Standard Chartered Bank Personal Loan
Compare Standard Chartered Bank personal loan packages against offers from other leading personal loan providers in Singapore
About the provider
Standard Chartered Bank in Singapore is part of an international banking group with more than 84,000 employees and a 150-year history in some of the world's most dynamic markets. It offers deposit-taking, wealth management services, overdrafts, personal loans, credit cards, auto financing and mortgages. They also provide private banking services through its private banking division.
Why should I choose Standard Chartered Bank personal loan?
Standard Chartered personal loan is your ultimate option if you want to realize your financial goals faster. Apply, get approved and enjoy the following benefits:
- Next day cash – Apply and expect to get cash the very next banking day through Standard Chartered’s CashOne Personal Loan
- Competitive rates – For as low as 6.88% interest rate per annum, you can undoubtedly make efficient budgeting plans. You can also manage your money with flexible monthly repayment scheme from one to five years.
- Earn cashback – Standard Chartered rewards online application for personal loans with $50 cashback and up to $1,088 when your application is approved.
- Extra cash plus credit card – Personal loans are capped at up to 4x times your monthly salary. You can also enjoy annual fee waiver for five years on your Platinum Visa credit card should you have a yearly income of more than $30,000
What benefits does Standard Chartered Bank personal loan provide?
Standard Chartered CashOne
Get up to $1,088 CashBack on your approved loan for Standard Chartered CashOne. Plus, receive an additional $50 CashBack when you apply online.
Get approval-in-principle for a personal loan of up to 4x of your monthly income (maximum $200,000) within 60-seconds and a 5-year annual fee waiver on the Platinum credit card if you have an annual income of $30,000 and above. If you have an annual income of $20,000 to $29,999, you can still get up to 2x of your monthly income with a Standard Chartered CashOne personal loan.
Depending on your loan quantum and tenor, enjoy interest rates from as low as 6.88% p.a. (Effective interest rate of 12.75% p.a.) and you can better manage your finances with a flexible monthly repayment schedule.
This loan is available for Singapore Citizens & Permanent Residents (with a minimum annual income of $20,000) and Foreigners with an Employment Pass (with a minimum yearly salary of $60,000) aged between 21 and 65 years old.
Standard Chartered Auto Financing
The Standard Chartered Auto Financing plan offers you a flexible repayment plan ranging from 12 to 60 months. This scheme will lower your installment payments of up to 60% financing. You can enjoy attractive fixed interest rate packages that offer you peace of mind against rate fluctuations and purchase the car of your choice from any of their 200+ dealers located conveniently island wide.
Standard Chartered fees and terms are transparent with no hidden costs and unpleasant surprises. You can pay your bills easily with payment channels such as GIRO, AXS stations, Self-service Automated Machine (S.A.M.), Cheque, Standard Chartered Online Banking and cash payment at Cash Deposit Machines.
If you wish to effect early completion of the purchase of the goods or the termination of the hiring of the products before the expiration of the hire period, you can easily visit designated Standard Chartered Bank locations as well.
How do I qualify for Standard Chartered Bank personal loan?
- Applicants should be between 21 and 65 years old
- Singaporean citizens and permanent residents should have a minimum income of $20,000
- Foreign applicants should have an employment pass and a minimum income of $60,000
- Applicants should be P1, P2 or Q type employment pass holders
- Q Pass holders should have at list one-year remaining validity on their passes
- Salaried applicants should present their latest income tax notice of assessment, CPF contribution history statement for the last six months, Latest computerized payslip and copy of NRIC and passport
- Self-employed individuals should submit a copy of their latest income tax notice of assessment which indicates they have been in the business for at least two years
- Commission earners should submit either their payslip for the last three months, six months’ statement of their CPF contribution or latest income tax notice of assessment
How do I apply for Standard Chartered Bank personal loan?
Apply online with the following considerations:
- For existing Standard Chartered Credit Cardholder, you will be applying for a Credit Card Installment Loan which will draw down from your existing Credit Card limit.
- For existing Standard Chartered Personal Credit customer, your line of credit may be converted to a CashOne personal loan.
- If you are currently a Standard Chartered credit card holder with a credit limit of $500, and your annual income ranges from $20,000 to $29,999, your Credit Card account will be closed upon approval of the CashOne personal loan.
What other products does Standard Chartered Bank offer?
Other products from Standard Chartered bank which you can check include:
- Credit card – Standard Chartered allows you to earn unlimited cashback on all spend. You can also enjoy 0% rates on fund transfers and convert all retail transactions above $500 into installments. Standard Chartered credit cards also allow bills consolidation for recurring payment schedules.
- Accounts and deposits – The Bonus$saver current account will enable you to earn a maximum of 3.88% interest per annum when you deposit $100,000. Current online promotions also include Lenovo Tab 3 Essential –inch tablet for a minimum deposit of $10,000; Acer Iconia One 10-inch tablet for a minimum deposit of $50,000 and $88 cashback when you deposit at least $10,000.
- Insurance – Health insurance plans from Standard Chartered provides coverage for critical illnesses. The PRUshield Health insurance gets you covered for unexpected medical costs. On the other hand, PRUshield Extra Health Insurance is designed to enhance your basic shield plan.