1. The Back to School Installment Plus is open to Bank of Commerce Credit Cardholders with the active and current status. 2. The Promo period is from March 15, 2020, to September 30, 2020. 3. The Back to School Installment Plus Amount, inclusive of the Interest Amount, must be within the available credit limit. The required minimum amount and monthly add-on rate shall be as follows: Term Monthly Add-On Rate Minimum Amount Factor Rate Effective Interest Rate per Annum 3 0.75% 3,000 0.340833 13.45% 6 0.75% 3,000 0.174167 15.27% 9 0.75% 3,000 0.118611 15.92% 12 0.60% 3,000 0.089333 13.03% 18 0.60% 10,000 0.061556 13.23% 24 0.55% 10,000 0.047167 12.20% 36 0.50% 10,000 0.032778 11.08% 4. To apply, the cardholder must submit the following requirements through or email at customerservice@bankcom.com.ph: Completely filled out and signed Back to School Installment Plus Application Form Clear copy of the School Assessment Form Tuition Receipt or Official Receipt of school-related expenses such as uniforms, books, etc. The application shall be subject to evaluation and approval. The processing of the application is three (3) banking days. 5. If approved, the proceeds shall be released via Manager’s Check and shall be deposited to the cardholder’s Current Account or Savings Account (CA/SA) within three (3) banking days from date of approval 6. In case of pre-termination or cancellation of the Back to School Installment Plus, the cardholder shall be liable to pay in full the unpaid principal component of the Total Amount Payable and an Installment Pre-Termination Fee equivalent to P1,000. 7. Bank of Commerce shall have the absolute and exclusive right to approve or reject Back to School Installment Plus applications. Also, Bank of Commerce has the sole discretion to approve only a portion of the amount applied for. 8. Back to School Installment Plus shall earn rewards points. Terms and Conditions In these Terms and Conditions Governing the Back to School Installment Plus Program (“Terms and Conditions”), the term “Card” means all credit cards issued by Bank of Commerce (“Bank”). The term “Cardholder” means the person at whose request one or more Cards have been issued by the Bank. The Cardholder hereby agrees to the following Terms and Conditions: 1. Back to School Installment Plus is a Card facility wherein Cardholders of good credit standing may avail of cash charged to the Card together with applicable interest and other fees to be paid for by the Cardholder on an installment basis. The Bank may at its option require a minimum amount to qualify for Back to School Installment Plus. The Back to School Installment Plus request will be subject to verification and credit approval by the Bank. The approved Back to School Installment Plus Amount and the corresponding Back to School Installment Plus Interest Amount must not exceed the unused portion of the Cardholder’s Card Installment Limit. 2. Where the Bank approves a request for Back to School Installment Plus, the total Back to School Installment Plus amount (“Total Back to School Installment Plus Amount”) shall be subject to these Terms and Conditions and all applicable terms and conditions under the Terms and Conditions Governing the Issuance and Use of Bank of Commerce Credit Card and all related provisions of the Installment Plan. 3. The monthly Back to School Installment Plus due (the “Monthly Installment Due”) forms part of the minimum amount due in the statement of account of the Card. The regular Monthly Installment Due is computed as the total amount payable (the “Total Amount Payable”) divided by the term (the “Term”, i.e. number of months within which such amount must be paid) chosen by the Cardholder. The Total Amount Payable is computed as the Total Back to School Installment Plus Amount plus the total amount of Back to School Installment Plus interest due. The total amount of interest due (“Total Interest Due”) on the Total Back to School Installment Plus Amount is computed as the sum of interest charged monthly throughout the Term chosen by the Cardholder. The following is a sample computation for 12 month term: Monthly Installment Due = Back to School Installment Plus Amount x Factor Rate = P10,000 x 0.089333 = P893.33 Total Amount Payable = Monthly Installment Due x Term = P893.33 x 12 = P10,720.00 The computation of interest and principal components of the Monthly Installments Due shall be on a diminishing balance basis, and the interest and principal portions of the Monthly Installments Due will not be equal from month to month. The first Monthly Installment Due shall be billed to the Cardholder beginning on the Cardholder’s next statement date and succeeding Monthly Installments Due shall be billed every month thereafter until the Total Amount Payable is paid in full. BACK TO SCHOOL INSTALLMENT PLUS SAMPLE SCHEDULE OF PAYMENT AMOUNT 10,000 TERM 12 MONTHS MONTHLY ADD-ON RATE 0.60% APPROVAL DATE 06/01/2020 EIR 13.03% NEXT STATEMENT DATE 07/01/2020 Month Monthly Installment Due Interest Component Principal Component Outstanding Principal Balance 0 10,000 1 893.33 108.62 784.71 9,215.29 2 893.33 100.10 793.24 8,422.05 3 893.33 91.48 801.85 7,620.19 4 893.33 82.77 810.56 6,809.63 5 893.33 73.97 819.37 5,990.26 6 893.33 65.07 828.27 5,161.99 Month Monthly Installment Due Interest Component Principal Component Outstanding Principal Balance 7 893.33 56.07 837.26 4,324.73 8 893.33 46.97 846.36 3,478.37 9 893.33 37.78 855.55 2,622.82 10 893.33 28.49 864.84 1,757.97 11 893.33 19.09 874.24 883.73 12 893.33 9.60 883.73 0.00 TOTAL 10,720.00 720.00 10,000.00 In case of pre-termination or cancellation of Back to School Installment Plus, the Cardholder shall be liable to pay in full the unpaid principal component of the Total Amount Payable and an Installment Pre-Termination Fee equivalent to Php1,000. 4. The Cardholder agrees to pay the Bank interest on the Total Back to School Installment Plus Amount on the dates specified in the Statement of Account at the applicable monthly add-on rate with a corresponding effective interest rate per annum based on the outstanding principal balance when the respective Statement of Account is generated and the Term as follows: NOTE: RATES BELOW ARE SUBJECT TO CHANGE BY BANK OF COMMERCE Term Monthly Add-On Rate Annual EIR 3 0.75% 13.45% 6 0.75% 15.27% 9 0.75% 15.92% 12 0.60% 13.03% 18 0.60% 13.23% 24 0.55% 12.20% 36 0.50% 11.08% If the Cardholder pays only a portion of his Total Amount Due as indicated in the Statement of Account, the unpaid portion of the Monthly Installment Due shall be subject to the monthly finance charge at the prevailing interest rates. Usual late payment charge applies. In the event that the Card is 90 days or more past due, the Back to School Installment Plus will be cancelled, and any remaining unpaid balance will be billed to the Card in full as a regular retail transaction. Once billed in full, the remaining balance will be subject to Finance Charge. 5. Except insofar as they may be inconsistent with these Terms and Conditions, the provisions of the Cards T&C shall continue to apply to the Total Back to School Installment Plus Amount applied under the Back to School Installment Plus Facility. These Terms and Conditions shall be read and construed with the Cards T&C so as to produce a result that is harmonious and consistent; Provided, that in the event of any inconsistency or conflict between the provisions of these Terms and Conditions and the Cards T&C, the provisions of these Terms and Conditions shall prevail in relation to the Total Back to School Installment Plus Amount applied under the Back to School Installment Plus Program. Unless clearly and unambiguously provided in these Terms and Conditions, there shall be no diminution of the obligations of the Cardholder under the Cards T&C. Per DTI-FTEB Permit No. FTEB-05467 Series of 2020