• Personal Loan BYTES FROM OUR KITCHEN

    CIMB Personal Loan interest rates

    CIMB offers its customers an array of personal loans to choose from with attractive interest rate packages. Find below the different personal loans offered by the bank:

    • CIMB Education Loan.
    • CIMB Renovation Loan.
    • CIMB Portfolio Financing.
    • CIMB CashLite.
    • CIMB Debt Consolidation Plan.

    Types of interest rates offered by CIMB Bank for personal loans

    Depending on the type of personal loan that you apply for, CIMB offers the following types of interest rates:

    • The bank’s internal board rate called CIMB Prime Rate or CPR.
    • LIBOR – Also referred to as ICE LIBOR. It stands for Intercontinental Exchange London Interbank Offered Rate. Some of the leading banks across the world use LIBOR rates for short-term lending between banks.
    • SIBOR – Singapore Interbank Offered Rate. This is a reference interest rate used by many banks in Singapore for unsecured lending between banks.

    Interest rates offered on personal loans

    Education Loan:

    Standard Repayment Loan:

    Table 1: Find below the interest rates and monthly instalment amounts for an education loan of S$20,000 for Standard Repayment Loan

    Loan Tenure Monthly Rest Interest Rate (CIMB Prime Rate) Processing fee Effective Interest Rate (EIR) Monthly Instalment Amount
    1 year 0.11% p.a. 2% 9.18% p.a. S$1,716
    2 years 0.11% p.a. 2% 7.38% p.a. S$881
    3 years 0.11% p.a. 2% 6.75% p.a. S$603
    4 years 0.11% p.a. 2% 6.42% p.a. S$465
    5 years 0.11% p.a. 2% 6.23% p.a. S$382
    6 years 0.11% p.a. 2% 6.10% p.a. S$326
    7 years 0.11% p.a. 2% 6.00% p.a. S$287
    8 years 0.11% p.a. 2% 5.93% p.a. S$257
    9 years 0.11% p.a. 2% 5.88% p.a. S$235
    10 years 0.11% p.a. 2% 5.83% p.a. S$216

    Interest Servicing Repayment Loan:

    Under the interest servicing repayment loan, you will only pay the interest amount during the course of your study. The remaining loan amount comprising of the principal and interest amount will be paid later. The interest servicing period will vary depending on the duration of your course. The maximum interest servicing period under this loan is 4 years.

    Table 2: Find below the interest rates and repayment of principal and interest amounts for Interest Servicing Repayment Loan

    Loan Tenure Monthly Rest Interest Rate (CIMB Prime Rate) Processing fee Effective Interest Rate (EIR) Monthly Instalment Amount
    1 year CIMB Prime Rate+0.49% p.a. 2% NA S$100
    2 years CIMB Prime Rate+0.49% p.a. 2% NA S$100
    3 years CIMB Prime Rate+0.49% p.a. 2% NA S$100
    4 years CIMB Prime Rate+0.49% p.a. 2% NA S$100
    5 years 0.11% p.a. 2% 6.44% p.a. S$1,716
    6 years 0.11% p.a. 2% 6.34% p.a. S$881
    7 years 0.11% p.a. 2% 6.27% p.a. S$603
    8 years 0.11% p.a. 2% 6.21% p.a. S$465
    9 years 0.11% p.a. 2% 6.15% p.a. S$382
    10 years 0.11% p.a. 2% 6.11% p.a. S$326

    CIMB Renovation Loan:

    Table 3: Find below the interest rates and monthly instalment amounts for a renovation loan amount of S$10,000

    Loan Tenure Monthly Rest Interest Rate Processing Fee Effective Interest Rate (EIR) Monthly Instalment Amount
    1 year 2.98% p.a. (CPR-2.52%) 1% 4.85% p.a. S$847
    2 years 3.87% p.a. (CPR-1.63%) 1% 4.85% p.a. S$434
    3 years 4.18% p.a. (CPR-1.32%) 1% 4.85% p.a. S$297
    4 years 4.34% p.a. (CPR-1.16%) 1% 4.85% p.a. S$228
    5 years 4.44% p.a. (CPR-1.06%) 1% 4.85% p.a. S$187

    Note – CPR refers to CIMB Prime Rate

    CIMB Portfolio Financing:

    The interest rate for this loan is pegged to SIBOR or LIBOR rates.

    CIMB CashLite:

    Table 4: Find below the interest rates for CIMB CashLite for a loan amount of S$1,000 and above

    Tenure Interest Rate Effective Interest Rate (EIR)
    1 year Starting at 4.50% p.a. 8.21% p.a.
    2 years 8.41% p.a.
    3 years 8.41% p.a.
    4 years 8.36% p.a.
    5 years 8.29% p.a.

    Table 4: Find below your savings for a CIMB CashLite Personal Instalment Loan for a loan amount of S$20,000, with a loan tenure of 12 months, at an interest rate of 4.50% p.a. (EIR of 8.21% p.a.)

    Interest rate and Savings Amount
    Interest you will pay at 25% p.a. on other credit cards for a 12 month tenure S$5,000
    Interest you will pay with CIMB CashLite Personal Instalment Loan for a 12 month tenure S$900
    Your savings 82% OR S$4,100

    Promotions

    CIMB Debt Consolidation Plan promotion:

    Runtime – This is an ongoing promotion that started on February 7th, 2017 and will expire on April 30th, 2017.

    Particulars – Receive NTUC FairPrice Vouchers worth S$80 on approved applications for the CIMB Debt Consolidation Plan.

    Terms and Conditions:

    • This promotion is applicable for the first 200 approved CIMB Debt Consolidation Plan applications.
    • This promotion is valid on a first-come, first-serve basis and until stocks last.

    Applying for CIMB Personal Loans

    You can contact the bank through several ways and start the application process for a CIMB personal loan:

    • Call the bank – You can contact the bank on their Personal Banking Hotline Number on all days (Monday to Sunday) between 9 AM and 9 PM.
    • Email the bank – You can email the bank and you will receive a response within 1 business day.
    • Visit the bank – You can visit your nearest CIMB Bank branch, speak with a member of the staff and apply for a personal, directly in person.

    The CIMB contact information is available on the official CIMB Singapore website.

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