My family and I are on a vacation in out of the town. We stayed there for two weeks. Yet in our hometown there is a typhoon that we didn't know that will come. So we stayed out of town to keep safe as per the authorities, we cannot go home yet. After the week of typhoon, we went home and found some of the parts of our house damaged and broken due to the strong winds and rain.
This card is a great contender for the 7-year personal loans lead yet is the relative newcomer on the block. This does not stop them from being very aggressive in Singapore these past few years. Although Bank of China $martLoan’s interest rates are on the high side, Bank of China is generally more lenient than most other banks in Singapore and have a lower minimum annual income.
Bank of China $martLoan / Bank of China
Maybank does not exactly offer a proper personal loan in itself but its term loan is linked to its personal credit line product. You just need to sign up for CreditAble in order to cash your credit line using the Maybank CreditAble Term Loan but note the terms & conditions and annual fee however. In my personal opinion, the loan amount is small while the interest is high, so it may be best to avoid this one.
Maybank Personal Loan / Maybank Singapore
One can us the Citi Quick Cash for big ticket purchases and projects like home renovations while you can basically use the Citi Quick Cash for any type of expenses. On the other hand, you can also apply for a Citi Quick Cash to pay for urgent expenses such as medical bills, business expenses, unexpected repairs and much more. With Citi Quick Cash, the possibilities are in fact endless. You can also convert your unutilised credit limit to cash in your Citi Deposit Account in 60 seconds. A major plus is that you can get the cash on your terms and anytime on your mobile phone and repay with plans up to 60 months. No documents required and no hidden fees.
Citi Quick Cash / Citibank Singapore
The CIMB CashLite personal loan is based on your available credit card credit limit therefore you have to be a CIMB cardholder to apply for it. One other good thing CIMB credit cards have is that there are no annual fees but CIMB doesn’t publish their interest rates online. The actual interest rate is personalised based on your risk profile and credit history so you might very well end up with a higher interest rate than advertised.
CIMB CashLite / CIMB Bank Berhad Singapore Branch
If you need to borrow a large amount but cannot afford a big monthly repayment, then you should give consideration to the HSBC Personal Loan. This HSBC personal loan offers the longest loan tenure of 7 years in Singapore which means you’ll be paying 7 years’ worth of interest. HSBC is also great for those who need cash urgently as you can get approval-in-principle within one minute and receive the money the next working day. Isn’t that just wonderful?
HSBC Personal Loan / HSBC Bank Singapore
Although standard Chartered personal loan’s published rates aren’t that awesome, you still get a much lower interest rate as well as $199 cashback for loans of $1,000 and above if you apply through MoneySmart for your loan amounts of $1,000 to $250,000. Like most of its competitors, Standard Chartered Bank promises next-day cash. You can apply via MyInfo via MoneySmart to get instant approval and loan disbursement
Standard Chartered CashOne Personal Loan / Standard Chartered Bank Singapore
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If you need funds for your renovations, you should get a renovation loan instead of getting a personal loan. While a personal loan does the same job as that of renovation loans, banks and moneylenders check a person's credit risk and where they will use the money to determine if they should lend you money.