The CreditAble Term Loan from Maybank is a personal loan with low interest rates and planned repayment options. You can repay the loan amount in fixed monthly instalments and choose a tenure of up to 60 months. The low interest feature lets you manage your commitments, whether it is going on a family vacation or renovating your home.
The table below shows the interest rates along with approximate monthly instalment amounts on a loan amount of S$9,000:
|Repayment tenure||Rate of interest (p.a.)||EIR (Effective Interest Rate) (p.a.)||Instalment amount per month|
Apply for a CreditAble Term Loan of S$9,000 and above and enjoy cash credit of S$120. This promotion is limited to the first 500 applicants. You are entitled to receive only 1 gift. The cash credit will be credited to your CreditAble account within one month from application. To know more about this promotion, please read the full terms and conditions on the bank’s page.
|Processing fee||2% of the approved loan amount|
|Loan prepayment fee||3% of the remaining balance or S$200, whichever is more.|
|Chequebook return fee||S$40|
For a salaried individual/variable income earner:
For a self-employed/commissioned individual:
To apply for this loan, you can do either of the following:
Q. How will the monthly instalment get debited from my account?
A. Your monthly instalment amount will be debited from your CreditAble account on a set statement date. If the date falls on a public holiday, then the amount will be deducted on the next working day.
Q. How is the interest calculated on the term loan?
A. The interest on this loan is calculated on a flat rate and is fixed for the complete tenure of each loan.
Q. What will happen if I default on the minimum payment for a month?
A. If you fail to pay the minimum amount within the due date, then a late payment fee will be charged by the bank at the prevailing rate.