Operating in Singapore since 1859, Standard Chartered Bank provides a range of financial products and services to both individual and corporate clients. The bank operates through its locally-registered arm Standard Chartered Bank (Singapore) Limited (SCBSL) – rated “A” by Standard & Poor’s, “A” by Fitch Ratings, and “Aa3” by Moody’s Investor Services.
Atleast 21 years
Less than 65 Years
Salaried or self-employed with regular income
Earn more than the minimum income required
Minimum income required
annual income is S$20,000
Maximum Loan Amount - up to 4 times your monthly income
EMIs of other loans lower your eligibility
Pay off your credit card bills
Choose longer tenure loan up to 5 Years
|Interest Rate||6.88% p.a|
|Loan Tenure||5 Years|
|Annual Fee||$199 (First Year)|
|Guarantor Requirement||No Guarantee Required|
Catering to the financing requirements of individual customers, the bank’s retail division offers different types of personal loans. Depending on your eligibility, these personal loans allow you to borrow up to four times your monthly income for a period of up to five years.
Read on to find out everything you need to know about these loans – from features and benefits to interest rates and other charges applicable. There are some joining perks as well that you must consider before you apply for a personal loan.
Standard Chartered offers two types of personal loans: CashOne Personal Loan and Debt Consolidation Plan.
CashOne Personal Loan
|Tenure||Annual income of S$30,000 and above||Annual income between S$20,000 and S$29,999|
|Loan amount of S$14,999 and below||Loan amount of S$15,000 and above||Loan amount below S$5,000|
|1 year||AIR: 8.58% p.a. EIR: 19.34% p.a.||AIR: 7.80% p.a. EIR: 16.01% p.a.||AIR: 9.80% p.a. EIR: 27.56% p.a.|
|2 years||AIR: 8.58% p.a. EIR: 17.76% p.a.||AIR: 7.80% p.a. EIR: 15.35% p.a.||AIR: 9.80% p.a. EIR: 23.14% p.a.|
|3 years||AIR: 8.38% p.a. EIR: 16.63% p.a.||AIR: 7.50% p.a. EIR: 14.39% p.a.||AIR: 10.80% p.a. EIR: 22.99% p.a.|
|4 years||AIR: 8.38% p.a. EIR: 16.08% p.a.||AIR: 7.50% p.a. EIR: 14.06% p.a.||AIR: 10.80% p.a. EIR: 21.80% p.a.|
|5 years||AIR: 8.08% p.a. EIR: 15.16% p.a.||AIR: 6.88% p.a. EIR: 12.75% p.a.||AIR: 10.80% p.a. EIR: 20.92% p.a.|
Debt Consolidation Plan
|3 years||4.98% p.a.||9.55% p.a.|
|4 years||5.68% p.a.||10.64% p.a.|
|5 years||5.68% p.a.||10.48% p.a.|
|6 years||5.68% p.a.||10.34% p.a.|
|7 years||5.68% p.a.||10.20% p.a.|
|8 years||6.00% p.a.||10.57% p.a.|
|9 years||6.88% p.a.||11.77% p.a.|
|10 years||6.88% p.a.||11.61% p.a.|
Foreigners can only apply for CashOne Personal Loan.
|Standard Chartered Personal Loan||Fees and Charges|
|CashOne Personal Loan||Debt Consolidation Plan|
|Late payment fee||S$80|
|Early termination fee||3% of the outstanding principal amount or S$250, whichever is higher|
|Annual fee||First year: S$199 Second year onwards: S$50 (can be waived, depending on your last 12 months’ payment behaviour)||One time joining fee: S$199|
CashOne Personal Loan
Commission earning individuals:
Debt Consolidation Plan
You can apply through BankBazaar.sg with a few quick and easy steps.
Q. I have got a Platinum Visa Credit Card with CashOne loan. Can I use it for retail transactions?
A. The credit limit on the card issued with CashOne is treated as a loan. You will be able to use this limit as and when you repay your CashOne loan.
Q. How do I know my monthly repayment amount and the payment due date?
A. You can find out the monthly repayment amount and the payment due date from your monthly statement.
Q. What if I miss my CashOne instalment payment?
A. In case you miss two instalments within a period of six months, an extra 4% p.a. will be added to your EIR on the entire loan outstanding balance.
Q. Is there any minimum unsecured outstanding debt requirement to apply for the Debt Consolidation Plan?
A. Yes. Your outstanding unsecured balances must be more than 12 times your monthly income.
Q. Can I apply for Debt Consolidation Plan to consolidate a part of my balances?
A. No. You must apply for this loan for full consolidation of your outstanding unsecured facilities.
Standard Chartered Plc creates two new hubs for its Asian operations in Hong Kong and Singapore. This initiative will simplify the extensive network of the bank and also reduce costs. The bank is planning to combine 10 South Asian and Southeast countries, which includes India and Indonesia, into one Singapore subsidiary. This will allow Standard Chartered to handle its capital and assets efficiently and decrease the size of the emergency buffers. The bank is also combining its North Asian countries like South Korea into a Hong Kong subsidiary. Currently, the bank is suffering from high management and compliance costs as it operates in around 60 markets. Bill Winters, the Chief Executive Officer of the bank, said that the restructure could lead to partial listing or sale of the new units in the future. The bank will also be able to merge its capital and liquidity by uniting several countries.
8th June 2018
Standard Chartered’s wealth management business has been growing at a steady pace, and the bank’s recent move to offer a digital platform to their customers has created a significant growth in their customer base. More and more customers seem to prefer transacting online. The bank says that this ties in with the customers’ need to protect and invest their increasing wealth. In South Asia and ASEAN, Standard Chartered’s retail asset management sector grew by 41% in 2017 when compared to the previous year. Asset management under private banking for the same year showed a growth of 25%. Given that Singapore is an important hub for wealth management, it is natural that it contributes one-third of the bank’s income from retail banking in the country.
Last October, Standard Chartered launched its new platform, Personalised Investment Ideas (PII), in Singapore. It is a smart investment tool on a digital platform that gives priority clients practical investment ideas in a matter of minutes. In order to use this facility, priority clients have to invest at least S$200,000 with the bank. Sumeet Bhambri, Regional Head of Standard Chartered Wealth Management, ASEAN and South Asia, said the PII tool enables relationship managers to assess clients’ risk appetites and suggest suitable hold, sell, and buy investment ideas. He added that the tool helps build customers’ confidence in the investment advice given to them, proven by the fact that more than 8,000 customers have used the new platform since October 2017.
The bank does not mandate a minimum amount for online trading nor does it charge custody fees. While the old version of the platform was available only on computers, the newly revamped platform can also be accessed on tablets and mobiles.
30th May 2018
Standard Chartered Bank customers in Asia, Africa and Middle East have a reason to rejoice as they can now access their mobile banking services without the need of any password. The bank is all set to roll out a new feature known as the “touch login” feature to its mobile service banking with just a touch through the fingerprint recognition technology that is imbedded in the device. The feature is available on both iOS and Android platforms.The feature is live in Singapore, India and United Arab Emirates (UAE). The bank will also launch a voice biometric technology for its mobile banking service in UAE and India by the end of this year.
07th September 2016
Particulars: Get up to SGD 1,088 as cashback when you apply for a personal loan from Standard Chartered Bank Singapore. You will also enjoy approval-in-principle in 60 seconds. Apart from that you will also receive an additional cashback of SGD 50 if you apply online and the annual fee of SGD 199 charged for the loan will be waived for the first year. If the loan amount is less than SGD 50,000, you will get 1.2% of the amount as cashback and if the amount is SGD 50,000 or more you will get 1.5% of the amount as cashback.
Terms and conditions
You will be eligible for this promotion only if your loan application is approved by the bank. The maximum amount that you can get as cashback is SGD 1,088. Others terms and conditions may apply.
Enjoy cashback of up to SGD 888 or 1.2 percent when you apply for a CashOne personal loan from Standard Chartered Bank in Singapore. Apart from that, you will get cash back of SGD 199, the annual fee charged for the loan for the first year. You will also enjoy approval-in-principle in a minute (60 seconds).
Please contact the bank to know about the applicable terms and conditions.
Dash, the mobile banking app from Standard Chartered Bank, now available on Lazada. This mobile banking app was launched by the bank in the Lion City in collaboration with Singtel. This app can now be used when shopping with the online retailer Lazada, who is the first e-commerce partner of this app. This collaboration between Standard Chartered Bank and the retailer Lazada has been facilitated by helloPay, which is a fin-tech platform powered by the Lazada group. Lazada is one of the most popular online shopping website in Singapore and it offers a wide range of products to the customers.
At present, customers can enjoy cash back of 5 percent on all the purchases made on Lazada with the help of the Dash app. This is an introductory offer that will be available till the end of the year i.e. 31 Dec, 2015. In order to avail this facility and to make payments with the Dash app on Lazada, customers need to select the helloPay option at first when they checkout, then choose Dash as the payment portal and then log in to the portal with their PIN and mobile number for making the payment. Standard Chartered bank and Lazada have now launched a promotional campaign to make this collaboration popular with the consumers.
05th October 2015