OCBC ExtraCash Loan

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Key Features

5.54%
Interest Rate*
Loan Approval Time
Instant approval (if you have a OCBC credit card/EasiCredit and apply via MyInfo)
^S$100
Processing Fee

Other Features

You can choose a loan tenure between 12 and 60 months.
The loan amount you can borrow is based on your annual income, with up to 6 times your monthly salary for annual income S$120,000 and above, 4 times your monthly salary for annual income S$30,000-S$119,999, and 2 times your monthly salary for annual income S$20,000-S$29,000.
Repayments can be made easily through online or mobile banking funds transfer, cheque deposit, or cash deposit machine.
You can manage your account conveniently with online and mobile banking.
Please note that the rates you receive may differ from the ones displayed here, as they are customised for you. OCBC Bank is regulated by the Monetary Authority of Singapore.

Eligibility

Citizenship Status

Singaporean/PR

Age Requirement

21 years old and above

Employment Status

Salaried Employee, Variable/Commission-based Employees or Self Employed

Minimum Annual Income

S$30,000

Fees and Charges

Processing Fee: 1%
Restructuring Fee: 3% of outstanding loan amount
Late Payment Fee: S$80
Partial Repayment Penalty: 3% of amount to be repaid (S$1,000 minimum repayment)
Full Repayment Penalty: 3% of amount to be repaid (S$1,000 minimum repayment)

Review

By LOANPANDA

OCBC ExtraCash Loan offers a convenient and flexible loan option with competitive interest rates from 5.54% p.a. and loan amounts based on your annual income. Enjoy instant approval with OCBC credit card/EasiCredit and MyInfo application.

Manage your account easily through online and mobile banking. Note that rates provided are customised and may differ from what’s displayed here. OCBC Bank is regulated by the Monetary Authority of Singapore.

FAQ

A credit card is a convenient tool for people to pay for purchases today, offering many perks and rewards that can add up to more savings for the cardholders.

While there are so many types of credit cards offering different features, you may wonder: How best to choose one that suits you?

Here’s a short guide LOANPANDA has compiled to help you understand the credit card requirements, interest rates and basic payment terms.