facebookMaybank CreditAble Term Loan Reviews and Comparison - Seedly

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Personal Loans/Maybank CreditAble Term Loan
Personal Loans/Maybank CreditAble Term Loan
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Summary

Maybank CreditAble Term Loan

Maybank CreditAble Term Loan is a lump sum personal loan scheme by MayBank Singapore. Suitable for lump sum payments like home renovations.

Loan Features & Details

1) Key Features

  • Interest rate of 3.88% p.a (EIR from 7.09% p.a)
  • Loan tenure from 1 to 5 years
  • Processing fee of 1.0% (waived for online application)

2) Eligibility

  • Existing CreditAble account holder
  • Age: 21 to 65 years old
  • Citizenship: Singaporeans and PRs
  • Minimum annual income: S$30,000

3) Fees

  • Partial prepayment: Not allowed
  • Early settlement fee: 3.0% of outstanding Term Loan amount or S$200, whichever is higher

4) Application Process

  • Head to Maybank’s website to apply online
  • For existing CreditAble account holders, apply here
  • For new customers with no CreditAble account, apply here
...see more

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Plans (5)

Slide 1 of 5

Maybank CreditAble Term Loan (1 Year Tenure)

12%

EFFECTIVE INTEREST RATE

6%

FLAT INTEREST RATE

2% of principal amount

PROCESSING FEE

Maybank CreditAble Term Loan (2 Year Tenure)

12%

EFFECTIVE INTEREST RATE

6.38%

FLAT INTEREST RATE

2% of principal amount

PROCESSING FEE

Maybank CreditAble Term Loan (1 Year Tenure)

12%

EFFECTIVE INTEREST RATE

6%

FLAT INTEREST RATE

2% of principal amount

PROCESSING FEE

Reviews (1)

1.0

1 Reviews

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1
1
      12 Apr 2021

      Purchased

      Maybank CreditAble Term Loan (1 Year Tenure)

      Honest Review, if is not them, I wont be in a deep horrible zone now. [Hidden Terms] yes hidden and never give chance to debtors [Customer Service] horrible horrible horrible !

      0

      What are your thoughts?

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      Popular Products

      Interest Rates for Maybank CreditAble Term Loan

      Repayment Period (years)

      Processing Fee

      Interest Fee p.a.

      Effective Interest Rate (EIR) p.a.

      1

      2%

      4.62% p.a.

      12% p.a.

      2

      2%

      5.49% p.a.

      12% p.a.

      3

      2%

      5.86% p.a.

      12% p.a.

      4

      2%

      5.52% p.a.

      11% p.a.

      5

      2%

      5.69% p.a.

      11% p.a.

      based on a loan plan of S$9,000

      Features of Maybank CreditAble Personal Term Loan

      • With flat interest rates as low as 4.62% p.a.
      • For a loan duration of 1 year - 3 years, Effective Interest Rate (EIR) is 12% p.a.
      • For a loan duration of 4 years - 5 years, Effective Interest Rate (EIR) is 11% p.a.
      • Affordable fixed monthly repayments of up to 60 months (5 years)
      • Fixed processing fee of 2%
      • Suitable for lump sum payments like home renovations.

      Cons:

      • Effective interest rates are subject to compounding if monthly interest charges are not paid in full
      • Maybank personal term loan, CreditAble, does not offer the lowest interest rate for personal loans

      Promotions

      • Online only offer of interest rate from 4.62% to 5.86% p.a. (originally 6% - 6.88%p.a.)

      Eligibility: who can apply for Maybank CreditAble Personal Term Loan?

      • Above 21 years old
      • Annual income of at least S$30,000 for Singaporeans and PR
      • Be a Maybank CreditAble account holder

      Other Fees: what else to look out for

      • Minimum payable amount: 3% of outstanding amount (or $30, whichever is greater)
      • Minimum interest charge: $5

      Contact Maybank Singapore

      • Tel: 1800-629 2265 (1800-MAYBANK)
      • Tel: (65) 6533 5229 (Overseas)
      • Address: Maybank Tower, 2 Battery Road Maybank Tower Singapore 049907

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.

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