OCBC EasiCredit is a standby and a flexible line of credit that allows you to decide the loan tenure and the amount you want to repay on your total outstanding balance.
Get OCBC Personal Loan Interest Rates OCBC Personal Loan Interest Rates
|Annual income||Interest rate (EIR)|
|S$30,000 and above||19.98% p.a.|
|From S$20,000 to S$29,999||29.8% p.a.|
|Annual fee||S$80 (first-year fee waiver if annual income is S$30,000 or more).|
|Minimum interest fee||S$5.|
|Returned cheque fee||S$40 for each cheque.|
|Stop cheque||S$30 per cheque if reported through the branch/customer service. S$15 per cheque if reported through online or phone banking.|
|Late payment fee||S$85 – S$125 if annual income is S$30,000 and above. S$80 if annual income is less than S$30,000.|
|Over-the-counter deposit/payment||S$25 for each transaction.|
|Age criterion||21 years of age or above|
|Nationality criteria||Singapore citizens, Permanent Residents and foreigners are eligible|
|Minimum annual income requirement||Singaporeans/PRs of Singapore: S$30,000 Foreigners: S$45,000|
You can follow the methods below to apply:
Q. What kind of a loan is EasiCredit?
A. EasiCredit is an unsecured personal loan, where you do not have to provide any collateral to the bank.
Q. How much can I borrow under EasiCredit?
A. The credit limit you can receive from OCBC for all income categories are as follows:
· If you earn between S$20,000 and S$29,999, you can borrow up to two times your monthly salary.
· If you have an annual income between S$30,000 and S$119,999, you will get a loan amount of four times your monthly salary.
· If your yearly earning is S$120,000 or more, then you can get up to six times your monthly salary.
Q. What is the monthly minimum repayment amount if I earn less than S$30,000?
A. If you earn less than S$30,000 in a year, then your minimum repayment amount will be S$50 or 5% per month, whichever is higher.
Q. If I fail to pay the minimum amount on time, what is the interest rate I can incur?
A. If you do not pay the minimum amount on time, you may have to pay an interest of 36% p.a. on the total balance.
Q. When do I have to make the minimum interest payment?
A. The minimum interest payment due on your outstanding balance will be charged at the end of every month. Note that the interest will be accrued daily on this loan.