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    We found 1 Bank of China Personal Loan

    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 6.38% p.a. EIR from 14.58% p.a.
    1-3 years
    What you'll love
    What you need
    What you need to consider
    What it costs

    Bank of China Personal Loan

    Personal Loan BYTES FROM OUR KITCHEN

    Bank of China Personal Loan

    Bank of China offers a range of personal loans to meet the varying needs of its customers in Singapore. Both new and existing customers can benefit from BOC personal loans, offered at very low interest rates for a reasonable repayment tenure. From emergency financial requirements to realising your dreams, BOC provides a wide range of personal loans to meet your needs.


    You’re probably eligible for a Bank Of China Personal Loan if you are

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    Bank Of China Personal Loan Minimum Age

    Atleast 21 years

    Bank Of China Personal LoanMaximum Age

    Less than 65 Years

    Bank Of China Personal Loan Eligible Employment Type

    Salaried or self-employed with regular income

    Bank Of China Personal Loan Minimum Income

    Earn more than the minimum income required


    Your Bank Of China Personal Loan amount eligibility is based on these factors

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    Bank Of China Personal Loan Minimum Salary

    Minimum Income required S$20,000.

    Bank Of China Personal Loan Maximum Loan Funded

    Max Loan Amount - Up to 4 times of your monthly income

    Bank Of China Personal Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible Bank Of China Personal Loan amount by these steps

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    Bank Of China Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Bank Of China Personal Loan Tenure

    Choose longer tenure loan up to 3 Years


    Documentation needed to apply for an Bank Of China Personal Loan

    • 1. Photocopy of NRIC
    • 2. Salaried Employee
      • Latest Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 3. Variable Income/Commission Based Earner
      • Latest 6 months Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 4. Self-Employed
      • Income Tax Notices of Assessment (NOA) for past 2 years
    • 5. Any other documents as may be requested by the Bank at its sole discretion

    Bank Of China Personal Loan DetailsUpdated on 24 Sep 2017

    Bank Of China Personal Loan Details
    Interest Rate 6.38% pa
    Processing Fee 2% to 5%
    Minimum Income $20,000 p.a.
    Loan Tenure 1-3 Years
    EIR 19.80% p.a
    Guarantor Requirement Guarantee Required

    Overdraft Facility, Debt Consolidation Plan, MoneyPlus Fund Transfer, MoneyPlus Line of Credit, MoneyPlus Term Loan, and mortgage loans are some of the personal loans offered by Bank of China to Singaporeans, Permanent Residents, and foreigners.

    Why choose Bank of China Personal loans?

    Listed below are the reasons why should choose personal loans offered by Bank of China:

    • The bank offers one of the lowest interest rates in the personal loans category.
    • With the BOC Overdraft Facility, you can make loan repayments at your convenience.
    • The application and documentation process for personal loans are simple and easy.
    • Those who have a Bank of China MoneyPlus Account have the option to apply for MoneyPlus Term Loan, Line of Credit, and Fund Transfer.
    • With MoneyPlus Fund Transfer, you can get to 75% savings as it offers extra credit at 0% interest for 3 to 6 months.
    • By opting for BOC Debt Consolidation Plan, you can consolidate all your unsecured loan payments into one single payment with a low interest rate.

    Types of Bank of China Personal Loan

    Listed below are the types of personal loans offered by BOC to Singaporeans, Permanent Residents, and foreigners:

    1. MoneyPlus Term Loan: Take advantage of the BOC MoneyPlus Term Loan that can be repaid in fixed monthly payments at a low interest rate for a very low processing fee.
      • Features and benefits of BOC MoneyPlus Term Loan:
        • MoneyPlus Account will be opened for those who apply for MoneyPlus Term Loan.
        • You can get a term loan for an interest rate as low as 6.38% p.a.
        • You can get a repayment term up to 36 months.
        • MoneyPlus Term Loan amount shall not exceed 90% of the credit limit on the MoneyPlus Account.
        • Interest rate for MoneyPlus Term Loan is 6.38% p.a. for a 12-month loan, 7.38% p.a. for a 24-month loan, and 8.68% p.a. for a 36-month loan. Effective Interest Rate is:
        • For income of S$30,000 and above

          12-month loan: 14.58% p.a.

          24-month loan: 15.40% p.a.

          36-month loan: 17.07% p.a.

          For income of S$20,000 to S$29,999

          12-month loan: 19.46% p.a.

          24-month loan: 17.89% p.a.

          36-month loan: 18.77% p.a.

        • Customer will have to pay S$100 or 1% of the outstanding loan amount, whichever is higher as early repayment fee for early settlement of MoneyPlus Term Loan.
        • A processing fee of S$75 or 1% and 5% of the loan amount, whichever is higher has to be paid by customers with an income of S$30,000 and above, and S$20,000 to S$29,999, respectively.
        • Annual membership fee of S$80 is applicable.
        • Minimum monthly payment is S$50 or 3% of the outstanding balance, whichever is higher
        • If minimum monthly payment is not made, a late payment charge of S$80 or 2% of the amount due will be charged.
        • The approved MoneyPlus Term Loan amount can be transferred to any bank’s current or savings account.
      • Eligibility criteria for BOC MoneyPlus Term Loan:
        • The minimum annual income requirement for foreigners is S$60,000, and Singaporeans and Permanent Residents is S$20,000 and above.
        • Applicant must be 21 years old or above.
      • How to apply for BOC MoneyPlus Term Loan?
        • Existing customers can visit the BOC website to download the application form.
        • New customers will have to download a separate application form from the BOC website to open a MoneyPlus Account and MoneyPlus Term Loan.
      • Documents required to apply for BOC MoneyPlus Term Loan
        • Singaporeans and PR can submit a copy of NRIC (both sides).
        • Foreigners can submit passport or employment pass valid for at the least 9 months.
        • Salaried employees must submit the latest payslips or CPF statements, and tax notice of assessment for the last 6 months.
        • Self-employed, variable or commissioned income earners must submit income tax notice of assessment for the last 2 years or CPF Statement for the last 1 year.
    2. MoneyPlus Line of Credit: With a minimum income of S$1,700 per month, you can get extra cash at a low interest rate to meet your emergency financial needs or fulfill your dreams.
      • Features and benefits of MoneyPlus Line of Credit:
        • Get cash up to 4 times your monthly income.
        • Interest rate for MoneyPlus Line of Credit:
        • For income of S$30,000 and above

          Applied Interest Rate (AIR): 1.65% per month

          Effective Interest Rate (EIR): 19.80% p.a.

          For income of S$20,000 to S$29,999

          Applied Interest Rate (AIR): 2.38% per month

          Effective Interest Rate (EIR): 28.55% p.a.

        • Customer will have to pay S$100 or 1% of the outstanding loan amount, whichever is higher as early repayment fee for early settlement of MoneyPlus Term Loan.
        • A processing fee of S$75 or 1% and 5% of the loan amount, whichever is higher has to be paid by customers with an income of S$30,000 and above, and S$20,000 to S$29,999, respectively.
        • Annual membership fee of S$80 is applicable.
        • Minimum monthly payment is S$50 or 3% of the outstanding balance, whichever is higher
        • If minimum monthly payment is not made, a late payment charge of S$80 or 2% of the amount due will be charged.
        • Cash advance fee is S$20 or 6% of the cash withdrawn, whichever is higher.
        • An overlimit fee of S$40 will be charged if the outstanding balance exceeds the credit limit.
        • Returned fund fee of S$40 will be charged for every returned cheque or GIRO payment.
        • Cash withdrawal can be done via BOC ATM centres.
        • Contact BOC customer service hotline for cash transfer to another bank account.
        • Easy repayments can be made via iNETS, cheques, AXS, and BOC branches.
      • Eligibility criteria for BOC MoneyPlus Line of Credit:
        • The minimum annual income requirement for foreigners is S$60,000, and Singaporeans and Permanent Residents is S$30,000 and above.
        • Applicant must be 21 years old or above.
      • How to apply for BOC MoneyPlus Line of Credit?
        • Visit the BOC website to download the application form, fill it, submit it along with the necessary income, age, and identity proof documents.
      • Documents required to apply for BOC MoneyPlus Line of Credit
        • Singaporeans and PR can submit a copy of NRIC (both sides).
        • Foreigners can submit passport or employment pass valid for at the least 9 months.
        • Salaried employees must submit the latest payslips or CPF statements, and tax notice of assessment for the last 6 months.
        • Self-employed, variable or commissioned income earners must submit income tax notice of assessment for the last 2 years or CPF Statement for the last 1 year.
    3. MoneyPlus Fund Transfer: Those with a MoneyPlus Account can enjoy up to 75% savings by signing up for BOC MoneyPlus Fund Transfer that offers extra cash at 0% interest rate for 3 or 6 months.
      • Features and benefits of MoneyPlus Fund Transfer:
        • You can transfer the approved funds to any bank savings account, BOC current account, any bank’s credit line or credit card account.
        • The minimum transfer amount is S$1,000.
        • The application for MoneyPlus Fund Transfer will be approved depending on whether or not your MoneyPlus Account is in good standing.
        • Interest rate for MoneyPlus Fund Transfer for Singaporeans and Permanent Residents with income of S$30,000 and above or foreigners with income of S$60,000 and above:
        • 0% interest rate for 3 months

          Processing fee: 1.8%

          Effective Interest Rate (EIR): 7.49% p.a.

          0% interest rate for 6 months

          Processing fee: 3%

          Effective Interest Rate (EIR): 6.38% p.a.

          0% interest rate for 12 months

          Processing fee: 5%

          Effective Interest Rate (EIR): 5.60% p.a.

        • Annual membership fee of S$80 is applicable.
        • Minimum monthly payment is S$50 or 3% of the outstanding balance, whichever is higher
        • If minimum monthly payment is not made, a late payment charge of S$80 or 2% of the amount due will be charged.
        • Cash advance fee is S$20 or 6% of the cash withdrawn, whichever is higher.
        • An overlimit fee of S$40 will be charged if the outstanding balance exceeds the credit limit.
        • Returned fund fee of S$40 will be charged for every returned cheque or GIRO payment.
        • Cash withdrawal can be done via BOC ATM centres.
        • Contact BOC customer service hotline for cash transfer to another bank account.
        • Easy repayments can be made via iNETS, cheques, AXS, and BOC branches.
      • Eligibility criteria for BOC MoneyPlus Fund Transfer:
        • Applicant must have BOC MoneyPlus Account with a minimum annual income of S$30,000 at the time of application.
        • To apply for BOC MoneyPlus Account, applicant must be minimum 21 years old and have a minimum annual income of S$20,000 for a Singaporean or PR, and S$60,000 for a foreigner.
      • How to apply for BOC MoneyPlus Fund Transfer?
        • Existing customers can visit the BOC website to download the application form. New customers will have to download a separate application form from the BOC website to open a MoneyPlus Account and MoneyPlus Term Loan.
        • The duly filled application form along with the necessary income, age, and identity proof documents can be submitted to the bank via fax at 6532 6318.
        • Alternatively, you can SMS (BOCMP<space>FT<space>Name<space>NRIC) to 79777 to apply for BOC MoneyPlus Fund Transfer. A BOC customer service representative will follow up with the application process.
      • Documents required to apply for BOC MoneyPlus Fund Transfer
        • Singaporeans and PR can submit a copy of NRIC (both sides).
        • Foreigners can submit passport or employment pass valid for at the least 9 months.
        • Salaried employees must submit the latest payslips or CPF statements, and tax notice of assessment for the last 6 months.
        • Self-employed, variable or commissioned income earners must submit income tax notice of assessment for the last 2 years or CPF Statement for the last 1 year.
    4. Debt Consolidation: The advantage of the Debt Consolidation Plan offered by Bank of China is that you can consolidate all your unsecured loan balances such as credit card payments and other unsecured loans into one single payment.
      • Features and benefits of BOC Debt Consolidation Plan:
        • The DCP personal loan ensures you experience one-stop service, designed to suit your convenience.
        • BOC offers one of the lowest interest rates for DCP.
        • You can make steady monthly payments for up to 10 years at a low interest rate on your high interest debt balances.
        • You also get a free credit card (BOC Family Card) during the DCP tenure with an annual fee waiver.
      • Eligibility criteria for BOC Debt Consolidation Plan:
        • Applicant must be a Singapore citizen or Permanent Resident.
        • The minimum annual income requirement is S$30,000.
        • Applicant must be 25 years old or above.
        • The total unsecured loan balance with interest should be above 12 times your monthly income.
      • How to apply for BOC DCP?
        • SMS (BOCCARD<space>DCWS<space>NAME<space>NRIC/Passport Number) to 79777
        • Contact the Bank of China’s 24-hour customer service hotline at 1800 338 5335.
      • What are the necessary documents required for BOC DCP application?
        • A copy of NRIC (both sides)
        • The latest Credit Bureau Report
        • The latest income documents such as payslips
        • The latest unsecured credit loan and credit card statements
        • Confirmation letter of the unbilled balances for unsecured credit instalment plans
    5. Overdraft Facility: Bank of China provides a revolving loan that can be drawn against your current account at an agreed upon interest rate.
      • Features and benefits of BOC overdraft facility:
        • Convenient and flexible repayments.
        • Interest rate is applicable only if the withdrawal exceeds the credit limit. Interest is charged on a daily basis.
      • Eligibility criteria for BOC OD:
        • Applicant can be a resident or non-resident.
        • Individuals and companies (sole-proprietorship and partnership firms) can apply for overdraft facility.
        • Applicant must be 21 to 65 years of age.
      • How to apply for BOC overdraft facility?
      • Visit the nearest Bank of China branch to apply for an overdraft facility against your current account.

    6. Mortgage Loans: Whether you want to purchase a new property or renovate an old one, BOC mortgage loans will come in handy for your investment and refinancing requirements.
      • Features and benefits of BOC mortgage loans:
        • Mortgage loan can be applied for by first-time buyers, investors, and upgraders. Mortgage loan can be used for refinancing.
        • No processing fee and annual fee waiver for BOC credit card throughout loan tenure.
        • BOC offers special rate for home renovation.
        • Mortgage loan - term loan or overdraft facility can be used for personal investment purposes. Similarly, housing loan can be used for refinancing, resale properties or new purchase.
      • Eligibility criteria for BOC mortgage loans:
        • Applicant must be a Singapore citizen, Permanent Resident or foreigner.
        • The minimum annual income requirement is S$24,000.
        • Applicant must be 21 to 65 years old.
      • How to apply for BOC mortgage loan?
      • Visit the nearest BOC branch to apply for a mortgage loan.

      • What are the necessary documents required for BOC mortgage loan application?
        • A copy of NRIC (both sides)
        • Sales or Purchase Agreement
        • The latest CPF statement
        • Loan statements of the previous 6 months, if applicable
        • Evidence of sale of property, if applicable
        • The latest income documents such as payslips and income tax assessments for last 2 years
        • Tenancy agreement, if applicable

    Eligibility and documentation

    The eligibility criteria to apply for a personal loan from BOC are:

    • Applicant must be a Singapore citizen or Permanent Resident. BOC offers personal loans to foreigners also.
    • The minimum annual income requirement is S$20,000.
    • Applicant must be 21 years old or above.

    The documents required to apply for a personal loan from BOC are:

    • Singaporeans and PR can submit a copy of NRIC (both sides).
    • Foreigners can submit passport or employment pass valid for at the least 9 months.
    • Salaried employees must submit the latest payslips or CPF statements, and tax notice of assessment for the last 6 months.
    • Self-employed, variable or commissioned income earners must submit income tax notice of assessment for the last 2 years or CPF Statement for the last 1 year.

    Fees and charges

    Listed below are the fees and charges applicable for BOC personal loans:

    • Annual membership fee of S$80 is applicable.
    • Minimum monthly payment is S$50 or 3% of the outstanding balance, whichever is higher
    • If minimum monthly payment is not made, a late payment charge of S$80 or 2% of the amount due will be charged.
    • Cash advance fee is S$20 or 6% of the cash withdrawn, whichever is higher.
    • An overlimit fee of S$40 will be charged if the outstanding balance exceeds the credit limit.
    • Returned fund fee of S$40 will be charged for every returned cheque or GIRO payment.

    How to apply for Bank of China personal loan?

    Visit the BOC website to download the application form for personal loans such as debt consolidation plan, overdraft facility, and mortgage loans. New customers will have to download a separate application form from the BOC website to open a MoneyPlus Account for MoneyPlus Term Loan, Line of Credit, and Fund Transfer. The duly filled application form along with the necessary income, age, and identity proof documents can be submitted to the bank via fax at 6532 6318. Alternatively, you can SMS to 79777 and a BOC customer service representative will follow up with the application process.

    News About Bank of China Personal Loan

    • Firms To Buy Stake of Chinese Bank

      Singapore based firms are planning to buy stake of the Postal Savings Bank of China when the bank releases its Initial Public Offering (IPO). The Postal Savings Bank of China has the highest number of outlets compared to all other lenders in China. The bank is sell its stake of 15 percent worth S$9.3 billion (US$6.5 billion) to foreign investors through a financial deal. Potential Singaporean investors who are expected to be a part of this deal include Temasek Holdings and DBS Bank. The DBS Group is planning to purchase shares US$250 million.

      Apart from the Singaporean investors, other global investors that are interested in purchasing stake of the Postal Savings Bank of China include International Finance Corporation, JPMorgan Chase and UBS Group.

      The Postal Savings Bank of China is fully owned by the China Post Group and is under the control of the government. The bank plans to expand its micro-finance, wealth management and investment banking portfolio through this deal.

      DBS Bank and the Beijing-based Postal Savings Bank of China signed an agreement in January, 2015 for setting up a joint venture finance company (a consumer company). DBS bank plans to invest S$27 million (120 million yuan) for purchasing 12 percent stake of this joint venture.

      26th September 2015

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