CONVERT TO INSTALLMENT PROGRAM MECHANICS 1. The Convert to Installment Program is open to all principal cardholders of Bank of Commerce whose accounts are active and current. 2. The cardholder may convert single or accumulated retail transactions of at least PHP 3,000 to installment payments at 6 and 12 month terms and PHP 10,000 at 24 and 36 month terms. 3. The qualified transactions are unbilled retail transactions and retail transactions that are reflected in the cardholder’s latest statement of account. Cash Advance transactions, casino and gambling transactions, interest charges, fees, installment amortizations and US Dollar billed transactions are not eligible. 4. The monthly add-on rates shall be as follows: Term Monthly Add-On Rate Factor Rate Effective Interest Rate Per Annum 6 1.00% 0.176667 20.29% 12 1.00% 0.093333 21.46% 24 1.00% 0.051667 21.57% 36 1.00% 0.037778 21.20% 5. To apply, the cardholder must call Bank of Commerce Customer Service at (02) 8632-2265 or toll free numbers 1-800-10-9826000 for PLDT or 1-800-8-9826000 for Globelines at least three (3) banking days before the Payment Due Date. 6. Bank of Commerce shall have the absolute and exclusive right to approve or reject Convert to Installment Program applications. Also, Bank of Commerce has the sole discretion to approve installment payment for only a portion of the amount applied for. 7. If approved, an Installment Processing Fee of PHP 100 shall be charged to the cardholder’s account. 8. Rewards points earned from the retail transaction applied for conversion shall be deducted from the Card account upon conversion, and shall be credited back monthly in such amounts corresponding to the portion of the principal component of the monthly installment billed on the Statement of Account. 9. In case of pre-termination or cancellation of Convert to Installment Program by the cardholder, the cardholder shall be liable to pay in full the unpaid principal component of the Total Amount Payable and an Installment Pre-Termination Fee of PHP 1,000.