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Standard Chartered Credit Card Funds Transfer

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Summary

Standard Chartered Credit Card Funds Transfer

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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  • New Foreigner customers
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...see more

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Summary

Standard Chartered Credit Card Funds Transfer

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
...see more

Plans (4)

Slide 1 of 4

Standard Chartered Credit Card Funds Transfer (3 Month Tenure)

28%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

0.7%

PROCESSING FEE

Standard Chartered Credit Card Funds Transfer (6 Month Tenure)

28%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

1.5%

PROCESSING FEE

Standard Chartered Credit Card Funds Transfer (9 Month Tenure)

28%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

2.5%

PROCESSING FEE

Standard Chartered Credit Card Funds Transfer (12 Month Tenure)

28%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

4.5%

PROCESSING FEE

Standard Chartered Credit Card Funds Transfer (3 Month Tenure)

28%

EFFECTIVE INTEREST RATE

0%

FLAT INTEREST RATE

0.7%

PROCESSING FEE

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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.