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Woman excited about her CashOne personal loan approval
  1. Employee Banking
  2. CashOne Personal Loan

Realise your plans faster with CashOne

CashOne Personal Loan – Interest Rate as low as 3.88% p.a. (EIR 7.67% p.a.)
  • Up to 4x

    your monthly income (up to a maximum of $250,000)2

  • Up to 60 months

    of loan tenor

  • Annual fee Waiver

    from 2nd year onwards till expiry of instalment tenor3

Application Eligibility

  • Age: 21 – 65 years
  • Minimum annual income: S$20,000

For Existing Standard Chartered Credit Cardholders

No documents are required.

However, if there has been a recent change in your income, please submit your updated documents for review during the application process.

For New Customers or Existing Customers with Change(s) in Income/Employment

For Salaried Employees/Partial Commission-based Earners
  • Copy of NRIC (front and back)
  • (i) Latest computerised payslip OR
    (ii) Latest 6 months’ CPF Contribution History Statement

    To be considered for a higher loan amount, please submit your latest Income Tax Notice of Assessment (NOA) in addition to the above.

For 100% Commission-based Earners
  • Copy of NRIC (front and back)
  • (i) Latest Income Tax Notice of Assessment (NOA) OR
    (ii) Latest 3 months of Commission Statement from same employer
For Self-employed
  • Copy of NRIC (front and back)
  • Latest Income Tax Notice of Assessment (NOA)

Application Eligibility

  • Age: 21 – 65 years
  • Minimum annual income: S$60,000
  • Must hold a Singapore Employment Pass

For Existing Standard Chartered Credit Cardholders

No documents are required.

However, if there has been a recent change in your income, please submit your updated documents for review during the application process.

For New Customers or Existing Customers with Change(s) in Income/Employment

Please prepare the following:
  • Copy of Passport (with at least 6 months’ validity)
  • Copy of your Employment Pass
  • Any ONE of the following documents:
    (i) Latest utility bill, rates or tax bill
    (ii) Latest bank / credit card statement (e-Statements are accepted)
    (iii) Rental agreement showing your address
    (iv) Latest mobile phone statement or pay-TV statement
    (v) Letter from employer stating current address
    (vi) Government-issued document stating current address (e.g. IRAS, CPF, ICA)
Additional Documents:
For Salaried Employees/Partial Commission-based Earners
  • Latest computerised payslip

    To be considered for a higher loan amount, please submit your latest Income Tax Notice of Assessment (NOA) in addition to the above.

For 100% Commission-based Earners
  • (i) Latest Income Tax Notice of Assessment (NOA) OR
    (ii) Latest 3 months of Commission Statement from same employer
For Self-employed
  • Latest Income Tax Notice of Assessment (NOA)

Annual fee
First year
S$199 S$0

S$199 is deducted from the approved loan amount and refunded to your credit card or approved loan account within 50 working days from the approval date (CashOne Personal Loan Cashback Promotion Terms and Conditions apply)

From second year
S$0

until the expiry of the instalment tenure, S$50 will be charged annually if any instalments are not paid on or before the due dates in full for the preceding 12 consecutive calendar months

Other fees
Early redemption fee
S$150

or 3% of the outstanding principal (whichever is higher)

Change of tenure
S$50

per change, subject to the Bank’s approval

Late payment fee
S$80

additional interest will be calculated on a daily basis at the EIR of 26.9% p.a. (0.074% per day)

Default interest
EIR +4%p.a.

if 2 full repayments are late within 6 consecutive months, then default interest will apply (see FAQ 7)

If you already have a credit card with us, you need not submit any documents. However, if you have recently experienced a change in income, you will need to submit your latest income documents during the application, so that we can review your credit limit and your CashOne Personal Loan application accordingly.

Yes. If you are an existing principal Standard Chartered Credit Cardholder, by submitting an application for a CashOne Personal Loan, you will actually be applying for a Credit Card Instalment Loan, which will draw down from your existing credit card limit. Your available credit limit on your credit card which can be used for retail transactions will increase as and when you make repayments on the Credit Card Instalment Loan.

For example
You have an existing credit card limit of S$20,000 and have recently spent S$5,000 on it, leaving you with a balance of S$15,000 on your credit card limit. At the same time, you decide you need to take a Credit Card Instalment Loan of S$10,000. This loan amount will be deducted from the remaining S$15,000, giving you a balance of S$5,000 to spend with your credit card.

If you then make a monthly repayment of S$500 on your Credit Card Instalment Loan, you will now have S$5,500 available to spend on retail transactions using your credit card.

If you hold any of our Credit Cards with a credit limit of S$500 and your annual income ranges from S$20,000 to S$29,999, your credit card account will be closed upon approval of the Credit Card Instalment Loan.

Interest is calculated based on the ‘front-end add-on’ method by multiplying the principal loan amount by the approved applied interest rate for the full tenure of the plan. The interest charged per month is not spread equally throughout the tenure.

While the monthly instalment is constant throughout the loan tenure, the monthly interest and principal is apportioned differently: the interest component is highest in the first month and decreases gradually throughout the loan tenure.

To be eligible for the CashOne Personal Loan Cashback promotion, you will have to meet the following requirements (CashOne Personal Loan Cashback Promotion Terms and Conditions apply):

  • Submit an application from now till 30 September 2021, which must be approved
  • An applied interest rate of 3.88% p.a. and above (EIR from 7.67% p.a.)
  • An approved loan amount of S$15,000 and above
  • Loan tenure of 4 or 5 years

To be eligible for the one-time credit of S$199 to offset the first-year annual fee, you will have to meet the following requirements:

  • An applied interest rate of 3.88% p.a. and above (EIR from 7.67% p.a.)
  • An approved loan amount of S$1,000 and above

The cashback will be credited to your credit card or loan account within 50 working days from approval.

Your application will be reviewed upon submission.

If you choose to have your approved loan amount disbursed to an existing Standard Chartered Current/Cheque & Save Account:

You will receive your funds instantly* upon approval of your loan.

For example
You submitted an application for a loan of S$250,000 to be disbursed to your Standard Chartered savings account. Regardless of time and day, if your application is complete and is approved instantly, you will have cash disbursed to the account immediately.

However, if the Bank requires more information from you, your application may take up to one working day from submission to be assessed.

[*Application has to be done via sc.com/sg/cashone and the CashOne Disbursement Terms and Conditions apply]

If you choose to have your approved loan amount disbursed to a non-Standard Chartered Current or Savings Account:

(i) Loan amount of S$200,000 and less

You will receive your funds within 15 minutes^ upon approval of your loan.

For example
You submitted an application for a loan of S$20,000 to be deposited into a Fast And Secure Transfers (“FAST” ) participating bank. As long as your application is complete and is approved instantly, you will receive your funds within 15 minutes.

[^CashOne Disbursement Terms and Conditions apply. If the Bank needs to contact you for additional information/confirmation to complete the application and/or your non-Standard Chartered account of choice is a non-FAST participating bank, cash will be disbursed the next working day instead and will be subject to the Next Day Cash Terms & Conditions.]

(ii) Loan amount of more than S$200,000

You will receive your funds on the next working day, upon approval of your loan.

For example
You submitted an application for a loan of S$200,001 to be deposited into a non-FAST, non-Standard Chartered Current or Savings Account. This submission occurred on Tuesday, 1pm. If your application is complete and is approved instantly, the cash will be disbursed by Wednesday.

However, if the submission took place after 2pm on Tuesday, it will be subject to our Next Day Cash Terms & Conditions, and the cash will only be disbursed on Thursday.

For other scenarios, please refer to the CashOne Personal Loan / Credit Card Instalment Loan Disbursement Terms and Conditions.

There will be a flat late payment fee of S$80 with potential for additional charges, depending on how late the payment is made.

For example
You are late on your full monthly payment of S$500 by a total of 7 days. You will have to pay additional interest on the full outstanding balance for those 7 days, calculated on a daily basis at the minimum EIR of 26.9% per annum (0.074% per day), on top of the flat S$80 fee.

We understand that with a busy lifestyle, it can be easy to forget a payment or two. But in the event of multiple late payments, you will be subject to additional charges.

For example
You were late in making your full monthly repayment of S$1,000 in February and May this year. Because you did not make full repayment of your instalment amount twice within a span of 6 consecutive months, on top of the individual months’ late payment fees and any additional daily interest, a further 4% p.a. will be added to your EIR effective from the next statement date immediately after the second instalment payment due date is missed.

To keep your monthly repayment amounts consistent, your loan tenure will be extended in view of the new EIR. This 4% p.a. of default interest will be removed from your EIR as soon as you make full instalment repayments by the instalment payment due date for 6 consecutive months.

If you decide to pay off your loan early, bear in mind that there will be an early redemption fee of S$150 or 3% of your outstanding principal, whichever is higher.

For example
You borrowed S$20,000 and after a few years you are left with an outstanding balance of S$6,000. If you choose to pay off this S$6,000 before your loan tenure is up, you will have to pay an additional S$180, as the 3% fee is greater.

You may have looked at our rates and noticed that there is a significant difference between the AR and the EIR.

The Applied Rate is used as a reference to calculate the total interest charged on your loan over the full tenure, by assuming that the loan principal is constant throughout the loan tenure.

The Effective Interest Rate reflects the true cost of borrowing and is calculated by taking into account the declining principal balance over the tenure of the loan; hence, it is higher than the flat interest rate. The Interest Repayment component of the monthly instalment is higher in the beginning of the loan tenure than towards the end. Additionally, the EIR shown takes into account the first-year annual fee of S$199.

Yes. For CashOne Personal Loan applications made from now till 31 December 2020 via sc.com/sg/cashone, while there is an annual fee waiver, you will be charged an initial first-year annual fee of S$199. This amount will be taken from your approved loan amount, and will be returned to your credit card or approved Cashone Personal Loan account after 50 working days (CashOne Cashback Promotion Terms and Conditions apply).

For example
You borrowed S$10,000. The initial amount that will be credited to your account will be S$9,801. After 50 working days, the remaining S$199 will be returned to your credit card or CashOne Personal Loan account.

From the second year onwards, until the expiry of the instalment tenure, S$50 will be charged annually if instalments are not paid on time on or before the due dates in full for the preceding 12 consecutive calendar months.

Depending on your existing financial circumstances, changes to an instalment tenure can sometimes be unexpected but necessary.

For example
You decide that it would be in your best interest to extend your instalment tenure from 2 years to 5 years. A S$50 charge will be imposed every time you change the tenure and each change will be subject to the Bank’s approval.

For your convenience, CashOne Personal Loans are repayable through a range of channels, including:

  • Standard Chartered Bank (Singapore) Limited Online Banking
  • SC Mobile app
  • AXS and ATM machines islandwide
  • All Standard Chartered Bank (Singapore) Limited branches
  • GIRO (for automatic monthly repayments)

Please click here to download the GIRO application, or call 1800 747 7000.

The interest rate shown to you in your online application is based on your credit profile as determined by us.

Hence, the interest rate shown to you in your online application may differ from the illustrative interest rate shown in the calculator above and the interest rate shown to other borrowers.

Standard Chartered Bank (Singapore) Limited (“Standard Chartered” or the “Bank”)’s CashOne Personal Loan / Credit Card Instalment Loan Disbursement Terms and Conditions is applicable if an applicant makes an application for a CashOne Personal Loan (“CashOne”) or a Credit Card Instalment Loan (“Application”), successfully submits a completed Application to the Bank and the Bank approves such an Application. The transfer of funds to the applicant’s designated Standard Chartered Current/Cheque & Save Account(s) or non-Standard Chartered Current or Savings Account (each account a “Designated Account”) (“Loan Disbursement”) is subject to (a) the applicant successfully submitting a completed Application to the Bank; and (b) the Bank approving the Application which must satisfy the Bank’s eligibility criteria, including our credit and risk management policies, as well as prevailing laws and regulations. The Bank reserves the right to reject any Application which does not fulfil our criteria at our discretion. If the Bank is unable to process the Application or the Loan Disbursement due to system failure, system outage, malfunction, delay or any other circumstances whatsoever, whether within our reasonable control or otherwise, the Bank is not able to provide Loan Disbursement within the time periods(as stated in clauses 3 to 5 of the CashOne Personal Loan / Credit Card Instalment Loan Disbursement terms and conditions), and the Bank disclaims all liability arising for any such delay including any loss, damage or inconvenience caused to/incurred by you the applicant, or any third party arising from or in connection therewith. Click here for full terms and conditions which apply.
Standard Chartered Bank (Singapore) Limited (the “Bank”)’s Next Day Cash is a service whereby if an applicant successfully submits a completed application to the Bank for a personal loan by 2pm (Monday-Friday, excluding Public Holiday), and the Bank approves such an application, the Bank will disburse the funds on the next working/banking day (Monday-Friday, excluding Public Holiday). In the event that the bank needs to contact you for additional information/confirmation to complete the application, standard processing turnaround time will apply. If the Bank is unable to process your application due to system failure, system outage, malfunction, delay or any other circumstances whatsoever, whether within our reasonable control or otherwise, the Bank may not be able to provide the Next Day Cash service and the Bank disclaims all liability arising for any such delay including any loss, damage or inconvenience caused to/incurred by you the applicant, or any third party arising from or in connection therewith. Click here for full terms and conditions.
Our decision in all matters arising out of or in connection with this Promotion is final and conclusive and no correspondence will be entertained. Our Customer Terms, Personal Loan/Personal Line of Credit/Overdraft Terms and CashOne Product Terms apply. All information is correct at the time of publishing. Click here for full Terms and Conditions
For details, please click here.
The CashOne Personal Loan Cashback Non-Online Promotion (the “Promotion”) is available from now till 30 September 2021. Click here for full terms and conditions.
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CashOne MGM Promotion

Receive up to S$500 cashback for every successful referral

Terms and Conditions apply
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