The personal loan offered by CIMB is known as CIMB CashLite. With CIMB CashLite, you will get a minimum loan amount of S$1,000 with the loan tenure ranging from 1 to 5 years.
The following table shows the interest rate applied with CIMB CashLite:
|Tenure (years)||Interest Rate (% p.a.)||Effective Interest Rate (% p.a.)|
Let us say that you opt for a term loan amount of S$10,000 for a tenure of 2 years. The Effective Interest Rate applied would be 8.41% p.a. When you input these numbers to calculate the monthly instalments, you will get the following results:
|Total Interest Cost||S$899.48|
The numbers taken above are only meant for the purpose of illustration and are approximate values. Do make sure you get in touch with the specific bank to find out the actual numbers. CIMB Singapore also offers promotional interest rates quite frequently and you can check the promotional offers and interest rates on personal loans offered by CIMB on their website.