What is OCBC ExtraCash Loan annual interest rate and monthly minimum repayment amount?
I would like to know the interest Rates based on annual income for the OCBC ExtraCash Loan. I have an annual income that is between S$20,000 - S$45,000.
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OCBC ExtraCash Loan
OCBC offers a diverse type of loans which can range from Cash Loans, Student Loans, and similar types of financing. Not to be looked down, but OCBC is very ideal low-income individuals as it provides a justified interest rate and also offers fixed payment and flexible payment options.31
EasiCredit as a standby line of credit offers you the flexibility of choosing how long and how much you would like to repay on your outstanding balance. The have a prevailing interest rate of 29.8% p.a. You can expect to pay a minimum repayment which should be about 5% of outstanding amount or $50 depending on which is higher with a maximum credit limit two times your monthly salary. The monthly minimum repayment amount shall include any amounts above your approved credit limit and any overdue payments in respect of the Account. The monthly minimum repayment amount is not applicable to Cash-on-Instalments. Be warned that if the minimum payment to your EasiCredit account is not received by OCBC bank by the payment due date, the prevailing interest rate applicable to your outstanding amount(s) may increase to up to 36% p.a.