• Personal Loan BYTES FROM OUR KITCHEN

    CIMB Personal Loan Eligibility

    CIMB was initially established as Bian Chiang Bank in the year 1924 in Malaysia. Today, it is one of the leading banks in the world and one of the largest Islamic investment banks in Asia. Through mergers and rapid expansion, the bank has its presence felt in 17 countries across the world and is currently the fifth largest bank in the Association of Southeast Asian Nations (ASEAN). The bank has a network of over 40,000 employees spread across different countries to be provide top notch financial solutions and banking products to its customers. The continuing brilliant performance of the bank has translated in terms of the bank’s assets, which by June 2015 was worth RM 438.3 billion. CIMB provides an array of products and solutions ranging from Cards, Loans, Insurance and many more.

    About CIMB Personal Loan

    CIMB provides a customer a variety of CIMB Personal Loan options –

    • CIMB Education Loan
    • CIMB Renovation Loan
    • CIMB Portfolio Financing
    • CIMB CashLite

    CIMB Education Loan

    You can now achieve all your aspirations with a strong educational background using the CIMB Education Loan. All you need to do is to focus on your education and not stress about tuition fees because with the CIMB Education Loan, you are charged very low processing fee and attractive interest rate packages. The most striking feature about this loan is the Interest Servicing Fee under which you only have to pay the interest on your loan during the course of your education.

    Eligibility Criteria for CIMB Education Loan

    Residential Status Requirement

    1. Singapore Citizens
    2. Singapore Permanent Residents
    3. Foreigners are not eligible for this loan

    Age Requirement

    1. The applicant must be between the ages of 16 years and 50 years old.

    Minimum Income Requirement

    1. The minimum income requirement is SGD 24, 000 per annum for the Principal Applicant, in case of an individual application or the Guarantor, if applicable.

    Minimum Loan Amount Requirement

    1. The minimum loan amount for the CIMB Education Loan is SGD 1000.

    Guarantor Requirements under the following circumstances

    1. In case the applicant is below 21 years of age
    2. If the applicant does not meet the minimum income criteria of SGD 24, 000 per annum (SGD 2000 per month).
    3. If the requested loan amount is more than 8 times the monthly income of the applicant
    4. In case the applicant is opting for the Interest Servicing Scheme. For more information on this scheme, please feel free to contact the bank.

    CIMB Renovation Loan

    Feel proud of your home by making the changes you have always wanted to make it more beautiful. Whether you want to make extra space for your growing family, a study room before your child starts school, a play area or more personal space and increasing privacy, you can now make all these additions using the CIMB Renovation Loan. This loan will cover all your renovation needs for any residential property be it completed or still under construction at a very reasonable interest rate and a low processing fee.

    Eligibility Criteria for CIMB Renovation Loan

    Residential Status Requirement

    1. Singapore Citizens
    2. Singapore Permanent Residents
    3. Foreigners are not eligible for this loan

    Age Requirement

    1. The applicant must be minimum 21 years of age and must not be older than 50 years.

    Minimum Income Requirement

    1. The minimum income per annum for both, a single applicant as well as joint applicants must be SGD 24, 000.
    2. In case of joint applications, the joint applicant must be an immediate family member only – spouse, parent or a sibling.

    Minimum Loan Amount Requirement

    1. To qualify for this loan, the minimum loan amount must be SGD 10, 000.

    CIMB Portfolio Financing

    This loan is based on a revolving credit facility. You can secure a CIMB Portfolio Financing Loan using different types of collateral such as stocks and shares, fixed deposit, structured deposits and approved unit trusts.

    Eligibility Criteria for CIMB Portfolio Financing

    Residential Status Requirement

    1. Singapore Citizens
    2. Singapore Permanent Residents
    3. Foreigners

    Age Requirement

    1. The applicant must be at least 21 years old or above

    CIMB CashLite – Personal Installment Loan

    This is a Personal Installment Loan that helps you save big due to the very low interest rate structures offered and flexible tenures of up to 5 years. You can borrow up to 90% of your credit limit using CIMB CashLite and get up to 100% financing.

    Eligibility Criteria for CIMB CashLite – Personal Installment Loan

    • This loan is only applicable to CIMB Credit Cardmembers
    • Only Principal Cardmembers can apply for CIMB CashLite
    • The minimum loan amount for CIMB CashLite is SGD 1000. This value is subject to change as per the discretion of the bank.
    • The loan amount applied for cannot exceed 90% of the available credit limit on your card.

    Explore Other Banks Eligibility in Singapore

    Frequently Asked Questions?

    1. What CIMB Personal Loan is a foreigner eligible to apply for?
    2. Foreigners are eligible to apply for the CIMB Portfolio Financing Loan provided all other criteria have been met. If you own a CIMB Credit Card, you can also apply for CIMB CashLite.

    3. I am 16 years old. I do not have an annual income on SGD 24, 000. Can I still apply for the CIMB Education Loan for my higher studies?
    4. Yes. However you need to apply for the loan using a Guarantor. Your guarantor must be above 21 years of age and must have an annual income of SGD 24,000. Without meeting these requirements you cannot apply for the CIMB Education Loan.

    5. What is the minimum loan amount to apply for the CIMB Renovation Loan?
    6. To qualify for a CIMB Renovation Loan, you must apply for a minimum loan amount of SGD 10,000. If you require a loan lesser than this amount, you are not eligible to apply for this loan.

    7. Is there a maximum age requirement for the CIMB Portfolio Financing Loan?
    8. No. CIMB Portfolio Financing only has a minimum age requirement where the applicant must at least 21 years of age. There is no maximum age limit, however, the applicant must meet all the other eligibility criteria to qualify for this loan.

    9. What is the maximum amount to apply for the CIMB CashLite – Personal Installment Loan?
    10. You can apply for CIMB CashLite for up to 90% of your available credit limit. The minimum amount is SGD 1000. The maximum amount will depend on your available credit limit.

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