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OCBC ExtraCash Loan

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Summary

OCBC ExtraCash Loan

Loan Features & Details

1) Key Features

  • Interest rate ranges from 5.42% – 13.14% depending on loan tenure and annual income bracket 
  • Loan tenure from 1 to 5 years
  • Maximum loan amount depends on annual income:
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  • Instant loan approval and disbursement when you apply via MyInfo

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%
  • Late fee: S$80
  • Early partial/full repayment fee: 3.0% of the amount to be paid with 1-month interest in lieu if redemption is done immediately
  • Restructuring fee: 3.0% of the outstanding loan amount

4) Application Process

How to apply?
  • Head to OCBC’s website to apply online
  • As you will be required to submit income information, have your Singpass ready to access CPF login page
  • Complete and submit loan application
Supporting documents
  • Singaporeans and PRs
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  • Foreigners: 
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...see more

Popular Products

Summary

OCBC ExtraCash Loan

Loan Features & Details

1) Key Features

  • Interest rate ranges from 5.42% – 13.14% depending on loan tenure and annual income bracket 
  • Loan tenure from 1 to 5 years
  • Maximum loan amount depends on annual income:
    undefinedundefinedundefined
  • Instant loan approval and disbursement when you apply via MyInfo

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%
  • Late fee: S$80
  • Early partial/full repayment fee: 3.0% of the amount to be paid with 1-month interest in lieu if redemption is done immediately
  • Restructuring fee: 3.0% of the outstanding loan amount

4) Application Process

How to apply?
  • Head to OCBC’s website to apply online
  • As you will be required to submit income information, have your Singpass ready to access CPF login page
  • Complete and submit loan application
Supporting documents
  • Singaporeans and PRs
    undefinedundefinedundefined
  • Foreigners: 
    undefinedundefinedundefined
...see more

Plans (5)

Slide 1 of 5

OCBC ExtraCash Loan (1 Year Tenure)

26.39%

EFFECTIVE INTEREST RATE

12.31%

FLAT INTEREST RATE

$100

PROCESSING FEE

OCBC ExtraCash Loan (2 Year Tenure)

24.37%

EFFECTIVE INTEREST RATE

12.25%

FLAT INTEREST RATE

$100

PROCESSING FEE

OCBC ExtraCash Loan (3 Year Tenure)

23.67%

EFFECTIVE INTEREST RATE

12.50%

FLAT INTEREST RATE

$100

PROCESSING FEE

OCBC ExtraCash Loan (4 Year Tenure)

23.31%

EFFECTIVE INTEREST RATE

12.81%

FLAT INTEREST RATE

$100

PROCESSING FEE

OCBC ExtraCash Loan (5 Year Tenure)

23.10%

EFFECTIVE INTEREST RATE

13.14%

FLAT INTEREST RATE

$100

PROCESSING FEE

OCBC ExtraCash Loan (1 Year Tenure)

26.39%

EFFECTIVE INTEREST RATE

12.31%

FLAT INTEREST RATE

$100

PROCESSING FEE

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      Interest Rates for OCBC ExtraCash Loan

      Tenure (Years)

      Flat Interest Rate (p.a)

      Effective Interest Rate (p.a)

      1

      12.31

      26.39

      2

      12.25

      24.37

      3

      12.50

      23.67

      4

      12.81

      23.31

      5

      13.14

      23.10

      For borrowers who have an annual income between S$20,000 and S$29,999

      Tenure

      Flat Interest Rate (p.a)

      Effective Interest Rate (p.a)

      1

      5.54

      13.92

      2

      5.42

      12.11

      3

      5.43

      11.47

      4

      5.48

      11.15

      5

      5.54

      10.96

      For borrowers who have an annual income above S$30,000

      Features: Pros and cons of OCBC Extra Cash Loan

      • Flexible 1 to 5 years repayment scheme
      • Borrow up to 6 x your salary

      Verdict: Is OCBC Extra Cash Loan Suitable for You?

      • Suitable for when you have surpassed your credit limit and can no longer apply for lines of credit
      • Best for one-time borrowing needs. Otherwise, OCBC Extra Cash is much more costlier than other personal loan options.

      More details on ExtraCash Loan and OCBC personal loan calculator here.

      Eligibility: who can apply for OCBC ExtraCash loan?

      • 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

      Other Fees: what else to look out for?

      • Late Fees: S$80
      • Early payment Fee: 3%
      • Restructuring Fee: 3% of outstanding loan amount

      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.