Asked 3w ago
If you have existing credit card, go for balance transfer loan.
Balance transfer loan means using your existing credit card to take a sum of cash to deposit into your bank account to use.
Usually balance transfer loan are very cheap for the first 6 months (1% to 2% pa for 6months) and will go to 24% after 6months. So roll them if possible every 6months, meaning you pay them off and retake again for 6 months in a day.
As usual, the foreign banks are the one offering the best rates, such as Standard Chartered bank, Maybank etc. Call or email them directly.
SC 6mths balance transfer has always been 1% processing fee + 0% interest.
You can give them your email and contact number to [email protected]
Typically, banks require annual incomes of at least S$20,000 - S$30,000. In some cases, banks require that foreigners earn at least S$40,000. Loans are generally limited to 4x your monthly income (max. S$100,000) or 8x for high-income individuals (S$120K annual salary). Our guide should help you compare the best rates and determine your eligibility.
OCBC EasiCredit (Annual Income S$20,999 - S$29,999)
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