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Full flex masthead
  1. Promotions
  2. Full Flex Loan

Full Flex Loan

Credit Card Funds Transfer with no fees1

Benefits1    
  • 0%

    Processing Fee

  • No

    Instalments.

    Only Min. Due

  • S$0

    Early Redemption Fee

1Terms and Conditions apply.

Comparison Table2

Use the table below to see which tenure best suits you
  •  
    Tenure
    Effective Interest Rate
    Early Redemption Fee
    Promotional Interest Rate

Tenure: Loan period during which the minimum monthly repayment must be paid each month (see FAQ 8).

Processing Fee Rate: No processing fee will be charged to the Full Flex Loan account.

Processing Fee Amount: $0 for all Full Flex Loan.

Interest Rate: Promotional interest that applies for the duration of the approved tenure only (see FAQ 4). Balance Transfer Terms and Conditions apply.

Application Eligibility

  • Age: 21 years and above
  • Minimum annual income: S$30,000

Note: Supplementary credit cardholders and cardholders holding corporate credit cards or credit cards with S$500 credit limit are not eligible to apply for a Credit Card Funds Transfer.

For Existing Standard Chartered Credit Cardholders

No documents are required.

However, if there has been a recent change to 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 SingPass holders applying with MyInfo

myinfo-logo

No documents are required

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

Note: Supplementary credit cardholders and cardholders holding corporate credit cards or credit cards with S$500 credit limit are not eligible to apply for a Credit Card Funds Transfer.

For Existing Standard Chartered Credit Cardholders

No documents are required.

However, if there has been a recent change to 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 SingPass holders applying with MyInfo

myinfo-logo

No documents are required

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)

Early redemption fee
S$0
Late payment fee
S$80

Late interest will be calculated on a daily basis at the EIR of 28% p.a. (0.077% per day)

Consolidating your loans is a good way to help you with your existing financial circumstances, as you get to avoid high interest rates.

For example

If you decide to take a Full Flex Loan of S$10,000 over a period of 6 months, you will incur an interest of 0.0132% per day, or 4.8% p.a. with Standard Chartered Bank (Singapore) Limited (the “Bank”), as compared to a S$1,200 charge over a 6-month period following other banks’ credit card rates (assuming it is 25% p.a. interest rate on other banks’ credit cards).

Full Flex Loan (also known as a balance transfer) is a credit facility offered by the Bank, which utilises your available credit limit for existing credit cardholders; alternatively, if you are a new customer, we will provide you with an Unlimited Cashback Credit Card and the Full Flex Loan facility will utilise the limit assigned to this new credit card on approval. This allows you to access short-term funds from your card limit at a lower rate, helping you manage your finances and giving you peace of mind.

Find out more about our available loan tenures and choose a plan that suits your needs best:

Length of Tenure

To cater to various financial needs, we offer 3 different loan tenures at different interest rates:

  • 6 months
  • 12 months
  • 18 months

The minimum amount that can be transferred is S$1,000, while the maximum is 95% of the total available credit limit of the Standard Chartered Credit Card account that you’ve indicated in the application form or that has been assigned to you on approval of your new credit card.

The Effective Interest Rate in the calculator above reflects the true cost of borrowing and is calculated based on the declining principal balance over the tenure of the loan, hence it is higher than flat interest rate. The Effective Interest Rate takes into account the processing fee and monthly minimum payments of 1% of principal, plus interest, fees and charges and full payment in the final month of the promotional period.

Yes, under certain circumstances. Please refer to the Late Payment FAQ 9 for details of what happens if you are late with a payment for any Standard Chartered Credit Card, Full Flex Loan or Personal Loan.

In addition, if the total Full Flex Loan amount plus any applicable fees, charges or interest is not repaid in full by the expiry of the approved tenure, then the interest rate for your Full Flex Loan will be the prevailing rate of 26.9% p.a. and cannot be adjusted.

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 Full Flex Loan application accordingly.

Yes. If you are an existing principal Standard Chartered Credit Cardholder, by submitting an application for a Full Flex Loan, the Full Flex Loan 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 for the Full Flex 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 Full Flex Loan of S$10,000. The funds 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 Full Flex Loan, you will now have S$5,500 available to spend on retail transactions using your credit card.

Your application will be reviewed upon submission.

If you choose to have your funds disbursed to an existing Standard Chartered Current/Cheque/Savings Account:

You will receive your funds instantly upon approval of your application (Application has to be done via sc.com/sg/borrow/loans/balance-transfer/ and the Full Flex Loan Disbursement Terms and Conditions) apply.

For example
You submitted an application for a Full Flex 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.

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

(i) Disbursement amount of S$200,000 or less

You will receive your funds within 15 minutes upon approval of your application (Full Flex Loan Disbursement Terms and Conditions apply). If the Bank needs to contact you for additional information/confirmation to complete the application 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.

For example
You submitted an application for a Full Flex 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.

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

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

For example
You submitted an application for a Full Flex Loan of S$210,000 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, it will be subject to our Next Day Cash Terms & Conditions and the cash will only be disbursed on Wednesday.

The minimum monthly repayment is 1% of the total remaining principal or $50 (whichever is greater), plus interest, fees and charges as reflected on your Credit Card statement.

There will be a flat late payment fee of S$80 with potential for additional charges. Late interest of 28% per annum will be applied if the minimum monthly repayment due is not received in full by the next Statement Date on any of your Credit Card and Full Flex Loan accounts.

While within the approved tenure, the interest rate will be reinstated to 0% once the minimum payment due is made in full. Should full repayment be delayed beyond the expiry of the tenure, the EIR will be reinstated to the prevailing EIR of 26.9% once the minimum payment due is made in full.

If you make a late payment for any other Standard Chartered Credit Card or Personal Loan then the EIR for your Full Flex Loan will be adjusted to 26.9% until all accounts are back in order.

If you decide to pay off the full outstanding balance of your Full Flex Loan before the agreed tenure is completed, there is no early redemption fee charged.

There is no annual fee on your Full Flex Loan account; however, you will be charged a one-time, non-refundable processing fee on your approved amount and this is dependent on your chosen loan tenure. This will be added to the approved amount upon approval of your application.

There is no option to change the repayment tenure once your Full Flex Loan has been approved.

For your convenience, Full Flex Loan 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.

Yes, you can apply for a Full Flex Loan. Please note that all applications will be subject to the Bank’s approval.

You can choose to transfer the approved loan amount to any local bank accounts registered solely under your name.

We suggest that you open a Standard Chartered Current/Cheque/Savings Account. In this way, you will receive your funds instantly (see above FAQ 7. terms and conditions) upon approval of your loan.

No, Full Flex Loan do not earn rewards or cashback.

No. Cash received from your Full Flex Loan may not be used to pay off existing loans or outstanding Credit Card payments issued by the Bank, i.e. Standard Chartered Credit Card, Personal Credit, Home Renovation Loan, Personal Loan, Overdraft and Mortgage accounts.

For new customers:

This is dependent on our lending criteria, which includes factors such as your credit rating and income levels, which will first have to be assessed by the Bank.

For existing customers:

This is dependent on whether you recently utilised 95% or more of your available credit limit.

For example
You have a credit limit of S$10,000. Because you can only use 95% of your available credit limit for your Full Flex Loan, this leaves you with a total of S$9,500 that can be borrowed.

You apply for a Full Flex Loan for an amount of S$9,500. However, between the time of application for the Full Flex Loan and its approval, you spend S$2,000. Given that you have applied for the maximum of your eligible loan amount, any spend during this period will be deducted from it. This then leaves you with a final Full Flex Loan amount of S$7,500.

Standard Chartered Bank (Singapore) Limited (“Standard Chartered” or the “Bank”)’s Credit Card Funds Transfer Disbursement Terms and Conditions is applicable if an applicant makes an application for a Credit Card Funds Transfer (“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 or non-Standard Chartered Credit Card Account (each account a “Designated Account” and each such transfer of funds a “Funds 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 Funds 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 Funds Disbursement within the time periods(as stated in clauses 3 to 5 of the full Credit Card Funds Transfer 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.
For details, please click here *Important information about Full Flex Loan The Effective Interest Rates are only valid for a Credit Card Funds Transfer with a 6, 12 or 18 months tenure and is only applicable to the amount transferred pursuant to the application submitted in respect of this promotion. The prevailing interest rate of 26.9% p.a. applies after the expiration of the tenure indicated in the application form. Credit Card Funds Transfer Programme Terms and Conditions apply.
For details, please click here . These terms apply in addition to our Customer Terms and Credit Card Terms (collectively, “Other Terms”). In the event of any inconsistency between the terms set out herein (“Terms”) and the Other Terms, these Terms shall prevail only to the extent of such inconsistency. Instant approval and instant loan disbursement are subject to the availability of external services and systems including MyInfo and Credit Bureau Singapore.
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