Whatever your next step in life, OCBC ExtraCash Loan helps you take it more easily. Whether you’re planning a wedding, furnishing a new home or taking the trip of a lifetime, you can do it more easily and save with OCBC ExtraCash Loan. Enjoy attractive interest rates and total financial control with these flexible loan features.
benefits
- Deferred payment option*
- Extra cash at up to 4 times+ your monthly salary
- Same-day approval~ at any OCBC branch for loan application
- Pay interest only on the outstanding balances
as it is calculated on monthly rest method.
- Interest rates as low as 1.25% per month (15% p.a.)
- Regular payment option
Start payments immediately upon loan approval
- Deferred payment option*
Unlike other loans, you can enjoy deferred payments of 3 months. This way, you can
use the extra cash for your needs and start repayments later.
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Assuming your 12-month loan is approved on 1st July:
| Payment Options |
You Start Payment On: |
No. Of Months |
Other banks’ instalment loan |
1st August |
12 |
Extra Cash Loan
Deferred Payment Option |
1st October |
9* |
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| * For deferred payment option, the first 3 instalments and interest will be billed together with your final month’s instalment. |
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LOAN TENORS
With loan tenors from 1 to 5 years, it’s easy to find a tenor that best suits your monthly
repayment needs.
| Loan Amount# |
Loan Tenor |
| |
1 year |
2 years |
3 years |
4 years |
5 years |
S$3,000 |
S$271 |
S$146 |
S$104 |
S$84 |
S$72 |
S$8,000 |
S$722 |
S$388 |
S$278 |
S$223 |
S$191 |
S$20,000 |
S$1,806 |
S$970 |
S$694 |
S$557 |
S$476 |
# Instalment amounts are calculated based on a regular instalment payment option with 15% p.a. applied interest. Figures simplified for illustration purposes and includes S$100 processing fee.
SAME-DAY APPROVAL~
Surprises happen and so sometimes you need cash in a hurry: for an unexpected opportunity or unfortunate emergency. OCBC can give fast same-day approval for your loan application. Same-day approval~ is available at all OCBC Branches from Monday to Friday. This is subject to submission of all mandatory documents.
Pay interest only on what you use: Interest will be calculated on a monthly rest method, whereby
you only pay interest only on your remaining loan amount.
 For applicants with an annual income of S$20,000 - S$29,999 |
Applied interest rate |
19.8% p.a. |
Processing Fee |
$100 |
Late Payment Fee |
S$60 |
Restructuring Fee |
3% of outstanding loan amount |
For Personal Annual Income between S$20,000 to S$29,999, the Effective Interest Rate is 27.0% p.a., 24.5% p.a., 23.7% p.a., 23.3% p.a. and 23.0% p.a. for the 1, 2, 3, 4 and 5 year tenors respectively, based on an approved loan amount of S$4,500.
| For applicants with an annual income of S$30,000 or more |
Applied interest rate |
15% p.a. |
Processing Fee |
$100 |
Late Payment Fee |
S$60 |
Restructuring Fee |
3% of outstanding loan amount |
For Personal Annual Income S$30,000 and above, the Effective Interest Rate is 18.3% p.a., 17.3% p.a., 16.9% p.a., 16.7% p.a., and 16.6% p.a. for the 1, 2, 3, 4 and 5 year tenors respectively, based on an approved loan amount of S$10,000.
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| Requirements |
For salaried employees
NRIC (front & back), and
- Singaporean or permenant residents
- Individuals with an income of S$20,000 and above
- Age between 21 to 55 years old
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| Mandatory Documents |
| For salaried employees
NRIC (front & back), and
- Latest Income Tax Notice of Assessment, OR
- Last 6 months’ CPF contribution history statement, OR
- Last computerised/electronic payslip
For self-employed, commission based or variable income earner
NRIC (front & back), and
- Latest Income Tax Notice of Assessment, OR
- Last 12 months’ CPF contribution history statement
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| Step 1 – |
Decide on your loan amount, loan tenor and repayment option |
| Step 2 – |
Provide us the OCBC deposit account that you want the cash deposited into.
Alternatively, if you do not have an OCBC deposit account, an account will be
opened for you |
| Step 3 – |
Mail or fax the application form plus supporting documents to us |
| Step 4 – |
Receive an SMS notification with the outcome of your loan approval when you apply for same day~ approval at any OCBC Branch. |
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~ Terms and conditions apply. Same-day approval is available at OCBC Branches from Monday – Friday only. This is subject to submission of all mandatory documents as listed overleaf. Please allow up to three working days after loan approval for the funds to be disbursed to your designated OCBC account. +Applicable only to applicants with annual income of S$30,000 and above without other unsecured facilities with OCBC Bank. Interest on the loan amount is calculated based on a monthly rest method. ^Offer ends 30 September 2010. The first 1,000 customers with an approved loan amount of S$12,000 and above (the "1,000 Successful Customers") will receive a free Kenneth Cole KC3879 or 4609 watch (the “Watch”) and the first 300 customers with any approved loan amount submitted via the online channel (the "300 Successful Customers") will receive a free Ungaro Ballpoint Trieste (the “Pen”). The 1,000 Successful Customers and the 300 Successful Customers shall collectively be referred to as “Successful Customers”. If a Successful Customer has an approved loan amount of S$12,000 and above and his application was submitted via the online channel, such Successful Customer will be entitled to receive both a Watch and a Pen. Save for this, each Successful Customer is only entitled to one gift. This offer is valid whist stocks last. The eligibility of each customer to receive a gift shall be determined at the absolute discretion of OCBC Bank. A redemption letter will be sent to (a) each of the 1,000 Successful Customers by 31 October 2010 and (b) each of the 300 Successful Customers by 31 October 2010. The gift is not exchangeable for cash or other items. OCBC Bank reserves the right at its sole and absolute discretion to replace any gift with any item(s) of similar value. OCBC Bank shall not be responsible for the quality, merchantability or the fitness for any purpose or any other aspect of any gift. Notwithstanding anything herein, OCBC Bank shall not at any time be responsible or held liable for any defect or malfunction in any gift, and/or for any loss, injury, damage or harm suffered or incurred by or in connection with the use of any gift by any person. OCBC Bank reserves the right to waive/vary/amend any of these terms and conditions without prior notice. The decision of OCBC Bank on all matters relating to this offer shall be final and binding.
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