Automatic Balance Conversion definition
Automatic Balance Conversion means an auto balance conversion for eligible Cardmember by converting the outstanding balances in respect of a Card into a term loan.
Automatic Balance Conversion means an Auto Balance Conversion for eligibleCardholder by converting the outstanding balances in respect of a Card into a term financing. “Automatic Balance Conversion Amount” means the eligible Cardholder(s) Outstanding Balances. “Automatic Balance Monthly Instalment” means the fixed monthly instalment which inclusive of principal portion and profit portion of the monthly instalment payment of Auto Balance Conversion. “Automatic Balance Conversion Tenure” means 36 months from Auto Balance Conversion date. “Card” means any VISA Card or MasterCard Card issued by RHB Islamic Bank to a Cardholder and shall unless otherwise provided include a supplementary card (if any) and shall where the context so permits include any or more of such cards. “Cardholder” means a person who has applied for and is issued with a Card bearing his name and shall unless otherwise provided include a supplementary cardholder (if any) and shall where the context so permits include any one or more of such persons. “Fixed Management Fee” means the maximum management fee that may be charged by RHB Islamic Bank to the Cardholder in relation to the services provided by RHB Islamic Bank in respect of the Card and such maximum management fee is determined by RHB Islamic Bank and notified to the Cardholder from time to time “Management Fee” means the management fee charged to the Cardholder in relation to the Card transaction “Outstanding Balances” means the balances appearing in the Cardholder’s statement of account or monthly statement, (excluding instalment amounts payable under other instalment plans, such as RHB Islamic Smart