TERMS AND CONDITIONS
1. The Chinabank Cash Installment program is a credit card facility wherein Principal Chinabank Credit Cardholders (Cardholder) of good credit standing can convert a percentage of their available credit limit into cash and pay it in fixed monthly installments. ALL Chinabank credit cards may be used to avail of the Cash Installment program EXCEPT for the following:
- Chinabank Destinations World Dollar Mastercard
2. The Cash Installment program may be availed through the following:
- Telesales (8AM to 5PM daily): (02) 5322-9175
- Customer Contact Center (24/7 Hotline): (02) 888-55-888
- Domestic Toll Free (PLDT): 1-800-1888-5888
- Email: online@chinabank.ph
- Viber (8:30AM to 5:30PM): +63 917 8814 263 (Viber messages only)
Chinabank may receive client inquiries, concerns or complaints through any of the available touchpoints mentioned above. Chinabank shall then conduct a comprehensive investigation in accordance with its established procedures and shall notify the Cardholder of its findings.
3. Available payment terms are as follows:
- 3 months
- 6 months
- 9 months
- 12 months
- 24 months
- 36 months
- 48 months
- 60 months
4. The minimum Cash Installment amount is ₱10,000.00 per transaction. The applicable monthly add-on rate shall be determined by Chinabank at its sole discretion and may vary depending on the applicable offer or promotion.
5. For promotional offers implemented for a specific period, the applicable promo rate and the specific terms and conditions shall prevail only to the extent inconsistent with these Terms and Conditions.
6. The approved Cash Installment amount, including the applicable interest, must be within the Cardholder’s available credit limit at the time of application. In addition, the approved Cash Installment amount must not exceed 85% of the Cardholder’s available credit limit.
7. No processing fee shall be charged to the Cardholder for every Cash Installment application.
8. Approved Cash Installment applications shall not earn rewards points.
9. Cardholders are responsible for checking the status of their Cash Installment application by contacting Chinabank. A Cardholder may request cancellation of a Cash Installment application no later than three (3) business days from the submission of the application.
10. Chinabank retains its absolute right to approve or decline Cash Installment applications. Chinabank has no obligation to notify the Cardholder of the reason for the denial of an application.
11. The proceeds of the Cash Installment application will be credited to a valid bank account designated by the Cardholder, who confirms that the account belongs to the Cardholder. In processing the Cash Installment application, Chinabank will solely rely on the bank account details provided by the Cardholder.
12. Proceeds shall be credited no later than five (5) banking days from the approval of the Cash Installment application.
13. Chinabank shall notify the Cardholder via SMS upon approval of the Cash Installment application, and upon successful crediting of the proceeds to the Cardholder’s designated bank account.
14. The approved Cash Installment amount shall be posted in equal and successive monthly installments and shall commence on the Cardholder’s next billing date until the Cash Installment amount is paid in full.
15. Approved Cash Installment applications can no longer be reversed or cancelled.
16. In the event of pre-termination or cancellation of the Cash Installment prior to the completion of the payment term, a pre-termination fee equivalent to 5% of the remaining unpaid installment balance or ₱500, whichever is higher, shall be charged to the Cardholder. The outstanding unbilled portion of the principal amount plus the applicable pre-termination fee shall be billed as a regular straight transaction and posted in the next billing statement.
17. The Cardholder may avail of another Cash Installment even if there is an existing approved Cash Installment or an ongoing repayment under any other Chinabank installment program, provided that the total amount of the new Cash Installment, including the applicable interest, is within the Cardholder’s available credit limit at the time of application.
18. The card must be activated, current, not past due or delinquent. Overlimit, past due, and accounts with collection issues are not eligible for Cash Installment.
19. Cardholders acknowledge their liability to Chinabank for every approved Cash Installment application, which shall form part of the Cardholder’s obligation to Chinabank.
20. Chinabank officers and rank-and-file employees are eligible to avail of the installment programs. However, related interests of Chinabank officers are not eligible. Chinabank directors, stockholders, and their related interests are also not eligible.
21. The use of the Chinabank credit card in connection with this Cash Installment program is subject to the Terms and Conditions governing the issuance and use of Chinabank credit cards.
22. By availing of the Cash Installment program, the Cardholder confirms having read, understood, and agreed to these Cash Installment program Terms and Conditions.
You may view the existing Terms and Conditions here.
*Chinabank is regulated by the Bangko Sentral ng Pilipinas (BSP). Details of the BSP’s Consumer Assistance Mechanism are provided in www.bsp.gov.ph/.