The CIMB CashLite is a personal installment loan that offers its customers very low interest rate packages, flexible loan tenures and added features and benefits to plan and manage your finances better.
For a loan amount of SGD 1000 and above, please find below the loan tenure and amount for CIMB CashLite –
|Tenure||Rate of Interest||Effective Interest Rate|
|1 Year||7.89 percent per annum||14.26 percent per annum|
|2 Years||7.32 percent per annum||13.48 percent per annum|
|3 Years||7.36 percent per annum||13.45 percent per annum|
|4 Years||7.48 percent per annum||13.48 percent per annum|
|5 Years||8.08 percent per annum||14.25 percent per annum|
Table 2 – Illustration
Find below how much you can save using CIMB CashLite if you apply for this personal instalment loan for an amount if SGD 10, 000 for a loan repayment tenure of 24 months with an interest rate of 7.32% per annum –
|Interest and Savings||Amount|
|Interest Payable at 24.9% per annum with any other credit card for a period of 24 months||SGD 4,980|
|Interest Payable when you use CIMB CashLite Personal Instalment Loan for a period 24 months||SGD 1,464|
|YOU WILL SAVE A TOTAL OF 71%||SGD 3,516|
Minimum Monthly Payment
Late Payment Charges
Cash Advance Fee
6% of the amount of the amount you withdraw. Please note that the minimum amount which is chargeable is SGD 15.
Early Termination Fee
If you wish you terminate your CIMB CashLite account early, you will have to pay an early termination fee of SGD 250 OR 3% of your outstanding principal amount, depending on which is higher.
For more information on the fees and charges charged by the bank, please feel free to contact CIMB bank.
You can apply for the CIMB CashLite in 2 ways. They are as follows –
CIMB CashLite is a personal installment loan that allows you to manage your finances much better by providing you easy access to cash through your CIMB Credit Card that you can use for any intent and purpose. This convenient installment loan comes with one of the lowest interest rates and allows you to choose a tenure of your choice and pay interest on it accordingly instead of upfront, thereby lightening your financial load.
You can lighten your financial load and manage your expenses much better by using the CIMB CashLite installment loan. This loan allows you to choose your own loan tenure and pay interest accordingly instead of upfront. You can choose between a loan tenure of 1 year, 2 years, 3 years, 4 years or 5 years.
The interest rate charged on the CIMB CashLite installment loan varies depending on the loan tenure chosen by you. CIMB offers one of the most competitive interest rates that starts as low as 7.32% per annum if you choose a tenure of 2 years for this loan with an EIR (Effective Interest Rate) of 13.48% per annum and up to a maximum of 8.08% per annum for a 5 years tenure with an EIR (Effective Interest Rate) of 14.25% per annum.
Yes. If you choose to terminate your CIMB CashLite account early, you will have to pay an early termination fee of SGD 250 OR 3% of your outstanding principal amount, depending on which is higher.
Using the CIMB CashLite Personal Instalment Loan you can borrow up to a maximum of 90% of your credit limit on your credit card, thereby helping you manage your finances better.