Credit Card 0% Easy Payment Plan Terms and Conditions

  1. I/we agree that my participation in this interest-free Easy Payment plan (EPP) installment scheme will be governed by these terms and conditions, and any other rules, procedures or instructions which Oman Arab Bank, may from time to time issue.
  2. I/we will also continue to be bound by the Oman Arab Bank credit card’s agreement and all terms and references used, defined or construed therein and in our materials shall have the same meanings and construction in these terms.
  3. I/we and/or my supplementary cardholder may purchase the selected product(s) and/or service(s) from our designated merchants under EPP by making payment for the purchase amount of such product(s) and/or service(s) (purchase Amount) in equal installments (EPP installments) over the selected tenure as stated in transaction details. Please note that notwithstanding that I/we will be making payment to OAB for the purchase amount via EPP installments. OAB would have full payment of the purchased amount to the relevant merchant. Accordingly, I/we will be liable to OAB for the entire purchase amount.
  4. By requesting to OAB call center for EPP, I/we are deemed to have irrevocably and unconditionally agreed that such EPP instalment will be billed to my card account starting from the month after my purchase without the need for future signatures to be obtained. Each EPP installment billed will be reflected in your monthly statement of account as a normal charge to your card account and be payable by you in accordance with the terms of the credit card’s agreement. In particular, please note that the usual interest charges and late payment charges will be levied if applicable.
  5. I/we understand that, upon processing the request for EPP on OAB call center, my available combined credit limit will be provisionally reduced by blocking out an authorization amount equivalent to the purchase amount. This authorized amount will be progressively reduced by the amount of each EPP installment paid until the full amount is received.
  6. I/we may participate in EPP only if I/we ensure that:
    1. The amount of the purchase should not be less than RO100.
    2. The available combined credit limit for my card account is sufficient to block out the purchase amount of my selected product and/or service; and
    3. I/we are not in breach of the credit card’s agreement.
  7. Upon the occurrence of any one or more of the following events. OAB shall be entitled to bill the aggregate sum of the remaining EPP installments to me/us forthwith:
    1. The customer is in breach of any of these terms and or any provision of the credit card’s agreement.
    2. The customer default in the payment of any sums due under the credit cards agreement of these terms;
    3. OAB terminate or suspend customer’s card account.
    4. The customer terminate the card account.
    5. The customer terminate the EPP transaction;
    6. The customer successfully return the product(s) and/ or cancel the service(s) purchased under EPP to the merchant and obtain a refund therefore;
    7. The customer death, bankruptcy or other legal disability: or
    8. Any provision herein is declared by any judicial or competent authority to be void, voidable or otherwise unenforceable.
  8. The card member can apply for more than once for EPP so long as the card member qualifies for the EPP in accordance with these terms and conditions.
  9. Any early repayment of amounts due under the EPP shall be subject to the bank’s applicable policy.
  10. OAB is not the manufacturer or supplier (or the agent thereof) of any of the products or services featured. OAB shall not be in any way liable, for any claim, injury, expenses, loss or damage brought or incurred by any party whosever, or for any other matter arising from or in connection with the use of any product or supply of any service purchase here under or your participation in EPP. Any complaints or comments in relation to any product or service purchased on any accompanying term and conditions are to be directed to the merchant.
  11. The bank may vary the terms and condition of this agreement anytime, subject to the requirement of laws and regulations issued by competent authority.
  12. Each of these terms and conditions shall be severable and distinct from one another and if at any time any one or more of such terms and condition is or becomes invalid, illegal or unenforceable, the validity, the legality or enforceability of the remaining provisions shall not in any way be affected thereby.
  13. The Request should be submitted at least 5 business days before the payment due date (as per the Credit Card statement) in order to initiate the EPP Tenure.