With CashOne personal loan from Standard Chartered, you can borrow up to four times your monthly salary. The best part? The cash is disbursed within the next banking day of loan approval, subject to terms and conditions.
Apply online for a Standard Chartered CashOne personal loan and get up to S$2,088 cashback on your approved loan until 30 September 2018.
If your new CashOne personal loan or Credit Card Instalment Loan application is approved during the promotion period, you will be eligible to receive the following:
These cashbacks are capped based on the following table:
|Relationship with Standard Chartered Bank||Approved Loan Amount||Amount of Cashback||Cap on Cashback|
|Existing Customer||< S$50,000||0.8% of approved loan||Capped at S$1,088|
|S$50,000 & above||1% of approved loan|
|New Customer||< S$50,000||1.6% of approved loan||Capped at S$2,088|
|S$50,000 or above||2% of approved loan|
If you submitted your application online and already qualify for the S$199 credit and capped cashback, you may also be eligible to get a one-time online cashback of S$50 per account along with the other two credits. The three amounts may be credited to your account (credit card account or other account) within 50 working days of your loan’s approval date, provided your account is in good standing.
|Change of loan tenure||S$50 per change request.|
|Late payment fee||S$80 if minimum payment is not made within payment due date.|
|Loan prepayment fee||3% of the outstanding balance, subject to a minimum of S$250.|
|Interest applicable on default (payment is not received within the due date at least twice within the last six months)||4% p.a. in addition to the original EIR on outstanding balance.|
Apply through our website for convenience and quick approval if you think that this loan is ideal for you. Not sure yet? Get started today by checking your eligibility for the loan on our website. All you need to do is answer a few basic questions.
Q. The bank says that I can borrow up to four times my monthly salary if my annual income is S$30,000 or more. So, is my loan approval of S$10,000 guaranteed?
A. The bank allows you to borrow up to four times your monthly income if your annual income is at least S$30,000. However, the bank can approve or reject your application based on its sole discretion and judgement. The quantum of loan approved would also depend on them.
Q. Apart from the minimum income criteria, are there any other determinants for this loan?
A. Apart from income, some of the other factors determining the quantum of loan could be (but not limited to):
Q. If I default on my payment and higher interest is applied, will my monthly instalment quantum change?
A. No. In order to keep the monthly instalment same, the bank will increase the loan tenor. That means, you have to pay the same amount every month but for a longer period.
Q. Once default interest starts applying, do I have to repay the loan at higher rate of interest till the end of the loan tenure?
A. No. If you make full payment of your monthly instalment dues for six consecutive months, the default rate will be replaced by the original rate of interest.
Q. Will I get cash within the next banking day under all circumstances?
A. No. Only if you apply for this loan by 2:00 p.m. on a regular working day and the bank approves it without asking for any additional information or clarification, will you get cash by the next working day. For all other instances, standard processing time will apply.