Standard Chartered Credit Card Funds Transfer
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Summary
Standard Chartered Credit Card Funds Transfer Review 2024
Funds Transfer is a balance transfer type personal loan by Standard Chartered Singapore. Balance Transfers allow for the outstanding amount in one account to be transferred to another account with a lower interest rate. Standard Chartered Credit Card Funds Transfer allows you to access short-term funds from your card limit at a lower rate and is more suited for those intending to take up short-term loans that can be paid off before the interest-free period ends
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Loan Features & Details
1) Key Features
- One-time processing fee from 0.7% (EIR 2.83% p.a) for 3 months interest free loan tenure
- Interest-free periods of 3, 6, 9, and 12 months
- Minimum monthly repayment of 1.0% of outstanding loan amount
2) Eligibility
- Age: 21 to 65 years old
- Citizenship: Singaporeans, PRs, Foreigners
- Minimum annual income: S$30,000
3) Fees
- Processing fee: 0.7% to 4.5% depending on loan tenure
- Early redemption fee: S$0
- Late payment charges: S$100; late interest of 0.077% per day will be calculated on a daily basis at an EIR of 28.0% p.a
4) Application Process
How to apply?
- Head to Standard Chartered’s website to apply for the loan 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
- No documents required for existing Standard Chartered Credit Card holders (for Singaporeans, PRs, and Foreigners) unless there is a change in your annual income
- New Singaporeans and PRs customers
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Summary
Standard Chartered Credit Card Funds Transfer Review 2024
Funds Transfer is a balance transfer type personal loan by Standard Chartered Singapore. Balance Transfers allow for the outstanding amount in one account to be transferred to another account with a lower interest rate. Standard Chartered Credit Card Funds Transfer allows you to access short-term funds from your card limit at a lower rate and is more suited for those intending to take up short-term loans that can be paid off before the interest-free period ends
Product Page Transparency
- Pays to access additional features
Loan Features & Details
1) Key Features
- One-time processing fee from 0.7% (EIR 2.83% p.a) for 3 months interest free loan tenure
- Interest-free periods of 3, 6, 9, and 12 months
- Minimum monthly repayment of 1.0% of outstanding loan amount
2) Eligibility
- Age: 21 to 65 years old
- Citizenship: Singaporeans, PRs, Foreigners
- Minimum annual income: S$30,000
3) Fees
- Processing fee: 0.7% to 4.5% depending on loan tenure
- Early redemption fee: S$0
- Late payment charges: S$100; late interest of 0.077% per day will be calculated on a daily basis at an EIR of 28.0% p.a
4) Application Process
How to apply?
- Head to Standard Chartered’s website to apply for the loan 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
- No documents required for existing Standard Chartered Credit Card holders (for Singaporeans, PRs, and Foreigners) unless there is a change in your annual income
- New Singaporeans and PRs customers
undefinedundefinedundefinedundefined - New Foreigner customers
undefinedundefinedundefined
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Interest Rates for Standard Chartered Funds Transfer
Tenure | Effective Interest Rates (EIR) p.a. | Processing Fee |
|---|---|---|
3 | 2.83% | 0.7% |
6 | 3.10% | 1.5% |
9 | 3.51% | 2.5% |
12 | 4.86% | 4.5% |
Features: Pros and cons of Standard Chartered Funds Transfer
- interest free personal loan for 3 - 12 months tenure, with EIR at 2.83% - 4.86% p.a.
- 0% prevailing interest rate for the agreed tenure of 3 - 12 months
- One-time non-refundable processing fee starting from only 0.7%
- Minimum annual income required is S$30,000
- Minimum transfer amount is S$1000; maximum transfer amount is 95% of the available credit limit
- Minimum monthly payment of 1% of your principal loan amount
- Choose to transfer your funds to either a Standard Chartered or non-Standard Chartered account
- Stand to get instant loan approval from Standard Chartered when applying online
- More suited for short-term loans that can be paid off before the interest free period ends
- If your loan amount is not paid by full punctually, you will be subjected to a high prevailing interest rate of 26.9% p.a.
- High minimum income requirement for foreigners
- More details on Standard Chartered's balance transfer and their credit card balance transfer calculator here.
Eligibility: who can apply?
- 21 to 65 years old
- annual income of at least S$30,000 for Singaporeans and PR
- annual income of at least S$60,000 for foreigners, with a Singapore Employment Pass
Other Fees: what else to look out for?
- Late Fee: S$80
- Early redemption fee: S$0
- Late interest will be calculated on a daily basis at the EIR of 28% p.a. (0.077% per day)
Contact Standard Chartered Singapore
Tel: +65 6747 7000
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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