|
Principal Loan Amount | $30,000 |
Loan Tenure | 3 years |
Interest Rate (p.a) | 5.67% |
Monthly Instalments | $975 |
Total Amount Payable | $35,103 |
Total Interest Payable | $5,103 |
Citizenship Status | Singaporean / PR |
Age Requirement | 21 years old and above |
Employment Status | Salaried Employee |
Minimum Annual Income | $30,000 |
Processing Fee | Nil |
Restructuring Fee | N/A |
Late Payment Fee | Rate/amount specified in your Approval Letter will apply until payment in full is received by the bank |
Partial Repayment Penalty | No partial prepayment allowed |
MoneySmart lists Debt Consolidation Plan products that range between a minimum of 1 to a maximum of 10 years. The effective interest rate (EIR) of loan products on our site range from 7.70% p.a. to up to 11.08% p.a. The EIR of your loan will be dependent on the loan you apply for as well as your personal financial needs.
For example, you would need to pay S$311/month for a S$10,000 Debt Consolidation Plan with a loan tenure of 3 years at 3.98%pa Interest Rate (7.70% EIR). This would equate to a total payment of S$11,393 over 3 years. Please view each Debt Consolidation Plan product in detail for a full breakdown of the interest rate chargeable, minimum and maximum loan tenure as well as processing fees (if applicable).
