EASICREDIT

Get standby cash wherever and whenever you need it

Why you will love this

Conveniently access cash via Mobile Banking, Internet Banking, ATM and cheque

Flexible repayment — pay what you can, when you can

Instant approval and disbursement when you apply via Myinfo

Who can apply

Singaporean or Singapore PR above 21 years old with an annual income of at least S$20,000

Foreigner above 21 years old with an annual income of at least S$45,000

 

Current promotion: Earn S$50 cashback when you open a new account! T&Cs apply.
Find out more

IMPORTANT NOTICE

Update of Terms & Conditions for EasiCredit

From 9 March 2024, clause 19 will be revised. View the revised terms and conditions.

EasiCredit is a standby line of credit that lets you flexibly choose your repayment amount.

Benefits
icon-quick
icon-quick

Quick and affordable short-term loan

Withdraw what you need at a prevailing interest rate of 0.06% per day, accrued on a daily basis. Minimum repayment is only 3% or S$50 per month, whichever is higher.

draw
draw

Draw at lower interest rates

Enjoy lower interest rates when you draw down on your unused EasiCredit limit using Cash-on-Instalments or Balance Transfer (EIR from 5.20% per annum).

Interest Rates
  • Maximum loan
  • S$30,000 - S$119,999
  • S$120,000 and above
For annual income S$20,000 – S$29,999 S$30,000 – S$119,999 S$120,000 and above
Maximum loan Up to 2x your monthly income Up to 4x your monthly income Up to 6x your monthly income
Prevailing interest rate 29.80% per annum 22.90% per annum 22.90% per annum
Minimum repayment1 5% of outstanding amount OR S$50, whichever is higher 3% of outstanding amount OR S$50, whichever is higher 3% of outstanding amount OR S$50, whichever is higher
For annual income
Maximum Loan
Prevailing interest rate
Minimum repayment1

1The monthly minimum repayment amount shall include any amounts above your approved credit limit and any overdue payments in respect of the Account. The monthly minimum repayment amount is not applicable to Cash-on-Instalments.

Please note that for Cash-On-Instalments taken on EasiCredit, the monthly minimum repayment will be the monthly instalment amount plus the fixed percentage of outstanding amount or S$50, whichever is higher.

Please note that if the minimum payment to your EasiCredit account is not received by OCBC Bank by the payment due date in the current month, the interest rate applicable to your outstanding amount(s) will increase to 28.00%/36.00% per annum in the next statement, depending on your current prevailing interest rate 22.90%/28.00%/29.80% per annum. This interest rate will revert to the prevailing interest rate as soon as your account is no longer past due in the current and last five months.

Fees and Charges
Fee Category Charges
Annual & Monthly Fees
Annual Fee

S$120
(The annual fee for the first year will be waived for customers with an annual income of S$30,000 and above)

Monthly Service Fee

NIL

Minimum Overdraft Interest

S$5

Late Fee

S$120

Excess Fee

S$50

Over-the-Counter Payment/Deposit

S$25 per transaction

Cheque-related Fees
SGD Cheque Issued

S$0.75 per cheque
(waived for account holders aged 60 years old and above till 31 Dec 2025)

Cheque Return

S$40 per cheque

Cheque Stop
(requested at branch or via call)

S$30 per cheque

Cheque Stop
(requested via OCBC Digital app, Internet Banking or Phone Banking)

S$10 per cheque

Cheque book replacement
(collect at a branch or request home delivery, delivery charge applies)

S$10 per cheque book

Loss of Cheque Book
(via Branch / Call Centre)

S$50

Loss of Cheque Book
(via Electronic / Phonebanking channels)

S$30

ATM Card Replacement Fee
Lost / stolen card

S$5 per card

Forgotten PIN

S$5 per card

Damaged card

Free

Statement Retrieval Charges
Current and previous month's statement

Free

Within a year

S$20 per copy

Between 1 to 3 years

S$30 per copy

More than 3 years

S$50 per copy

Annual & Monthly Fees

Annual Fee
Fee Category

S$120
(The annual fee for the first year will be waived for customers with an annual income of S$30,000 and above)

Monthly Service Fee
Fee Category

NIL

Minimum Overdraft Interest
Fee Category

S$5

Late Fee
Fee Category

S$120

Excess Fee
Fee Category

S$50

Over-the-Counter Payment/Deposit
Fee Category

S$25 per transaction

Cheque-related Fees

SGD Cheque Issued
Fee Category

S$0.75 per cheque
(waived for account holders aged 60 years old and above till 31 Dec 2025)

Cheque Return
Fee Category

S$40 per cheque

Cheque Stop
(requested at branch or via call)
Fee Category

S$30 per cheque

Cheque Stop
(requested via OCBC Digital app, Internet Banking or Phone Banking)
Fee Category

S$10 per cheque

Cheque book replacement
(collect at a branch or request home delivery, delivery charge applies)
Fee Category

S$10 per cheque book

Loss of Cheque Book
(via Branch / Call Centre)
Fee Category

S$50

Loss of Cheque Book
(via Electronic / Phonebanking channels)
Fee Category

S$30

ATM Card Replacement Fee

Lost / stolen card
Fee Category

S$5 per card

Forgotten PIN
Fee Category

S$5 per card

Damaged card
Fee Category

Free

Statement Retrieval Charges

Current and previous month's statement
Fee Category

Free

Within a year
Fee Category

S$20 per copy

Between 1 to 3 years
Fee Category

S$30 per copy

More than 3 years
Fee Category

S$50 per copy

The above is intended as a consumer guide only. It contains the salient fees and charges applicable to EasiCredit Accounts. For full details, please read the Oversea-Chinese Banking Corporation Limited terms and conditions governing Personal Line of Credit Accounts. In the event of any inconsistency or conflict between any statement contained in the above and the terms and conditions governing Personal Line of Credit Accounts, the terms and conditions governing Personal Line of Credit Accounts shall prevail.

permanent credit limit increase

Enjoy 4x greater financial freedom

Get up to 4x your monthly income (for annual income between S$30k - S$120k).

Enjoy 6x greater financial freedom

Get up to 6x your monthly income (for annual income above S$120k).

Promotion

EasiCredit Promotion

Enjoy S$50 cashback when you open a new account!

Valid till 30 June 2024.
Terms and conditions apply.

Before you apply

Eligibility requirements

Minimum age

21 years old

Annual income

S$20,000 and above for Singaporeans and Singapore PRs

S$45,000 and above for foreigners


What to submit

Identification

Singaporeans and Singapore PRs

Foreigners

Supporting documents

Singaporeans and Singapore PRs

Foreigners

Income documents

Salaried employees

Self-employed, commissioned or variable income earners

New to workforce



Important notices

Credit Bureau Singapore
Please note that additional time may be needed to review your application as Credit Bureau Singapore will be synchronising data from 12am to 8am daily.

Myinfo
Myinfo will be temporarily unavailable from 2am to 8.30am every Wednesday and Sunday due to scheduled maintenance.

System Maintenance
Please note that your product may not be availed to you instantly during system maintenance hours between 9.30pm to 6am.

Online Application

  • You will be required to submit your income information via CPF login, so please make sure you have your Singpass username and password ready.
  • Please ensure you have a printer with you as you will need to print and send the completed forms to us.

Ready to apply?

Apply for EasiCredit today

FAQs
Instant Usage of EasiCredit
  1. How can I use my EasiCredit account immediately if I have not received my ATM card yet?
    You can log in to your Online Banking account and use PayNow to transfer daily up to SGD 1000 from your EasiCredit account to PayNow registered user of your choice. Instructions on this arrangement is also available in the email that is sent to you upon application approval.
  2. I did not provide my signature when I signed up for an EasiCredit. What should I do if I want to perform transactions that require the verification of signature?
    Please proceed to any OCBC branch where you can present to any OCBC staff a copy of your signature together with your original identification documents – NRIC or passport, to update your signature with the bank.
  3. How can I apply for a chequebook?
    Successful EasiCredit applications via our website will not automatically come with a cheque book. If you require a cheque book, you can click on the link in the EasiCredit approval email or SMS that was sent to you after your application has been approved. After you have been verified, you may then proceed to select the option “Apply for Cheque Book”, upload your signature and click submit to apply for a cheque book. As this link is only available for 7 calendar days, you may also request for a cheque book via Internet Banking subsequently.
Payment due date

Your EasiCredit statement will be generated at the end of the calendar month.

The due date for EasiCredit payment is 28 calendar days after the statement is generated (the “Payment Due Date”). If the Payment Due Date falls on a weekend or public holiday, the actual payment due date will fall on the previous business day.

Current due date New due date
Payment Due Date falls on a Saturday or a Sunday Friday before the original Payment Due Date
(assuming it is a business day)
Payment Due Date falls on a Monday and is a public holiday Friday before the original Payment Due Date
(assuming it is a business day)
Modes of payment and cut-off times
  1. FAST Funds transfer from any participating bank’s online banking platform
    Almost instant once transaction is completed. Refer to the Association of Banks in Singapore’s website at www.abs.org.sg/fast.php for a list of participating banks.
  2. Cheque payment
    Cut-off time of 3.30pm from Monday to Friday for next working day clearing.
  3. AXS machines
    Payment via AXS terminals after 5pm or on a Sunday or public holiday will be credited on the next working day.
  4. Cash deposit machines
    Cut-off time of 9pm from Monday to Saturday. Deposits on a Sunday or public holiday will be considered Monday’s deposit.
  5. Payment at branches
  6. Funds transfer
    Online fund transfers to other banks generally take 2 - 3 business days to clear whereas it is immediate if the transfers are between OCBC accounts.
Permanent Credit Limit Increase
  1. Who is eligible for permanent credit limit increase?

    All EasiCredit account holders can apply for an increase in credit limit. Application can be made via OCBC Digital or by filling up an application form.

  2. When and how can I know the outcome of the application?

    For application via OCBC Digital, the outcome of your application will be notified via SMS and/or Email. It may take up to 5 working days to process your application. For application using form, a letter will be sent to notify you on the application outcome.

  3. Will I definitely get an increase in credit limit if I were to apply?

    If your latest income documents reflect an increase in income based on our record, credit limit increase will be subjected to our review. Please note that if your income documents reflect a lower earned income than what is currently in our record, your current credit limit will be reduced accordingly to reflect the prevailing earned income.

  4. What is the maximum credit limit I can receive?
     
    Annual income Credit limit per customer
    S$30,000 to S$120,000 Up to 4x monthly income
    >S$120,000 Up to 6x monthly income

    The approved credit limit is a shared limit (based on above table) with all Unsecured Credit Facilities with OCBC. You can specify your new preferred credit limit for either your OCBC Credit Card account(s) or OCBC EasiCredit. OCBC will in its absolute discretion, determine the credit limit based on income information in our recorded and its credit and risk management policies.

    For more FAQs, refer to the Permanent Credit Limit Increase for EasiCredit FAQs.

More questions and answers