Standard Chartered offer a personal loan “CashOne Personal Loan” where customers can borrow up to 4 times the amount of their monthly income for a tenure of wither 1, 2, 3, 4 or 5 years.
Applying for a loan with Standard Chartered of S$30,000.00 loan, over a year tenure, with an APR of 7.8%, monthly payments would be S$2,695.00, with a total interest payable of S$2,340.00 and the total amount repayable would be S$32,340 over the term of the loan.
It will usually take about 7 days to have the loan approved, and customers can get up to S$1088 back and an extra S$50 if they apply for the loan online. The first year annual S$199.00 is also currently being waived on all loans.
What’s needed to get a Standard Chartered Personal Loan?
In order to apply for and receive a CashOne Loan with Standard Chartered, customers will need to be between 21-65 years, a Singaporean citizen, a permanent resident or a foreigner with a valid employment pass. People who apply for a loan must also earn a minimum monthly salary of S$1,667.00 per month. You may borrow up to 4x your annual income. There will be no documents needed for getting a loan if you are already a credit card holders of Standard Chartered bank. Credit card holders should keep in their mind about to submit updated documents if their income changes.
Keeping in mind, that while customers can end their CashOne loan early with Standard Chartered, they will have to pay 3%of the outstanding principle, or S$250.00. Whichever is higher. There are late payment charges of S$80.00 and if they wish to make changes to the tenure, it will cost S$50.00 per change. If customers have a bad credit it history, there is also a chance that the personal loan may not get accepted.
If you’re looking at new personal loans, consider taking out a loan with Standard Chartered.