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    Standard Chartered Personal Loan Interest Rates

    Standard Chartered offers two types of personal loans in Singapore. They include a personal loan and a debt consolidation plan.

    Standard Chartered CashOne Personal Loan

    Standard Chartered offers a great personal loan product known as CashOne Personal Loan. When you apply for this loan, you will receive the funds by the next working day itself. The interest rates for this loan start from 6.88% p.a.

    Interest rate table for Standard Chartered CashOne Personal Loan

    Standard Chartered offers different interest rates according to the loan amount and loan period. If you earn S$30,000 annually, these are the interest rates for your loan. When your approved loan amount is S$15,000 and above, your interest rates will be as per the table given below:

    Loan period Annual rate (p.a.) Effective interest rate (p.a.) (i)
    1 year 7.80% 16.01%
    2 years 7.80% 15.35%
    3 years 7.50% 14.39%
    4 years 7.50% 14.06%
    5 years 6.88% 12.75%

    When your approved loan amount is S$14,999 and below, your interest rates will be as per the table given below:

    Loan period Annual rate (p.a.) Effective interest rate (p.a.)(ii)
    1 year 8.58% 19.34%
    2 years 8.58% 17.76%
    3 years 8.38% 16.63%
    4 years 8.38% 16.08%
    5 years 8.08% 15.16%

    If your annual income ranges from S$20,000 to S$29,999 and if your approved loan amount is below S$5,000, these will be your interest rates:

    Loan period Annual rate (p.a.) Effective interest rate (p.a.) (iii)
    1 year 9.80% 27.56%
    2 years 9.80% 23.14%
    3 years 10.80% 22.99%
    4 years 10.80% 21.80%
    5 years 10.80% 20.92%

    The effective interest rates are explained as follows:

    (i) is according to the average loan amount of S$20,000.

    (ii) is according to the average loan amount of S$10,000.

    (iii) is according to the average loan amount of S$4,000.

    Default interest rate

    If you fail to make payments by the last date twice within 6 months, you will have to pay 4% p.a. along with the actual effective interest rate that is charged on your full unsettled balance.

    Promotions on this loan

    If your approved loan amount is below S$50,000, you will get a cashback of 1% of your approved loan amount. When your approved loan amount is S$50,000 or higher, you will receive a cashback of 1.5% of your approved loan amount. The cashback cap for this promotion is S$1,088.

    Standard Chartered Debt Consolidation Plan

    The Debt Consolidation Plan offered by Standard Chartered will allow you to organise all your loans with a superb monthly repayment plan. When you combine every debt into one single debt plan, you can make great savings. When you choose this plan, you will not be required to pay high interests on your full set of different loans. You will also receive a complimentary Standard Chartered Platinum Mastercard Credit Card to meet your daily needs.

    Interest rate table for Standard Chartered Debt Consolidation Plan

    Let us take a look at the interest rates for this personal loan product:

    Loan period Applied rate (p.a.) Effective interest rate (p.a.)
    3 years 4.98%    9.55%
    4 years 5.68%    10.64%
    5 years 5.68%    10.48%
    6 years 5.68% 10.34%
    7 years 5.68% 10.20%
    8 years 6.00% 10.57%
    9 years 6.88% 11.77%
    10 years 6.88% 11.61%

    Default interest

    If you fail to make your repayment completely by your due date, your minimum effective interest rate will be 25.9% p.a. When you miss your payment deadlines continuously, your loan repayment amount will be computed every day at 0.071% until you make your payment fully.

    You can go online or visit a Standard Chartered branch to complete your application process.

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