bank, for the purposes, including but not limited to, surveys, collections, document delivery, or third parties supporting the Bank's business activities, in accordance with the prevailing laws and regulations. By doing so, the Customer understands the purpose and consequences of providing and/or disclosing the Customer’s personal data to the parties outside the Bank’s legal entity. 

    The Customer represents and warrants that the Customer has obtained all necessary approvals and consents, including but not limited to the approval from his/her spouse and any third parties, to sign and fulfill the Customer’s obligations arising from this Personal Loan (KTA). 
    1. The Customer fully understands and agrees to the interest rates and all applicable fees, as well as other important information, as outlined in the Credit Approval.
    2. The Customer understands, acknowledges, and agrees that the Personal Loan (KTA) application will be processed without any additional charges, other than the stamp duty for the Personal Loan (KTA) application and any other fees mentioned on the Bank’s website or in the Personal Loan (KTA) application, which will be charged if the Personal Loan (KTA) is approved. The Customer will not provide any rewards (e.g., money, gifts, or in any form) to the Bank or any third parties in relation to the Personal Loan (KTA) application. The approval to the Personal Loan (KTA) application is solely determined by the Bank, not by any third party.
    3. The Bank has provided sufficient and adequate information with regard to the features, characteristics, terms and conditions, risks, and costs associated with the Personal Loan (KTA). Therefore, the Customer hereby expressly declares that he/she fully understand and agree to all the features, characteristics, terms and conditions, risks, and costs associated with this Personal Loan (KTA).
    4. The Customer agrees and acknowledges that the Bank has the right to provide information with regard to changes to the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan, or with regard to the approval or rejection of the Personal Loan (KTA) application submitted by the Customer, via telephone, letter, short message service (SMS), or email, as long as it is in accordance with prevailing laws and regulations.
    5. The Customer hereby declares that if the Personal Loan (KTA) application submitted by the Customer is approved by the Bank and the Personal Loan (KTA) is disbursed, the Customer agrees to be fully bound by and comply with the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan, along with any changes, which will be notified by the Bank in accordance with applicable regulations. The Customer acknowledges and declares that it is the Customer responsibility to review and fully understand the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan.
    6. The Customer irrevocably grants the Bank with approval and authorization to directly transfer the approved Personal Loan (KTA) funds to the Disbursement Account.
    7. The Customer fully understands that the Personal Loan (KTA) is a personal loan product that requires the Customer to make monthly installments to the Bank. The monthly installments paid to the Bank include installments for the principal loan, interest, and other fees as outlined on the Bank’s website and in the Personal Loan (KTA) application, in accordance with the applicable installment payment schedule, until the entire Personal Loan (KTA) is paid off by the Customer to the Bank. The Customer understands that detailed information with regard to the monthly installments and payment schedule for the Personal Loan (KTA) can be found in the Credit Approval, which will be sent by the Bank after the Personal Loan (KTA) application is approved.
    8. The Customer understands, acknowledges, and agrees that:

    13.1 -The interest on the Personal Loan (KTA) is calculated daily based on an annual interest rate divided by 360 (three hundred sixty) days, and interest will be calculated every day until the Customer has paid off all outstanding obligations. 

    13.2 -The installment composition consists of the repayment of the principal loan, interest, and any other fees as specified on the Bank's website and in the Credit Approval application. 

    13.3 -The composition of the repayment installments for the loan principal and interest is not fixed and may change every month. 

    13.4-The interest calculation may change depending on the time and amount of the Personal Loan (KTA) principal repayments made by the Customer. 

    13.5 -The interest calculation begins from the date the Personal Loan (KTA) is approved until the loan term expires. 

    1. The Customer understands, acknowledges, and agrees that the Bank has the full right to approve or reject the Customer's Personal Loan (KTA) application by notifying the Customer in accordance with applicable laws and regulations.
    2. The Customer agrees to provide a photocopy of his/her Taxpayer Identification Number (NPWP) as part of the documentation if the total loan/credit of the Customer with the Bank reaches a certain amount, in accordance with the applicable legal provisions.

    F. INSTALLMENT PAYMENTS

    F.1. Installment Payments 

    The amount of the Personal Loan (KTA) monthly installment that the Customer is required to pay is stated in the Credit Approval. The monthly installment paid by the Customer to the Bank includes the repayment of the loan principal (debt), interest, and fees (if any). 

    For the Personal Loan (KTA) which has been approved by the Bank, the Customer is required to make monthly payments in accordance with the terms and conditions outlined in the Credit Approval, the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan, and the Personal Loan (KTA) payment guide (which can be accessed on the Bank’s website or the Credit Approval sent to the Customer). 

    Each month, the Customer is required to pay the full installment, late payment fees (if any), and other fees (if any) for the Customer’s Personal Loan (KTA) in accordance with the applicable payment schedule until the entire Personal Loan (KTA) is fully paid off by the Customer to the Bank, as stated in the Credit Approval. 

    Payment of the Personal Loan (KTA) installment through the payment networks designated by the Bank must be made with due observance of the sufficient time for the funds to be received on time by the Bank. The Bank recommends that the Customer make the payment at least 3 business days before the Payment Due Date. 

    F.2. Payment Hierarchy 

    Each installment payment will first be applied to pay: i) fees/penalties; ii) interest; iii) principal, or as otherwise adjusted according to the Bank’s applicable policy. 

    F.3. Autodebit Instruction 

    The Customer can use the Autodebit instruction feature for Personal Loan (KTA) installment payments by authorizing the Bank to debit savings or current account with the Bank registered by the Customer. For digibank Personal Loan, the Autodebit feature will automatically be activated and become the primary payment method, with debiting to the Customer's digibank Savings account. 

    The Bank will continue to debit until the monthly installment is fully paid. If the debit account does not have sufficient funds, the Bank has the right to transfer and/or debit, and use the available funds from that account to pay part of the installment. 

    The Bank will not separately notify the Customer with regard to Autodebit transactions to be processed, and it is the Customer's responsibility to ensure sufficient funds are available in the debit account on the Payment Due Date. 

    The Bank will inform the Customer if the Autodebit process fails or is only partially successful and may charge a Autodebit Rejection Fee if the funds in the debit account are insufficient to cover the full amount of the Autodebit instruction and the Bank will attempt to process the Autodebit again until the monthly installment is fully paid. 

    The Customer will be charged with a late payment fee if the Personal Loan (KTA) installment is not paid in full as stated in the Credit Approval. The consequences of late payment may have a negative impact on the Customer’s credit collectability according to the regulations of Bank Indonesia (BI) and/or the Financial Services Authority (OJK), which may affect any current or future credit applications with the Bank or other financial institutions. In addition, the Bank will proceed with debt collection for overdue Customer’s Personal Loan (KTA) payments, including using third-party collection services or taking legal action if necessary. 

    It is strongly recommended that the Customers using the Autodebit feature for Personal Loan (KTA) installment payments avoid making payments using other methods to prevent the possibility of double payments. 

    G. INTEREST, FEES, PENALTIES, TAXES, AND INSURANCE 

    G.1. INTEREST 

    The interest on the Personal Loan (KTA) is calculated based on the interest formula, which depends on the components of loan principal (debt), the annual interest rate, and the installment period (in months). 

    The composition of the repayment of the loan principal (debt) and interest is not fixed and may change every month. 

    For further information on the interest rate calculation illustration, you can refer to the following website: http://go.dbs.com/id-ilu-dpl

    G.2. FEES 

    The Customer is responsible for the following fees: 

    - Late Payment Fee 

    The Bank will charge a late payment fee if the payment is not received by the Bank on the Due Date or if the payment made by the Customer is less than the required amount. 

    - Provision/Administration Fee, Transfer Fee, Service Fee, and Annual Fee 

    The Customer is required to pay all fees related to the disbursement of the Personal Loan (KTA) and all other fees (if any). These fees will be billed and directly deducted from the amount of the Personal Loan (KTA) disbursed by the Bank. 

    The amount of the Personal Loan (KTA) disbursed is the amount of Personal Loan (KTA) approved by the Bank, minus the provision/administration fee (if any), transfer fees (if any), first-year fees (if any), and other fees (if any) from the amount of Personal Loan (KTA) approved by the Bank. 

    The Bank will charge a monthly service fee to the Customer. The Customer is required to include the Service Fee in the monthly installment payment. The Service Fee applies only to Personal Loan (KTA) applications approved since June 2, 2021. 

    The Bank will charge a second-year fee and onwards, if any) to the Customer. The Customer is required to include the second-year fee and/or onwards in the installment payments in the 13th (thirteenth) month (and/or 25th (twenty fifth) month) and onwards. If the Customer delays the final payment in the 12th or 24th month, the second-year fee and/or onwards will be billed along with the late payment fee. 

    - Cancellation Fee 

    The cancellation fee is in accordance with the provisions as stated on the Bank's website, and other fees (if any) will be charged to the Customer if a cancellation occurs as outlined in section H of these Terms and Conditions of the DBS Personal Loan and digibank Personal Loan. 

    - Early Settlement Fee 

    The Customers who pay off their Personal Loan (KTA) early will incur an early settlement fee, in accordance with the provisions as outlined on the Bank's website, plus the revolving interest charges up to the nearest Payment Due Date, late payment fees (if any), transfer fees (if any), and annual fees (if any). 

    - Stamp Duty 

    Stamp duty is a tax levied on Personal Loan (KTA) documents of a civil in nature, such as the Personal Loan (KTA) Application, Credit Approval, proof of payment with a certain amount, and Personal Loan (KTA) settlement letters. The stamp duty is the responsibility of the Customer, and the Bank may charge this fee to the Customer. 

    - Autodebit Rejection Fee 

    This fee is charged to the Customer if his/her Autodebit payment is rejected. 

    - Overpayment Refund Fee 

    The Bank will charge an administration fee to the Customer for processing an overpayment refund request. The Customer may file a claim for the overpayment after considering the administration fee by contacting DBSI Customer Centre. 

    - Overpayment Administration Fee 

    The Bank will charge an administration fee each month to the Customer if the Personal Loan (KTA) is closed and there is an overpayment. 

    The Customer can obtain further information with regard to the fees related to the Personal Loan (KTA) by contacting the DBSI Customer Centre and/or by visiting the Bank’s website. 

    The Customer may submit a request for fee removal to the Bank by providing supporting documents (if required). The Bank will review the request, and if, according to the Bank’s records, the fee should not have been charged to the Customer, the Bank will credit the fee back to the Customer's loan account. 

    G.3. INSURANCE 

    In connection with the Personal Loan (KTA), the Customer may choose to participate in an insurance protection product issued by an insurance company in cooperation with the Bank. In this case, the Bank acts solely as an agent selling the insurance protection product. The insurance protection product is not a Bank product, and the Bank is not responsible for any and all claims and risks arising from the management of this product portfolio. This insurance protection product is not guaranteed by the Bank or its affiliates, nor by any Government of the Republic of Indonesia guarantee program. The Bank is not responsible for any policies and/or insurance certificates issued by the insurance company in cooperation with the Bank. 

    The Customer who participates in this insurance protection product will be charged an insurance premium. The Bank will deduct the insurance premium from the amount of the Personal Loan (KTA) disbursed to the Customer. 

    H. CANCELLATION

    H.1. DBS Personal Loan 

    The Customer may apply for cancellation of the DBS Personal Loan, including if the Customer disagrees with the adjusted amount of the DBS Personal Loan approved by the Bank. The Customer can submit a written notice to the Bank or contact the DBSI Customer Centre, under the following conditions:

    (a) The cancellation of the DBS Personal Loan is applied for in less than 14 (fourteen) calendar days as of the date the DBS Personal Loan was approved by the Bank, and the amount of the DBS Personal Loan approved by the Bank is less than 50% (fifty percent) of the amount originally requested by the Customer; or 

    (b) The cancellation of the DBS Personal Loan is applied for in less than 14 (fourteen) calendar days as of the date the DBS Personal Loan was approved by the Bank, and there is a change in the interest rate of the loan as requested by the Customer compared to the rate approved by the Bank as stated in the Credit Approval; in which case, the cancellation of the DBS Personal Loan will not incur any fees. 

    Outside the above-mentioned conditions, the Customer will be charged a cancellation fee as specified in section G.2 of the Terms and Conditions for the DBS Personal Loan and digibank Personal Loan. 

    The Bank will process the cancellation of the DBS Personal Loan once the Customer has returned to the Bank the funds which has been transferred to the Disbursement Account, along with cancellation fees (if any), interest charges (if any), and late payment fees (if any). 

    H.2. digibank Personal Loan 

    The Customer cannot apply for cancellation of the digibank Personal Loan. 

    I. EARLY REPAYMENTSETTLEMENT

    The Customer may repay the entire outstanding balance of the Personal Loan (KTA) earlier than the term approved by the Bank, by submitting a written notice to the Bank or by contacting the DBSI Customer Centre no later than 3 (three) business days before the Payment Due Date of the next installment. 

    The Customer will be charged an early repayment settlement fee as mentioned in section G.2 of the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan. 

    The Customer must pay the amount owed as informed by the Bank. The Bank will close the Personal Loan (KTA) once the full outstanding amount of Personal Loan (KTA) the Customer has been repaid. 

    J. REPAYMENT ACCORDING TO THE PERIOD 

    The amount owed that is billed in the last installment of the Personal Loan (KTA) term may differ from the monthly installments paid by the Customer, due to any unpaid charges, interest, and other fees (if any). 

    K. DEFAULT

    Without prejudice to the other provisions in these Terms and Conditions of the DBS Personal Loan and the digibank Personal Loan (including but not limited to, the Bank's right to review and demand immediate payment of any outstanding Personal Loan (KTA) if requested), if one or more of the following events occurs (hereinafter referred to as the "Event of Default"), the Bank has the right to terminate and demand full payment and settlement from the Customer for any outstanding amounts and Customer’s obligations, including the loan principal, interest, provision of penalties (if any), and other costs that have arisen and/or will arise based on the following matters: 

    - The Customer is involved in criminal offense or is undergoing legal proceedings or is listed on the national blacklist of Bank Indonesia. 

    - The Customer fails or breaches the obligation to perform his/her obligations under the other credit agreements and other agreements still in force, either entered into with the Bank or with the third parties. 

    - The Customer discontinues his/her business activities and/or no longer has a livelihood. 

    - Any circumstance or change, or series of circumstances or changes, in the sole opinion and assessment of the Bank, may significantly impact or harm the Customer's business activities or financial condition, or adversely affect the Customer's ability to repay what is owed to the Bank under the Personal Loan (KTA). 

    - The Customer is put under custody. 

    - If the Customer no longer resides in Indonesia or in the city where the Bank has a branch, and the Customer does not inform this matter to the Bank. 

    - If according to the Bank, the Customer has failed to comply with or breached the Terms and Conditions of DBS Personal Loan and digibank Personal Loan. 

    - Any representation or warranty made and/or provided by the Customer to the Bank based on the Personal Loan (KTA) Application and/or the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan is found to be invalid and/or incorrect and/or incomplete. 

    - If the Customer's assets, either partially or entirely, are seized by the relevant authorities, including the court. 

    The legal actions mentioned above do not limit or affect the Bank's rights to take any other legal actions that the Bank may lawfully pursue to demand payment and full settlement of all amounts owed under the Personal Loan (KTA) from the Customer.

    L. CHANGE OF INFORMATION 

    The Customer represents and warrants that all information provided is complete and accurate and the Customer is not concealing any material facts. 

    The Customer is required to promptly notify the Bank of any changes to the Customer data, including changes to the Customer’s residential address, contact phone number, and other particulars with regard to the Customer’s conditions. 

    If the Customer no longer resides in Indonesia and/or changes his/her nationality, the Customer is required to notify the Bank in writing by submitting a letter to the Bank's correspondence address or by contacting the DBSI Customer Centre. 

    The Customer acknowledges that all information in the Personal Loan (KTA) Application is true and represents the Customer's most recent data. The Bank has the right to update the Customer's data recorded in the Bank's system using the most recent information received from the Customer, including the data obtained from the Personal Loan (KTA) Application. 

    The Customer shall be entitled to complete, update, revise any errors and/or inaccuracies in data, gain access to and obtain copies of the Customer’s data, terminate the processing, delete and/or destroy the Customer’s data, revoke any consent that has been given, file objections to decision-making that is only based on automatic processing that has legal consequences or significant impacts and delay or limit data processing proportionally through the DBSI Customer Center. The Customer understands that the above rights must be exercised in accordance with the provisions of the statutory laws and the above rights shall not preclude other rights of the Customer as stipulated in the prevailing laws and regulations.  

    Nasabah berhak melengkapi, memperbarui, memperbaiki kesalahan dan/atau ketidakakuratan data, mendapatkan akses dan memperoleh salinan data pribadi Nasabah, mengakhiri pemrosesan, menghapus dan/atau memusnahkan data pribadi Nasabah, menarik kembali persetujuan yang telah diberikan, mengajukan keberatan atas tindakan pengambilan keputusan yang hanya didasarkan pada pemrosesan otomatis yang menimbulkan akibat hukum atau berdampak signifikan serta menunda atau membatasi pemrosesan data secara proporsional melalui DBSI Customer Center. Nasabah memahami bahwa pelaksanaan hak tersebut di atas harus sesuai dengan ketentuan hukum yang berlaku dan hak tersebut di atas tidak membatasi hak-hak lain Nasabah sebagaimana diatur dalam peraturan perundang-undangan yang berlaku.

    M. RIGHTS AND OBLIGATIONS OF THE BANK

    M.1. CHANGES 

    The Bank has the right to make changes at any time (including but not limited to changes in interest rates, fees, and penalties that must be paid) and/or to add new terms and conditions or requirements to the Personal Loan (KTA) Application and/or the Terms and Conditions of DBS Personal Loan and digibank Personal Loan. The Bank will notify the Customer of any such changes in accordance with prevailing laws and regulations. Such changes will take effect on the effective date specified in the intended notification. 

    The Bank is obligated to notify the Customer of any changes to the Personal Loan (KTA) Application and/or the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan through a letter or other means, in accordance with the applicable legal requirements. 

    M.2. REQUEST FOR INFORMATION 

    The Bank has the right to request from the Customer any information and documents from time to time, including those that may be required by law and/or agreements with relevant authorities (domestic or foreign) with regard to the Customer's tax status. 

    M.3. APPROVAL TO DISCLOSE AND REVEAL INFORMATION 

    The Bank and its officers or representatives may disclose information related to the Customer, the Customer's account, and the Customer's Personal Loan (KTA), including but not limited to the Customer's personal data such as name, phone number and/or home/email address, transaction details, credit status, and/or other information that constitutes personal identification stated in the Personal Loan (KTA) Application or data available in the Bank's system ("Information") to the parties authorized or instructed under the prevailing laws and regulations in Indonesia or by court order. The Bank and its officers or representatives may also disclose Information to the following third parties: 

    • Bank Indonesia (BI), the Financial Services Authority (OJK), and other relevant authorities; 
    • The parties related to the Bank, such as the head office, branch offices, affiliates, and agencies; 
    • Any parties involved in any assignment or offered assignment; 
    • Financial institutions providing personal loan facilities, information management centers established by OJK, credit bureaus, banks, information processing service providers, and/or identity verification providers, and/or any party aiming to enforce or protect the Bank’s rights or interests in relation to the Personal Loan (KTA); 
    • Any party involved in insolvency processes (including bankruptcy) related to the Customer; 
    • Government agencies or law enforcement if needed or ordered in connection with the Personal Loan (KTA); 
    • Service providers appointed by the Bank in relation to the Bank's business activities (including surveys, document delivery, Personal Loan (KTA) payment collection, and data management); and 
    • Other parties with business and/or legal relations with the Bank, including but not limited to for commercial purposes such as offering products/services or other purposes by third parties establishing cooperation with the Bank as agreed by the Customer, in accordance with prevailing laws and regulations. 

    In sub-paragraph (c) above, "assignment" includes any transfer or assignment of any Bank rights or obligations, participation, credit transfer, or other risks (in whole or in part) or benefits (in whole or in part) in any form, and any other contractual relationship related to the Personal Loan (KTA). 

    If there are overdue Personal Loan (KTA) obligations, the Bank also has the right to: 

    - Contact third parties related to the Customer, including but not limited to close family members, household members, and/or colleagues of the Customer; 

    - Disclose Information to third parties appointed by the Bank in connection with monitoring and executing the Personal Loan (KTA) payment collections. 

    The Bank is committed to maintaining the confidentiality and security of the Customer's personal data and/or information. 

    The Customer understands the purpose and consequences of disclosing and/or disseminating the Customer’s personal Information to the parties outside the legal entity of the Bank as provided for in the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan and agrees not to involve the Bank in any consequences arising from the disclosure and/or dissemination of the Customer's personal information to any third party. 

    M.4. ADDITIONAL LOAN 

    Based on the Bank's considerations, the Bank may offer an additional amount of the Personal Loan (KTA) to the Customer under the following terms and conditions, among others: the Customer is not in default, as referred to in section K. Default of the Terms and Conditions of the DBS Personal Loan and digibank Personal Loan, and meets the requirements for additional loan set by the Bank. The additional amount of Personal Loan (KTA) will be processed after the Bank receives the Customer’s confirmation of approval, which may be provided by the Customer either in writing or through other media as determined by the Bank’s policy from time to time. 

    During the process of applying for the additional loan, the Customer is still required to pay the Personal Loan (KTA) as usual (with the installment amount and payment due date according to the terms of the initial Credit Approval) until the additional loan are approved and a new loan number is opened. 

    The loan amount and tenor will be automatically updated after the additional loan application process is completed. Upon the approval to the additional Personal Loan (KTA) by the Bank, the Customer will receive the updated terms and conditions of the Personal Loan (KTA) through a new Credit Approval. 

    The additional loan will be transferred to the Disbursement Account or other account registered by the Customer when applying for the additional Personal Loan (KTA). 

    The disbursed additional loan may vary from what was initially informed if there are outstanding bills/interest/ other fees (if any) due during the application process. 

    The Customer understands, acknowledges, and agrees that the Bank has the full right to approve or reject the application for additional Personal Loan and will notify the Customer in accordance with applicable legal provisions. 

    M.5. USE OF INFORMATION 

    The Bank has the right to enter the Customer's personal data into the Bank's internal marketing list, as well as to provide it to third parties who are business partners and have been bound by the Bank as providers of products/ services to be offered to the Customer in accordance with the agreement approved by the Customer when submitting the Personal Loan (KTA) application. 

    The Customer understands and agrees that the services and/or products provided and/or delivered are entirely the responsibility of that party as the provider of those services and/or products. 

    If the Customer is not willing to receive product/service offers that will be offered to the Customer by the Bank and/or third parties who are business partners and are bound to the Bank, then the Customer can contact the Bank via the DBSI Customer Center to request exceptions and provisions above. 

    M.6. SET-OFF 

    To further guarantee orderly repayment of any amount payable by the Customer to the Bank, including the principal debts, interest, and fees (if any) in connection with the DBS Personal Loan (KTA), the Customer hereby grants mandates to the Bank to disburse all of the Customer's assets in any forms whatsoever that are administered by the Bank or to charge other accounts of the Customer that are also administered by the Bank, for the purposes of paying off the Customer’s debts to the Bank. 

    These mandates shall be irrevocable and cannot be terminated for any reasons whatsoever to the extent that the debts of the Customer to the Bank have not been fully settled and constitute an important and inseparable part of the Terms and Conditions of this Personal Loan (KTA). The Customer hereby agrees to waive all regulations contained in the law including articles 18131, 18142, and 1816a of the Indonesian Civil Code and other provisions that cause a termination of a mandate. 

    1A mandate is terminated:  

    - Due to revocation of the mandate granted to the mandatory;  

    - Due to a notice of termination of the mandate by the mandatory;  

    - Due to the death, the guardianship, the bankruptcy or apparent insolvency, either of the mandator or the mandatory;  

    - Due to the marriage of the woman who has granted or received the mandate.  

    2The mandator may revoke the authority if he/she deems fit, and if there are grounds therefor, he/she may require the mandatary to return the mandate.  

    3The appointment of a new mandatory for the performance of the same function, is cause the revocation of the appointment of the first mandatory, effective as of the date of notification of the appointment to the latter mentioned.  

    M.7. TRANSFER OF RIGHTS TO BILLS 

    The Bank has the right to transfer to any third party all of its rights related to the bills of the Personal Loan (KTA).

    N. RISKS

    The Customer will incur a late payment fee if the installment payment is not received by the Bank on the Payment Due Date as specified in the Credit Approval, or if the Customer makes a payment that is less than the required payment amount. 

    The consequences of late payment may have a negative impact on the Customer's credit collectibility status in accordance with Bank Indonesia regulations, which can affect the application for credit facilities currently or potentially submitted to the Bank, other banks, or other financial institutions. 

    The Bank classifies the credit collectibility status of the Personal Loan (KTA) based on the payment pattern made by the Customer. The payments received by the Bank on or before the Payment Due Date will be classified as a Personal Loan (KTA) with a good credit collectibility status, which will be further classified by the Bank based on the number of days the payment is overdue, as follows: 

    - Under Special Mention (overdue 1 – 90 calendar days), 

    - Substandard (overdue 91 – 120 calendar days), 

    - Doubtful (overdue 121 – 180 calendar days), and 

    - Loss (overdue more than 180 calendar days). 

    In addition, the Bank will also pursue collection efforts on overdue Personal Loans from the Customer, including using the third-party services for collection or taking legal action if necessary. 

    O. TERMINATION OF PERSONAL LOAN (KTA)

    If the Personal Loan (KTA) expires or terminates for any reason, the Bank is not obligated to provide further Personal Loans (KTA) to the Customer. All debts owed by the Customer to the Bank, along with the principal, interest, and any other charges incurred, may be immediately and simultaneously collected by the Bank and must be paid in full by the Customer. 

    The Bank and the Customer agree to waive the provisions of Article 1266 of the Indonesian Civil Code, as long as they require a court ruling/verdict for the termination of the Personal Loan (KTA). 

    By making the final payment or settling the last installment and other charges (if any), and once the funds have been received by the Bank, the Personal Loan (KTA) is considered terminated. After the termination of the Personal Loan, the Bank will not send a letter of confirmation of full repayment and termination of the Personal Loan (KTA) unless requested by the Customer. Such a confirmation letter will be sent to the Customer's registered email address or correspondence address recorded in the Bank's system. 

    P. WAIVER

    Failure or delay by the Bank to exercise rights, authorities or privileges specifically based on these terms and conditions does not constitute a waiver by the Bank of those rights, authority, and privileges and the exercise of one or every part of the rights, authorities and privileges in accordance with these terms and conditions, will not stop the continuation of the exercise of such rights or authority or the exercise of other rights, authorities or privileges. 

    Q. LIMITATION OF LIABILITY

    The Customer hereby agrees to indemnify and hold the Bank harmless against all claims, demands, losses, damages, costs that may arise and be experienced and borne by the Bank in connection with this Personal Loan (KTA) in any case currently and in the future as long as it is not caused by the Bank's obvious and deliberate error or negligence. The Bank hereby agrees to indemnify and hold the Customer harmless against all claims, demands, losses, damages, costs that may arise and be experienced and borne by the Customer in connection with this Personal Loan (KTA) in any case currently and in the future as long as it is not caused by the Customer's obvious and deliberate error or negligence. 

    R. FORCE MAJEURE

    The Bank may suspend the use of any or all banking services related to the Personal Loan (KTA) as a result of force majeure, namely any condition caused by causes beyond the Bank's control such as business conditions, computer damage, disruption of communication systems or sabotage, or for any other reason, including natural disasters, which have a wide impact resulting in Customer data, banking services related to the Personal Loan (KTA) being unavailable or access to data, banking services related to the Personal Loan (KTA) not being found or if the implementation of banking services related to the the Personal Loan (KTA) will cause a violation of prevailing  laws and regulations. 

    The Bank shall not be liable for any action taken in order to comply with economic sanctions or to comply with government regulations, whether in the form of laws or regulations or requests or decisions from governments, regulators or similar authorities, or agreements entered into between the Bank and government authorities or between two or more government authorities (whether laws and regulations issued by domestic or foreign governments and, in such cases, the Bank, branches, subsidiaries or other affiliates of the Bank shall not be liable). 

    S. HANDLING AND RESOLUTION OF CUSTOMER COMPLAINTS

    The Bank shall be obliged to receive and record every complaint, both verbal and written, from the Customer. If a complaint is submitted verbally, the complaint will be resolved within 5 (five) business days. If the Bank requires supporting documents, the Bank will ask the Customer to submit a written complaint accompanied by the necessary supporting documents. 

    If the complaint is submitted in writing, the complaint shall be resolved no later than 20 (twenty) business days after all supporting documents are fully received by the Bank and such term may be extended for a maximum of 20 (twenty) business days from that time.  

    The extension of the term will be communicated by the Bank in writing to the Customer. 

    The supporting documents that must be submitted by the Customer are as follows: 

    - Identity of the Customer and/or the Customer Representative; 

    - Power of Attorney (if the Customer is represented by another party/person}; 

    - Type and date of transaction; and 

    - Problem complained about. 

    The Bank has the right to request supporting documents other than the supporting documents that have been submitted above to the Customer, if necessary. 

    However, the Bank may refuse to handle a complaint if there are several conditions such as the following: 

    - The Customer is unable to complete the document requirements within the specified period of time; 

    - The previous complaint has been resolved by the Bank in accordance with applicable provisions and regulations; 

    - The complaint is not related to material, reasonable, and direct losses and/or potential losses as stated in the Terms and Conditions of DBS Personal Loan and digibank Personal Loan; 

    - The complaint is not related to transactions in the Personal Loan (KTA). 

    T. AUTHORIZATION AND MANDATES

    T.1. AUTHORIZATION BY TELEPHONE, TELEX, FACSIMILE, OR OTHER MEDIA 

    The Customer authorizes the Bank to rely on and act in accordance with any notification, instruction, request, or other communication that may be given via telephone, telex, facsimile or other media (which can be reconfirmed by the Bank) by the Customer or on behalf of the Customer and the Bank is entitled to treat such instructions as instructions which is fully authorized by the Customer and the Bank has the right to take steps in accordance with the instructions as deemed appropriate by the Bank. In accordance with the terms of authorization in this section, the Bank is not obligated to accept and act on such instructions, which include, but are not limited to, the following matters: 

    - Changes to the mandate (payment order), 

    - Changes to the authorized signatory, 

    - Authorization to other persons/entities, 

    - Closing accounts and transferring balances in any manner whatsoever, 

    - Changes to the Customer’s data, 

    - Changes to the Personal Loan (KTA) data, 

    In connection with instructions via telephone, the Customer hereby authorizes the Bank: 

    - To record, monitor, and trace every telephone conversation between the Customer and the Bank in the Bank's internal interests. 

    - To verify the authenticity of the caller by asking the caller to provide information with regard to the Customer's Personal Loan (KTA) so that the Bank can determine the authenticity of the caller to obtain information on the relevant Personal Loan (KTA) and to provide instructions to the Bank. 

    - To make an oral agreement as an official record that has the same status as a written agreement. 

    With due observance of the Bank's actions according to the terms of authorization in this section, the Customer hereby agrees to indemnify the Bank for any losses incurred as a result of claims/lawsuits, or legal actions by any party arising from such instructions. These terms of authorization will remain fully valid with full effect unless and until the Bank receives and agrees in writing to termination notification from the Customer. 

    T.2. MANDATES 

    To further guarantee orderly repayment of any amount payable by the Customer to the Bank, including the principal debts, interest, provision, and other fees (if any) in connection with the Personal Loan (KTA), the Customer hereby grants irrevocable mandates to the Bank for any reasons whatsoever to act on behalf of the Customer to disburse all of the Customer's assets in any forms whatsoever that are administered by the Bank or to charge other accounts of the Customer that are also administered by the Bank, for the purposes of paying off the Customer’s debts to the Bank. 

    These mandates shall be irrevocable and cannot be terminated for any reasons whatsoever to the extent that the debts of the Customer to the Bank have not been fully settled and constitute an important and inseparable part of the Terms and Conditions of these DBS Personal Loan and digibank Personal Loan. The Customer hereby agrees to waive the provisions of articles 18131, 18142, and 1816a of the Indonesian Civil Code and other provisions that cause a termination of a mandate. 

    1A mandate is terminated: Due to revocation of the mandate granted to the mandatory; Due to a notice of termination of the mandate by the mandatory; Due to the death, the guardianship, the bankruptcy or apparent insolvency, either of the mandator or the mandatory; Due to the marriage of the woman who has granted or accepted the mandate.  

    2The mandator may revoke the authority if he/she deems fit, and if there are grounds therefor, he/she may require the mandatary to return the mandate.  

    3The appointment of a new mandatory for the performance of the same function, is cause the revocation of the appointment of the first mandatory, effective as of the date of notification of the appointment to the latter mentioned.  

    U. GOVERNING LAW AND DISPUTE RESOLUTION

    With regard to these Terms and Conditions of these DBS Personal Loan and digibank Personal Loan along with all the consequences and implementation thereof, the Customer and the Bank agree to comply with the laws of the Republic of Indonesia. In the event of a dispute, the Customer and the Bank agree to resolve the same by deliberation or discussion leading to mutual consensus. If the Customer objects to the resolution of the complaint from the Bank, the Customer and/or the Customer's representative may submit an effort for resolution by: 

    - Facilitations provided by the Financial Services Authority (OJK) 

    - Outside the courts of law conducted through the Alternative Dispute Resolution Institutions listed in the List of Alternative Dispute Resolution Institutions determined by the Financial Services Authority; or 

    - Through a court of law namely through the South Jakarta Court of First Instance in Jakarta or other relevant courts of law at the branch office where the DBS Personal Loan/digibank Personal Loan is issued. 

    The submission of settlement efforts shall refer to the provisions of the applicable regulations including the provisions of the prevailing laws and regulations. 

    V. CORRESPONDENCE

    All forms of correspondence between the Customer and the Bank can be addressed to the address as stated below: 

    DBSI Customer Center,  

    DBS Bank Tower, B1 Floor  

    Ciputra World 1 

    Jalan Prof. Dr. Satrio Kav. 3-5  

    Jakarta 12940, Indonesia 

    Tel. 0804 1500 327  

    Email: [email protected] 

    The Terms and Conditions of DBS Personal Loan and digibank Personal Loan shall constitute an integral and inseparable part of the entire standard agreement, which includes the Personal Loan (KTA) Application, Credit Approval, as well as the information and requirements related to the Personal Loan (KTA), and have been adjusted in accordance with prevailing laws and regulations, including the provisions of the Financial Services Authority (OJK). 

    PT Bank DBS Indonesia is licensed and supervised by OJK.