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OCBC ExtraCash Loan

Benefits

  • Borrow up to 6x your monthly salary
  • Fixed regular monthly repayments
  • Same-day approval at a branch (Mondays to Fridays)

Apply Directly with Bank

Interest Rates

You can choose a loan term from 1 to 5 years with regular payments every month.

LOAN AMOUNT* / LOAN TENOR 1 YEAR 2 YEARS 3 YEARS 4 YEARS 5 YEARS
S$4,500 S$406 S$218 S$156 S$125 S$107
S$10,000 S$903 S$485 S$347 S$278 S$238

*Instalment amounts are calculated based on a regular instalment payment option with 15% applied interest yearly. Figures simplified for illustration purposes and includes processing fee of S$150 or 1.5% of the approved loan amount, whichever is higher, for the category of Annual Income of S$30,000 and above.

Note: For a loan of S$10,000, the Effective Interest Rate (which comprises the applied interest rate and processing fee) will be 19.45% p.a. (for one year), 17.86% p.a. (for two years), 17.31% p.a. (for three years), 17.03% p.a. (for four years) and 16.87% p.a. (for five years).

Eligibility

  • Age 21 and above
  • Singaporeans (Annual income more than S$20,000)
  • Singapore PRs and Foreigners (Annual income more than S$30,000)

Fees

Annual income Processing fee Late fee Early partial/full repayment fee Restructuring fee
S$20,000 – S$29,999 S$100 S$80 3% of amount to be repaid (S$1,000 minimum repayment) 3% of outstanding loan amount
S$30,000 and above S$150 or 1.5% of the approved loan amount, whichever is higher S$80 3% of amount to be repaid (S$1,000 minimum repayment) 3% of outstanding loan amount

 

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