My aunt works long hours and is a single mother to a 9 year old and 14 year old kids. As a result, her children are often stranded for petty cash or in need of cash in emergencies but still she refuses to give them cards. What do you think?
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UOB Car Loan / United Overseas Bank
The Standard Chartered car loan calculator allows for the calculation of monthly payments you’ll need to make if you take up a car loan. Simply indicate the car type, enter the required loan amount, loan term and click “Calculate”. You should remember to always consider if you’ll be financially comfortable to meet up payment for the projected monthly instalments while still meeting your basic needs before committing to a car purchase.
Standard Chartered Auto Financing / Standard Chartered Bank Singapore
This may be the cheapest car loan refinancing option in Singapore as the bank allows borrowers to refinance their existing car loans for a very competitive rate of 2.08%, which is much cheaper than most rates for new loans. While the bank also offers loans for the purchase of new and used vehicles, these rates of 2.78% and 2.98% are not the cheapest available. If you are approved to refinance your existing car loan from another bank, you may be able to save thousands of dollars by switching to OCBC due to its refinance rate of 2.08%, which is significantly cheaper than those of most car loans offered by lenders in Singapore.
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Well to start with the kids are quite young, but considering the fact of the situation of a single mother with probably no extra helping hand coupled with the long working hours, obviously giving the children cards will be a good idea for emergency sake. But before that is done, time should be taken to give the children proper financial education and orientation on card usage.