CIMB Bank Singapore is part of the CIMB Group, which is the fifth largest banking group among the Association of Southeast Asian Nations (ASEAN) countries. CIMB Singapore offers all kinds of financial services and products – credit cards, personal loans, home loans, car financing, investment and insurance options, etc. CIMB Bank’s personal loans cover a wide variety of personal needs and come at reasonable interest rates.
Atleast 21 years
Less than 60 Years
Salaried or self-employed with regular income
Earn more than the minimum income required
Minimum income required S$10,000
Maximum allowed personal loan is Max loan of up to six (6) times of your monthly income or S$30,000
EMIs of other loans lower your eligibility
Pay off your credit card bills
Choose longer tenure loan up to 5 Years
|Interest Rate||7.08 - 8.08%|
|Guarantor Requirement||guarantee required|
Here are the key reasons why CIMB Bank’s personal loans are the most suitable for you:
CIMB has several loan products under its Personal Loan category. They are:
The main features and benefits of a CIMB personal loan are:
The main parameters that an applicant has to meet to get a CIMB personal loan are:
The following documents must be submitted to apply for CIMB Personal Loans:
Depending on the type of personal loan, additional documents may be requested.
The bank is offering NTUC FairPrice Vouchers worth S$80 if your application for the CIMB Debt Consolidation Plan is approved before 31st May, 2017.
The interest rates charged by CIMB on its personal loan products are given in the table below:
|Product||Tenure||Flat Interest Rate (p.a.)||Effective Interest Rate (EIR p.a.)|
|CIMB CashLite||1 year||4.5%||8.21%|
|CIMB Portfolio Financing||Any tenure||Linked to LIBOR or SIBOR|
|CIMB Debt Consolidation||Up to 8 years||Depends on your income and loan amount|
|CIMB Education Loan||The first 4 years (during study tenure)||CIMB Prime Rate + 0.49% p.a.||NA|
|5 years||CIMB Prime Rate - 0.11% p.a.||6.44%|
|CIMB Renovation Loan||1 year||2.98%||4.85%|
The fees and charges associated with CIMB’s personal loan products are:
Other minor fees such as cheque cancellation fee annual fee are also applicable on certain kinds of loans.
If you want to know what your Equated Monthly Instalments (EMI) for your loan are, in order to plan your finances well, an EMI Calculator is the way to go. It is a simple and easy-to-use tool. CIMB has three calculators on its website: the Renovation Loan EMI Calculator, the Education Loan Standard Repayment Calculator and the Education Loan Interest Servicing Repayment Calculator.
For example, in the Renovation Loan EMI Calculator, you need to input just the loan amount and tenure. If the loan amount is S$12,000 and the duration is 3 years, the calculator will tell you that the monthly repayment amount will be S$356.
For the Education Loan Interest Servicing Repayment Calculator, you need to enter the loan amount, course duration and loan period. E.g., for a loan amount of S$25,000, course duration of 36 months and loan tenure of 10 years, the calculator will tell you that the interest servicing period would be 3.5 years and the monthly interest during the servicing period would be S$125 and the EMI after the servicing period would be S$381.
You can apply for a personal loan from CIMB through the following ways: