• Personal Loan BYTES FROM OUR KITCHEN

    CIMB Cashlite

    CIMB Cashlite Personal Instalment Loan is a loan product that has been designed to offer you with the financial assistance that you require to cope with a financial emergency or to fulfil your desires. It offers a wide range of products to Singaporeans including credit cards, debit card, home loans, personal loans, insurance, savings account, current account etc.

    Why Choose CIMB Cashlite Personal Instalment Loan?

    CIMB offers you transparency and makes sure that you have a clear idea of the terms and conditions associated with the financial products offered. If you choose CIMB Cashlite Personal Instalment loan, you will enjoy flexible terms, repayment options and other beneficial features. You will also benefit from the excellent quality of service offered by the bank as you will get answers to your queries and questions about CIMB personal loan products and services.

    Features and Benefits

    The features and benefits of CIMB Cashlite personal loan are as follows:

    • Low rate of interest – The interest rate charged with the loan is low and so your overall cost of borrowing will not be abnormally high and the bank also offers preferential rates.
    • Flexible loan tenors – You can choose from a range of flexible tenors of 1 year, 2 years, 3 years, 4 years or 5 years and make sure that you do not have any difficulty in repaying the loan.
    • High credit line – You can easily fix your financial health by getting up to 90% of your credit limit as a loan.
    • Flexible loan amounts– The amount that you borrow starts from S$1,000 and can even go beyond S$50,000.

    Interest Rates

    Loan amount of S$1,000 and above

    Tenor of the Loan Rate of Interest(% p.a.) Effective Rate of Interest(% p.a.)

    12 months

    4.50

    8.21

    24 months

    4.50

    8.41

    36 months

    4.50

    8.41

    48 months

    4.50

    8.36

    60 months

    4.50

    8.29

    Savings

    Here is an illustration of the amount that you can save, if you get an approved loan amount of S$40,000 for a period of 12 months at an interest rate of 4.50% p.a. (EIR 8.21% p.a.)

    Type of Loan Loan Amount

    Unsettled interest at 25% p.a. with other cards for 12 months

    S$10,000

    Unsettled interest with CIMB CashLite Personal Instalment Loan for 12 months

    S$1,800

    Your savings

    S$8,200

    Fees and Charges

    Interest free period

    23 days of interest free period is offered from the date of statement in case you pay for all your purchases in full by the due date.

    Type of Fee

    Amount charged

    Interest on cash advances

    The interest will be charged at 2.333% per month (the effective rate will be 28% per annum and it will be compounded) and charged on a daily basis, for transactions that are due (S$2.50 will be minimum charge every month).

    Minimum amount to be paid every month

    CIMB CashLite

    The instalment payment due every month should be paid in full along with all outstanding charges and overdue amounts.

    Charges for late payments

    S$100 is charged if the outstanding balance is not paid in full (if the balance is less than or equal to S$50) or if you fail to pay the minimum amount by the due date (outstanding balance is more than S$50)

    Annual fee

    None

    Fee for cash advances

    6% of the withdrawn amount (minimum S$15).

    Fee for Early Termination

    CIMB CashLite

    S$250 or 3% of the due principal amount (whichever is higher)

    Dynamic fee for currency conversion

    1%

    Other fees may also be applicable from time to time. Please contact the bank to get detailed information about all the applicable fees and charges.

    Frequently Asked Questions (FAQs)

    1. How are payments applied on the balance?
    2. A. All payments that are received will be first applied to the outstanding balance that attracts the highest interest rate, and then to the next highest interest bearing balance, and so on.

    3. What are the tenors available with this instalment loan offered by CIMB?
    4. A. The loan comes with flexible tenors of 12 months, 24 months, 36 months, 48 months and 60 months.

    5. What is the minimum amount offered as a loan with CIMB CashLite?
    6. A. The minimum amount offered as a loan with CIMB CashLite is S$1,000.

    7. How much loan amount can I get with CIMB CashLite?
    8. You can avail up to 90% of your credit limit of your card as a loan.

    9. What is the fee charged for early termination of the loan?
    10. A. The fee charged for early termination of the loan is S$250 or 3% of the due principal amount (whichever is higher)

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