Disclaimer

If you are an existing Standard Chartered Personal Credit customer, your line of credit may be converted to CashOne.

If you are an existing Standard Chartered Credit Cardholder, the credit limit on your existing credit card is treated as a loan. As such, you will only be able to use the available credit limit on your credit card for retail transactions as and when you have repaid the CashOne.

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

The applicable interest rate for CashOne/Credit Card Instalment Loan for staff is as follows:

1. Loan tenor	AR (% p.a.)	AR (% p.a.)
   1-year	3.88	7.09
   2-year	3.88	7.28
   3-year	2.88	5.46
   4-year	2.88	5.45
   5-year	2.88	5.43

   AR: Applied / flat interest rate

   EIR: Effective interest rate

Interest is calculated based on the ‘front-end add-on’ method by multiplying the principal loan amount with the specified annual Applied Interest Rate / Flat Interest Rate for the full tenor of the plan. The interest charged per month is not spread equally throughout the tenor. But the total interest chargeable is based on the above calculation.

For illustration only:

Below is an illustration of a loan amortisation schedule based on an approved loan of $20,000 over a 3-year tenor. Note that monthly instalment is constant throughout the loan tenor.

Monthly interest and principal is apportioned differently; amount of instalment apportioned to interest is highest in the first month and decreases gradually throughout the loan tenor.

The above table is for illustrative purpose only (figures above have been rounded off to whole numbers) and is based on a loan of $20,000 with a tenor of 3 years (36 months).

Please follow the payment due date stated on your monthly statement

CashOne offers a range of repayment channels:

• Repayment can be made via AXS, GIRO, ATM or branch counter.
• Please ensure separate repayments are made out to the following accounts:
  • CashOne Personal Loan Account (9702 2228 XXXX XXXX)
  • CashOne Platinum Credit Card Account (4300 9201 XXXX XXXX)
• Please click here to download the GIRO application form or call 1800 747 7000.

If we do not receive your payment in full by the instalment payment due date for 2 instalments within any consecutive 6 month period, 4% p.a. will be added to the original effective interest rate (EIR) on your entire CashOne outstanding balance. The revised EIR will be effective starting from the next statement date immediately after the second instalment payment due date is missed. The loan tenor will be extended so that your monthly instalment remains the same.

The following illustration is based on a loan amount of $10,000 with a 12 month tenor, applied/flat interest rate of 8.58% and original EIR of 15.48%.

Refer to Table 1

Your original monthly instalments are reflected in Table 1 below

If payment is not received by the instalment payment due date for Month 2 and Month 3, the revised EIR (refer to Table 2) will be effective starting from the next statement date, i.e from the statement you receive in Month 4 onwards.

Refer to Table 2

Your revised EIR is reflected in Table 2 below. Revised EIR = 15.48% p.a. + 4% p.a. (i.e. 19.48% p.a. is payable from the statement you receive in Month 4 onwards)

Refer to Table 3

The revised EIR will be reinstated to the original EIR, if the instalment payment due is made in full by the instalment payment due date for 6 consecutive months. The reinstatement (if any) will be effective from the next statement date after we receive the 6th instalment payment. In the above example, if you make payment in full before the instalment payment due date for 6 consecutive months (Month 4 to Month 9 statements), your revised EIR will revert to the original EIR on the Month 10 statement. After your original EIR has been reinstated, your loan tenor will be recalculated and extended accordingly.