Key Fact Statements
International Money Transfer
You can utilize your Botim Money wallet service to send funds globally to over 200 countries and regions, benefiting from competitive rates and minimal transfer fees. Choose from a variety of options, including bank transfers, credit to Wallet, and remittance to UPI to execute your international money transfers.
Section | Details |
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Key Features |
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Eligibility |
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Wallet Currency |
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Fees |
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Limits |
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Collection |
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Load Options |
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WARNING -Important Information |
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Additional Information:
- Our General Terms (including any associated documents) and Privacy Policy must be read and adhered to in conjunction with this Key Facts Statement.
- We reserve the absolute right to amend, delete, or cancel any terms and conditions within the General Terms and this Key Facts Statement at any time, with a minimum notice period of sixty (60) calendar days.
- All information provided by us is intended solely to aid your informed decision-making and should not be construed as a recommendation or specific advice.
- You are required to submit all necessary documents, including your Emirates ID, in a format that meets our requirements, to set up your Botim Money wallet and complete the International Transfer request.
- It is your responsibility to ensure that your contact details, including your mobile phone number, are up-to-date and to promptly notify us of any changes to the information previously provided.
- For any inquiries related to this Key Facts Statement, you can contact us at customerservice@botim.me or by calling 6005 26846.
WPS Salary Cards
The card is connected to your Botim Money wallet account. The card can be used to purchase goods and services both online and in person, wherever Mastercard is accepted.
Section | Details |
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Key features | • Standard • AED • Internationally Accepted • Supports ATM, POS & ecom transactions • Google Pay supported. |
Eligibility | You must be 18 years of age or over, and be a resident or citizen of the United Arab Emirates |
Card Currency | AED |
Minimum balance | No Minimum balance requirement |
Maximum value of any single transaction using card | AED 10,000 |
Maximum value of any single transaction using the contactless payment without PIN | AED 500 |
Maximum daily spend using card | AED 25,000 |
Maximum withdrawal amount using card | AED 3,000 |
Initial maximum wallet limit* | AED 25,000 |
Cash withdrawal | • ATMs accepting Mastercard (for physical card users) |
Top-Up options | You can load funds into your Botim Money wallet using one of the following payment options: • Salary transfers • Cash deposit through self-service kiosk • Fund in through prepaid and debit cards • Fund in to the VAM IBAN • AANI Fund in • P2P fund in |
We may, at our discretion, increase your wallet limit based on your transaction history and usage of the Services. If we do so, we will notify you via SMS and/or email. After an increase, we may reduce the limit in accordance with our internal policies or if we determine that you are not using the Services in line with the General Terms. However, we will never reduce the limit below the initial wallet limit specified above. |
Key Fees and Charges
Transactions | Pricing (AED) |
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Domestic charges | |
Domestic – ATM Cash withdrawal Fee | AED 2.10 |
Domestic – ATM Balance Inquiry Fee | AED 1.05 |
Domestic – ATM Decline Fee | AED 1.05 |
Domestic – POS & E-COM Decline Fee | AED 0.00 |
International charges | |
International – ATM Cash withdrawal | AED 15.75 |
Cross Border Cross Currency Fee (POS & ATM) | 2% |
International – ATM Balance Inquiry Fee | AED 5.25 |
International – ATM & POS Decline Fee | AED 5.25 |
Other Fee | |
Card Replacement Fee | AED 26.25 |
Statement Fee (hard copy) | AED 26.25 |
Mobile Statement Fee (soft copy) | AED 10.50 |
Dormant Fees -(inactive for 6 months) | AED 2.10. Per Month |
This Key Facts Statement offers indicative fees and charges only. For the complete and most up-to-date fees and charges, please refer to the website for the latest schedule of charges. |
Warning
- Your Botim Money card is not a credit card; therefore, you can only make purchases up to the amount available in your Botim Money account.
- You must always safeguard your Botim Money card credentials to prevent unauthorized use or fraudulent activities.
- If you make a purchase or withdrawal in a currency different from that of your Botim Money card, a foreign transaction fee, based on the prevailing currency conversion rate, will apply at the time of the transaction. Additionally, a merchant transaction fee, determined by the merchant’s POS service provider, may also apply.
- We may suspend or cancel your access to your Botim Money card if your conduct is deemed unsatisfactory or in violation of the Central Bank of the UAE’s regulations.
- We reserve the right to decline your application for a Botim Money card.
- Under the General Terms, we reserve the right to impose limits on the number or value of transactions you can make using your Botim Money card, in addition to the general limits applicable to your Botim Money card. The General Terms can be found here.
- Additional fees may be imposed by correspondent banks, financial institutions, or service providers involved in the transaction
- Providing incorrect or incomplete information may result in penalties, additional fees, or delays in processing your transactions
- Transaction completion times may vary due to additional scrutiny by correspondent banks, financial institutions, or service providers
Botim Money Wallet and Card
With the Botim Money wallet service, you can add, send, receive, and pay money to participating merchants and other Botim Money account holders from anywhere, at any time, using your mobile device.
Section | Details |
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Key features | • Make purchases in-store wherever the Botim Money QR code is accepted • Use for online transactions or payments. • Transfer funds to other Botim Money wallets. • Transfer funds via AANI and to IBANs • Top up or withdraw money using registered agents and ATMs |
Eligibility | You must be 18 years of age or over, and be a resident or citizen of the United Arab Emirates |
Wallet Currency | United Arab Dirhams (AED) |
Minimum balance | None |
Maximum value of any singletransaction using card | AED 25,000 |
Maximum value of any single transaction using the virtual card or contactless payment without PIN | AED 25,000 |
Maximum daily spend using card | AED 25,000 |
Maximum daily limit for wallet-to-wallet transaction | AED 25,000* Subject to your approved monthly transaction limits |
Maximum transaction limit to Aani account | AED 5,000 |
Maximum withdrawal amount to Bank Account | AED 25,000 |
Maximum withdrawal limit to Aani Account | AED 5,000 |
Initial maximum wallet limit* | AED 25,000 |
Top-Up options | You can load funds into your Botim Money wallet using one of the following payment options: • Debit, prepaid and credit cards • Bank account transfer • Apple Pay, Samsung Pay, Google Pay • Visiting select registered kiosks |
Your wallet limit can be raised automatically – based on your occupation, transaction history, and service usage, or you can request an increase manually at any time. If we do so, we will notify you via SMS and/or email. After an increase, we may reduce the limit in accordance with our internal policies or if we determine that you are not using the Services in line with the Terms and Conditions. However, we will never reduce the limit below the initial wallet limit specified above. |
Key Fees and Charges
Transactions | Pricing (AED) |
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Wallet top-up | • Bank Account Transfer: Free • Debit card: Free • Prepaid card: Free • Apple/Google/Samsung Pay: Free • Offline Kiosk cash deposit: Free |
Withdrawal | • Transfer to bank account: AED 2.00 • Transfer to Aani account: AED 0.50 |
This Key Facts Statement offers indicative fees and charges only. For the complete and most up-to-date fees and charges, please refer to the website for the latest schedule of charges. |
Warning
It is your responsibility to ensure your Botim Money wallet is sufficiently funded before use. Insufficient funds in your Botim Money wallet will result in a declined transaction.
You must always safeguard your Botim Money wallet and Botim Money card credentials to prevent unauthorized use or fraudulent activities.
We may suspend or cancel your access to your Botim Money wallet or Botim Money card if your conduct is deemed unsatisfactory or in violation of the Central Bank of the UAE’s regulations.
We reserve the right to decline your application for a Botim Money wallet or Botim Money card. • Under the Terms and Conditions, we reserve the right to impose limits on the number or value of transactions you can make using your Botim Money wallet or Botim Money card, in addition to the general limits applicable to your Botim Money wallet and Botim Money card. The Terms and Conditions can be found here.
If you make a purchase or withdrawal in a currency different from that of your Botim Money wallet or Botim Money card, a foreign transaction fee, based on the prevailing currency conversion rate, will apply at the time of the transaction. Additionally, a merchant transaction fee, determined by the merchant’s POS service provider, may also apply.
Multicurrency Card
The card is connected to your Botim Money wallet account. The card can be used to purchase goods and services both online and in person, wherever Mastercard is accepted.
Section | Details |
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Key features | • Standard and Metal card • AED and USD wallet • Internationally Accepted • Supports ATM, POS & ecom transactions • Apple Pay and Google Pay supported |
Eligibility | You must be 18 years of age or over, and be a resident or citizen of the United Arab Emirates |
Card Currency | AED & USD |
Minimum balance | No Minimum balance requirement |
Maximum value of any single transaction using card | AED 10,000 |
Maximum value of any single transaction using the virtual card or contactless payment without PIN | AED 500 |
Maximum daily spend using card | AED 25,000 |
Maximum withdrawal amount using card | AED 1,000 |
Initial maximum wallet limit* | AED 25,000 |
Cash withdrawal | • ATMs accepting Mastercard (for physical card users) |
Top-Up options | You can load funds into your Botim Money wallet using one of the following payment options: • Cash deposit through self-service kiosk • Fund in through prepaid and debit cards • Fund in to the VAM IBAN • AANI Fund in • P2P fund in |
We may, at our discretion, increase your wallet limit based on your transaction history and usage of the Services. If we do so, we will notify you via SMS and/or email. After an increase, we may reduce the limit in accordance with our internal policies or if we determine that you are not using the Services in line with the General Terms. However, we will never reduce the limit below the initial wallet limit specified above. |
Key Fees and Charges
Fees & Charges (VAT Included) | Total Amount in AED |
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Card Issuance – Virtual Card | Free |
Card Issuance – Physical Card and Delivery (Standard) – Paid | 35 |
Card Issuance – Physical Card and Delivery (Standard) – COD | 35 |
Card Replacement – Virtual Card | Free |
Card Replacement – Physical Card and Delivery (Standard)-Paid | 35 |
Card Replacement – Physical Card and Delivery (Standard) – COD | 35 |
Card Issuance – Physical Card and Delivery (Metal) | 285 |
Card Replacement – Physical Card and Delivery (Metal) | 285 |
Funds Load Fee | Free |
Domestic ATM Withdrawal Fee | 5.25 |
Domestic ATM Balance Inquiry Fee | 2.1 |
International ATM Withdrawal Fee (Outside the UAE) – AED wallet | 15.75 |
International Balance Enquiry Fee (Outside the UAE) – AED wallet | 5.25 |
ATM Cash withdrawal Decline Fee (Domestic) | 3.15 |
ATM Cash withdrawal Decline Fee (International) | 5.25 |
E-com /POS Decline Fees (Domestic) | 1.05 |
E-com/POS Decline Fees (International)*monthly one decline with no charges | 3.15 |
AFT/POI Transaction Fee | 2.25% on Txn Amount |
Cross Currency Fee (if customer is transacting in a currency apart from the list of Botim Money currencies) | 3.50% |
SMS Alerts | Free |
Card Closure Fee (if within card expiry date) | 26.25 |
This Key Facts Statement offers indicative fees and charges only. For the complete and most up-to-date fees and charges, please refer to the website for the latest schedule of charges.
Warning
- Your Botim Money card is not a credit card; therefore, you can only make purchases up to the amount available in your Botim Money account.
- You must always safeguard your Botim Money card credentials to prevent unauthorized use or fraudulent activities.
- If you make a purchase or withdrawal in a currency different from that of your Botim Money card, a foreign transaction fee, based on the prevailing currency conversion rate, will apply at the time of the transaction. Additionally, a merchant transaction fee, determined by the merchant’s POS service provider, may also apply.
- We may suspend or cancel your access to your Botim Money card if your conduct is deemed unsatisfactory or in violation of the Central Bank of the UAE’s regulations.
- We reserve the right to decline your application for a Botim Money card.
- Under the General Terms, we reserve the right to impose limits on the number or value of transactions you can make using your Botim Money card, in addition to the general limits applicable to your Botim Money card. The General Terms can be found here.
- Additional fees may be imposed by correspondent banks, financial institutions, or service providers involved in the transaction
- Providing incorrect or incomplete information may result in penalties, additional fees, or delays in processing your transactions
- Transaction completion times may vary due to additional scrutiny by correspondent banks, financial institutions, or service providers
- You must notify us immediately if you suspect any unauthorized transactions on your account to limit potential losses
Additional Information:
- Our General Terms (including any associated documents) and Privacy Policy (accessible here) must be read and adhered to in conjunction with this Key Facts Statement.
- We reserve the absolute right to amend, delete, or cancel any terms and conditions within the General Terms and this Key Facts Statement at any time, with a minimum notice period of sixty (60) calendar days.
- All information provided by us is intended solely to aid your informed decision-making and should not be construed as a recommendation or specific advice.
- You are required to submit all necessary documents, including your Emirates ID, in a format that meets our requirements, to set up your Botim Money wallet and complete the International Transfer request.
- It is your responsibility to ensure that your contact details, including your mobile phone number, are up to-date and to promptly notify us of any changes to the information previously provided.
- For any inquiries related to this Key Facts Statement, you can contact us at customerservice@botim.me or by calling 6005 26846.
Send Now Pay Later (SNPL)
We kindly request you to carefully read and understand this KFS if you are considering applying for SNPL. When we use ‘we’, ‘us’ or ‘our’, we mean Quantix Technology Projects L.L.C.
By providing your digital acceptance by ticking the electronic checkbox, you acknowledge that you have read and understood this KFS and the SNPL features and benefits, applicable fees, interest charges.
This KFS is an informative document providing you with indicative information about interest, fees and charges of this product and does not intend to create legal rights or obligations between the parties.
Please refer to the SNPL Terms of Use, the SNPL Credit Agreement, the SNPL Privacy Policy, the Debit Authorisation Agreement and all other terms and conditions relating to the SNPL communicated to you via the BOTIM App and specified as forming part of your “Agreement” with us in respect of the SNPL service (together, the “Agreement“) for the final terms and conditions of your SNPL Loan.
Any credit limit that may appear on the BOTIM APP prior to confirmation is for illustrative purpose only and subject to final confirmation by us. If there is any discrepancy between this KFS and the Agreement, the Agreement will prevail.
1. Product Information | |
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Type of Credit | Fixed rate unsecured personal loan (“Loan”) for the sole purpose of sending remittance(s) to third parties via the BOTIM App (the “App”). |
Minimum Eligibility Criteria | Between twenty-one (21) and sixty (60) years of age; and Resident of the United Arab Emirates (UAE) with a valid Emirates ID Final approval of the SNPL Loan is subject to our internal risk criteria and policies and procedures, customer profile and credit history. |
Currency | AED (United Arab Emirates Dirhams) |
How and when credit would be provided | Upon approval of your SNPL loan application for your remittance, funding will be immediately available to you for remittance using the App. Each time you borrow funds under SNPL it is treated as a separate loan. Each new SNPL Loan application for your remittance will be subject to a SNPL Credit Agreement. |
SNPL Credit Limit | The maximum amount of credit made available to you for your requested remittance under the SNPL and notified to you upon approval of your SNPL Loan application. Any request for a remittance using SNPL that exceeds your approved SNPL Credit Limit will be rejected. We may vary the level of credit available to you for remittances. In certain circumstances, the amount of credit available to you for remittances may increase or decrease. |
Repayment Term | The period within which you must repay your SNPL, which may be within 1 month or up to 6 months (depending on the term of the SNPL Loan you select in SNPL Loan application). |
Monthly Repayments. | Your SNPL repayments are to be made in equal monthly instalments (each, an “EMI”). If the term of the SNPL exceeds 1 month, you will be required to make a monthly repayment (each monthly repayment will be an equal instalment) either (i) on the last Business Day of the month (if you make your remittance on or prior to the 10th day of a month) or (ii) on the last Business Day of the next month (if you make your remittance after the 10th of a month). If the term of the SNPL is 1 month, you will be required to pay the total amount used under the SNPL plus all applicable Interests: either (i) on the last Business Day of that month (if you make your remittance on or prior to the 10th day of a month) or (ii) on the last Business Day of the next month (if you make your remittance after the 10th of a month). The amount of your monthly repayments and the repayment dates will be notified to you via the App before you confirm any remittance using your SNPL Credit Limit. |
Total repayment amount | The total amount you have borrowed under the SNPL Loan for your requested remittance, plus total Interest and any applicable fees. |
2. Fees | |||||||||||||||
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Interest (inclusive of VAT) | Interest is calculated as a flat rate applied to the SNPL Loan Amount. Interest payable under the SNPL depend on the term of the SNPL.
Interest is calculated on the basis of a 365-day calendar year and accrues daily from the day you utilise your SNPL credit for your requested remittance. | ||||||||||||||
Annualised Percentage Rate (APR)(Indicative) | Starting from 50% to 84%. APR (or Annualised Percentage Rate) is a reference rate, which includes applicable Interest as well as other fees and charges applicable to the SNPL expressed as an annualised rate. Loan APR is an important factor for you to evaluate the SNPL Loan. However, given that your SNPL Loan will have a term of less than twelve (12) months, the stated APR will be higher than the actual rate you pay over the term of your SNPL Loan.
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Late Payment Fee (inclusive of VAT) | AED 50 on any repayment missed after the Late Payment Grace Period has run out. | ||||||||||||||
Grace Period | 4 calendar days For example, if your repayment is due on 12th May, the Grace Period runs until 16th May. During the Grace Period the repayment will be overdue, however no Late Payment Fee will be charged. | ||||||||||||||
Early Repayment Fee (inclusive of VAT) | 1% on the SNPL Loan Amount outstanding which is being repaid early. The Early Repayment Fee is payable on the date of the early repayment. | ||||||||||||||
For the full and latest fees and charges, please visit the App. |
3. Representative Example
Example:
Loan Amount | 1,000.00 |
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Interest rate | 25.00% |
Term (in Months) | 6 |
Start date | 01-Jan-25 |
End date | 30-Jun-25 |
First Month end Date | 31-Jan-25 |
First Monthly Repayment Date | 31-Jan-25 |
Days | 181 |
Total Interest over the term of the SNPL Loan | 247.95 |
Total repayment | 1,247.95 |
Monthly Instalment (EMI) | 207.99 |
Please refer to the representative example of how payments are allocated between outstanding balance and Interests in the “Early Repayment” section below.
(The figures are examples for guidance and illustration purposes only.)
Your SNPL Credit Limit and the associated Interest may differ from the representative example shown above. It will depend on the term of your SNPL Loan, credit profile and our affordability assessment.
4. Important Terms Table | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Amendments | Your SNPL Credit Limit may vary from one SNPL Loan application to the next. We may also vary the terms and conditions of the SNPL in the future by posting the revised terms and conditions on the App. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Early repayment | You can at any time repay the amounts remitted under the SNPL in full prior to the Repayment Term. Note:
Example:
Please refer to the representative example of the 6-month repayment calculation table above. The example below shows the total amount you will be required to pay if you take out an SNPL Loan with a 6 month term and you wish to repay and terminate your SNPL Loan early during the course of the 3rd month. In these circumstances you will have already made two EMIs.
(The figures are examples for guidance and illustration purposes only.) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cooling Off Period and Waiver of Cooling Off Period | Warning: By entering into the SNPL Credit Agreement, you agree to waive your right to the 5 Business Day Cooling Off Period and you will immediately be irrevocably bound. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Termination | You may terminate the SNPL Loan at any time by repaying any outstanding balance under the SNPL Loan together with any applicable Interest and Early Repayment Fees (see above) prior to the expiry of the notice period specified in your notice of termination. |
5. Additional Information | |
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Contact Information and Complaint | If you have any complaints or concerns about the Services or otherwise wish to contact us, please contact us via the App on Botim Cares or call on +9714-2468825. Further information on our complaints handling policies and procedures can be found on the App. |
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 SNPL Loan application is rejected on the basis of the credit information collected. |
6. Warnings | |
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Consequences of missing payments | Warning: Missing payments has serious consequences. This could result in us asking you to repay the credit early and taking legal action against you for recovery of the debt and associated costs. If you do not meet the repayments/payments on your SNPL facility your account will go into arrears. This may affect your credit rating which may limit your ability to access financing in the future and/or make obtaining credit more expensive. Additionally, we reserve the right to take appropriate legal action against you for breaching your contractual obligations. |
Application Decline | We reserve the right to decline any customer SNPL Loan application at our sole discretion. |
Credit History | Your payment history in the credit bureau on other facilities or other banks will impact your ability to be granted an approval for SNPL. |
Income Reduction Risk | An income reduction due to change of employment or change of personal circumstances may impact your ability to repay the amounts used under the SNPL Loan. |
Early Repayment | You will have to pay penalties if you pay off a loan/financing early. |
Waiver of Cooling Off Period | Please see Section 4 for the Warning Statement in respect of the Waiver of the Cooling Off Period. |
7. Acknowledgment, Consent & Declaration | |
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Customer Acknowledgement Consent | By ticking the electronic checkbox:
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Easy Cash - Fixed Interest Rate
The Easy Cash Facility is a financial solution designed to provide quick access to funds through a personal loan, helping you meet your immediate or planned financial needs. This facility allows you to borrow a specific amount and repay it in fixed monthly instalments over a predetermined period.
This Key Facts Statement (KFS) serves as a guide, offering clear and transparent information about the product. It includes details on:
- Interest Rates: An overview of the applicable interest rates, including how they are calculated and whether they are fixed or variable.
- Fees and Charges: A breakdown of any processing fees, administrative charges, late payment penalties, or any other costs associated with the loan.
- Repayment Terms: Information on the loan tenure, monthly instalment amounts, and any flexibility in repayment options.
- Eligibility and Requirements: The basic criteria for applying for the loan, such as income level, employment status, and documentation needed.
By reviewing this document, you will gain a clear understanding of the financial obligations associated with the Easy Cash Facility, helping you make an informed decision before proceeding with the loan.
Product: Easy Cash Facility
Section | Details |
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Loan Type | Credit Line |
Loan Amount | Up to AED 1,000 |
Loan Currency | United Arab Dirhams (AED). |
Loan Period | 3 months |
Interest Rate (indicative) | Fully fixed rate: Starting from 0.1% up to 0.3% on reducing balance per day. The rate will remain unchanged for the loan period. |
Annualised Percentage Rate (APR) (indicative) | Starting from 36.5% up to 109.5%. APR is a reference rate, which includes applicable interest, fees and charges of the product, expressed as an annualised rate. |
Loan Repayment | Repayments are made in monthly installments, covering both principal and interest. Interest accrues daily at 0.1% on the remaining principal balance. As you make repayments, the outstanding principal decreases, reducing the daily interest charged over time. If multiple orders are active, the total monthly bill will reflect the combined due amounts for all ongoing installments. The total repayment includes the borrowed principal and accumulated interest over the repayment period. |
Loan Processing Fee | No processing fee is charged. |
Early Settlement / Foreclosure / Partial Settlement Fee | No early settlement fee is charged. |
Late Payment Fee | Late Payment Fee: AED 5 + 0.4% of the overdue principal balance, capped at AED 50 per statement. |
Representative Example
Type of Loan | Fully Fixed Rate (Reducing Balance method) |
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Loan Amount | AED 300 |
Interest Rate | Fixed interest rate of 0.1% per day |
Annualised Percentage Rate (APR) | 36.5% |
Loan Period | 3 months |
Total Interest Amount | AED 18(Assumes repayment is made in 3 equal principal installments at the end of each month). |
Total Repayment Amount | AED 318 |
Repayment Plan | 1st Installment: 300*0.1*30=9+100=109 AED 2nd Installment: 200*0.1*30=6+100=106 AED 3rd Installment: 100*0.1*30=3=100=103 AED |
Early Settlement Fee | No early settlement fee is charged. |
Additional Information:
Please read this document carefully and sign only if you clearly understand and agree to the content of the Key Fact Statement (KFS), which is available in English and Arabic. You may also use this document to compare different Personal Finance options offered by other financial institutions. You have the right to receive KFS from other financial institutions for comparison.
This Key Facts Statement which is available in Arabic language also is provided to help you (you”,
“Customer or “Customer”) compare this Personal Finance with Personal Finance facility of other financial institutions. This is not an offer of credit facility.
Information provided by you in the application form has been used by Quantix Technology Projects LLC to prepare this Key Fact Statement.
Definition: “You”, “your”, “Customer “or “Customer ‘means the customer “We” “our” and “us refers to Quantix Technology Projects LLC licensed and regulated by the Central Bank of the UAE or “Quantix” or the “finance company” and/or its successors and assigns or to any “Affiliate” if any services are being provided by an Affiliate under the general terms and conditions for lending.
Warning!
By availing this product, you will be exposed to the following risks:
- You will become owner of the service, and you will be responsible for all the risks and rewards of the service.
- In case of late payments or non-payment of this Personal finance, you may be exposed to the following consequences and others:
- The Quantix will ask you for paying a late payment fee pursuant to your undertaking to donate in case of late payment.
- A negative Credit Information Agency rating and the possible limitations on the ability to borrow/obtain financing in the future.
- Collection measures Involving collateral, collection fees and claim on guarantees.
- Legal actions through the courts
- The customer irrevocably and unconditionally authorizes the Quantix to assign their account to any of its authorized collection agents situated either locally or internationally to contact, follow up and recover the due and outstanding amounts (inclusive of profit, fees and any other associated charges) along with filing of legal proceedings either inside or outside the country.
- Customer hereby authorizes the Quantix to assign any of its authorized collection agents either locally or internationally to contact, follow up and recover the due and outstanding instalment amount inclusive of profit, fees, and any other associated charges.