If you are looking for a personal loan in Singapore, then you may want to consider the Maybank Creditable Term Loan. This loan offers a low interest rate of only 3.28% p.a. and flexible repayment options over 12, 24, 36, 48, or 60 months. Maybank is also waiving the processing fee of 1% for online applications, making it even more affordable.
Maybank Creditable Term Loan is an excellent option for those who need a personal loan for various reasons, such as home renovation, education, or medical expenses. The loan is available to anyone between the ages of 21 and 65 with an existing Creditable account.
With the waived processing fee, you can save money on your loan and enjoy lower monthly payments. The flexible repayment options allow you to choose a repayment period that suits your budget and financial goals.
1-Min Read: Maybank CreditAble Term Loan Has a Sweet Waiver for You
Hey there, Singapore borrowers! Are you in the market for a loan but worried about upfront fees? Maybank’s CreditAble Term Loan might be your perfect match. Here’s the quick scoop:
- Apply online and score a waived processing fee of 1%. That’s real money you can save right off the bat!
- Use the loan to consolidate debt, spruce up your home, or chase any other financial goal.
This fee waiver is a great starting point, but there’s more to discover. Want to know about interest rates, repayment options, and how to qualify?
We’ve got a comprehensive guide packed with all the details. Dive deeper and unlock the full potential of the Maybank CreditAble Term Loan – it could be the key to achieving your financial goals!
Overview of Maybank Creditable Term Loan
If you’re looking for a personal loan with low interest rates and repayment flexibility, you might want to consider the Maybank Creditable Term Loan. This loan allows you to repay over 12, 24, 36, 48, or 60 months with a low-interest rate of only 3.28% p.a. Additionally, the processing fee of 1% is waived for online applications, making it even more affordable.
Maybank Creditable Term Loan offers a high borrowing limit of up to 90% of your credit limit, and you can access the funds easily through a chequebook, ATM card, or online banking. This makes it a convenient option for those needing quick cash access.
One of the unique features of the Maybank Creditable Term Loan is the effective interest rate (EIR) calculation. The EIR considers the compounding effect of monthly interest charges, so you know exactly how much you’ll repay over the loan term. This helps you plan your finances better and avoid any surprises later on.
Overall, Maybank Creditable Term Loan is an excellent option if you’re looking for a personal loan with low-interest rates, flexibility in repayment, and a high borrowing limit. The waived processing fee for online applications makes it even more affordable.
Eligibility and Application
Are you looking for a personal loan with waived fees in Singapore? Maybank’s CreditAble Term Loan is a great option to consider. Here’s what you need to know about the eligibility and application process.
Eligibility Criteria
To be eligible for the CreditAble Term Loan, you must be an existing CreditAble account holder with Maybank. You must also be a Singapore Citizen, Singapore Permanent Resident, or a Foreigner with a valid passport. The age requirement is between 21 to 65 years old. Additionally, you must have an annual income of at least S$30,000.
Application Process
The application process for the CreditAble Term Loan is simple and can be done online. To apply, you will need to provide the following documents:
- Your NRIC or Passport
- Your latest Income Tax Notice of Assessment or latest computerised payslip
- Your latest bank statement or CPF statement showing your salary crediting account
Once you have gathered these documents, you can complete the online application form. The form will require your personal information, employment details, and loan amount. After submitting your application, it will be processed within three business days.
In conclusion, if you meet the eligibility criteria and have the required documents, applying for the CreditAble Term Loan with Maybank is easy and hassle-free. Plus, with waived fees, you can save money while getting the financial assistance you need.
Loan Features and Benefits
If you’re looking for a personal loan with waived fees, the Maybank CreditAble Term Loan could be the right choice. Here are some of the key features and benefits of this loan:
Loan Amount and Tenure
Maybank CreditAble Term Loan offers a loan amount of up to S$30,000 and a repayment period of up to 60 months. This means you can borrow and repay the amount you need over a suitable period.
Repayment Options
Maybank CreditAble Term Loan offers both fixed and flexible repayment options. With fixed repayments, you pay a fixed monthly instalment for the entire repayment period. With flexible repayments, you can pay as little as 3% of your outstanding balance or S$30, whichever is higher, each month. This allows you to manage your finances and repay the loan quickly.
Accessibility
Maybank CreditAble Term Loan offers easy accessibility through online banking, ATM card, cheque book and instant cash disbursement. This means you can access your funds whenever needed and manage your loan easily from the comfort of your home.
Overall, the Maybank CreditAble Term Loan offers an excellent option for those seeking a personal loan with waived fees. With its flexible repayment options, easy accessibility and competitive interest rates, it’s a loan that can help you achieve your financial goals.
Tip: Pre-calculate Repayments
Maybank offers a repayment calculator on their website. Utilise this tool to determine the best loan amount and repayment term that fits your budget.
Remember, a longer loan term will mean lower monthly payments but more interest paid overall.
Fees and Interest Rates
Knowing its fees and interest rates is vital if you plan to take a loan. With the Maybank CreditAble Term Loan, you can enjoy low-interest rates and waived fees.
Understanding Interest Rates
Maybank CreditAble Term Loan offers a fixed interest rate of 3.88% p.a. for all loan tenures, making it easier to plan your finances. The effective interest rate (EIR) for a 12-month loan tenure is 7.29%.
You can use the online calculator provided by Maybank to get an estimate of your monthly repayment amount.
Fee Structure
Maybank CreditAble Term Loan has a simple fee structure. There is a processing fee of 1%, which is currently waived for online applications. There is also an annual fee of S$80, which is waived for the first two years. Late payment and early repayment fees may apply, so making your payments on time is vital.
Waived Fees
Maybank CreditAble Term Loan offers an annual fee waiver for the first two years, making it an attractive option for those seeking a flexible and convenient personal loan. The processing fee is also currently waived for online applications, which means you can save on expenses when you apply online.
In summary, the Maybank CreditAble Term Loan offers low interest rates, a simple fee structure, and waived fees for the first two years. With the online calculator provided by Maybank, you can easily estimate your monthly repayment amount and plan your finances accordingly.
Terms and Conditions
Congratulations! You have decided to apply for a Maybank CreditAble Term Loan and enjoy waived fees. Before you proceed, it is essential to understand the terms and conditions associated with this loan.
Credit Limit
Maybank CreditAble Term Loan offers a credit limit of up to 4 times your monthly income. This credit limit is subject to approval based on your credit score and other eligibility criteria.
Eligibility Criteria
To be eligible for the Maybank CreditAble Term Loan, you must be a Singaporean or Permanent Resident between 21 and 65. You must also have a minimum annual income of S$30,000 for Singaporeans and S$45,000 for foreigners.
Total Cost
The total cost of the loan includes the principal amount borrowed, interest charges, and any applicable fees. The interest rate charged is based on the prevailing Maybank board rate plus a fixed interest rate. The total cost of the loan will be disclosed to you before you sign the loan agreement.
Early Repayment
Maybank CreditAble Term Loan allows you to repay early without penalty charges. You can save on interest charges by paying off your loan earlier than the agreed loan tenure.
Late Payment Charge
If you fail to make your monthly repayment on time, you will be charged a late payment fee of S$80. This fee will be added to your outstanding balance and will accrue interest charges until fully paid.
Default Interest Rate
Maybank reserves the right to charge a default interest rate of 3% per month on the outstanding balance in the event of default. This rate is subject to change based on prevailing market conditions.
Overall, the Maybank CreditAble Term Loan is an excellent option for flexible and affordable loans. You can save even more on your total loan cost with waived fees. Read and understand the terms and conditions before signing the loan agreement.
Promotions and Offers
Current Promotions
Are you looking for an affordable personal line of credit to help you achieve your dreams? Maybank CreditAble Term Loan is the perfect solution for you. As a new customer, when you apply online, you can enjoy a low-interest rate of 3.28% p.a. and a waived % processing fee of 1%. [1]
But that’s not all! For a limited time, you can receive a cash credit of up to S$100 when you apply for a Maybank CreditAble Term Loan. [2]
Benefits for Existing CustomYou can enjoy various benefits if
If you have an existing CreditAble account, hofits. Maybank waives the annual fee for the first two years and offers a promotional interest rate of 9% during the first year of the loan. [2]
In addition, you can choose between flexible or fixed repayment options and access your funds easily through a chequebook, ATM card, or online banking. [4]
Don’t miss out on these fantastic offers and promotions. Apply for a Maybank CreditAble Term Loan today and start achieving your dreams!
Additional Services
Complementary Products
When you apply for a Maybank Creditable Term Loan in Singapore, you may also be interested in some complementary products that Maybank offers. For example, you can apply for a personal line of credit, giving you access to funds whenever needed. This is an excellent option if you need to cover unexpected expenses or if you want to have a backup plan in case of emergencies.
Another complementary product that Maybank offers is online applications. Applying for a loan online is quick, easy, and convenient. You can complete the entire application process from the comfort of your own home, and you can even check the status of your application online.
Customer Support
Maybank is committed to providing excellent customer support to all of its customers. You can contact the customer support team for assistance if you have questions or concerns about your Maybank Creditable Term Loan. The turnaround time for customer support requests is typically very fast, so you can get the help you need when you need it.
In addition to traditional customer support channels like phone and email, Maybank offers a live chat feature on its website. This is an excellent option if you need help quickly and don’t want to wait on hold for a long time. The live chat feature is available during business hours so that you can get help immediately.
Overall, Maybank Creditable Term Loan in Singapore is an excellent option for borrowing money for a specific purpose. With flexible repayment terms and low interest rates, this loan is a fantastic option for anyone who needs to borrow money. With complementary products like personal lines of credit, online applications, and excellent customer support, you can be sure you’re getting the best possible service from Maybank.
Comparison with Other Loans
Maybank vs Other Banks
Regarding personal loans in Singapore, Maybank Creditable Term Loan stands out from the rest. The loan offers a low-interest rate of only 3.28% p.a. and a flexible repayment period of 12 to 60 months. Additionally, the processing fee of 1% is waived for online applications, making it an even more attractive option.
Compared to other banks, Maybank Creditable Term Loan is highly competitive regarding interest rates and repayment options. For instance, DBS Personal Loan offers a higher interest rate of 3.88% p.a. and a shorter repayment period of up to 5 years. On the other hand, HSBC Personal Loan offers a lower interest rate of 3.4% p.a. but has a higher processing fee of 3.5%.
Creditable vs Personal Loans
Maybank Creditable Term Loan is a type of personal loan that offers a lump sum payment for various purposes, such as home renovations or debt consolidation. In contrast, the Maybank Personal Loan is a more general-purpose loan that can be used for multiple expenses, such as education, travel, or medical bills.
One of the main advantages of the Maybank Creditable Term Loan is its flexible repayment period, which allows you to choose a duration that suits your financial situation. This is particularly useful if you need to borrow a large sum of money and want to spread out the payments over a more extended period.
Maybank Personal Loan might be better if you prefer a shorter repayment period. The loan offers a fixed repayment period of up to 5 years, which can help you pay off the loan faster and reduce the overall interest charges.
When comparing Maybank Creditable Term Loans with licensed moneylenders, it is essential to note that they typically charge higher interest rates and fees. Additionally, licensed moneylenders are subject to stricter regulations and may not offer the same level of transparency and customer support as banks.
Overall, Maybank Creditable Term Loan is a highly competitive option for anyone seeking a personal loan in Singapore. With its low-interest rate, flexible repayment period, and waived processing fee, it is worth considering if you need to borrow money for any purpose.
Frequently Asked Questions
How can I have the fees for my Maybank CreditAble Term Loan waived?
Maybank waives the processing fee of 1% of the approved loan amount for the first two years. You can apply for the CreditAble Term Loan online to enjoy this benefit.
What are the eligibility criteria for fee waivers on Maybank CreditAble Term Loans?
To be eligible for fee waivers on Maybank CreditAble Term Loans, you must be a Singapore Citizen or Permanent Resident aged between 21 and 65 years old and earn an annual income of at least S$30,000.
Is there a special promotion for waived fees on Maybank CreditAble Term Loans this year?
Maybank may offer promotions for waived fees on CreditAble Term Loans from time to time. It is best to check with the bank or visit their website for the latest promotions.
How does the Maybank CreditAble Term Loan Calculator assist in understanding potential fees?
The Maybank CreditAble Term Loan Calculator is a valuable tool that helps you estimate your loan’s potential fees and repayment amounts. You can input the loan amount, repayment period, and interest rate to understand the costs and repayment amounts.
What steps should I take to check the status of my Maybank CreditAble application?
You can check the status of your Maybank CreditAble application by logging in to your Maybank2u account online or contacting Maybank’s customer service hotline. You must provide your application reference number and personal details to check the status.
In what ways can I manage the payment of my Maybank CreditAble bill?
You can manage the payment of your Maybank CreditAble bill through various channels, including Maybank2u online banking, AXS machines, SAM kiosks, and GIRO payment. You can choose the payment method that is most convenient for you.
Quick Credit: Your Strategic Choice for a Personal Loan
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