BOC $martLoan Reviews and Comparison - Seedly
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BOC $martLoan

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Personal Loans/BOC $martLoan

BOC $martLoan

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Plans (7)

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  • 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

About 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.

BOC Smart Loan is a personal loan scheme by Bank of China Singapore that offers the longest loan tenor of 7 years.

Read More about BOC $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)

Email: [email protected]

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