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    CIMB Personal Loan

    We found 1 CIMB Personal Loan

    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 4.5% p.a. EIR from 8.21% p.a.
    1-5 Years
    What you'll love
    What you need
    What you need to consider
    What it costs

    CIMB Personal Loan

    Personal Loan BYTES FROM OUR KITCHEN

    CIMB Personal Loan

    In times of personal emergencies or contingencies, financial support can prove to be invaluable. A personal loan is among the list of banking instruments designed to help you out of difficult financial situations which may arise predictably or unpredictably. Paying for a child’s tuition, sudden medical emergency, home improvement plans are kinds of expenditures which cannot be ignored.


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

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    CIMB Bank Personal Loan Minimum Age

    Atleast 21 years

     CIMB Bank Personal LoanMaximum Age

    Less than 60 Years

     CIMB Bank Personal Loan Eligible Employment Type

    Salaried or self-employed with regular income

     CIMB Bank Personal Loan Minimum Income

    Earn more than the minimum income required


    Your CIMB Bank Personal Loan amount eligibility is based on these factors

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     CIMB Bank Personal Loan Minimum Salary

    Minimum income required S$10,000

     CIMB Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Max loan of up to six (6) times of your monthly income or S$30,000

     CIMB Bank Personal Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible CIMB Bank Personal Loan amount by these steps

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     CIMB Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     CIMB Bank Personal Loan Tenure

    Choose longer tenure loan up to 5 Years


    Documentation needed to apply for an CIMB Bank 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

    CIMB Bank Personal Loan DetailsUpdated on 27 Apr 2017

    CIMB Bank Personal Loan Details
    Interest Rate 7.08 - 8.08%
    Minimum Income S$10,000
    Tenure 5 Years
    Guarantor Requirement guarantee required

    About CIMB Bank Personal Loan Singapore

    Make life comfortable with the flexibility of ready cash which is available for you, any time you need it and at low interest rates. CIMB Bank presents a range of personal loan products to help you with a variety of needs like home improvements, preparing for the next stage in life or even for academic or educational purposes. Under its personal loan umbrella, CIMB Bank offers the CIMB Renovation Loan, CIMB Education Loan and CIMB Portfolio Financing.

    Why Choose CIMB Personal Loan?

    There are various reasons why CIMB Personal Loans are some of the most preferred in Singapore. Read on to find out more.

    • Choice of three types of personal loans – CIMB Renovation Loan, CIMB Education Loan and CIMB Portfolio Financing
    • Each of these loans are extremely affordable and offer some of the lowest interest rates.
    • Customers can take advantage of the flexible repayment tenure, a feature common to each of these three personal loans.
    • The CIMB Renovation Loan has been designed to meet your home redesigning needs.
    • The CIMB Education Loan is designed to cover academic expenses like tuition fees, cost of accommodation, textbooks, computer equipment etc.
    • Expand your investment opportunities and invest smartly with the CIMB Portfolio Financing.

    Types of CIMB Personal Loan

    The following three types of CIMB Personal Loans are available in Singapore:

    CIMB offers a range of promotions from time to time with its loan products. At the moment, the bank is not offering any promotions with its personal loans. We will update this page if and when the bank offers such promotions in the future and so keep visiting this page.

    Each type of loan offered as part of the CIMB Personal Loans carries different rates of interest. These interest rates are dependent on different factors like tenure of loan, duration of course period (in case of CIMB Education Loan) and more.

    CIMB Renovation Loan

    Loan Tenure Monthly Rest Interest Rate (per annum) Processing Fee Effective Interest Rate Monthly

    Instalment Amount

    1 year

    Prime Rate of the bank – 0.13 percent

    1 percent

    7.25 percent S$ 2,574
    2 years 6.36 percent S$1,322
    3 years 6.04 percent S$905
    4 years 5.88 percent S$696
    5 years 5.79 percent S$572

    The above data has been calculated for a loan amount of S$30,000

    CIMB Education Loan

    Loan Tenure Monthly Rest Interest Rate (per annum Processing Fee Effective Interest

    Rate

    Monthly

    Instalment

    1 year

    Prime Rate of the bank -0.11 percent

    2 percent

    9.18 percent S$1,716
    2 years 7.38 percent S$881
    3 years 6.75 percent S$603
    4 years 6.42 percent S$465
    5 years 6.23 percent S$382
    6 years 6.10 percent S$326
    7 years 6.00 percent S$287
    8 years 5.93 percent S$257
    9 years 5.88 percent S$235
    10 years 5.83 percent S$216

    The above data has been calculated for a loan amount of S$20,000.

    CIMB Renovation Loan

    Fees Type Amount
    Cashier’s Orders S$10 each
    Cancellation Fee 1 percent of amount prepaid
    Prepayment Fee 1 percent of the remaining loan amount
    Fee for Late Payment S$80
    Processing Fee 1 percent of the loan amount

    CIMB Education Loan

    Fees Type Amount
    Cashier’s Orders S$20 each
    Cancellation Fee 1 percent of amount prepaid
    Prepayment Fee 1 percent of the remaining loan amount
    Fee for Late Payment S$80
    Processing Fee 2 percent of the loan amount

    CIMB Portfolio Financing

    Fees Type Amount
    Fee For Account Maintenance S$20 +GST per quarter
    Interest Fee (Default) 5% more than the prevailing rate
    Cancellation Fee S$500 or 1% of the Facility Limit, whichever is higher
    Cost of Break Fund It will be determined only when early repayment of capital is requested

    Each of the loans under the CIMB Personal Loan umbrella offer unique features and benefits to suit different needs and requirements. Following are some of the notable features and benefits of each of the three personal loans offered by CIMB Bank.

    1. CIMB Renovation Loan
      • You can avail this loan to cover the cost of renovating any kind of residential property which is completed or even under construction.
      • This loan comes with a maximum tenure of up to 5 years.
      • Low processing fee.
      • Very competitive interest rates.
      • The Renovation Loan offered by CIMB Singapore can provide finance up to an amount that is 6 times of your monthly income or S$30,000, whichever is lower.
      • Minimum loan amount is as low as S$10,000.
    2. CIMB Education Loan
      • Competitive and affordable interest rates
      • Maximum tenure of up to 10 years
      • Minimum loan amount as low as S$1,000
      • This loan can be availed to a maximum amount that is 8 times your monthly income or
      • S$200,000, whichever is lower.
      • Flexible repayment schemes to suit your convenience. Choose from:
        • Standard RepaymentScheme allows you to repay both the principal amount along with the interest on drawdown.
        • Interest Servicing Scheme where the applicant has to repay only the interest amount during the course of their study, also known as the ‘interest servicing period’. The principal amount and the interest of the loan can be repaid thereafter.
    3. CIMB Portfolio Financing
      • This is essentially a revolving credit facility which carries no processing or annual fee
      • Can be secured by a wide range of collaterals like approved stocks, shares, structured deposits and fixed deposits.
      • This is an interest-only loan where the principal is automatically rolled over. Applicants are required to pay interest only at the end of the interest tenure of each drawdown.
      • Available in SGD or USD, the carries attractive interest rates and loan to value of up to 100%, depending on the type of collateral.
    1. CIMB Renovation Loan
      • Applicants must be Singaporeans or Permanent Residents
      • Must be between 21 to 50 years of age
      • Any joint applicant for the loan must be an immediate family member – spouse, parent or sibling
      • Self-employed applicants must have been involved in the current business for a minimum of two years
    2. CIMB Education Loan
      • Applicants must be Singaporeans or Permanent Residents
      • Applicants must be between 16 to 50 years of age
      • The minimum annual income of S$24,000 for principal applicants (applicable for individual applicants) or guarantor (if applicable)
      • A Guarantor is required if the applicant is:
        • Below 21 years old
        • Doesn’t qualify for the minimum income criteria of S$2,000 per month
        • Requested loan amount is more than 8 times of the applicant’s monthly income
        • Applicant is taking the Interest Servicing scheme
    3. CIMB Portfolio Financing
      • Applicant must be 21 years or above
      • Open to Singaporeans and foreigners

    In order to apply for any of the loans offered by CIMB Bank, customers need to furnish the following documents.

    1. CIMB Renovation Loan
    2. Basic Documents

      • Duly filled and signed Application Form.
      • Copy of the NRIC (National Registration Identity Card) – front & back portion.
      • Renovation Permit Proof (if applicable).
      • Proof of ownership of property which is to be renovated.
      • Original contractor’s contract or invoice duly signed by the applicant(s) and contractor.
      • Proof of billing – utility bills, internet, cable TV bills, bank statements.
      • Proof of Relationship between principal and joint applicant (birth/marriage certificate).

      Income Documents

      Salaried Employees Commission based / Variable-income Employees Self-employed
      • Recent 3 months’ pay slips; OR
      • Last 12 months’ CPF contribution history statement; OR
      • Latest Income Tax Notice of Assessment
      • Last 2 years’ employer’s commission statement; OR
      • Last 2 years’ Income Tax Notice of Assessment
      • Last 2 years’ Income Tax Notice of Assessment
    3. CIMB Education Loan
    4. Basic

      • Copy of the NRIC (National Registration Identity Card) of the principal and guarantor.
      • Duly filled application form.
      • Acceptance Letter from the educational institution giving details about the type & duration of the course along with total course fee.
      • Proof of billing – utility bills, internet, cable TV bills, bank statements.
      • Proof of Relationship between principal and joint applicant - birth/marriage certificate (if applicable)

      Income

      Salaried Employees Commission based / Variable-income Employees Self-employed
      • Recent 3 months’ pay slips; OR
      • Last 12 months’ CPF contribution history statement; OR
      • Latest Income Tax Notice of Assessment
      • Last 2 years’ employer’s commission statement; OR
      • Last 2 years’ Income Tax Notice of Assessment
      • Last 2 years’ Income Tax Notice of Assessment
    5. CIMB Portfolio Financing
    6. Basic

      • Copy of NRIC (National Registration Identity Card) / Passport of applicant

      Income

      • Latest computerized payslip (for salaried applicants)
      • CPF statement for last 12 months contribution history (for salaried applicants)
      • 2 years income tax assessment (for self-employed applicants)
    1. What is the processing fee applicable on the CIMB Renovation Loan?
    2. A processing fee of 1% shall be charged once the loan is approved.

    3. Does the CIMB Renovation Loan carry a Late Payment Fee?
    4. Yes, a late payment fee of S$80 will be payable in case of late payments.

    5. Is there any charge applicable for issuance of Cashier’s Order with the CIMB Renovation Loan?
    6. Yes, a charge of S$10 will be charged for each cashier’s order.

    7. What is the maximum tenure available for the CIMB Education Loan?
    8. You can repay the loan within a maximum tenure of 10 years.

    9. Is there a processing fee charged with the CIMB Education Loan?
    10. Yes, a processing fee of 2% shall be collected up-front once the loan is approved.

    11. What are some of the fees charged as part of CIMB Portfolio Financing?
    12. Customers will be charged fees like Custody Account Maintenance Fee, Share Transfer Fee (Inward, Outward, and for sale of shares), Stamping Fee, etc.

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