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Fast forward your plans with CashOne Personal Loan

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Woman excited about her CashOne personal loan approval

Fast forward your plans with CashOne Personal Loan

Realise your plans faster with CashOne

A personal loan that allows you to borrow up to 4x your monthly income. Apply now to enjoy staff preferential rate from 2.88% p.a. (EIR 5.43% p.a)

Preferential Rate Table

Enjoy preferential staff interest rate as low as 2.88%p.a. (EIR 5.43%p.a.) on your CashOne Personal Loan

Loan Tenor  
AR (% p.a.)
EIR (% 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
FEE
CHARGE
Change of tenor $50 per change
Default interest (payment is not received by payment due date twice within 6 consecutive months) 4% p.a. will be added to the original EIR on your entire outstanding balance. The loan tenor will be extended so that your monthly instalment stays the same. This revised EIR will be reinstated to the original EIR when minimum payment due is made by payment due date for six consecutive months.
Late payment $100 will be charged if minimum payment is not received by the due date. If the instalment amount payment is not received on or before the due date in full and a balance is carried forward from the relevant statement, finance charges will be calculated on a daily basis at the EIR of 29.9% (0.082% per day).
Annual Fee for Standard Chartered Platinum Visa Credit Card $196.20 (including GST) –waived for staff
Please click here for more information on the Platinum Visa Credit Card, including the applicable fees and charges (such as the finance charges and late payment fee)

Staff Banking Privileges

EXCLUSIVELY FOR STAFF

  • No annual fee for the bundled Visa Platinum Credit Card
  • No early redemption fees
  • No hassle as income details and/or documents are obtained from HR department directly with your consent
  • No credit card annual fee

FOR RETAIL CLIENTS

  • First year annual fee:
    $199 (deducted from the loan approved)
    Second year till expiry of instalment tenor:
    $50 annual fee waived if all payment is received by payment due date for the past 12 months
  • Early redemption fee of $150 or 3% of the outstanding principal, whichever is higher
  • Standard Chartered Platinum Visa Credit Card annual fee of $196.20 (including GST) –waived for 5 years

FAQs

  • CashOne is an instalment loan on your credit card that allows you to enjoy a loan amount of up to 4 times your monthly income.

    Annual income

  • Loan tenors available are 1, 2, 3, 4 and 5 years.

  • If your annual income is $30,000 and above, you will be issued a Platinum Credit Card. As the credit limit on your Platinum Credit Card or existing Standard Chartered Credit Card is treated as a loan, you will only be able to use the available credit limit on your Platinum Credit Card for retail transactions as and when you have repaid the CashOne loan.

  • You must be 21 years of age and above with a minimum annual income of:

    • $20,000 for Singapore Citizens and Permanent Residents
    • $60,000 for foreigners with Employment Pass
  • No. Your loan amount will either be up to 2 times or 4 times your monthly income depending on your credit history and annual income.

    Annual Income Approved Limit Approved Products Approved Products
    $30,000 and above Up to 4X monthly income Personal Loan on Platinum Credit Card Personal Loan disbursement advice
    Platinum Credit Card pack
    $20,000 and $29,999 Up to 2X monthly income Personal Loan Personal Loan disbursement advice
  • 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:

    Loan Amount $20,000
    Flat Interest Rate 7.50% p.a. (Effective Interest Rate of 14.39% p.a.)
    Tenor 3 years
    Total Interest Charged for the Loan $20,000 x 7.50% p.a. x 3 years = $4,500
    Loan amount + Total Interest $20,000 + $4,500 = $24,500
    Monthly Instalment $24,500 / 36 = $680.56
  • 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.

    Loan amount $20,000
    Applied / Flat Interest Rate p.a. 7.50%
    Effective Interest Rate p.a. 14.39%
    Tenor 3 years
    Period
    (month)
    Loan balance
    ($)
    Interest
    ($)
    Principal
    ($)
    Instalment ($)
    (sum of Interest and Principal)
    1 20,000 228 452 681
    2 19,548 223 458 681
    3 19,090 218 463 681
    4 18,627 213 468 681
    5 18,159 207 473 681
    6 17,686 202 479 681
    7 17,207 196 484 681
    8 16,723 191 490 681
    9 16,233 185 495 681
    10 15,738 180 501 681
    11 15,237 174 507 681
    12 14,730 168 512 681
    13 14,218 162 518 681
    14 13,699 156 524 681
    15 13,175 150 530 681
    16 12,645 144 536 681
    17 12,108 138 542 681
    18 11,566 132 549 681
    19 11,017 126 555 681
    20 10,463 119 561 681
    21 9,901 113 568 681
    22 9,334 106 574 681
    23 8,760 100 581 681
    24 8,179 93 587 681
    25 7,592 87 594 681
    26 6,998 80 601 681
    27 6,397 73 608 681
    28 5,790 66 614 681
    29 5,175 59 622 681
    30 4,554 52 629 681
    31 3,925 45 636 681
    32 3,289 38 643 681
    33 2,646 30 650 681
    34 1,996 23 658 681
    35 1,338 15 665 681
    36 673 8 673 681
    Total 4,500 20,000 24,500

    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

    Approved Product CashOne
    Repayment Account Starts with “9702 2228 xxx xxx”
    Repayment Amount Stated on your monthly statement
    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.

    Table 1, Original EIR
    Loan Balance 10,000.00
    Total Interest ($) 858.20
    Effective Interest Rate (EIR) 15.48
    Month Loan Balance ($) Interest
    ($)
    Principal
    ($)
    Instalment ($)
    (sum of Interest and Principal)
    1 10,000.00 129.00 775.85 904.85
    2 9,224.15 118.99 785.86 904.85
    3 8,438.29 108.85 796.00 904.85
    4 7,642.30 98.59 806.26 904.85
    5 6,836.03 88.18 816.66 904.85
    6 6,019.37 77.65 827.20 904.85
    7 5,192.17 66.98 837.87 904.85
    8 4,354.30 56.17 848.68 904.85
    9 3,505.62 45.22 859.63 904.85
    10 2,645.99 34.13 870.72 904.85
    11 1,775.27 22.90 881.95 904.85
    12 893.33 11.52 893.33 904.85
    Table 2, Revised EIR
    Loan Balance 6,836.03
    Total Interest ($) 516.79
    Effective Interest Rate (EIR) 19.48
    Month Loan Balance ($) Interest
    ($)
    Principal
    ($)
    Instalment ($)
    (sum of Interest and Principal)
    4 7,642.30 124.06 780.79 904.85
    5 6,861.51 111.39 793.46 904.85
    6 6,068.04 98.50 806.35 904.85
    7 5,261.70 85.41 819.43 904.85
    8 4,442.26 72.11 832.74 904.85
    9 3,609.53 58.59 846.26 904.85
    10 2,763.27 44.86 859.99 904.85
    11 1,903.28 30.90 873.95 904.85
    12 1,029.32 16.71 888.14 904.85
    13 141.18 2.29 141.18 143.48
    Table 3, Reinstated EIR
    Loan Balance 1,875.22
    Total Interest ($) 38.34
    Effective Interest Rate (EIR) 15.48
    Month Loan Balance ($) Interest
    ($)
    Principal
    ($)
    Instalment ($)
    (sum of Interest and Principal)
    10 2,763.27 35.65 869.20 $904.85
    11 1,894.07 24.43 880.42 904.85
    12 1,013.65 13.08 891.77 904.85
    13 121.88 1.57 121.88 123.45

Terms and conditions

Important Information

If you are an existing Standard Chartered Credit Cardholder, you will be applying for a Credit Card Instalment Loan which will drawdown from your existing Credit Card limit.

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

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 Personal Loan.

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