• Credit Card BYTES FROM OUR KITCHEN

    CIMB CashLite

    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.

    CIMB CashLite Features and Benefits –

    • Low Interest Rate Packages – CIMB provides its cardmembers preferential rates for this loan that will maximize your savings.
    • Flexible Loan Tenures – You can choose from an array of flexible loan tenures that starts at 1 years and goes up to 5 years for the repayment of this loan.
    • Generous Line of Credit – You can borrow up to 90% of your credit limit on your CIMB credit card for this loan which help you improve your financial health significantly.

    Interest Rate Structure and Repayment Tenure for CIMB CashLite

    For a loan amount of SGD 1000 and above, please find below the loan tenure and amount for CIMB CashLite –

    Table 1

    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

    Fees and Charges for CIMB CashLite

    Minimum Monthly Payment

    • The minimum monthly payment amount for CIMB CashLite is SGD 50 or 3% of your outstanding balance, depending on which is higher + any outstanding amount overdue from a previous statement.
    • For CIMB CashLite, you will have to pay your monthly instalment in full along with any other outstanding amount overdue from your previous statement. If your monthly instalment amount becomes overdue, you will have to pay interest and late payment charges.

    Late Payment Charges

    • If your outstanding balance is SGD 50 or less and you have missed your payment due date, you will be subjected to a late payment charge of SGD 60.
    • If your outstanding balance is more than SGD 50 and you have not the minimum payment on your credit card, you will be subjected to a late payment charge of SGD 60.

    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.

    Applying for CIMB CashLite

    You can apply for the CIMB CashLite in 2 ways. They are as follows –

    • You can leave your personal and contact details on the LUCY (Let Us Call You) form which is available on the official CIMB Singapore website and a bank representative will get back to you on your preferred mode of communication you entered on the form.
    • The CIMB CashLite application form is available on the official CIMB Singapore website. You can download the form from the website, take a print out of this form, fill in the required details and then post the application to the bank with the address printed on the form.

    Frequently Asked Questions

    1. What is the CIMB CashLite Personal Instalment Loan?
    2. 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.

    3. What are the loan tenures offered by CIMB CashLite Personal Instalment Loan?
    4. 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.

    5. What is the interest rate charged on the CIMB CashLite Personal Instalment Loan?
    6. 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.

    7. Does CIMB charge a termination fee if I want to terminate my CIMB CashLite Personal Instalment Loan before the expiration of my loan tenure?
    8. 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.

    9. What is the maximum amount offered by the CIMB CashLite Personal Instalment Loan?
    10. 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.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.