Cash woes? A personal loan to the rescue!
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    We found 1 Standard Chartered Personal Loan Review: Enjoy Fast Cash Disbursal
    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 6.88% p.a. EIR from 12.75%p.a.
    1-5 Years
    What you'll love
    What you need
    What you need to consider
    What it costs

    Standard Chartered Personal Loan Review: Enjoy Fast Cash Disbursal

    Whether you need cash for your wedding or whether you need a loan to consolidate your interest-bearing unsecured debts, you may consider Standard Chartered Bank to dish out what you need. If you opt for the CashOne Personal Loan and your application is approved, the loan may be sanctioned and the money may be released within a single working day, subject to certain conditions. If your annual income is greater than or equal to S$30,000, you’ll also get a credit card with the loan. The card will come with an annual fee waiver for 5 years. If you’re on the verge of bankruptcy or if your debt burden ratio is too high, you can also approach the bank and set up a debt consolidation arrangement. With this, you can not only gain more control over your cash flow and finances but you may also become debt-free faster due to low interest charges.

    A Loan for Every Occasion - What Are Your Options?

    Standard Chartered Bank offers a range of personal loans. While a term loan could pave the way for a surprise foreign holiday package, a DCP can help you recover from a potential financial crisis. Here’s what you should know about the options:

    • CashOne Personal Loan: Whether you need money to run some emergency medical diagnostic tests or to repair your car, you can “cash in” on this opportunity to get quick cash in a completely hassle-free manner. You can borrow up to 4x your monthly income and get cash within 1 business day of approval, subject to conditions. Interest rates can be as low as 6.88% p.a. You’ll also get a complimentary card with an annual fee waiver for 5 years.
    • Debt Consolidation Plan: One loan. One account. One payment. Isn’t the idea fascinating? When debt reaches worrying levels, this loan can be of great help. The flat interest rate can be as low as 4.5% p.a. and can go up to 5.88% p.a. You can repay your loan over a period of 3 years at least and 10 years at most. You’ll also get a Platinum Mastercard Credit Card with a limit of up to 1x your monthly income for easier management of your expenses.

    Complimentary Credit Card, Competitive Interest Rates: Are the Loans Cost-Effective?

    Are you wondering if the loan offerings from SCB provide a lot of bang for the buck or not? A look at the following features and benefits of these products might help you get an idea:

    • Maximum amount available for borrowing: With the CashOne Personal Loan, you can borrow up to 4x your monthly income, capped at S$250,000. If you choose the DCP loan, you can borrow an amount equal to the value of your outstanding unsecured debt balance, including fees and interest charges and an additional allowance of 5%, if you’re applying for a DCP for the first time.
    • Minimum amount available for borrowing: You can’t borrow less than S$1,000 with the instalment loan. The approved loan amount for your DCP has to exceed 12 times your monthly income.
    • Superfast turnaround: If you apply for a term loan by 2:00 p.m. on a working day and if your application is approved, funds will be released on the next business day.
    • Flexible loan repayment period: For the debt consolidation programme, the tenure can be as low as 3 years and it can stretch up to 10 years. With the CashOne term loan, however, you can’t stretch your loans beyond 5 years. The lowest tenure is 1 year for this loan.
    • Competitive rates: The effective interest rate on the instalment loan starts from 12.75% p.a. and can go up to 27.56% p.a. The effective interest rate varies in the range of 9.55% p.a. and 11.77% p.a. on the DCP.
    • Revolving credit: With the CashOne loan, you’ll get a Platinum Visa Credit Card for which you’ll be charged no annual fee for 5 years. If you apply for the DCP loan, you’ll also get a card for daily use that comes with a credit limit equal to your monthly income. Under this programme, you’ll enjoy an annual fee waiver on your card.
    • Consolidated statements:  The bank issues consolidated statements on regular intervals to help you stay up to date with your loan transactions.
    • Exclusive promotions: From time to time, the bank rolls out promotional offers exclusively for its loan customers. If you time it right, you could get cashback, gift vouchers, or more along with your loan.

    Enjoy Low Interest Payments and Greater Savings With These Loans

    If you apply for this instalment loan, you may be offered an interest rate that will be in the range of 6.88% p.a. and 10.8% p.a. Remember that the bank will take the final call on the rate that you’ll be offered. It can be different from the published rates or from what other customers have been offered.

    [Disclaimer: The rates listed here are for illustrative purposes only and can be different from the actual rates offered. The effective interest rate, in the example, accounts for the first year annual fee of S$199.]

    For the DCP loan, the flat rate will range from 4.98% p.a. to 6.88% p.a. The effective interest rate will depend on the loan amount and administrative fees, where applicable. If you were to apply for a DCP amount of S$60,000, and choose a tenure of 8 years, you’ll possibly be charged an applied interest rate of 5.68% p.a. and an effective interest rate of 10.05% p.a. To calculate the actual cost of your borrowing, the bank will consider administrative charges such as the annual fee.

    Know About the Following Important Fees and Charges

    Click here to form a detailed understanding of the fees applicable on CashOne Personal Loan and here to learn about the fees that will be charged on the Debt Consolidation Plan.

    In brief, the following fees may apply to your loan:

    • A joining fee.
    • A restructuring fee, if applicable.
    • A late payment fee, if applicable.
    • A default interest charge, if you make a late payment.
    • An early repayment fee if you plan for an early redemption of your loan.

    You may also have to pay additional charges for your card.

    Don’t Lose Sight of the Following: Annual Fee Will Be Charged Upfront and Reimbursed Later

    Don’t apply before you have carefully pondered over the following:

    • The first year annual fee on the CashOne loan will be deducted from the loan amount approved. It will be reimbursed to you later (applicable until 30 November 2018).
    • No rewards will be offered on your loan payments.
    • An annual fee of S$50 will be charged on your term loan from the second year onwards if you don’t pay the dues on time.
    • If you want to consolidate the unpaid balances on your existing unsecured credit facilities, you have to do it in full and with one lender (SCB in this case) only.
    • You can’t apply for a temporary credit limit increase on your card as long as you’re under the debt programme.

    Are You Eligible for These Standard Chartered Loans?

    In order to be eligible, you’ll have to satisfy the following common criteria:

    • Be a Singaporean citizen or PR.
    • Be aged between 21 years and 65 years.

    If you’re a foreigner, you can’t apply for a DCP loan but you may apply for the term loan, provided you meet the minimum income conditions. Don’t forget to submit the relevant documents to buttress your application. An incomplete application and/or missing documents can lead to unnecessary delays.

    Convenient Modes of Application

    Applying for either of the two loans is simple and fast. If you wish to apply for the instalment loan from the bank, you can do so on our website. If you wish to apply for the DCP loan from SCB, fill up the contact form on the bank’s website. A bank official will contact you to take the process forward.

    Sometimes, despite financial planning, you may find yourself in situations where you have to borrow money to honour a commitment. These SCB loans are customer-friendly and could offer you value for money. Borrowing isn’t financially unhealthy until you start defaulting on your payments. Remember to make your payments on time and enjoy a fuss-free life with these loans.


    News About Standard Chartered Bank Personal Loan

    • Standard Chartered Splits its Operation Between Singapore and Hong Kong

      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 Digital Platform Shows Growth in Customer Base

      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 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

    Standard Chartered Personal Loan Reviews

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