BOC MoneyPlus Line of Credit Reviews and Comparison - Seedly
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BOC MoneyPlus Line of Credit

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Personal Loans/BOC MoneyPlus Line of Credit

BOC MoneyPlus Line of Credit

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BOC MoneyPlus Line of Credit (Annual Income S$20,000 - S$29,999)

28.55%
EFFECTIVE INTEREST RATE
28.55%
FLAT INTEREST RATE
$0
PROCESSING FEE

BOC MoneyPlus Line of Credit (Annual Income ≥ S$30,000)

22.8%
EFFECTIVE INTEREST RATE
22.8%
FLAT INTEREST RATE
$0
PROCESSING FEE

    BOC MoneyPlus Line of Credit (Annual Income S$20,000 - S$29,999)

    28.55%
    EFFECTIVE INTEREST RATE
    28.55%
    FLAT INTEREST RATE
    $0
    PROCESSING FEE

Details

About Bank of China BOC MoneyPlus Line of Credit

  • Minimum required income of S$1,700 per month
  • Only pay the amount used plus interest rates
  • Low interest rates of 1.9% - 2.38% per month depending on annual income
  • Effective Interest Rates (EIR) of 22.8%-28.55% p.a.
  • Withdraw up to 4 times of your monthly income
  • At an EIR of 28.55% p.a. Bank of China has one of the best interest rates for line of credit for those with an annual income within S$20,400 - S$30,000.
  • Ideal for people with a lower annual income who are looking for a fast and short-term cash loan solution
  • However, for people with an annual income above S$30,000, Bank of China's lines of credit are not the best for you

A line of credit allows you to conveniently access cash within your credit limit for emergencies. It is a pay-as-you-use type of short term personal loan scheme. 

Read More about BOC MoneyPlus Line of Credit
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Interest Rates for Bank of China MoneyPlus Line of Credit

Annual Income (S$)

Effective Interest Rate (p.a)

20,000 - 29,999

28.55%

30,000 and above

22.8%

BOC MoneyPlus Loan Interest rates for borrowers of different annual income

Features: Pros and cons of Bank Of China MoneyPlus Line of Credit:

  • Minimum required income of S$1,700 per month
  • Only pay the amount used plus interest rates
  • Low interest rates of 1.9% - 2.38% per month depending on annual income
  • Effective Interest Rates (EIR) of 22.8%-28.55% p.a.
  • Withdraw up to 4 times of your monthly income
  • At an EIR of 28.55% p.a. Bank of China has one of the best interest rates for line of credit especially for applicants with an annual income level within S$20,400 - S$30,000.
  • Easy and convenient cash withdrawals from ATMs islandwide
  • Easy repayments available via Online or Mobile Banking, AXS etc

  • However, for people with an annual income above S$30,000, Bank of China's lines of credit are not the best for you

Other Fees: what else to look out for?

Late Fees: 2% of minimum payment sum (or S$100 per month, whichever is greater)

Minimum Monthly Payment: 3% of the monthly balance outstanding (or S$50, whichever is greater)

Eligibility: who can apply for Bank of China MoneyPlus Line of Credit

  • Account holders of Bank of China's MoneyPlus account

Contact Bank of China:

Tel: 1800 669 5566 (toll free for Singapore)

Tel: (65) 6779 5566 (for overseas)

Email: [email protected]

Address: 4 Battery Road, Bank of China Building, Singapore 049908