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

Key Features

  • Transfer funds globally to over 200 countries and regions through four available options:
    • Bank Transfer
    • Wallet
    • Cash pickup
    • UPI
  • All international transfers will be debited from your Botim Money account in AED and converted into the selected currency at the time of initiating the transfer.
  • The applicable currency conversion rate will be applied, and you will be notified of this rate prior to your consent to the transfer.

Eligibility

  • You must be 18 years or older and be a resident or citizen of the United Arab Emirates.

Wallet Currency

  • United Arab Dirhams (AED).

Fees

  • No charges are associated with maintaining your Botim Money wallet or account.
  • A fixed service fee of AED 6.00 – AED 15.00 may apply, along with a nominal foreign exchange margin fee for international transfers*.
  • Additional fees may vary based on factors such as transfer amount, currency, corresponding bank charges, etc.
  • All fees and charges are exclusive of VAT. A 5% VAT will be additionally applied to the fixed service fee.

Limits

  • Maximum value of any single international transfer: AED 36700.
  • Maximum daily international transfer limit: From AED 25,000 to AED 500,000, subject to approval.
  • Maximum monthly international transfer limit: From AED 25,000 to AED 500,000, subject to approval.
  • Maximum number of daily international transfers: No limit.
  • Maximum number of monthly international transfers: No limit.
  • Maximum wallet limit: From AED 25,000 to AED 500,000, subject to approval.

Collection

  • Recipients can collect the transfer in cash at designated locations within our partner network (“to cash”) or receive the transfer in their bank or mobile wallet account (“to account”).

Load Options

  • You can load funds into your Botim Money wallet before initiating transfers using one of the following methods:
    • Debit cards;
    • Bank account transfer;
    • Apple Pay, Samsung Pay, Google Pay;
    • By visiting registered kiosks; or
    • There may be instances where additional fees for other services apply. This Key Facts Statement offers indicative fees and charges only. The precise fees and charges will be provided for your confirmation when you initiate an International Transfer.

WARNING -Important Information

  • It is your responsibility to ensure your Botim Money wallet is sufficiently funded prior to use. Failure to maintain adequate funds in your Botim Money wallet will result in the International Transfer being declined. 
  • You must always safeguard your Botim Money wallet credentials to prevent unauthorized use or fraudulent activities. 
  • The International Transfer service may involve third-party agents, authorized delegates, or other permitted entities within our network. Consequently, you may be required to review and accept additional terms and conditions, which will be communicated to you via the Botim Money App before completing any applicable International Transfer. Additionally, we may request further documentation to fulfill regulatory and compliance requirements. 
  • You do not have the right to cancel an International Transfer. However, upon your request, we may attempt to cancel the transfer before the recipient collects or receives the funds, though this is not guaranteed. Should you wish to cancel the transfer and request a refund, please contact us immediately through our Contact Page (Insert Hyper link).
  • Please note that any fees paid during the initiation of the International Transfer will not be refunded if the cancellation request is successfully processed and the funds are returned to you.
  • In the event of a refund, the exchange rate may differ from the original rate used during the International Transfer.
  • For International Transfers intended for cash collection, if the recipient does not collect the funds within 90 days of the transfer instruction, the transfer will be considered expired, and we will have no obligation to complete the International Transfer. In such cases, you will be entitled to a refund of the expired transfer amount to your Botim Money account.
  • For International Transfers sent to account, you will need to contact the recipient’s account provider for information regarding the processing time for crediting the transfer to their account.
  • We reserve the right to suspend or cancel your access to your Botim Money wallet if your conduct is deemed unsatisfactory or in violation of the Central Bank of the UAE’s regulations.
  • We also reserve the right to impose limits on the value of International Transfers you can make using your Botim Money wallet, in addition to the general limits outlined in the General Terms. The General Terms can be accessed here.

Additional Information:

  1. Our General Terms (including any associated documents) and Privacy Policy must be read and adhered to in conjunction with this Key Facts Statement.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.

SectionDetails

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

TransactionsPricing (AED)
Domestic charges
Domestic – ATM Cash withdrawal FeeAED 2.10
Domestic – ATM Balance Inquiry FeeAED 1.05
Domestic – ATM Decline FeeAED 1.05
Domestic – POS & E-COM Decline FeeAED 0.00
International charges
International – ATM Cash withdrawalAED 15.75
Cross Border Cross Currency Fee (POS & ATM)2%
International – ATM Balance Inquiry FeeAED 5.25
International – ATM & POS Decline FeeAED 5.25
Other Fee
Card Replacement FeeAED 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.

SectionDetails

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

TransactionsPricing (AED)
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.

SectionDetails
Key features• Standard and Metal card
• AED and USD wallet
• Internationally Accepted
• Supports ATM, POS & ecom transactions
• Apple Pay and Google Pay supported
EligibilityYou must be 18 years of age or over, and be a resident or citizen of the United Arab Emirates
Card CurrencyAED & USD
Minimum balanceNo 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 cardAED 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 optionsYou 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
Card Issuance – Virtual CardFree
Card Issuance – Physical Card and Delivery (Standard) – Paid35
Card Issuance – Physical Card and Delivery (Standard) – COD35
Card Replacement – Virtual CardFree
Card Replacement – Physical Card and Delivery (Standard)-Paid35
Card Replacement – Physical Card and Delivery (Standard) – COD35
Card Issuance – Physical Card and Delivery (Metal)285
Card Replacement – Physical Card and Delivery (Metal)285
Funds Load FeeFree
Domestic ATM Withdrawal Fee5.25
Domestic ATM Balance Inquiry Fee2.1
International ATM Withdrawal Fee (Outside the UAE) – AED wallet15.75
International Balance Enquiry Fee (Outside the UAE) – AED wallet5.25
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 charges3.15
AFT/POI Transaction Fee2.25% on Txn Amount
Cross Currency Fee (if customer is transacting in a currency apart from the list of Botim Money currencies)3.50%
SMS AlertsFree
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:

  1. 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
  2. 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. 
  3. 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. 
  4. 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. 
  5. 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. 
  6. 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

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

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.

TermFixed Flat Rate Charged
1 Month7.00%
2 Months12.00%
3 Months16.00%
4 Months19.50%
5 Months22.50%
6 Months25.00%

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.

Term (months)Flat Rate%
17.0%
212.0%
316.0%
419.5%
522.5%
625.0%

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 Amount1,000.00
Interest rate25.00%
Term (in Months)6
Start date01-Jan-25
End date30-Jun-25
First Month end Date31-Jan-25
First Monthly Repayment Date31-Jan-25
Days181
Total Interest over the term of the SNPL Loan247.95
Total repayment1,247.95
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

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: 

  • an Early Repayment Fee will be charged, as detailed above; and
  • applicable Interests will be charged on the SNPL used amount being repaid for the complete current month. This is in addition to the Early Settlement Fee.

Example:

Term MonthStarting AmountEMIInterestLoan AmountClosing Amount
11,000.00207.9967.21140.78859.22
2859.22207.9957.75150.24708.97
3708.97207.9947.65160.34548.63
4548.63207.9936.87171.12377.51
5377.51207.9925.37182.62194.89
6194.89207.9913.10194.890.00

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.

3rd Month EMI207.99
4th – 6th Month Outstanding Amount548.63
Early settlement fee (1% of total outstanding amount)5.49
Total Amount to be paid by the customer762.11

(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

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

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

Customer Acknowledgement Consent

By ticking the electronic checkbox:

  • I hereby acknowledge that I have read the SNPL Key Fact Statement and fully understand the features, benefits, fees, charges and other terms of the SNPL set out herein;
  • I acknowledge and agree that where I provide acceptance or consent by ticking the electronic checkbox: (i) this shall constitute my legal acceptance as if I had provided your acceptance and/or signature in writing, (ii) all relevant laws and regulations applicable to the acceptance of contracts via electronic methods will apply, and (iii) our records as to such form of electronic consent shall be binding and you will not challenge them on the basis that they are available only in electronic or digital format.

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

SectionDetails

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 LoanFully Fixed Rate (Reducing Balance method)

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.