Cash woes? A personal loan to the rescue!

    RHB Preferred Credit

    RHB Preferred Credit, an unsecured credit line, allows one to access extra cash whenever required. The Preferred Credit line enables RHB customers to afford the best luxuries of life without having to worry where to get the extra cash from.

    Preferred Credit can be used for investment opportunities, a new car, buying a rare antique or going on a holiday.

    Features of RHB Preferred Credit

    RHB Preferred Credit account comes with some unique features:

    • RHB Preferred Credit can be used for anything a customer wants to spend on, there’s no restriction.
    • The credit can be used up in parts on different things. It is not necessary to spend the entire amount at one go.
    • The unused credit that remains in the customer’s account also earns interest on the amount.

    Benefits of RHB Preferred Credit

    RHB Preferred Credit is appropriately named as its many benefits make it the preferred form of credit:

    • Interest rate as low as 5.888% p.a. during the first 3 months.
    • Effective interest rate (EIR) in the first year: 14.138% p.a.
    • No requirement of repaying a minimum amount per month.
    • Remaining credit balance yields high returns.
    • Unlimited number of cheque books for free.

    Interest Rates

    Preferred Credit Interest Rates:

    For the first 3 months

    5.888% p.a. (promotional rate)

    After the first 3 months are over

    16.888% p.a. (prevailing rate)

    Effective Interest Rates:

    The first year

    14.138% p.a. EIR

    After the first year

    16.888% p.a. EIR

    Interest on Credit Balance:

    Up to S$5,000

    0.48% p.a.

    Next S$45,000

    0.58% p.a.

    Next S$100,000

    0.68% p.a.

    Above S$150,000

    0.78% p.a.

    Eligibility Criteria

    To apply for RHB Preferred Credit, a customer must fulfill the following eligibility criteria:

    • Has to be a Citizen or a Permanent Resident of Singapore.
    • Has to be aged more than 21 years and less than 60 years.
    • Has an income of minimum S$36,000 p.a.

    Documents Required

    • Copies of both sides of NRIC.
    • Income Proof:
      • Salaried Employee:
        • Latest Payslip (Computerized), or
        • Last 12 months’ Statement of Contribution to CPF, or
        • Notice of Assessment of Income Tax (NOA).
      • Variable Income:
        • Computerized Payslip of the last 6 months, or
        • Last 12 months’ Statement of Contribution to CPF, or
        • Latest Notice of Assessment of Income Tax.
      • Self-Employed:
        • Last 2 years’ Notice of Assessment of Income Tax (NOA).
    • Any document as and when requested by RHB.


    1. What are the fees and charges applicable on RHB Preferred Credit?
    2. The fees and charges applicable are as follows:

      • Minimum amount of monthly repayment - No minimum amount of repayment required as long as the quantum of loan stays within the credit limit.
      • Interest charge - S$10.
      • Late payment fee - None.
      • Over limit charge - 5% above prevailing rate of interest.
    3. Will I be charged an annual fee for the RHB Bank Preferred Card?
    4. No. The annual fee for this card is permanently waived. You also get access to unlimited cheque books for free.

    5. How can I apply for RHB Preferred Credit?
    6. You can apply for RHB Preferred Credit online in three easy steps:

      • Download the application form from the RHB website.
      • Complete the application form and attach the required documents.
      • Email your application along with the required documents to [email protected]

      Alternately, you can visit any RHB bank branch and submit your application in person.

    7. How do I access my credit line?
    8. You will receive a set of Preferred Credit approval letter and Preferred Credit terms and conditions booklet upon approval. A cheque book will be issued and emailed to the mailing address provided by you in the application form. You can simply use this cheque book to draw on the credit line.

      Alternately, you can visit any RHB branch and get an ATM card issued to you, so that you can access your account via ATM withdrawals.

    9. How do I keep track of my credit usage?
    10. An RHB Preferred Credit card’s statement gets generated every month listing all transactions, charges or interest earnings for that month. You may login to RHB Now Internet Banking at to get a record of your latest transactions.

    11. What if I am unable to pay my dues to the bank?
    12. If the borrower fails to pay the bank any part of the preferred credit facility (including interest and any other sum due) on demand or on the due date, the bank may take the following steps:

      • Any and all further commitment of extending credit facility to the borrower would be ceased immediately.
      • The bank may debit all or any of the borrower’s accounts held with the bank.
      • The bank shall have the right to charge additional interest rate on the outstanding default amount from the due date till the date the payment is made.

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