Drive easy, pay comfortably with Standard Chartered Bank’s auto financing plans offering customers a wide range of flexible repayment options and attractive fixed interest rates. As a part of a well-established international banking group, Standard Chartered has been in Singapore for over 150 years. The bank has a vast network of over 1700 branches scattered across the globe. Guided by its core values, Standard Chartered, conducts business to the highest standards, constantly innovating and collaborating to the customers’ needs and demands.
Salaried or self-employed
with regular income
Earn more than the minimum
required is S$50,000
Maximum Loan up to 70%
EMIs of other loans lower
Pay off your credit card bills
Choose longer tenure loan up to 7 years
|Margin of Finance||Upto 70%|
|Loan Tenure||1 year to 7 years|
|Guarantor Requirement||Guarantor Required|
A Standard Chartered car loan comes with flexible repayment options with tenures ranging from 12 to 84 months. This is aimed at reducing the burden of monthly instalment payments for the customer. The key benefit of the Standard Chartered car loan plan is the fixed interest rate offered amidst fluctuating market trends. The Standard Chartered bank finances up to 70% of the car value depending on the Open Market Value. Customers can purchase their new cars from a widespread dealer network. The bank has no hidden charges or fees attached to the car loan. Flexible payment options are available to all the customers and instalments can be paid via GIRO transfers, NETS at AXS stations or at any SingPost Self-service Automated Machine, cheque, online banking and by cash deposits at any cash deposit machine.
The Standard Chartered bank levies a fee of $60 for late payment of instalments along with an interest of 1% of the amount in arrears on a monthly basis. Customers, who wish to close their car loans before the term expires, can do so by paying 20% of the outstanding interest plus 1% of the balance payable. The Issuance of Schedule is also done at a charge of $10 per schedule. A photocopy of the hire purchase agreement or the log card can be acquired at a charge of $50 payable at the bank.
There are many reasons which set the Standard Chartered Car Loan apart from the other car loans available in the market.
Some of the notable features and benefits of the Standard Chartered Bank Car Loan are as follows.
Standard Chartered Bank provides one of the most competitive interest rates in the car loan market. One of the most favourable features of this car loan is its fixed interest rate. This is especially helpful for customers when the market conditions are fluctuating and as a result, so are the interest rates. A fixed rate of interest means that customers pay interest on their loan at a pre-decided rate, which is not affected by the market fluctuations.
The Standard Chartered car loan is available not only to citizens of Singapore and Singapore Permanent Residents but also to non-Singaporean citizens.
The bank offers services including trade finance, cash management, lending, security services, foreign exchange, debt capital markets and private banking services catering to both retail and corporate customers. Few main products bankbazaar.sg is offering includes –
Yes, each late payment will attract a penalty of S$60.
The Issuance of Schedule is done at a charge of $10 per schedule.
In case you would like to pay your loan before the expiry of its term, you will be charged a fee which comprises 20% of the remaining interest and 1% of the loan balance payable.
Yes, you may get either of these documents from the bank itself at a charge of S$50.
While making payment by cheque, borrowers must remember to do the following:
1. On the reverse side of the cheque, do remember to mention your contact number, NRIC and Hire Purchase Agreement Number.
2. All cheques must be crossed and shall be payable to the borrower’s repayment account.
3. Cheques can be deposited branch of Standard Chartered Bank which is located across Singapore.