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Standard Chartered Bank is a product of the mergers between Chartered Bank of India, China and Australia as well as the Standard Bank of British South Africa in the year 1969. Today, it is one of the leading banks in the world. The bank is spread over 1200 offices all across the world to provide financial solutions and banking products to existing and new customers alike. Standard Chartered Bank is one of the oldest banks in Singapore that has been providing financial solutions to its citizen for the past 155 years. It also among the first foreign banks to have received the QFB or Qualifying full Bank license. Through rapid expansion and mergers, today the bank is present in more than 70 countries around the globe including South Asia, Asia Pacific, the Middle East and UK to name a few. It has an extensive network of over 1700 branches and has employed more than 86,000 employees from different nationalities to cater to the needs of its customers hailing from different backgrounds.
Any loans are normally offered by banks with an interest rate but with Standard Chartered you can convert purchases made using your Credit Card into instalments at a 0% interest rate. Moreover, the bank also provides additional promotional offers and added benefits that is pocket friendly to any customer looking to maintain their current lifestyle without having to make regular heavy payments.
Using the EasyPay facility offered by Standard Chartered Bank, you can now manage your bills in a much simpler manner than before by converting your purchases into interest free installment plans.
Below is an illustration of the figures for both, 6 and 12 months that includes your monthly installment, Effective Interest Rate and Service Charge –
|EasyPay Loan||Instalments for 6 months||Instalments for 12 months|
|Monthly instalment payment||SGD 500||SGD 250|
|service fee – One Time Fee||5 percent (SGD150)||5 percent (SGD150)|
|Effective Interest Rate or EIR||17.6 percent per annum||9.5 percent per annum|
Note: The figures mentioned in the table are for the purpose of illustration. The interest rates are subject to change as per the discretion of the bank.
Once the request has been submitted to the bank, it will take 5 to 7 working days for the bank to determine if they want to accept or reject your request. The decision will be taken as per the sole discretion of the bank.
If you do have online banking, you can instantly register for the same. However, you also have the option of calling the bank to apply for EasyPay. The Standard Chartered Phone Banking Team is available to assist you 24 hours a day.
The CashBack of SGD 100 will directly be credited into your account by February 26th, 2016.
You can convert all retail transactions such as travel, shopping, education, insurance premiums, taxes and many more into EasyPay installment plan. Furthermore, you can convert both, local as well as international transactions into EasyPay. For any conversion of SGD 2000 and above, you will enjoy interest free installments.
You can choose between the flexible tenures of 6 or 12 months to convert your purchases into interest free installments.