• Personal Loan BYTES FROM OUR KITCHEN

    Maybank Machinery and Equipment Financing

    Maybank is one of the leading banks in Singapore offering a wide range of financial products to cater to different conventional banking and Islamic banking products to suit the financial requirements of its customers. The bank is well known for its unique financial products. Maybank SME Micro Loan is one of the unique loan products offered by the bank. Maybank SME Micro Loan is a loan scheme that offers working capital to enhance one’s business.

    Features of Maybank SME Micro Loan

    Listed below are some of the important features of Maybank SME Micro Loan:

    • It is a personal loan scheme.
    • Offers a loan quantum of up to S$100,000.
    • Offers a long loan tenure of up to 4 years.
    • The loan comes with fixed regular monthly payments.
    • Loan amount can be used for various business activities.
    • Same day approval of the loan.
    • Instant fund transfer to any bank account as soon as the loan is approved.
    • Hassle free application process.
    • Easy and minimal documentation.
    • Quick approval.
    • Available to Singaporeans and foreigners.

    Benefits of Maybank SME Micro Loan

    Listed below are the benefits of Maybank SME Micro Loan:

    • Offers high loan amount up to S$100,000.
    • Quick approval- The loan is approved on the same day provided that all relevant documents have been submitted.
    • Offers a long tenure of up to 4 years.
    • The loan amount can be utilised for any business activities.
    • Available to Singaporeans and foreigners.
    • The loan comes with fixed regular monthly payments.
    • Low rate of interest.

    Eligibility criteria of Maybank SME Micro Loan

    Given below is the eligibility criteria of Maybank SME Micro Loan:

    • Companies registered and operating in Singapore.
    • At least 30% of your company’s shareholding is local
    • Company’s Group annual sales1 of not more than S$100 million or Company’s Group employment size of not exceeding 200 workers.
    • Annual Sales Turnover of not exceeding S$1 million or not more than 10 employees.

    How to apply for Maybank SME Micro Loan?

    There are two ways through which one can apply for Maybank SME Micro Loan- Online and offline.

    • Online- The borrower can apply for the loan online by visiting the bank’s official website and applying for the product directly online. The applicant has to fill in the application online and upload relevant documents in order to apply online. Maybank SME Micro Loan scheme can also be applied for through third party financial websites.
    • Offline- The borrower can apply for the loan offline by visiting one of the bank’s branches and applying for the loan by filling in the form at the branch.

    Fees and charges of Maybank SME Micro Loan scheme

    • Processing fee: S$100.
    • Late Payment fee: S$80.
    • Early partial or full payment: 3% of the amount to be repaid.
    • Restructuring fee: 3% of the loan amount.

    Required documents for the loan scheme

    Given below is a list of documents required for the loan scheme:

    • Last 2 years' audited accounts or certified financial statements (if applicable).
    • Last 6 months' bank statements.
    • Copy of NRIC (front and back) of owners/directors/partners/sole proprietor/guarantor(s).
    • Latest personal Income Tax Notice of Assessment of owners/directors/partners/sole proprietor/guarantor(s).

    How to manage your Maybank SME Micro Loan?

    • Online and mobile banking- Customers can easily view their loan balance and other details online through free applications available on iPhone, android phones, and iPad.
    • Easy repayment options- Customers can repay their loan through online payment, mobile funds transfer, cheque deposit, and cash deposit machine.

    Explore Other Loan Products offered by Maybank Singapore:

    Frequently asked questions

    1. What are the different modes of making payment for the loan?
    2. The customer can make payments through online payment portal, mobile funds transfer, and cheque/cash deposit machines.

    3. What is the maximum tenure offered for the loan?
    4. The maximum loan tenure offered on the loan is 4 years.

    5. What is the maximum loan amount offered by the bank?
    6. The bank offers a maximum loan amount up to S$100,000 depending on the business.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.