Get Up to 6x of your salary with OCBC ExtraCash Loan


Whatever your next step in life, OCBC ExtraCash Loan helps you take it more easily. Whether you’re planning a wedding, furnishing a new home or taking the trip of a lifetime, you can do it more easily and save with OCBC ExtraCash Loan. Enjoy attractive interest rates and total financial control with these flexible loan features.
Receive a FREE SAMSUNG MOBILE PHONE* with loan approval of any amount
FIND OUT MORE  

BENEFITS

  • Extra cash at up to 6 times+ your monthly salary
  • Same-day approval~ at any OCBC branch for loan application
  • Pay interest only on the outstanding balances as it is calculated on monthly rest method.
  • Interest rates as low as 1.25% per month (15% p.a.)


CASH OF UP TO 6 TIMES+ YOUR MONTHLY INCOME

Get enough cash for all your needs with up to 6 times+ your regular monthly salary on OCBC ExtraCash Loan.
  • Get 6 times+ your monthly income if your annual salary is more than S$120,000
  • Get 4 times+ your monthly income if your annual salary is between S$30,000 to S$119,999
  • Get 2 times+ your monthly income if your annual salary is between S$20,000 to S$29,999

LOAN TENORS

With loan tenors from 1 to 5 years, it’s easy to find a tenor that best suits your monthly
repayment needs.
Loan Amount#Loan Tenor
 1 year2 years3 years4 years5 years
S$4,500
S$406S$218S$156S$125S$107
S$10,000
S$903S$485S$347S$278S$238

# Instalment amounts are calculated based on a regular instalment payment option with 15% p.a. applied interest. Figures simplified for illustration purposes and includes S$100 processing fee.

Find out more about your affordable monthly instalments on our two repayment schemes today! Click here

EXTRACASH LOAN APPLICATION

 APPLY AT ANY BRANCHAPPLY ONLINE NOW
Step 1
Meet our Loan or Service Ambassadors
at your nearest OCBC Branch.
Download and fill up the ExtraCash LoanApplication Form.
Step 2
Decide on your loan amount, tenor and repayment option.
Step 3
Indicate if you prefer the funds to be deposited into an existing OCBC
deposit account or a new account, which we will open for you.
Step 4
Submit the application form with
supporting documents at the
OCBC Branch.
Submit your CPF Statement online, and mail / fax the application form and supporting documents back to us.
Step 5
Same day approval~!
Receive an SMS notification on the outcome of your loan application
within the same day~!
All at your convenience!
Simply fax in the documents to
            6784 3791       /            6784 9241      , or mail it back
to us.

Same-day approval~ is available at all OCBC Branches from Monday to Friday. This is subject to submission of all mandatory documents by 4:30pm.

 REQUIREMENTS AND MANDATORY DOCUMENTS


Requirements
  • S$ 20,000 minimum annual income for Singaporeans and Permanent Residents
  • S$ 30,000 minimum annual income for Foreigners
  • Age 21 and above


Mandatory Documents
 
For salaried employees
Photocopy of NRIC (Singaporeans, PR) OR
Photocopy of Passport and Employment Pass with at least 6 months validity (Foreigners),
 AND
  • Last 6 months’ CPF Contribution History, OR
  • Latest computerized/electronic payslip and Latest Income Tax Notice of Assessment
For self-employed, commission based or variable income earners
Photocopy of NRIC (Singaporeans, PR) OR
Photocopy of Passport and Employment Pass with at least 6 months validity (Foreigners),
 AND
  • Latest Income Tax Notice of Assessment, OR
  • Last 12 months’ CPF Contribution History


 PRICING GUIDE

Interest will be calculated on a monthly rest method, whereby you only pay interest only on your remaining loan amount.
For applicants with an annual income of S$20,000 - S$29,999
Applied interest rate
19.8% p.a. (EIR as reflected below)
(Revised to 22%p.a. with effect from 5 March 2012 onwards)
Processing Fee
S$100
Late Payment Fee
S$60 (Revised to S$80 with effect from 1 April 2012 onwards)
Early Partial/
Full Repayment Fee
3% of repaid loan amount (S$1,000 minimum repayment)
Restructuring Fee
3% of outstanding loan amount

 For a loan of S$4,500, the Effective Interest Rate (which comprises the applied interest rate and Processing Fee) will be 29.83% p.a. (for one year), 27.29% p.a. (for two years), 26.41% p.a. (for three years), 25.97% p.a. (for four years), and 25.71% p.a. (for five years).


For applicants with an annual income of S$30,000 or more
Applied interest rate
15% p.a. (EIR as reflected below)
Processing Fee
S$100 (Revised to S$180 with effect from 5 March 2012 onwards)
Late Payment Fee
S$60 (Revised to S$80 with effect from 1 April 2012 onwards)
Early Partial/
Full Repayment Fee
3% of repaid loan amount (S$1,000 minimum repayment)
Restructuring Fee
3% of outstanding loan amount

 For a loan of S$10,000, the Effective Interest Rate (which comprises the applied interest rate and Processing Fee) will be 20.14% p.a. (for one year), 18.23% p.a. (for two years), 17.56% p.a. (for three years), 17.23% p.a. (for four years), and 17.03% p.a. (for five years).
 TERMS & CONDITIONS


~Same-day approval is available at OCBC Branches from Monday – Friday only. This is subject to submission of all mandatory documents as listed above. Please allow up to three working days after loan approval for the funds to be disbursed to your designated OCBC account. +For customers with an annual income of (i) S$20,000 – S$29,999, (ii) S$30,000 – S$119,999 or (iii) S$120,000 and above, the approved loan amount will be up to two times, four times or six times their monthly income respectively, as long as they do not have other unsecured credit facilities with OCBC Bank. Interest on the loan amount is calculated based on a monthly rest method. *Offer ends 15 May 2012 (the "Promotion Period"). The Samsung C170 mobile phone will be given out during the Promotion Period to all new ExtraCash Loan customer whose ExtraCash Loan account is approved within the Promotion Period (the "Successful Customers"). One gift per customer and this offer is valid while stocks last. The eligibility of each customer to receive a gift shall be determined at the absolute discretion of OCBC Bank. A redemption letter will be sent to each Successful Customers at his/her mailing address stated in the ExtraCash Loan Application Form within 2 months from the date of approval of the opening of each such customer’s ExtraCash Loan account. The gift is not exchangeable for cash or other items. OCBC Bank reserves the right at is sole and absolute discretion to replace any gift with any item(s) of similar value. OCBC shall not be responsible for the quality, merchantability or the fitness for any purpose or any other aspect of any gift. Notwithstanding anything herein, OCBC Bank shall not at any time be responsible or held liable for any defect or malfunction in any gift and/or for any loss, injury, damage or harm suffered or incurred by or in connection with the use of any gift by any person. OCBC Bank reserves the right to waive/vary/amend any of these terms and conditions without prior notice. The decision of OCBC Bank on all matters related to this offer shall be final and binding.
For more details, please see OCBC ExtraCash Loan

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