Cash woes? A personal loan to the rescue!
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    We found 2 Bank of China Personal Loan
    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 7% p.a. EIR from 7.78% p.a.
    Up to 10 years
    What you'll love
    What you need
    What you need to consider
    From 6.38% p.a. From 14.58% p.a.
    1-3 years
    What you'll love
    What you need
    What it costs

    Bank of China Personal Loan

    Borrow Up to 10 Times Your Monthly Income

    Want to enjoy the convenience of structured monthly payments on your loan? Or do you fancy a credit line because it offers you instant cash for your emergency needs? You may want to consider loans from Bank of China (BOC) to enjoy such benefits and more. With applied interest rates as low as 0% p.a., you can save significantly if you choose the right BOC loan. Read on to know about your loan options.

    Compare Personal Loan Options from BOC

    The table below shows the different personal loans offered by BOC and some other relevant features associated with each:

    Loan type Loan amount Tenure Processing fee
    BOC $martLoan Up to S$10,000 1 to 7 years  3%
    MoneyPlus Funds Transfer A minimum of S$1,000 3 to 12 months Up to 5%
    MoneyPlus Term Loan - Up to 36 months up to 5% or S$75, whichever is greater
    MoneyPlus Line of Credit Up to four times your monthly income - up to 5% or S$75, whichever is greater
    BOC Debt Consolidation Plan Equal to outstanding balance on your existing credit As stated in the approval letter As stated in the approval letter
    Overdraft Facility - - -

    Eligible for Your Chosen BOC Loan?

    In order to be eligible, you have to satisfy the following conditions:

    • Aged between 21 years and 65 years (Could be slightly different for certain BOC loans).
    • Earning at least S$20,000 p.a. (Could be different for some loans). Foreigners earning less than S$60,000 may not be eligible.
    • Singaporeans and PRs are eligible for all BOC loans. Foreigners may not be eligible for certain products.

    There could be additional prerequisites for specific BOC loans. Turn to the specific product pages for more information.

    Interest Rates of BOC Loans

    Thanks to competitive interest rates on BOC loans, you can make significant savings.

    Here are the list of BOC loans with interest rates:

    Name of the Loan Flat Interest Rate Effective Interest Rate
    BOC Debt Consolidation Plan Starts from 7.8% p.a. Starts from 8.63% p.a.
    Singapore Dollar Overdraft Facility
    • Prime rate – (0.5% to 1%)
    • Rate can’t be less than 1% over and above 3 months’ SGD SIBOR
    US Dollar Overdraft Facility
    • USD prime rate – (0.5% to 1%)
    • Rate can’t be less than 1% over and above 3 months’ USD LIBOR
    MoneyPlus Fund Transfer 0% From 5.6% p.a. to 7.49% p.a.
    MoneyPlus Line of Credit From 1.9% per month to 2.38% per month From 22.8% p.a. to 28.55% p.a.
    MoneyPlus Term Loan From 6.38% p.a. to 8.68% p.a. From 14.58% p.a. to 19.46% p.a.
    BOC $martLoan From 6.48% p.a. to 8.86% p.a. From 13.86% p.a. to 18.72% p.a.

    Are Fees and Charges on BOC Loans Affordable?

    Are you worried that you may have to pay too many fees and charges on loans from BOC? Before you draw a conclusion, get an idea on the type of charges applicable and the fee rates here:

    • A processing fee that starts from 1.8% and goes up to 5%.
    • Minimum monthly payment.
    • Late payment charges.
    • Annual membership charges.
    • Overlimit fee.
    • Overdraft charges.
    • Cancellation fee.
    • Service charges such as fees on returned cheques or unsuccessful GIRO payments.

    [Disclaimer: Not all the charges mentioned above may apply to a particular loan. We have simply tried to compile all the charges that apply to various BOC loans.]


    Documents Required:

    Here are the list of bank of china personal loan requirements

    For salaried employee For self-employed, a variable earner, or a commissioned employee For foreigners
    A copy of your NRIC
    latest payslip and your latest Income Tax (NOA)
    Evidence of CPF contributions made by you over the last 6 months & latest NOA
    A copy of your NRIC
    NOA evidencing your tax contributions for the last 2 years.
    Proof of contributions made by you to your CPF Account over the last 1 year.
    A copy of your employment pass and passport

    Repayment Summary

    Let us assume a loan amount of 90% of the credit limit which is S$10,000. The table below shows the monthly instalment amount and the effective interest rate applied:

    Tenure (years) Applied interest rate (% p.a.) Equivalent flat interest rates(% p.a.) Monthly instalment amount Effective interest rate (% p.a.)
    1 12 6.62 S$824 18.72
    2 12 6.48 S$437 15.73
    3 12 6.52 S$308 14.69
    4 12 6.57 S$245 14.18

    Convenient modes of repayment

    Subject to restrictions imposed by the bank and the loan product that you have chosen, you may be able to make payments via internet banking, mobile banking, AXS, crossed cheques, online bill payment facilities offered by other banks, iNETS, FAST payment facility, ATMs, and BOC branches.

    Contact Number

    If you have any queries in relation to BOC personal loans, you can call the 24/7 customer service hotline number at 1800 338 5335.

    How to Apply for BOC personal loan?

    Depending on the loan of your choice, you may be able to employ any of the following channels to submit your application:

    • Download the relevant form and send it to the bank after filling it up.
    • Send an SMS to the bank.
    • Contact the bank’s customer service.

    [Disclaimer: You may not enjoy all the options stated above for all BOC loans. Check with the bank for more information.]

    Frequently Asked Questions

    Q. Is there any cash advance fee associated with the MoneyPlus Line of Credit?

    A. Yes. You will have to pay 6% of sum taken out or S$20, whichever is more, will be valid on every withdrawal.

    Q. After the expiry of the loan tenure, how will the unsettled balances be charged?

    A. Any remaining unsettled amount will be charged at the current MoneyPlus Line of Credit rate.

    Q. Which loan product is given the highest priority for settlement?

    A. MoneyPlus Term Loan is given the highest priority among all other personal loan products.

    Q. What is the applied interest rate with a loan tenure of seven years?

    A. With a loan tenure of seven years, the applied interest rate is 15%.

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