facebookBank of China MoneyPlus Term Loan Reviews and Comparison - Seedly

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Personal Loans/Bank of China MoneyPlus Term Loan
Personal Loans/Bank of China MoneyPlus Term Loan
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Summary

Bank of China MoneyPlus Term Loan

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  • Cash advance fee: S$20 or 6.0% of amount withdrawn, whichever is higher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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Plans (3)

Slide 1 of 3

BOC MoneyPlus Term Loan (1 Year Tenure)

19.46%

EFFECTIVE INTEREST RATE

6.38%

FLAT INTEREST RATE

5%

PROCESSING FEE

BOC MoneyPlus Term Loan (2 Year Tenure)

17.89%

EFFECTIVE INTEREST RATE

7.38%

FLAT INTEREST RATE

5%

PROCESSING FEE

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.

      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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