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Standard Chartered CashOne
Standard Chartered CashOne
- From 1.90% p.a.
- Interest Rate
- S$10,190
- Total Amount Payable
- S$0
- Processing Fee
[LOWEST INTEREST RATE IN THE MARKET]
Enjoy one of the lowest interest rates in the market* starting from 1.90% p.a. (EIR from 3.63% p.a.)!
Choose from up to S$1,200 Cash via PayNow or gifts such as the Apple 13-inch MacBook Air (worth S$1,499), Apple 11-inch iPad Air 128GB (worth S$899), Sony PS5 (SLIM) Digital Edition (worth S$669), Nintendo Switch OLED (worth S$549), or Apple AirPods Pro 2nd Gen (worth S$349). T&Cs apply.
Are you eligible?
Promotion is valid from 14-April-2025 to 24-April-2025
Receive your rewards when you get approved for a min. loan of S$8,000 with a tenure of 3 to 5 years. T&Cs apply.
Customers must apply through MoneySmart to be eligible
Promotion is valid for both New-To-Bank and Existing Standard Chartered Customers.
What you need to know
Log into your MoneySmart account and submit your claim by 24th May 2025
S$8,000 - S$9,999 Loan Size:
- Gift: S$120 Cash via PayNowS$10,000 - S$14,999 Loan Size:
- Gift: S$180 Cash via PayNowS$15,000 - S$19,999 Loan Size:
- Gift: S$300 Cash via PayNow OR Apple AirPods Pro 2nd Gen (worth S$349)S$20,000 - S$29,999 Loan Size:
- Gift: S$400 Cash via PayNow OR Nintendo Switch OLED (worth S$549)S$30,000 - S$49,999 Loan Size:
- Gift: S$600 Cash via PayNow OR Sony PlayStation® 5 (SLIM) Digital Edition (worth S$669)S$50,000 - S$79,999 Loan Size:
- Gift: S$800 Cash via PayNow OR Apple 11 inch iPad Air Wi-Fi, 128GB (worth S$899)S$80,000 - S$250,000 Loan Size:
- Gift: S$1,200 Cash via PayNow OR Apple 13-inch MacBook Air, M4 Chip, 256GB (worth S$1,499)FASTER GIFT FULFILMENT: Please note that gift will be fulfilled approximately 2-3 months after the end of the campaign month (30 April 2025).
*Enjoy the lowest interest rates in the market from 1.90%p.a. (EIR from 3.63% p.a.)! Accurate as of 1 March 2025. T&Cs apply.
All Details
Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.
Standard Chartered CashOne Personal Loan Benefits 2025
In this review, we’ll weigh the pros and cons of taking up a Standard Chartered CashOne personal loan, and compare it against some of its closest competitors.
Pros and Cons Of Standard Chartered CashOne
Pros ✅
- Lower interest rates as compared to other similar personal loans offered by other banks
- Fast loan approval & (almost) instant cash disbursement thereafter (depending on chosen account to disburse funds to)
- Convenient online application with SingPass for quicker application
- Lower minimum annual income requirement of $20,000 for Singaporeans and PRs as compared to other similar bank loans
- No late penalties* imposed—enjoy as low as $50 flexible monthly repayments without late charges
- No need to be an existing Standard Chartered customer to apply
- Open to Singapore Citizens, PRs and foreigners with a Singapore Employment Pass aged 21 and above
*Exclusive SCB benefit for those who pay full monthly instalment for 6 consecutive months. Minimum payment is either $50 of 1% of approved monthly principal instalment amount, whichever is greater.
Cons ❌
- Initial annual fee of $199 (deducted from your approved loan)
- Higher minimum annual income requirement of $60,000 for foreigners as compared to other similar bank loans
- Offered interest rate depends on borrower's credit profile and subject to bank's approval
Check Out Our SCB CashOne Personal Loan Review Here!
Eligibility Requirements for SCB CashOne Personal Loan
| Citizenship status | Singaporeans and PRs, foreigners |
| Minimum age | 21 years and above |
| Employment status | Employed, self-employed |
| Minimum annual income | $20,000 for Singaporeans and PRs $60,000 for foreigners |
| SingPass compatible? | Yes ✅ |
The minimum annual income requirements are $20,000 for Singaporeans and PRs and $60,000 for foreigners as per Standard Chartered CashOne’s application eligibility requirements. This makes Standard Chartered CashOne personal loan a great option for Singaporeans and PRs with lower annual salaries, especially those earning less than $30,000 per year.
| Salaried employees / Partial commission-based earners | 100% commission-based earners | Self-employed |
|---|---|---|
| Copy of NRIC (front & back) | ||
| Latest computerised payslip or latest 6 months’ CPF Contribution History Statement | Latest Income Tax Notice of Assessment (NOA) or latest 3 months’ Commission Statement from same employer | Latest Income Tax Notice of Assessment (NOA) |
As for new customers or existing customers who are SingPass holders applying with MyInfo, you’ll be required to submit a copy of your NRIC (front and back), your latest computerised payslip or latest 6 months’ CPF Contribution History Statement for the Standard Chartered CashOne personal loan application.
If you’d like to apply for a higher loan amount, you’ve got to prepare your latest Income Tax Notice of Assessment (NOA) in addition to the above required documents.
Standard Chartered CashOne Personal Loan Interest Rates & Fees
How exactly does SCB CashOne Personal Loan compare against other bank loan options like CIMB Personal Loan and UOB Personal Loan? These 2 are also popular personal loan options offering competitive interest rates and monthly instalment repayments.
Key factors that we’ll look at are interest rates, minimum annual income, monthly instalments & total amount repayable, and more.
Comparison: SCB CashOne Personal Loan vs CIMB Personal Loan vs UOB Personal Loan
| Loan Provider | SCB CashOne | UOB Personal Loan | CIMB Personal Loan |
|---|---|---|---|
| Interest rate | From 1.90% p.a. | From 2.88% p.a. | From 2.68% p.a. |
| Effective Interest Rate (EIR) | From 3.63% p.a. | From 5.43% p.a. | From 5.06% p.a. |
| Annual fee | $199 for Year 1 (None from Year 2 onwards) | None | None |
| Total interest payable | $190 | $288 | $400 |
| Total amount payable | $10,190 | $10,288 | $10,400 |
| Principal loan amount | $10,000 | $10,000 | $10,000 |
| Monthly payment* | $849 | $857 | $867 |
| Minimum annual income | $20,000 | $30,000 | $20,000 |
| Maximum loan tenure | 5 years | 5 years | 5 years |
| Loan disbursement speed |
Instant approval with select SCB bank accounts Otherwise for non-SCB bank accounts, receive funds within 15 minutes upon loan approval. Receive 1 day later: if approved loan amount > $200,000 and approved before 2pm Receive 2 days later: if loan approved after 2pm |
Instant approval (if applied online during business hours from 8am – 9pm) |
Instant approval and cash disbursement to PayNow-linked bank account once qualified Minimum loan amount starts from $2,000. |
| Processing fee | $0 | $0 | 1% for loan amount below $5,000 |
| Cancellation fee | $150 or 3% of the outstanding principal balance, whichever is higher | $150 or 3% of the outstanding principal balance, whichever is higher | 1% of undisbursed loan amount |
| Late payment fee |
$100 Additional interest calculated daily at EIR 29.9% p.a. (0.082% per day) |
$100 | $100 |
*Assuming $10,000 borrowed loan amount over a 1-year tenure
Based on this table, the SCB CashOne Personal Loan currently stands out with the lowest interest rate of 1.90% p.a. It also offers the lowest total amount payable and the most accessible minimum annual income requirement. These factors significantly lower the barriers to entry for prospective borrowers and improve their chances of qualifying for the loan.
Additionally, having any of the following Standard Chartered bank accounts increases your likelihood of instant approval and enables faster funds disbursement to your account.
How to Apply for Standard Chartered CashOne Personal Loan?
Before you start applying for Standard Chartered CashOne or any other personal loans, you’ve got to be clear of the reason why you need to take up a personal loan, a manageable loan amount that you can afford to pay off in monthly instalments, the other costs involved such as Effective Interest Rate (EIR), processing fees, annual fees, vice versa.
Here are 3 simple steps to apply for Standard Chartered CashOne
Apply via MoneySmart’s SCB Cashone Personal Loan page
You may begin your application clicking on the SCB CashOne Apply Now button.
If you choose to apply online via SingPass MyInfo, Standard Chartered Bank will pull your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.
Provide all documentation required
The required documents for SCB CashOne personal loan are:
For salaried employees:
For 100% commission-based earners:
For self-employed:
For full transparency, please refer to SCB’s official website.
Select your monthly repayment plan
Decide on your required amount before picking the suitable plan and also pick your preferred SCB or non-SCB savings account to receive your funds, or provide the details of your other bank accounts.
Review and confirm details
After completing the application form and providing required documents, you will likely be directed to a review and confirm page.
Carefully review all the information you have entered throughout the application process. This includes:
Receive your cash disbursement quickly
The cash loan amount should be disbursed to your designated savings account upon successful approval.
Frequently Asked Questions About SCB CashOne Personal Loan
Are there any fees if I take up the SCB CashOne Personal Loan?
- Standard Chartered Bank charges an initial annual fee of $199 (deducted from your approved loan). You will not need to pay any more processing fees after the first year unless you miss any payments for your instalments where $50 will be charged annually on or before the due dates for the preceding 12 consecutive calendar months.
There’s also an early redemption fee of $150 or 3% of the outstanding principal (whichever is higher). How do I apply for a SCB CashOne Personal Loan?
You can apply for Standard Chartered CashOne in 3 simple steps.
1. Click "Apply Now" on the Standard Chartered Bank CashOne option on MoneySmart's Personal Loans page
2. Provide your NRIC or other identification details, latest computerised payslip, latest 6 months; CPF Contribution History Statement, and latest Income Tax Notice of Assessment (NOA) if you wish to be considered for a higher loan amount
3. Receive your cash disbursement instantly (upon the loan approval)
Am I eligible for SCB CashOne Personal Loan?
- If you’re a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid Singapore Employment Pass, you’re eligible to apply for the Standard Chartered CashOne personal loan, as long as you’re aged 21 and above, and earn a minimum annual income of $20,000 (for Singaporeans and PRs) or $60,000 (for foreigners).
If I’m late for my monthly instalment, how much do I have to pay?
- Late payment charge is S$100 and additional interest will be calculated on a daily basis at the EIR of 29.9% p.a. (0.082% per day).
When will I receive the approved loan amount in my bank account?
- You will receive your funds instantly upon loan approval if using an existing SCB current or cheque & save account, regardless of loan amount.
For non-SCB current or savings accounts, you will receive your funds in 15 minutes upon successful approval.
Do note however, if your loan amount > $200,000 and approved before 2pm, your funds will be disbursed on the next working day. Or if approved after 2pm, funds will be disbursed 2 working days later. I am an existing SCB cardholder, will taking the SCB CashOne affect the credit limit of my card?
- Yes, you will actually be applying for a Credit Card Instalment Loan which draws from your existing credit card limit.
For instance, if your existing credit card limit is $2,000 and you’ve recently spent $5,000 on it, this leaves you with a remaining balance of $15,000. Simultaneously, if you take up a credit card instalment loan of $10,000, this amount will be deducted from your remaining $15,000, leaving a balance of $5,000 to spend with your credit card. Are there any charges if I would like to change my SCB CashOne loan tenure?
- Yes, there is a fee of $50 per change, subject to Standard Chartered Bank’s approval.