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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 for CashOne now and be eligible to get a cashback of up to S$1,088 on your permitted loan amount. If the amount is less than S$50,000, then you will get 0.8% cashback and if it’s more than S$50,000, then you can enjoy 1% cashback. If you apply for this loan online, you can get an additional S$50 cashback along with S$199 credit that can be used to pay the first year annual fee charged on the sanctioned loan.
Terms and conditions:
|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.