Bank of China MoneyPlus Term Loan
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Summary
Bank of China MoneyPlus Term Loan Review
Bank of China (BOC) MoneyPlus Term Loan offers a structured monthly repayment plan for you to manage your finances more effectively. This loan is suitable for borrowers who only need a short-term loan of up to 3 years and are confident of paying off their loans on time
Loan Features & Details
1) Key Features
- Interest rate of 8.13% per annum
- Loan tenure from 1 to 5 years
- Fixed monthly repayment amount
- Minimum monthly repayment sum to be 3% of the monthly outstanding balance, plus any outstanding minimum payment sum or S$50, whichever is higher
- One-time processing fee dependent on annual income:
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2) Eligibility
- Age: 21 years old and above
- Citizenship: Singaporeans, PRs, Foreigners
- Minimum income requirement: S$1,700
3) Fees
- Late payment fee: 2.0% of minimum payment sum or S$100 per month, whichever is higher
- Cash advance fee: S$20 or 6.0% of amount withdrawn, whichever is higher
- Overlimit fee: S$40
4) Application Process
- To apply, SMS BOCMP<space>TLWS<space>NAME<space>NRIC/Passport Number to 75665
- Alternatively, contact BOC’s 24-hour Customer Service hotline at 1800 338 5335
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Summary
Bank of China MoneyPlus Term Loan Review
Bank of China (BOC) MoneyPlus Term Loan offers a structured monthly repayment plan for you to manage your finances more effectively. This loan is suitable for borrowers who only need a short-term loan of up to 3 years and are confident of paying off their loans on time
Loan Features & Details
1) Key Features
- Interest rate of 8.13% per annum
- Loan tenure from 1 to 5 years
- Fixed monthly repayment amount
- Minimum monthly repayment sum to be 3% of the monthly outstanding balance, plus any outstanding minimum payment sum or S$50, whichever is higher
- One-time processing fee dependent on annual income:
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2) Eligibility
- Age: 21 years old and above
- Citizenship: Singaporeans, PRs, Foreigners
- Minimum income requirement: S$1,700
3) Fees
- Late payment fee: 2.0% of minimum payment sum or S$100 per month, whichever is higher
- Cash advance fee: S$20 or 6.0% of amount withdrawn, whichever is higher
- Overlimit fee: S$40
4) Application Process
- To apply, SMS BOCMP<space>TLWS<space>NAME<space>NRIC/Passport Number to 75665
- Alternatively, contact BOC’s 24-hour Customer Service hotline at 1800 338 5335
Plans (3)
BOC MoneyPlus Term Loan (1 Year Tenure)
19.46%
EFFECTIVE INTEREST RATE
6.38%
FLAT INTEREST RATE
5%
PROCESSING FEE
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Interest Rates for Bank of China MoneyPlus Term Loan
Tenure (Years) | Flat Interest Rate (p.a) | Effective Interest Rate (p.a) |
|---|---|---|
1 | 6.38 | 19.46 |
2 | 7.38 | 17.89 |
3 | 8.68 | 18.77 |
For borrowers of annual income between S$20,000 and S$29,999
Tenure | Flat Interest Rate (p.a) | Effective Interest Rate (p.a) |
|---|---|---|
1 | 6.38% | 14.58% |
2 | 7.38% | 15.40% |
3 | 8.68% | 17.07% |
For borrowers of annual income above $30,000
Features: Pros and cons of BOC MoneyPlus Personal Term Loan
- Low applied Interest rate of 6.38% p.a.
- Short repayment period of up to 36 months ( 3 years)
- Fixed repayment amount every month
- Low one-time processing fee of 2% for applicants with annual income of at least $30,000
- One-time processing fee of 5% for applicants with annual income of S$20,000 - S$29,999
- Get a loan amount of S$10,000 while paying the minimum payable amount
- Approved BOC MoneyPlus Term Loan funds can be transferred into any bank's savings or current account of your choice
- Suitable for borrowers who only need a short-term loan of up to 3 years and are confident of paying off their loans on time.
- More details on BOC MoneyPlus Term Loan
Fees for BOC MoneyPlus Personal Term Loan: what else to look out for?
- Processing fee (for borrowers of annual income between S$20,000 and S$29,999): 5%
- Processing fee (for borrowers of annual income above $30,000): 2%
Contact Bank of China:
- Tel: 1800 669 5566 (toll free for Singapore)
- Tel: (65) 6779 5566 (for overseas)
- Address: 4 Battery Road, Bank of China Building, Singapore 049908
- VIsit Bank of China official website for more information
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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