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Bank of China $martLoan

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Personal Loans/Bank of China $martLoan
Personal Loans/Bank of China $martLoan
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Plans (7)

Slide 1 of 7
  • BOC $martLoan (1 Year Tenure)

    18.72%

    EFFECTIVE INTEREST RATE

    6.62%

    FLAT INTEREST RATE

    3% of principal amount, subjected to min. of S$100

    PROCESSING FEE

  • BOC $martLoan (2 Year Tenure)

    15.73%

    EFFECTIVE INTEREST RATE

    6.48%

    FLAT INTEREST RATE

    3% of principal amount, subjected to min. of S$100

    PROCESSING FEE

  • BOC $martLoan (3 Year Tenure)

    14.69%

    EFFECTIVE INTEREST RATE

    6.52%

    FLAT INTEREST RATE

    3% of principal amount, subjected to min. of S$100

    PROCESSING FEE

  • BOC $martLoan (4 Year Tenure)

    14.18%

    EFFECTIVE INTEREST RATE

    6.57%

    FLAT INTEREST RATE

    3% of principal amount, subjected to min. of S$100

    PROCESSING FEE

  • BOC $martLoan (5 Year Tenure)

    13.86%

    EFFECTIVE INTEREST RATE

    6.66%

    FLAT INTEREST RATE

    3% of principal amount, subjected to min. of S$100

    PROCESSING FEE

  • BOC $martLoan (6 Year Tenure)

    17.05%

    EFFECTIVE INTEREST RATE

    8.63%

    FLAT INTEREST RATE

    3% of principal amount, subjected to min. of S$100

    PROCESSING FEE

  • BOC $martLoan (7 Year Tenure)

    16.89%

    EFFECTIVE INTEREST RATE

    8.86%

    FLAT INTEREST RATE

    3% of principal amount, subjected to min. of S$100

    PROCESSING FEE

BOC $martLoan (1 Year Tenure)

18.72%

EFFECTIVE INTEREST RATE

6.62%

FLAT INTEREST RATE

3% of principal amount, subjected to min. of S$100

PROCESSING FEE

Details

Bank of China $martLoan Review 2021

Bank of China (BOC) Smart Loan is a personal loan scheme by Bank of China Singapore that offers the longest loan tenor of 7 years, check out the highlights of BOC $martLoan:

  • 6.48% - 8.86% flat interest rate p.a.
  • Effective Interest Rate (EIR) of 13.86% - 18.72% p.a.
  • one of the longest repayment period of up to 7 years
  • Fixed monthly repayment amount
  • With just S$6 a day, you can get extra cash of S$10,000
  • Interest is calculated based on a reducing balance method, not original loan amount
  • Bank of China's personal loan interest rates are not the best
  • However, it is one of the few banks that has a relatively lower minimum annual income requirement of S$20,000
  • Ideal for borrowers who need a longer time ( up to 7 years) to service their loans.

Read More about Bank of China $martLoan
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      Interest Rates for Bank of China Personal Loan BOC $martLoan

      Tenure (years)

      Equivalent Flat Interest Rates ( p.a.)

      Effective Interest Rates (p.a.)

      Applied Interest Rates (p.a.)

      1

      6.62%

      18.72%

      12%

      2

      6.48%

      15.73%

      12%

      3

      6.52%

      14.69%

      12%

      4

      6.57%

      14.18%

      12%

      5

      6.66%

      13.86%

      12%

      6

      8.63%

      17.05%

      15%

      7

      8.86%

      16.89%

      15%

      Features: Pros and cons of Bank Of China BOC $martLoan

      • 6.48% - 8.86% flat interest rate p.a.
      • Effective Interest Rate (EIR) of 13.86% - 18.72% p.a.
      • one of the longest repayment period of up to 7 years
      • Fixed monthly repayment amount
      • With just S$6 a day, you can get extra cash of S$10,000
      • Interest is calculated based on a reducing balance method, not original loan amount
      • Complimentary Line of Credit granted at the lowest interest rate
      • However, it is one of the few banks that has a relatively lower minimum annual income requirement of S$20,000
      • Ideal for borrowers who need a longer time ( up to 7 years) to service their loans.

      • Bank of China's personal loan interest rates are not the lowest available

      • More details on Bank Of China's personal loan $martLoan.

      Other Fees: what else to look out for?

      • Processing fee: 3% (or S$150, whichever is greater)
      • Cash Advance Fee: 6% (or S$20, whichever is greater)
      • Late Fee 2% per month (min S$100)
      • Cancellation Fee: S$100

      Eligibility: who can apply?

      • 21 years old and above
      • Minimum annual income of S$20,000 for Singaporeans and PR

      Contact Bank of China

      • Tel: 1800 669 5566 (24/7 Cutomer Service hotline for Singapore)
      • Tel: (65) 6779 5566 (for overseas)
      • Address: 4 Battery Road, Bank of China Building, Singapore 049908
      • Visit the 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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