If you’re thinking of taking out a personal loan to go on holiday, please close that browser window and slowly step away from the computer. Personal loans are not meant to be a quick-fix for your cashflow issues and should never be used to pay for anything that isn’t an emergency or necessity. However, if you are facing something that.
March 01, 2021
The Straits Times file
CIMB, OCBC and HSBC offer the lowest interest personal loans in Singapore. Find out more about these loans which you can find on SingSaver.
Whether it’s due to an emergency or simple cash flow management, most of us will need a personal loan at some point.
Personal loans do get a bad reputation sometimes, but if you understand how to manage cash flow and know how to take advantage of promotional interest rates, they can be used to your advantage.
The most important factor when deciding on a personal loan is the interest rate for the personal loan. The lower the interest rate, the better.
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1. Standard Chartered CashOne Personal Loan: Low interest rates, and cashback
With a flat interest rate of 3.48 per cent p.a. (EIR of 7.99 per cent p.a.) offered on SingSaver, the Standard Chartered CashOne Personal Loan is one of the best options in the market.
You will also receive 50 per cent off your first month’s instalment amount in the form of a cashback and get another $20 cashback when you apply via MyInfo.
There are no processing fees for this loan but Standard Chartered charges an annual fee of $199. In addition, you can also get instant approval and loan disbursement – no more waiting 3 - 5 working days to receive your cash!