FlexiCash is an instalment loan, which is available on all Maybank credit cards. This is a multi-purpose loan available in two tenures and loan approval within three days. Interest rates start from 5.88% p.a. with an EIR of 10.68% p.a.
|Tenure||Applied Interest Rate||Effective Interest Rate|
|12 months||5.88% p.a.||10.68% p.a.|
|24 months||6.88% p.a.||12.70% p.a.|
|Administration fee for loan valuation||S$200|
Say you have borrowed an amount of S$8,000 for a tenure of 12 months. While other line of credit or credit cards would calculate an interest rate of 24% p.a. on the balance, FlexiCash charges only 5.88% p.a. on your total balance. Your monthly interest payable with FlexiCash comes up to S$39.20 instead of S$160 with other bank loans. Hence, you save S$120.80 (75%).
To apply, you can download the application form from the loan’s webpage. Fill-up the details and send the completed form along with the required documents to the bank.
Q. Can the loan amount be transferred to my Maybank account?
A. No. You can only nominate a non-Maybank account for the transfer of funds upon loan approval.
Q. Will I earn TREATS Points under this loan?
A. No, you will not earn any TREATS Points under this loan.
Q. Can supplementary cardmembers apply for FlexiCash?
A. No. Only principal Maybank credit cardmembers are eligible for FlexiCash.
Q. Can I use this loan as a debt consolidation loan?
A. With FlexiCash loan, you can pay off your credit card debts from Maybank and other banks. The interest rate on this loan is lower than rates charged on credit cards.
Q. What will happen if I miss a payment on this loan?
A. If you do not pay the monthly instalment amount in full, the prevailing interest rate will be applicable.