• Personal Loan BYTES FROM OUR KITCHEN

    CIMB Cashlite Personal Instalment Loan

    Your income may not be sufficient to fulfil your dreams and aspirations. Hence, you might need to seek financial help to fulfil your dreams or to meet your financial responsibilities. You can seek help from a friend or family member but even they might not be in a position to help and so the best option for you is to seek financial assistance from a bank, in the form of a loan. 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.

    Overview of CIMB

    CIMB is a Malaysia based bank that has a presence in most countries in Southeast Asia and overall the bank operates in around 18 countries. CIMB has also been active in Singapore for a long time. Over the years, CIMB has become one of the most preferred banks for Singaporeans from all walks of life. It offers a wide range of products to Singaporeans including credit cards, debit card, home loans, personal loans, insurance, savings account, current account etc. When you opt for any of the personal loan products offered by CIMB, you can be assured that you can access higher loan amount and the interest rate offered will be attractive as well.

    Why Choose CIMB Cashlite Personal Instalment Loan?

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

    Features and Benefits of CIMB Cashlite Personal Instalment Loan

    The features and benefits of this personal loan product offered by CIMB in Singapore are as follows:

    • Low rate of interest – the interest rate charged with the loan will be very low and so your overall cost of borrowing will not be abnormally high and the bank can also offer you with 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 do not have any difficulty in repaying the loan.
    • High credit line – you can easily fix your financial health by availing up to 90 percent of your credit limit as a loan.
    • Flexible loan amounts – the amount that you borrow can be as low as S$1,000 and can even be higher than S$50,000.

    CIMB Cashlite Personal Instalment Loan Interest Rates

    Loan Amount of S$1,000 to S$19,999

    Tenor of the Loan

    Rate of Interest

    Effective Rate of Interest

    12 months

    6.28 percent per annum

    11.40 percent per annum

    24 months

    6.58 percent per annum

    12.16 percent per annum

    36 months

    6.98 percent per annum

    12.79 percent per annum

    48 months

    7.48 percent per annum

    13.48 percent per annum

    60 months

    8.08 percent per annum

    14.25 percent per annum

    Loan Amount of S$20,000 to S$49,999

    Tenor of the Loan

    Rate of Interest

    Effective Rate of Interest

    12 months

    5.78 percent per annum

    10.50 percent per annum

    24 months

    6.08 percent per annum

    11.27 percent per annum

    36 months

    6.48 percent per annum

    11.92 percent per annum

    48 months

    6.98 percent per annum

    12.64 percent per annum

    60 months

    7.58 percent per annum

    13.45 percent per annum

    Loan Amount of S$50,000 and above

    Tenor of the Loan

    Rate of Interest

    Effective Rate of Interest

    12 months

    5.28 percent per annum

    9.61 percent per annum

    24 months

    5.58 percent per annum

    10.37 percent per annum

    36 months

    5.98 percent per annum

    11.05 percent per annum

    48 months

    6.48 percent per annum

    11.80 percent per annum

    60 months

    7.08 percent per annum

    12.64 percent per annum

    Savings

    Here is an illustration of the amount that you can save, if you get an approved loan amount of S$10,000 for a period of 36 months or 3 years at an interest rate of 5.31 percent per annum.

    Type of Loan

    Loan Amount

    Interest amount that has to be paid with other credit cards at the rate of 24.9 percent per annum for a period of 3 years

    S$7,470

    Interest amount that has to be paid with CIMB CashLite Personal Instalment Loan for a period of 3 years

    S$1,593

    Your total savings

    S$5,877 or 78 percent

    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 purchases (where applicable)

    CIMB World/ Platinum MasterCard and CIMB Visa Infinite/ Signature Card

    2.075 percent per month (the effective rate is 24.9 percent per annum and rate compounds if the balance is not paid in full by the due date) on the amount of the transaction and it is charged on a daily basis from the posting date till the date when full payment is made (there is a minimum charge of S$2.50).

    In case you do not pay the minimum amount due by the due date for any statement, interest will be charged at 2.25 percent per month (the effective rate will be 27% 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).

    The interest rate will revert to 24.9 percent per annum when you make the minimum payment by the due date.

    CIMB Classic MasterCard

    Interest will be charged at 2.25 percent per month (the effective rate will be 27% 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).

    Interest on cash advances

    The interest will be charged at 2.333 percent 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 Credit Cards

    3 percent of the due amount or S$50, (whichever is higher), along with that any outstanding amount that is still due.

    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$60 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 percent of the withdrawn amount (minimum S$15).

    Fee for Early Termination

    CIMB CashLite

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

    Dynamic fee for currency conversion

    0.8 percent

    Liability for Lost/ Stolen Card

    S$100

    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.

    Promotional Interest Rates

    Tenor of the Loan

    Rate of Interest

    Effective Rate of Interest

    1 Year

    6.01 percent per annum

    10.92 percent per annum

    2 Years

    5.38 percent per annum

    10.01 percent per annum

    3 Years

    5.31 percent per annum

    9.86 percent per annum

    4 Years

    5.38 percent per annum

    9.90 percent per annum

    5 Years

    5.51 percent per annum

    10.02 percent per annum

    Please get in touch with the bank to know about the terms and conditions applicable to this promotion.

    Explore the Other Loans Offered By CIMB Bank:

    Frequently Asked Questions (FAQs)

    1. How are payments applied on the balance?
    2. 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. 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. The minimum amount offered as a loan with CIMB CashLite is S$1,000.

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

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

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