• TCC Consolidation Loan

    Personal Loan BYTES FROM OUR KITCHEN

    Overview of TCC – The Credit Cooperative

    The Credit Cooperative wishes to be the first choice Credit Cooperative for the people of Singapore by providing financial services that are family oriented, innovative and fair. TCC has recently completed 85 years of serving the citizens of this island. TCC operates with the mission to provide the best possible financial and related solutions to not only its members but also their families, thereby doing complete justice to the TCC tagline, The Credit Co-operative with a heart. They offer a diverse range of financial services and products that are steeped in value and the TCC vision. Whether you need funding to plan your perfect wedding, manage your debt better, need emergency funding for medical reasons or any other purpose, TCC will never let you down. TCC helps its members and their families by providing top notch services that are based on the values of caring, fairness, convenience, flexibility, nurture, responsive, responsible, honesty and reliability.

    TCC Consolidation Loan

    The TCC Consolidation Loan makes your credit management a lot easier and convenient. You can use this loan to transfer all your credit balance from different sources to TCC for a loan that offers one of the least interest rate structures offered when compared to any other bank or financial institution in Singapore.

    Features and Benefits of the TCC Consolidation Loan

    • You have the liberty to apply for this loan as a single applicant or apply along with a joint applicant.
    • TCC follows a flat interest rate structure for the Consolidation Loan. You can avail this loan for an attractive interest rate of 6.99% per annum.
    • TCC Consolidation Loan offers flexible loan tenures that suit the financial needs and requirements on every member. You can repay this loan at a tenure of up to 60 months.
    • When you apply for the TCC Consolidation Loan online from the official TCC Singapore website, you will enjoy a 10% discount on the processing fees.

    Eligibility Criteria for the TCC Consolidation Loan

    Eligibility criteria for the main and joint applicants –

    • Nationality Criterion - The TCC Consolidation Loan is applicable to Singapore Citizens (SCs) and Singapore Permanent Residents (PRs) who are members of TCC and their families. Foreigner are not eligible to apply for this loan.
    • Age Criterion – The applicant must at least be 21 years old and not older than 60 years.
    • This loan requires surety / sureties.

    Eligibility criteria for surety / sureties –

    • Surety / sureties can only be provided by Singapore Citizens (SCs).
    • Age Criterion – The applicant must at least be 21 years old and not older than 55 years.

    Documentation Requirement for the TCC Consolidation Loan

    The following are the documents that must be provided by the main and joint applicants –

    • The applicant must provide a front and back copy of their NRIC.
    • In case of a joint application, a copy of the Marriage Certificate must be provided
    • The applicant must provide their Credit Bureau Singapore Report. This report can be obtained by visiting the official Credit Bureau Singapore website and use your SingPass to access your report.
    • The applicant must provide their statements for loans obtained from other financial institutes for the last 6 months. This can include credit card statements, personal loan statements etc. obtained from different banks.
    • The applicant must provide a Letter of Undertaking for the cancellation of their credit facilities or the consolidated loans.
    • The applicant must provide a letter or an email to TCC providing a reason for the accumulation of their debts.
    • Salaried employees must provide the following income proof documents –
      1. Their latest payslip AND
      2. Their latest CPF Contribution History for the last 15 months
      3. If the loan amount is more than SGD 10, 000, the applicant must provide their latest Income Tax NOA (Notice of Assessment) document.
    • Employees working on commission must provide the following income proof documents –
      1. Their commission statement for the last 6 months
      2. Their Income Tax NOA (Notice of Assessment) for the last 2 years
    • Self - employed applicants must provide the following income proof documents –
      1. Their Income Tax NOA (Notice of Assessment) for the last 2 years

    The following are the documents that must be provided by the surety / sureties –

    • A front and back of the applicant’s NRIC.
    • Salaried employees must provide the following income proof documents –
      1. The latest payslip AND
      2. The latest CPF Contribution History for the last 15 months
      3. In case of the loan amount being more than SGD 10, 000, the applicant must provide their latest Income Tax NOA (Notice of Assessment) document.
    • Employees working on commission must provide the following income proof documents –
      1. The commission statement for the last 6 months
      2. The Income Tax NOA (Notice of Assessment) for the last 2 years
    • Self - employed applicants must provide the following income proof documents –
      1. The Income Tax NOA (Notice of Assessment) for the last 2 years

    Applying for the TCC Consolidation Loan

    In order to apply for the TCC Consolidation Loan, please follow the simple steps listed below –

    • Visit the TCC Singapore official website and navigate to the TCC Consolidation Loan page.
    • At the bottom of the page you will find a link to the online application form. Click on the link and fill out all the details requested on the form. Do not forget to sign on all the forms.
    • You can then either email the form along with the requested documents to the TCC official email address found on the website or you can fax the form along with the documents to the fax number provided on the same webpage.
    • As an alternative, you can also walk into your nearest TCC office and apply for the TCC Consolidation Loan directly in person.

    Other Loans Offered by TCC Singapore

    Frequently Asked Questions

    1. What is the interest rate structure offered by the TCC Consolidation Loan?
    2. TCC follows a flat interest rate structure for the Consolidation Loan. You can avail the TCC Consolidation Loan for an attractive interest rate of 6.99% per annum.

    3. What is the maximum loan tenure offered by the TCC Consolidation Loan?
    4. TCC offers flexible loan tenures that suit the financial needs and requirements on every member when you apply for the TCC Consolidation Loan. You can repay this loan at a tenure of up to 60 months.

    5. What discount will TCC members enjoy when they apply for the TCC Consolidation Loan?
    6. When you apply for the TCC Consolidation Loan online from the official TCC Singapore website, you will enjoy a 10% discount on the processing fees.

    7. What is the eligibility criteria to apply for the TCC Consolidation Loan?
    8. You can apply for the TCC Consolidation Loan as a single applicant or as a joint applicant. This loan is applicable to Singapore Citizens (SCs) and Singapore Permanent Residents (PRs) who are either members of part of the family of the members of TCC. Additionally, the member must between the ages of 21 years and up to 60 years of age to be applicable to apply for this loan. For those applicants who are the surety / sureties, they must be Singapore Citizens (SCs) and between the ages of 21 years and up to 55 years old.

    9. Are self – employed individuals eligible to apply for the TCC Consolidation Loan?
    10. Yes. Self – employed individuals eligible to apply for the TCC Consolidation Loan provided they meet the eligibility criteria – they must be to Singapore Citizens (SCs) and Singapore Permanent Residents (PRs) who are either members of part of the family of the members of TCC and between ages of 21 years and up to 60 years of age. Additionally, to be eligible, they must also provide their Income Tax NOA (Notice of Assessment) for the last 2 years.

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