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    Standard Chartered Personal Loan

    We found 1 Standard Chartered Personal Loan

    Bank Name
    Interest Rate
    Loan Tenure
    Processing Fee
    6.88% - 10.80% p.a. EIR: 12.75% - 27.56% p.a.
    1-5 Years
    -
    What you'll love
    What you need
    What Documents are required
    What you get
    What it costs
    Personal Loan BYTES FROM OUR KITCHEN

    Standard Chartered Personal Loan

    Personal loans are a boon to those who need liquid cash but cannot state a specific purpose for it. Personal loans can be used for vacations, to pay off debts and dues, to give your home a makeover or even yourself. You can use a personal loan to make an investment you just can’t pass up on. Whatever be the reason, personal loans give you full freedom to spend the way you please. But the catch? A much higher interest rate. So if you’re looking for a personal loan, make sure the interest you pay is worth it. Standard Chartered offers personal loans at very attractive interest rates along with other features.


    You’re probably eligible for a Standard Chartered Bank Personal Loan if you are

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    Standard Chartered Bank Personal Loan Minimum Age

    Atleast 21 years

    Standard Chartered Bank Personal LoanMaximum Age

    Less than 65 Years

     Standard Chartered Bank Personal Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

     Standard Chartered Bank Personal Loan Minimum Income

    Earn more than the minimum income required


    Your Standard Chartered Bank Personal Loan amount eligibility is based on these factors

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     Standard Chartered Bank Personal Loan Minimum Salary

    Minimum income required
    annual income is S$20,000

    Standard Chartered Bank Personal Loan Maximum Loan Funded

    Maximum Loan Amount - up to 4 times your monthly income

     Standard Chartered Bank Personal Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible Standard Chartered Bank Personal Loan amount by these steps

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     Standard Chartered Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Standard Chartered Bank Personal Loan Tenure

    Choose longer tenure loan up to 5 Years


    Documentation needed to apply for an Standard Chartered Bank Personal Loan

    • 1.Photocopy of NRIC
    • 2. Salaried Employee
      • Latest Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 3. Variable Income/Commission Based Earner
      • Latest 6 months Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 4. Self-Employed
      • Income Tax Notices of Assessment (NOA) for past 2 years
    • 5.Any other documents as may be requested by the Bank at its sole discretion

    Standard Chartered Bank Personal Loan DetailsUpdated on 22 Feb 2017

    Standard Chartered Bank Personal Loan Details
    Interest Rate 6.88% p.a
    Minimum Income $20,000
    Loan Tenure 5 Years
    EIR 12.75% p.a
    Annual Fee $199 (First Year)
    Guarantor Requirement No Guarantee Required

    About Standard Chartered Bank Personal Loan in Singapore

    Standard Chartered is headquartered in London and has 1700 branches across 70 countries all over the world. It offers several products to meet the changing needs of its customers and provides a lot of flexibility with its plans.

    Standard Chartered Bank provides unique features and benefits for its customers in Singapore. The loans offered provide you with the money you require and can be repaid through easy equated monthly instalments standardised by the bank itself.

    The Standard Chartered Personal Loan is known as CashOne. You can avail of up to 4 times your monthly income and choose repayment tenures of 12 to 60 months. You can use the loan to purposes of your choice whether it’s for a vacation, an investment or extra cash.

    Why choose Standard Chartered Bank Personal Loan?

    Standard Chartered Bank is one of the largest private sector banks in the world. It offers continuous service to its customers and caters to their changing needs. With innovative features added to their personal loan schemes, Standard Chartered Bank is ever-ready to provide you with financial support.

    Features of CashOne Personal Loan

    • Submit your application online and get your approval-in-principle in one minute.
    • Complete your application by submitting all relevant documents and further approval is subject to review.
    • Interest rates start as low as 6.88% per annum. The effective rate of interest is 12.75% per annum.
    • Enjoy flexible loan terms and monthly repayment schedule which will help you budget and manage your expenses better.
    • If your earnings are above S$30,000, get a CashOne Loan of up to 4 times your earnings per month and a Platinum Credit Card with a 5-year annual fee waiver.
    • With an annual income of S$20,000 to S$29,999, you can avail of a CashOne Loan up to two times your monthly income.

    Enjoy lower rates of interest with the Standard Chartered CashOne personal loan. Below are tables depicting the possible interest you could incur. For illustration purposes, the Effective Interest Rate (EIR) is calculated taking the first year’s annual fee of S$199 into consideration. AR stands for Applied / flat interest rate.

    Tenure

    Permitted Loan Amount

    S$15,000 and Above

    S$14,999-5,000

    $4,999

    and Below

    (Based on an average loan of S$20,000)

    (Based on average loan of S$10,000)

    (Based on average loan of S$4,000)

    AR (p.a.) EIR (p.a.) AR (p.a.) EIR (p.a.) AR (p.a.) EIR (p.a.)
    12 months 7.80% 16.01% 8.58% 19.34% 9.80% 27.56%
    24 months 7.80% 15.35% 8.58% 17.76% 9.80% 23.14%
    36 months 7.50% 14.39% 8.38% 16.63% 10.80% 22.99%
    48 months 7.50% 14.06% 8.38% 16.08% 10.80% 21.80%
    60 months 6.88%* 12.75% 8.08% 15.16% 10.80% 20.92%

    *The interest rate of 6.88% is valid for applications submitted and approved from 1st February 2014 to 31st August 2015.

    Manage your cashflow and your budget with the flexible repayment schedule offered by Standard Chartered. Below is a table illustrating a usual repayment period. All numbers have been rounded off to the nearest dollar.

    Loan tenure Loan Amount (S$)
    S$3,000 S$4,000 S$10,000 S$15,000 S$20,000
    1 year 275 366 905 1348 1797
    2 years 150 199 488 723 963
    3 years 110 147 348 510 681
    4 years 90 119 278 406 542
    5 years 77 103 234 336 448

    Listed below are the important fees and charges you should know about your loan. Apart from the interest chargeable, Standard Chartered levies an annual fee on CashOne loans. In the event that you default on payment, change your tenure or close your loan early, certain fees will be applicable.

    Details Amount
    Annual Fee

    First Year: S$199 (reduced from the agreed loan)

    Second year onwards: If all payments are received by payment due date for the past 12 months, the $50 annual fee is waived.

    Premature redemption fee S$250 or 3% of the remaining principal sum, whichever is more
    Change of tenure S$50 per change
    Late repayment S$60 will be levied if minimum repayment is not made by the due date.
    Interest on balance carried forward. If the payment sum is not received on or before the due date in full and a balance is carried forward from the previous statement, finance charges of 24.455% p.a. will be computed on a daily basis till the payment is received.
    Interest on default of payment (applicable if two payments default within 6 months continuously) The original EIR will increase by 4% per annum on your outstanding balance. The loan tenure is extended to incorporate this change and maintain the same EMI amount. If payments are made by the due date for 6 consecutive months, the original EIR will be restored.
    • 21 year old individuals up to the age of 65 years old can apply.
    • Singapore citizens and permanent residents earning S$20,000.
    • Foreigners with a valid employment pass earning S$60,000.
    • Employment passes should be:
      • P1, P2, or Q type.
      • Q Passholders should have at least 1 year validity left on their passes.

    Existing customers

    If you are an existing Principal Cardholder (not including S$500 credit cards) or a CashOne account holder of Standard Chartered, you are not required to submit any documents. In case there has been a change affecting your employer or income records, you need to submit those income documents. Standard Chartered will review them and adjust your credit limit.

    New Customers

    If you are a new customer, you need to provide the following documents.

    • Photocopy of Passport or NRIC
    • Income Documents
      1. Salaried employees and Commission earners need to provide one of the following:
        • Copy of your last month’s computerised payslip from current employer
        • Copy of latest Income Tax Notice of Assessment
        • Copy of the last six months’ CPF Contribution history statement
      2. Self-employed must be in business for at least two years and need to provide a copy of latest Income Tax Notice of Assessment
    • Address proof which is only compulsory for foreigners. Singaporean citizens and PRs whose address is different from that stated on the NRIC also need to submit any the latest copy of one of these documents.
      1. Utility or tax bills
      2. Bank or credit card statements
      3. Copy of rental agreement
      4. Mobile phone of Pay TV statements
      5. Letter stating your address from your current employer
      6. Any Government issued document that can prove your address like IRAS, CPF or ICA.
    • Employment documents applicable only to foreigners
      • Foreigners need to submit a copy of their Employment Pass.

    For new CashOne applications approved from 1 August 2014 to 31 August 2015, get rewards upon your loan approval for loans of 36, 48 and 60 month tenures. The offer is valid till stocks last and is limited to one gift per customer on a first-come, first-served basis.

    Loan Amount Gifts on approval
    S$30000 and above Get a Canon EOS 1100D Kit (EFS18-55 IS II). worth S$7999. It’s available in maroon and brown.
    $13,000 to $29,999 Get a Samsung GALAXY Tab 3 (7.0") Wi-Fi worth $298.
    $5,000 to $12,999 Get an American Tourister DC Superlite II Spinner 66cm Expandable that’s worth S$120. Available in black, purple and red.

    Standard Chartered Bank offers a variety of customers to cater to a vast segment of financial needs. Some of the products and services offered are:

    1. How long will it take for my loan to be sanctioned?
    2. It takes 4 to 7 days for approval of loan after the bank receives all the required documents.

    3. What is the maximum loan amount I can get?
    4. You will be eligible of up to 4 times your monthly income subject to a maximum loan amount of $200,000. This is based on approval of if your annual income is $30,000 and above.

    5. How is interest calculated on the loan?
    6. Interest is calculated on “front-end add-on” basis. To arrive at the interest, multiply the principal loan amount with the Applied interest rate for the full tenure.

      For eg: Loan amount = S$20,000. Applied interest + 7.50%. Tenure = 3 years.

      Interest = (20000 x 7.5/100) x 3 = S$4,500.

    7. Do I pay the same amount of interest throughout my loan tenure?
    8. No, the interest and principal amount is apportioned differently. Your EMI is divided into the principal amount and interest.

      At the beginning of your tenure, the interest portion will be higher while your principal amount will be lesser. This gets reversed as your tenure moves along to where the interest portion of the EMI is very minimal and the principal amount increases drastically. Your EMI however will remain the same.

      You can find a sample amortisation schedule on the Standard Chartered website that depicts a clear picture of your loan repayment schedule.

    9. Are there any additional charges associated?
    10. Documentation charges and application fees are deducted from the loan amount when it is disbursed.

    11. What are the options for repayment tenure?
    12. The loan must be repaid over a period of 12 to 60 months. The maximum loan tenure you can avail of is 5 years.

    13. How do I repay the loan?
    14. There are a number of ways you can make payments for your loan.

      • Through AXS and GIRO
      • At ATMS
      • At bank branch counters
    15. Can I pay my loan and credit card through one payment?
    16. No. Your CashOne Personal Loan and Platinum Credit Card have two different account numbers. You need to make separate payments for each account.

    17. Can I repay my loan earlier?
    18. You may prepay the loan after giving a 21 day notice period.

    19. Can I use the Platinum Credit card for retail transactions?
    20. The credit limit on your card is treated as part of the loan. As and when you repay the CashOne Loan, you can swipe your card up to the available credit limit on the Platinum Credit Card.

    News About Standard Chartered Bank Personal Loan

    • Standard Chartered Bank all set to launch biometric technology in Asia, Africa and Middle East!

      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

    • Standard Chartered Cashback Promotion

      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.

    • Standard Chartered Personal Loan Promotion

      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.

    • Standard Chartered bank’s mobile banking app, Dash, is now available on Lazada

      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

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