Looking for a fast cash loan in Singapore? OCBC ExtraCash Loan might be the solution for you. Not only does it offer affordable fixed repayments of up to 60 months, but it also provides cashback rewards for eligible customers. That’s right – you can get cash back for taking out a loan.
With OCBC ExtraCash Loan, you can get up to 6x your monthly income with a low interest rate. Plus, if you’re an eligible customer, you can get up to S$500 cashback when you apply for the loan online. The cashback amount depends on the loan amount and tenure you choose, so check the terms and conditions to see if you’re eligible.
What’s more, applying for an OCBC ExtraCash Loan is hassle-free. You can get instant approval via Myinfo, and there’s no need to provide any income documents if you’re an existing OCBC customer. So why wait? Apply for OCBC ExtraCash Loan today and enjoy the benefits of fast cash and cashback rewards.
1-Minute Read: OCBC ExtraCash Loan Cashback Offer in Singapore
Need a financial boost for that dream renovation or unexpected expense? Singaporeans, rejoice! OCBC’s ExtraCash Loan now comes with a cashback perk, making responsible borrowing even more rewarding.
Here’s what you need to know:
- Cashback Boost: Borrow at least S$10,000 and get rewarded! The more you borrow (within reasonable limits), the bigger the cashback you can receive – up to a whopping S$1,088!
- Simple Eligibility: This offer is perfect for those with good credit history who need a personal loan for various purposes.
- Limited-Time Opportunity: Don’t miss out! This cashback promotion might have ended in December 2023, but OCBC is known for offering exciting deals.
What This Means for You:
- Save on Loan Costs: The cashback essentially reduces the overall cost of your loan, making it a more attractive option.
- Greater Flexibility: The ExtraCash Loan can be used for various needs, from debt consolidation to home improvements.
- Rewarding Financial Solutions: OCBC is committed to providing innovative loan options that benefit Singaporeans.
Intrigued? There’s More to the Story!
While the specific cashback offer might be over, OCBC is constantly revamping its ExtraCash Loan to serve Singaporeans better. This could mean future cashback promotions, lower interest rates, or even faster application processes.
Understanding OCBC ExtraCash Loan
If you’re looking for a cash loan in Singapore, OCBC ExtraCash Loan might be the perfect solution for you. This loan is designed to help you meet your financial needs with ease. Here’s what you need to know about ExtraCash Loan.
What Is ExtraCash Loan?
ExtraCash Loan is a personal loan offered by OCBC Bank in Singapore. It is a cash loan that allows you to borrow up to 6 times your monthly income, with fixed repayments over 12 to 60 months. The loan is available to Singaporean or Singapore PR above 21 years old with an annual income of at least $20,000.
With ExtraCash Loan, you can easily view outstanding payments via online banking. The loan also comes with instant approval and disbursement when you apply via Myinfo. This means you can get the cash you need quickly and easily.
Benefits of Choosing ExtraCash Loan
There are many benefits to choosing ExtraCash Loan from OCBC Bank. Here are just a few:
- High Loan Amount: You can borrow up to 6 times your monthly income, which means you can get the cash you need to meet your financial needs.
- Fixed Repayments: With fixed repayments over 12 to 60 months, you can easily plan your budget and know exactly how much you need to pay each month.
- Online Banking: You can easily view outstanding payments via online banking, which makes it easy to keep track of your loan.
- Instant Approval and Disbursement: When you apply via Myinfo, you can get instant approval and disbursement, which means you can get the cash you need quickly and easily.
- Low Interest Rates: OCBC Bank offers competitive interest rates on ExtraCash Loan, which means you can save money on interest charges.
If you’re looking for a cash loan in Singapore, ExtraCash Loan from OCBC Bank is a great option. With high loan amounts, fixed repayments, and competitive interest rates, you can get the cash you need quickly and easily.
Eligibility and Requirements
If you are a Singaporean or Singapore PR, you can apply for the OCBC ExtraCash Loan if you are at least 21 years old and have an annual income of at least $20,000. Foreigners above 21 years old with an annual income of at least $45,000 are also eligible to apply.
Eligibility Criteria for Singaporeans and PRs
To apply for the OCBC ExtraCash Loan as a Singaporean or PR, you need to have a valid NRIC and MyInfo account. You also need to submit your Income Tax Notice of Assessment for the past year as proof of your income.
Documentation Needed for Application
When applying for the OCBC ExtraCash Loan, you will need to provide the following documents:
- A copy of your NRIC (front and back) or passport (for foreigners)
- Your latest Income Tax Notice of Assessment
- Your latest computerised payslip or employment letter
- Your latest bank statement showing your salary crediting account
Eligibility for Foreigners in Singapore
Foreigners who hold an Employment Pass are eligible to apply for the OCBC ExtraCash Loan. You will need to provide a copy of your passport, employment pass, and the same documentation as Singaporeans and PRs.
In summary, the OCBC ExtraCash Loan is available to Singaporeans, Singapore PRs, and foreigners in Singapore who meet the eligibility criteria and provide the necessary documentation. By applying for this loan, you can enjoy cashback rewards and flexible repayment options.
Loan Features and Terms
Are you in need of fast cash? Look no further than OCBC ExtraCash Loan Cashback. This loan is designed to help you get the funds you need quickly and easily. Here are some of the key features and terms of the loan.
Loan Amount and Tenure
With OCBC ExtraCash Loan Cashback, you can borrow up to 6 times your monthly income. The loan amount ranges from S$1,000 to S$120,000. You can choose a repayment period of 12 to 60 months, depending on your needs. This gives you the flexibility to choose a loan amount and tenure that works best for you.
Interest Rates and EIR
OCBC ExtraCash Loan Cashback offers competitive interest rates starting from 5.42% p.a. The effective interest rate (EIR) is 12.11% p.a. This rate includes the processing fee of 2% of the approved loan amount. The interest rate and EIR are subject to change without prior notice.
Repayment Schedule
Repaying your OCBC ExtraCash Loan Cashback is easy and convenient. You can make repayments easily via online or mobile banking funds transfer, cheque deposit or cash deposit machine. The monthly payment is fixed, making it easier for you to budget your finances.
In summary, OCBC ExtraCash Loan Cashback is a great option for those who need fast cash. With flexible loan amounts and tenures, competitive interest rates and easy repayment options, this loan is designed to meet your needs.
Tip: Negotiate Fees, Potentially Save
While processing fees might be advertised as fixed, it’s always worth a polite inquiry about potential waivers, especially for more significant loan amounts. Banks often have some leeway in fee structures, and you might be surprised by a positive response.
Applying for OCBC ExtraCash Loan
If you are looking for a quick and easy way to get cash, the OCBC ExtraCash Loan might be the perfect solution for you. Applying for the loan is simple and straightforward, and you can do it online from the comfort of your own home.
Online Application Process
To apply for the OCBC ExtraCash Loan, you can visit the OCBC Bank website and fill out the online application form. The online application process is fast and easy, and you can complete it in just a few minutes.
To apply online, you will need to provide some basic information about yourself, such as your name, contact details, and employment status. You will also need to provide some financial information, such as your monthly income and expenses.
Required Documents for Application
When you apply for the OCBC ExtraCash Loan, you will need to provide some supporting documents. These documents include:
- A copy of your NRIC (front and back)
- Your latest computerised payslip or Tax Notice of Assessment (NOA)
- Your latest 12 months’ CPF contribution history statement (applicable for salaried employees only)
- Your latest 2 years’ Income Tax Notice of Assessment (applicable for self-employed individuals only)
Once you have submitted your application and supporting documents, you will receive a notification from OCBC Bank regarding the status of your application. If your application is approved, you can expect to receive the cashback in your account within a few working days.
Overall, applying for the OCBC ExtraCash Loan is a quick and easy process that can help you get the cash you need when you need it. With the convenience of online application and the support of OCBC Bank, you can rest assured that you are in good hands.
Costs and Fees
If you’re considering applying for an OCBC ExtraCash Loan, it’s important to understand the costs and fees involved. Here’s what you need to know:
Processing Fees
When you apply for an ExtraCash Loan, you’ll need to pay a processing fee. The fee varies depending on your income and the amount you borrow. For those with an income of $20,000 to $30,000 per year, the processing fee is $100. For those with an income above $30,000 per year, the processing fee is $200 or 2% of the approved loan amount, whichever is higher.
Late Payment and Other Charges
If you miss a payment or make a late payment on your ExtraCash Loan, you’ll be charged a late payment fee of $80. In addition, there is a restructuring fee of 3% of the outstanding loan amount if you choose to restructure your loan. If you make a partial repayment on your loan, you’ll be charged a penalty of 3% of the amount to be repaid (with a minimum repayment of $1,000). If you decide to pay off your entire loan early, you’ll be charged a penalty of 3% of the amount to be repaid.
It’s important to note that these fees and charges are subject to change, so it’s always a good idea to check the latest fees and charges on the OCBC website before applying for an ExtraCash Loan. Overall, the OCBC ExtraCash Loan offers a competitive interest rate and flexible repayment terms, making it a great option for those in need of extra cash.
Financial Management with ExtraCash Loan
If you are looking for a fast cash loan in Singapore, OCBC ExtraCash Loan can be an excellent option. With competitive interest rates, flexible repayment periods, and instant approval, you can easily manage your finances and meet your financial needs.
Calculating Your Loan with Loan Calculator
Before applying for ExtraCash Loan, you can use the loan calculator available on the OCBC website to calculate your monthly instalments. The loan calculator considers various factors such as loan amount, repayment period, and interest rates to give you an estimate of your total cost.
To use the loan calculator, you need to enter the loan amount, repayment period, and interest rate. The calculator will then display your monthly instalments and total cost. By using the loan calculator, you can plan your finances better and avoid any surprises.
Understanding Repayment Periods
ExtraCash Loan offers flexible repayment periods ranging from 12 to 60 months. You can choose a repayment period that suits your financial needs. The longer the repayment period, the lower your monthly instalments will be. However, keep in mind that a longer repayment period means paying more interest over time.
To manage your finances better, it is essential to choose a repayment period that you can afford. Consider your monthly salary and other financial obligations before choosing a repayment period. By choosing the right repayment period, you can avoid financial stress and manage your finances effectively.
In conclusion, OCBC ExtraCash Loan can be an excellent option for managing your finances in Singapore. By using the loan calculator and understanding the repayment periods, you can plan your finances better and meet your financial needs.
Additional Services and Options
Balance Transfer and Cash-on-Instalments
If you have an existing credit card debt, you can transfer your outstanding balance to your OCBC ExtraCash Loan account and enjoy lower interest rates. This is known as a balance transfer, and it can help you save money on interest charges. You can also choose to convert your credit limit into cash with OCBC’s Cash-on-Instalments option. This will allow you to borrow money at a lower interest rate than your credit card.
With OCBC ExtraCash Loan, you can enjoy a promotional interest rate of 0% p.a. for the first 3 months on your balance transfer or Cash-on-Instalments. After the promotional period, the interest rate will revert to the prevailing rate. You can choose to repay your balance transfer or Cash-on-Instalments over a period of 3, 6, or 12 months.
OCBC EasiCredit as an Alternative
If you prefer a more flexible borrowing option, OCBC EasiCredit might be a better choice for you. EasiCredit is a line of credit that allows you to borrow money as and when you need it. You can withdraw cash from your EasiCredit account using your ATM card, chequebook, or online banking. You will only be charged interest on the amount you borrow, and there is no fixed repayment period.
With EasiCredit, you can enjoy a promotional interest rate of 4.5% p.a. for the first year. After the first year, the interest rate will revert to the prevailing rate. You can apply for EasiCredit online or at any OCBC branch.
In summary, OCBC ExtraCash Loan offers additional services and options such as balance transfer and Cash-on-Instalments to help you manage your finances more effectively. If you prefer a more flexible borrowing option, you can consider OCBC EasiCredit as an alternative.
Promotions and Cashback Offers
If you are looking to get the most out of your OCBC ExtraCash Loan, you will be pleased to know that there are several promotions and cashback offers available to you.
One of the most exciting promotions currently available is the Cash-on-Instalments Promotion. With this promotion, you can enjoy a processing fee waiver for loan tenors of 36 months and beyond. Additionally, if your approved loan is above $10,000, you will receive 2% unlimited cashback. This promotion is valid until 30 June 2024, so act fast to take advantage of this great offer.
Another promotion that you may be interested in is the OCBC Personal Loan Promotion. With this promotion, you can enjoy interest rates as low as 3.5% p.a. (EIR 6.96% p.a.) and a processing fee waiver. This promotion is available for all new customers who apply for an OCBC Personal Loan online. The promotion is valid until 30 June 2024, so don’t miss out.
If you are an existing OCBC customer, you may be eligible for the OCBC Personal Loan Cashback Promotion. With this promotion, you can get up to $1,088 cashback when you take out an OCBC Personal Loan. To be eligible, you need to apply for a loan online and have a minimum loan amount of $10,000. This promotion is valid until 30 June 2024, so apply now to take advantage of this fantastic offer.
In conclusion, if you are looking for a great loan with promotions and cashback offers, the OCBC ExtraCash Loan is an excellent choice. With several promotions and cashback offers available, you can save money while getting the loan you need.
Important Notices and Transparency
Terms and Conditions
When applying for the OCBC ExtraCash Loan, it is important to read and understand the terms and conditions. These terms and conditions outline the loan amount, interest rate, repayment period, and any fees associated with the loan. You can find the most up-to-date terms and conditions on the OCBC website.
Important Information for Borrowers
Transparency is important to us at OCBC, and we want to make sure you have all the information you need before applying for the ExtraCash Loan. Here are a few key points to keep in mind:
- The maximum loan amount is $10,000.
- The processing fee is $200 or 2% of the approved loan amount, whichever is higher.
- The loan repayment period ranges from 12 to 60 months.
- The interest rate is fixed for the duration of the loan.
It is important to note that if you apply for the ExtraCash Loan online via the OCBC website or mobile app with a loan tenure of 36 months and above, you may be eligible for cashback of up to 2% of the approved loan amount during the promotion period. Please refer to the terms and conditions for more information.
At OCBC, we believe in transparency and want to ensure you have all the information you need to make an informed decision about borrowing. If you have any questions or concerns, please don’t hesitate to contact us.
Frequently Asked Questions
How can I apply for an ExtraCash Loan and receive cashback with OCBC?
To apply for an ExtraCash Loan and receive cashback with OCBC, you can visit the OCBC website and follow the step-by-step guide provided. You can also apply for the loan via MyInfo for instant approval and disbursement. If you are eligible, you can receive up to S$1,088 cashback on your loan.
What are the latest reviews for the OCBC ExtraCash Loan cashback offer?
As of April 10th, 2024, the annual interest rate for OCBC ExtraCash Loan stands at 5.42% with an effective interest rate of 12.11%. You can check the latest reviews for the OCBC ExtraCash Loan cashback offer on ROSHI.
What is the typical approval time for an OCBC ExtraCash Loan?
The typical approval time for an OCBC ExtraCash Loan is within one working day, subject to the bank’s approval criteria.
How can I check the status of my OCBC ExtraCash Loan application?
You can check the status of your OCBC ExtraCash Loan application by logging in to your OCBC online banking account. You can also contact the OCBC customer service hotline at 1800 363 3333 for assistance.
What are the prevailing interest rates for personal loans in Singapore?
As of April 10th, 2024, the prevailing interest rates for personal loans in Singapore range from 3.5% to 7.5%, depending on the loan amount and repayment period. You can check the latest interest rates on the OCBC website or other financial comparison websites.
Whom should I contact for queries regarding OCBC ExtraCash Loan cashback?
For queries regarding OCBC ExtraCash Loan cashback, contact the OCBC customer service hotline at 1800 363 3333 or visit the nearest OCBC branch. The customer service representatives will be happy to assist you with any questions or concerns.
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