Cash woes? A personal loan to the rescue!
  • Personal Loan BYTES FROM OUR KITCHEN

    RHB Country Club Financing

    Club memberships are usually very expensive which make it difficult for you to buy one. Getting a membership means getting access to several amenities such as swimming pools, gyms, member-only events, and sports activities. RHB has recognised this want and introduced a new loan called Country Club Financing.

    With this loan, you can borrow a certain percentage of the membership fees or 6 times your monthly salary.

    Features and Benefits of RHB Country Club Financing: Interest Rates From 5.38% p.a.

    • Attractive interest rates: Enjoy preferential interest rates, starting from 5.38% p.a.
    • High loan quantum: Borrow an amount that is either 6 times your monthly salary or up to 80% of the membership fee, whichever is lower.
    • Tenor: You can choose to pay your loan over 5 years.

    Interest Rates: What the Loan Might Cost You

    The table below shows the interest rates applicable on this unique loan:

    Tenor Interest rate Effective interest rate
    1 year 5.38% p.a. 11.67% p.a.
    2 years 5.38% p.a. 11.01% p.a.
    3 years 5.38% p.a. 10.67% p.a.
    4 years 5.38% p.a. 10.43% p.a.
    5 years 5.38% p.a. 10.23% p.a.

    Fees and Charges You Should Know About

    Apart from the interest rates, fees and charges may make a loan look unattractive. But, when you select this loan, you might feel that the fees or charges are pretty reasonable. Here’s a quick look at the important ones:

    Types of fees/charges Amount
    Processing fee 1% of the approved loan amount
    Late payment fee S$100
    Prepayment fee 1% of the outstanding balance
    Cancellation fee As mentioned in the Letter of Offer
    Overdue instalment fee 5% p.a. more than the Prime Lending Rate or 3% p.a. more than the prescribed rate

    Let’s Calculate the Monthly Instalments

    Suppose you take a loan of S$10,000 and choose a 3-year tenor. Then, the final loan amount you’re going to get in your account is S$9,900 (1% processing fee deducted from the approved amount).

    Now, your monthly principal amount will be S$278 (10,000/36) and the interest rate charge will be S$533 (5.38/100x9,900). Divide the interest rate amount with 12 to get the monthly interest charge i.e. S$44.4 (533/12).

    Hence, add the principal amount (S$278) and the monthly interest charge (S$44.4) to know your monthly instalment amount, which is S$322.4.

    Not Sure If You Are Eligible for This Loan? Find Out Here

    To be eligible to apply for RHB Country Club Financing, you must satisfy the following criteria:

    • You must be a Singaporean or a Permanent Resident.
    • You must be between the ages 21 and 60 years.
    • You must earn a minimum annual income of either S$30,000 (salaried employees) or S$36,000 (self-employed individual).
    • You cannot apply with a second applicant.

    Here’s What You Need to Submit

    • A copy of your NRIC or passport.
    • Purchase agreement.
    • Income proof: (Any 1 of the following documents)
      • For salaried employees:
        • Most recent payslip.
        • Last 12 months’ CPF Contribution Statement.
        • Most recent Income Tax Notice of Assessment (NOA).
      • For commission-based earner or variable income individual:
        • Last 6 months’ payslips.
        • Last 12 months’ CPF Contribution Statement.
        • Most recent Income Tax Notice of Assessment.
      • For self-employed individuals:
        • Latest 2 years’ Income Tax Notice of Assessment.

    Enjoy Fuss-Free and Fast Application

    Are you convinced and ready to apply? This is how you can do so in either of the following way:

    • Go to the RHB Country Club Financing webpage, click on ‘Download Document’, fill up the details, and mail it to the bank.
    • Click on ‘Make an Appointment’, fill up the online form, and the bank will get in touch with you at your chosen time.

    With this country club loan, you can buy the membership plan anytime and enjoy all the benefits the club has to offer. RHB is the only bank that offers a loan, specifically for country club financing. Hence, fulfil your dream of owning a club membership.

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