Interest. The borrower agrees to pay interest on the loan facility at the fixed interest rate agreed upon with the Bank and as stated in the Quick Loans Promissory Note and Disclosure Statement signed by the borrower. The interest is calculated on a daily basis based on the diminishing balance of the loan. Please refer to the Disclosure Statement provided. The Disclosure Statement shall be a computer-generated notice and would not be signed but shall be deemed as having been issued by the Bank and is to be read together with and shall form part of the agreement governing the Facility. Any difference between the Facility amount, interest rate or term applied for and the amount, interest rate or term finally approved by the Bank, shall not affect the validity of these Terms.

Event of Default. In case of non-payment of the entire loan or any portion thereof as stated in the Promissory Note, on due date/maturity for whatever reason including, but not limited to, the closure of the borrower’s savings/deposit/payroll account, the whole sum of outstanding and unpaid amount under the Promissory Note shall thereupon become immediately due and payable without need for demand or notice to the borrower. In the event of default, the borrower jointly and, severally agrees to pay as penalty charges, an additional amount equivalent to thirty six percent (36%) per annum of the total outstanding amount due, until fully paid, and should the Bank require the services of counsel to enforce collection of the Promissory Note, the further sum equivalent to twenty percent (20%) of the total amount due, but in no case less than Five Thousand Pesos (P5,000.00), as attorney's fees, plus cost of suit and other judicial or extrajudicial expenses. Venue of any suit arising from a collection case or a violation of these Terms shall only be in Pasig City to the exclusion of other venues. In case of judicial execution of Borrower's obligation, the rights of Borrower under Rule 39, Section 13 of the Rules of Court are hereby waived.

Disclosure of Information. Applicant/borrower hereby authorizes the Bank to send notifications through text or e-mail messages, of any and all reminders, notices, marketing materials, promotions, loan offerings, and all other Bank offering and product updates. Applicant/borrower understands and agrees that the Bank may use the personal information he/she has provided to pre-qualify him/her for other product offerings. Applicant/borrower confirms that he/she is solely responsible for the security of his/her cellphone and e-mail and thus hereby agrees to defend, indemnify and holds the Bank free and harmless from any and all damages, causes of action, and liabilities if the information contained in the electronic or text notification is, for whatever reason, by any means accessed by any person other than the applicant/borrower. Pursuant to Republic Act No. 9510 otherwise known as “the Credit Information System Act” and its Implementing Rules and Regulations, applicant/borrower acknowledges that the Bank is mandated to submit or disclose his/her basic credit data to the Credit Information Corporation (CIC) as well as any updates or corrections thereof, and share said basic data with other lenders authorized by the CIC, credit reporting agencies duly accredited by the CIC and financial service providers. Applicant/borrower acknowledges that he/she has read, understood and consents to the Bank’s Privacy Policy found at https://www.eonbankph.com/privacy_policy.

The Applicant agrees that the Bank, directly or through its Partners, may collect, retrieve, process, use and store his/her personal data such as name, age, photographs, fingerprints, other biometric data (e.g., facial recognition and voice recognition), mobile number/s, mobile phone usage data, employment details, income, financial data, financial profile, credit standing, loan payment history, and other information required in the application form for the purpose of reviewing and processing the Applicant’s loan application. The Applicant consents to the collection of his/her personal data from the Applicant her/himself, or from other personal information controllers such as, but not limited to, telecommunications companies, for credit scoring purposes. The Applicant’s personal data such as mobile number, email address, and address, will be shared to a credit scoring service provider for credit investigation, credit scoring, data analytics, and data profiling, which includes the regular updating of the Applicant’s credit score. The personal data secured may also be used for direct marketing of products and services of Partners.

Throughout the processing of the Applicant’s personal data, his/her rights under the Data Privacy Act of 2012, such as the (1) right to be informed, (2) right to object, (3) right to access, (4) right to rectification, (5) right to erasure or blocking, and (6) right to damages, shall be upheld. Entities to whom we share your data will also respect the same rights. Applicant/borrower hereby acknowledges and accepts Globe Telecom Inc. (“Globe”) as the bank’s data sharing partner, and he/she consents that his/her data may be used, collected, processed, stored, accessed, entered into a processing system, updated, shared, transferred or disclosed by the Bank and Globe for other relevant transactions and activity of the Bank and Globe. The applicant/borrower further consents to the use and transfer of their telco usage data or “telco score” for the purpose of credit scoring/analytics between the Bank and Globe. The applicant/borrower understands that credit scoring analytics in this case is done in order to credit assess the applicant/borrower, and consents to the use of his/her telco usage data or “telco score” in order to achieve such purpose.

The Applicant’s/Borrower's information may also continue to be stored and processed for 10 years from the date of the last transaction or until the lapse of the period stated in the privacy policy of Lender. Should Applicant/Borrower also wish to access, rectify, or correct its data, or withdraw consent to the use of any or all of his/her information as set out in this Agreement, Applicant/ Borrower may communicate the same with dpo@unionbankph.com.

Amendment. The Bank may amend or change provisions in these Terms at any time. As far as reasonably practicable, the applicant/borrower will be notified of any change in the manner provided by applicable law prior to the effective date of the change. Applicant/borrower agrees to frequently check https://eonbankph.com/faqs for any updates on the Facility. If the change is made for security purposes and to prevent further losses, the Bank can implement such change without prior notice.