Things You Should Know on Borrowing:
Minimum Period for Repayment | From 2 Months |
Maximum Period for Repayment | Up to 12 Months |
Minimum Annual Percentage Rate | From 1.8% per annum |
Maximum Annual Percentage Rate | Up to 48% per annum on reducing interest rate |
Sample Representation of Loan with Maximum Rates:
Total Amount Borrowed | SGD 10,000 |
Time Period * | 12 Months |
Interest Rate ** | 4% Per Month |
Annual Percentage Rate of Charge (APR) ** | 48% APR or 4% NIR |
Total Cost Payable *** | SGD 2,786.26 |
* Time period is from minimum period of 2 months to maximum period of 12 months.
** Interest Rate may varies to maximum of 4% per Month , depending on loan amount and period of repayment.
*** Total Cost Payable exclude Administrative fee. Other fee such as late fee and late interest rate may be charge in event of violation on terms & condition.