OCBC Balance Transfer | Interest-Free Cash Loan | Promotion

Balance Transfer

Get instant cash at 0% interest (EIR from 4.63% p.a.)

Why you will love this

Instant approval and cash disbursement when you apply online

0% interest p.a. (EIR from 4.63%) and a one-time processing fee

Flexible repayment of as little as $50 across 3, 6, 9 or 12 months

Who can apply

Anyone above 21 years old

Singaporean or Singapore PR with an annual income of at least $20,000

Foreigner with an annual income of at least $45,000

Enjoy the flexibility of paying a higher or lower amount each month.

Balance transfer

Example: You have an outstanding amount of $7,000 over a 12-month period with Bank X.

Bank X

icon_bankx

Your outstanding amount with Bank X

$7,000


Your credit card interest rate

26% per annum


What you need to pay Bank X

$1,820

OCBC Bank

icon_bankocbc

Your outstanding amount with OCBC

$7,000


Your interest rate with Balance Transfer

0%


One-time processing fee

4.0%


What you need to pay OCBC

$280

You saved 81% on interest charges!

Loan calculator

Key in the Balance Transfer amount and select your loan tenure to see how much you have to repay monthly.

Calculate your monthly repayment

I want to repay loan over 0 months

3 months

12 months

For loans with more than 1 year in repayment schedule, please check out Cash-on-Instalments.

Total amount you need to pay

$0

Loan amount

+

$0

One-time processing fee (0% of approved amount)

+

$0

0% interest p.a. (EIR: 0%)

=

$0

Total repayment amount*

*Actual rates may differ from what is shown during the application.

How you will repay the loan

Month 1

You have a total repayment amount of $0 over 0 months

Month 0

You will need to pay at least $0 for the first month.

For subsequent months, you will need to pay 3% of your outstanding balance or $50 (whichever is higher).

^This is the indicative amount for the first month.

^This is the indicative amount for the first month.

If your loan tenure has expired, the interest rate will return to the prevailing interest rates and fees of OCBC Credit Cards Fees or EasiCredit.

Month 1

Month 0

Balance transfer

Example: You have an outstanding amount of $7,000 over a 12-month period with Bank X.

    Bank X OCBC Bank
    Your outstanding amount with Bank X$7,000 Your outstanding amount with OCBC$7,000
    Your credit card interest rate26% per annum Your interest rate with Balance Transfer0%
    What you need to pay Bank X$1,820 One-time processing fee4.5%
    What you need to pay OCBC$315
    (You saved 81% on interest charges!)
    Rates and repayment periods

    Loan amount:

    • Interest Rate (per annum)
    • Nominal interest rate
    • Effective Interest Rate (EIR)
    • Effective Interest Rate
    Period (months) 3 months 6 months 12 months
    One-time processing fee 1.80%
    $18
    2.50%
    $25
    4.50%
    $45
    Nominal interest rate 0% per annum
    Effective Interest Rate (EIR) 7.38% per annum 5.34% per annum 5.20% per annum
    Repayment period
    One-time processing fee
    Nominal interest rate
    Effective Interest Rate (EIR)
    How it works

    Here’s an illustration of what will happen if you were to take out a loan from your existing EasiCredit or credit card account.

    1

    Your existing Credit Card or EasiCredit account
    You hold a Credit Card or EasiCredit account with a total credit limit of $10,000.

    2

    Loan from your existing Credit Card or EasiCredit Account
    You take a Balance Transfer of $4,000 for 12 months with a one-time 4.0% processing fee.

    3

    Remaining available credit limit
    After deducting your loan of $4,000 and the one-time processing fee of $160 (4.0% of loan amount), you now have $5,840 of available credit.
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    promotion

    Balance Transfer Promotion

    New to Balance Transfer?
    Apply online and get $18 cashback (no minimum loan amount).

    Valid till 31 January 2024. Terms and conditions apply.

    before you apply

    Eligibility requirements

    Minimum age

    21 years old

    Annual income

    $20,000 and above for Singaporeans and Singapore PRs

    $45,000 and above for foreigners

    Product holding

    Existing OCBC Credit Card or OCBC EasiCredit account holder




    WAYS TO APPLY

    Apply for Balance Transfer today

    An EasiCredit account or OCBC Credit Card is required to apply for Balance Transfer.

    With access to OCBC Internet Banking

    or

    No access to OCBC Internet Banking

    Do not have access to your OCBC Internet Banking account? Contact our 24 hours hotline at +65 6363 3333 to apply.

    Application for EasiCredit account

    1
    Apply for an EasiCredit account. Terms and conditions apply.
    2
    Once your EasiCredit account is approved, return to this page to apply for Balance Transfer.