OCBC Cash-On-Instalment
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Summary
OCBC Cash-on-Instalment
Cash-on-Instalment is a fast cash loan scheme from OCBC Singapore, that allows you to access extra cash from your unused credit limit.
Loan Features & Details
1) Key Features
- Interest rates from 3.50% per annum (EIR 6.96% per annum)
- Loan tenure period of a minimum 1 year to a maximum of 5 years
- Fixed monthly repayments for your Cash-on-Instalments plan
- Minimum loan amount of S$1,000
2) Eligibility
- Citizenship: Singaporeans, PRs, and Foreigners
- Age: 21 years old and above
- Minimum income requirement: S$20,000 (Singaporeans & PRs); S$45,000 (Foreigners)
3) Fees
- Processing fee: 1.0%
- Account termination fee: S$100
4) Application Process
How to apply?
- Head to OCBC’s website to apply for the loan online
- An EasiCredit account or OCBC Credit Card is required to apply for Cash-on-InstalmentsÂ
- Customers without the above will be prompted to create an EasiCredit account before proceeding with the loan application
- Login to OCBC online bankingÂ
- Complete and submit loan application
Supporting documents
- No additional income documents needed for applicationÂ
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Summary
OCBC Cash-on-Instalment
Cash-on-Instalment is a fast cash loan scheme from OCBC Singapore, that allows you to access extra cash from your unused credit limit.
Loan Features & Details
1) Key Features
- Interest rates from 3.50% per annum (EIR 6.96% per annum)
- Loan tenure period of a minimum 1 year to a maximum of 5 years
- Fixed monthly repayments for your Cash-on-Instalments plan
- Minimum loan amount of S$1,000
2) Eligibility
- Citizenship: Singaporeans, PRs, and Foreigners
- Age: 21 years old and above
- Minimum income requirement: S$20,000 (Singaporeans & PRs); S$45,000 (Foreigners)
3) Fees
- Processing fee: 1.0%
- Account termination fee: S$100
4) Application Process
How to apply?
- Head to OCBC’s website to apply for the loan online
- An EasiCredit account or OCBC Credit Card is required to apply for Cash-on-InstalmentsÂ
- Customers without the above will be prompted to create an EasiCredit account before proceeding with the loan application
- Login to OCBC online bankingÂ
- Complete and submit loan application
Supporting documents
- No additional income documents needed for applicationÂ
Plans (5)
OCBC Cash-On-Instalment (1 Year Tenure)
10.45%
EFFECTIVE INTEREST RATE
4.70%
FLAT INTEREST RATE
1% of principal amount
PROCESSING FEE
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Interest Rates for OCBC Cash on Instalment
Tenure (years) | Interest Rate p.a. | Processing Fee | Effective Interest Rate (EIR) |
|---|---|---|---|
1 | 4.70% | 1% of the approved loan amount | 10.45% |
2 | 4.70% | 1% of the approved loan amount | 9.77% |
3 | 4.70% | 1% of the approved loan amount | 9.46% |
4 | 4.70% | 1% of the approved loan amount | 9.24% |
5 | 4.70% | 1% of the approved loan amount | 9.06% |
Interest Rates for OCBC Cash On Instalment assuming a loan of S$10,000
Features: Pros & cons of OCBC Cash on Instalment
- Easily loan cash from your unused credit limit
- With interest rates from 4.70% p.a.
- Effective Interest rates from 9.05% p.a. to 10.45% p.a.
- A more long-term cash-flow option
- Repay in fixed monthly repayments with tenure of up to 60 months (5 years).
Is It the Best? OCBC Cash on Instalment Review
- Competitive only for loan durations of 4 and 5 years
- Generally, a rather expensive personal loan scheme
- More details on this OCBC cash loan scheme and Personal Loan Calculator here
Other fees: what else to look out for?
- Processing fee: 1% of approved loan amount
Eligibility: who can apply for OCBC Cash On Instalments?
- Above 21 years old
- Annual income of at least S$20,000 for Singaporeans and PR
- Annual income of S$45,000 and above for foreigners
- Be an OCBC Credit Card or OCBC EasiCredit account holder
Contact OCBC Singapore
- Tel: +65 6363 3333
- Address: OCBC Bank, 65 Chulia Street, #01-00, OCBC Centre, Singapore 049513
Contact us at [email protected] should you require any assistance or spot any inaccuracies.