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Advantages include but are not limited to:

  • Ready access to extra cash
  • Enjoy flexible repayment options
  • Interest is charged only on the amount used

Disadvantages include but are not limited to:

  • Drawing over your limit will attract over-limit fees and additional fees
  • Annual fees may be incurred even if you have not utilized your credit line
  • Your credit score can be badly affected if you do not make payments in full on your amount you utilise

Typical fees/charges are Annual Fee, Late payment fee, Over-limit fee, Returned cheque fee, etc.

Some of the common modes of repayment are online banking, ATMs, SAM SingPost, mobile banking, AXS stations, etc.

Repayment is flexible, as long as you repay a percentage of the outstanding balance or the minimum monthly repayment amount, whichever is higher.

Interest accrues on a daily basis on the outstanding amount in your account based on the prevailing interest rate, subjected to a minimum monthly repayment amount.

The credit limit assigned to you can be up to 4 times your monthly income ($30,000 and above), or up to 10 times your monthly income if you earn $120,000 and above per annum.

You may use your credit line via cheque issuance, cash withdrawal using the debit card issued by the bank, or via online banking.

Line of Credit is an unsecured credit facility granted to you based on your monthly income. Therefore, no collateral or guarantor is required.

You must be between 21 to 65 years of age with a minimum annual income:

  • From $20,000 for Singaporeans and Permanent Residents
  • From $40,000 for Foreigners with Employment Pass validity of at least one year

Line of Credit is a revolving credit facility that gives you access to extra cash that you may need during emergencies. Interest is only charged on the utilized amount.