Multiple banks. Different interest rates. Call it a "conflict of interest".

    TCC Personal Loan Interest Rates

    TCC Credit Co-operative Limited offers personal loans to Singaporean salaried individuals, self-employed individuals and students. The interest rates offered by TCC are low in comparison to most banks and institutions in Singapore. So if you are looking for access to funds and wish to apply for a TCC personal loan to take care of an uninvited cash crunch, venture out into business or go on a long vacation, here is what you need to know!

    Eligibility conditions

    Banks and Co-operative institutions offering loans to citizens have certain eligibility conditions that need to be met. As for TCC, applicants are required to satisfy the eligibility parameters corresponding to income, age and employment. Here is how you can be eligible for the TCC personal loan:

    • You must be at least 21 years of age to apply for the loan.
    • You must be either a Singaporean citizen or a Permanent Resident in Singapore.
    • You are required to possess a stable employment record. TCC will look at your employment stability – number of years you’ve spent working with your current organization and your total years of experience (for salaried individuals). If you are a self-employed individual, you will be assessed on the income stability parameter.
    • All documents submitted by you have to authentic and should present accurate information about you.
    • Your credit score should be satisfactory and meet TCC’s in-house standards.  
    • Your annual income should meet the minimum income eligibility criterion.

    TCC Personal loan interest rate

    The interest rate on the TCC personal loan is 6.99% p.a. This is a flat interest rate. Applicants can request for a loan amount that corresponds to their income level and usually, an amount equivalent to four times the monthly income will be approved and sanctioned.  

    Documents to be submitted

    Front and back copy of NRIC/Passport (NRIC for Singaporean citizens and Passport for foreigners).  

    For salaried employees,

    • Latest computerized payslips.
    • CPF Contribution history (for the last 15 months).
    • Latest Notice of Income Tax Assessment.
    • Bank statements for the last 3 months.

    For commissioned earners,

    • Latest commission statement (6 months)
    • Latest INcome Tax Notice of Assessment (last 2 years)

    For self-employed,

    • 2 years Income Tax Notice of Assessment.
    • In the case of joint applicants, a copy of the marriage certificate needs to be submitted.   
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