ICBC is a popular commercial bank in Singapore. This bank provides excellent personal banking services for different purposes. You can choose from a broad array of personal loan products to fund your requirements. A personal loan is a type of loan given for all kinds of needs without asking you for the purpose. Under the personal loan category of products, there are numerous options.
Let us take a look at some of the personal loans provided by ICBC:
Let us discuss the interest rates charged for some of the loans offered by ICBC:
ICBC Easy Loan is a loan product provided to ICBC credit card and debit cardholders. You do not have to provide any collateral for this loan. This product will give you real-time loan advances. You can enjoy making flexible repayments for this line of credit.
The loan interest rate or the installment fee rate for ICBC Easy Loan is 10% more than the benchmark interest rate fixed by the People’s Bank of China (PBOC). These rates will be for the same loan period and same loan type as given for the loans offered by PBOC.
ICBC has a personal loan option that will allow you to purchase a house that is constructed and then sold by a legal real estate person. You should have a good credit history and the ability to repay the loan.
The loan interest rate for this loan has a floating rate margin and it follows the benchmark rates of PBOC.
The table given below explains the RMB loan rates for ICBC loans. You can take a look at the appropriate loan rate according to your preference:
|Loan type||Loan period||Interest rate (p.a.)|
|Short term loans||6 months||4.35%|
|6 to 12 months||4.35%|
|Medium and long-term loans||1 to 3 years||4.75%|
|3 to 5 years||4.75%|
|More than 5 years||4.9%|
The discount for these loan rates is ascertained by including the points to the rediscount rate.
Loan prime rate (LPR) is the loan rate charged by commercial banks for its finest patrons. All the other loan rates are fixed according to this prime rate. The table given below shows the RMB loan prime rate for ICBC loans:
|Loan period||National Interbank Funding Centre’s LPR (%)||ICBC's LPR %|
This is an overview of the interest rates for personal loans provided by ICBC. You can apply for any personal loan either by calling the bank’s customer care centre or by visiting any ICBC branch for support.