A lot of people love sports and want to be a part of a club, but club memberships are generally very expensive and difficult to acquire. Besides sports, clubs have a lot of other activities, which one can participate in. RHB Bank Berhad Singapore has identified this want and designed a unique loan called ‘Country Club Financing’ for people who want to be a member of the Country Club. This loan finances 80% of the membership fee or 6 times the applicant’s monthly income (whichever is lower).
RHB bank is among the top banks in Malaysia and a well- known name in the banking and financial sector today. The bank is present in 8 other countries and has over 210 branches, 196 conventional and 14 Islamic branches in Malaysia. In 1997, the merger of two major banks took place in Malaysia namely the Kwong Yik Bank Berhad and DCB Bank which led to the formation of the RHB bank.
The bank was established in Singapore in 1961 as UMBC bank. UMBC bank, later known as the Sime Bank Berhad merged with RHB bank to form RHB Bank Berhad Singapore in 1999. The RHB bank provides a wide range of products and services to its customers in Singapore which come with a lot of benefits, thus making banking simpler for them. RHB Bank offers a variety of products in Singapore such as personal loans, credit cards etc. RHB Bank personal loans come with attractive interest rates.
If you are looking for a loan, which will provide you with money at attractive rates of interest, then you should opt for loans provided by RHB bank. RHB bank offers different types of loans to its customers, helping them fulfil their needs and wants and are very popular in Singapore. Country Club Financing is one such loan provided by the bank. This loan provides the necessary funds required to get a membership in the Country Club. Apart from helping you get a membership, RHB Country Club Financing provides you with a high loan amount along with low interest rates which you can repay in instalments.
|Rates of Interest|
|Tenure (in years)||Flat Rate||E.I.R (Effective Interest Rate)|
|1||5.38 % per annum||11.67 % per annum|
|2||5.38 % per annum||11.01 % per annum|
|3||5.38 % per annum||10.67 % per annum|
|4||5.38 % per annum||10.43 % per annum|
|5||5.38 % per annum||10.23 % per annum|
Note – The Effective Interest Rate (E.I.R) includes the processing fee.
|Processing Fees||1 % of the approved amount of loan|
|Fees for Late Payment||SGD 100|
|Fees for Early Redemption||1 % of the pending loan amount|
For Salaried Employee -
For Commission based employee or an individual who earns variable income -
For Self-Employed Individuals -
The application process of RHB Country Club Financing is very easy and free of hassles. You have to visit the website of the bank, where you have to first select ‘Personal’ in the ‘Menu’ tab. In the ‘Personal’ section, select ‘Loans’ and then click on ‘Country Club Financing’. You will be directed to the page which describes the product. Scroll down on this page to find the ‘How to Apply’ section and click on ‘Download Document’. On clicking, a new window containing the application form will open, fill up the application form and mail it to the bank.
No, the minimum age for applying for this loan is 21 years.
SGD 100 is the charge for late payment.
Yes, the E.I.R includes the processing fee, which is 1% of the approved amount of loan.
Yes, you can take this loan for a period of 5 years.
You can find more information about RHB Country Club Financing on the website of RHB bank, Singapore. You can also contact the bank or visit their Singapore branch if have any queries related to the product.