Standard Chartered offers great personal loan




This program has been terminated by Standard Chartered.Standard Chartered CashOne

Renovation is one of the most expensive expenditure that one can incur in their life time. However, not everyone is fortunate to be able to afford the cash for their renovation payment. One of the most common way to afford the renovation is renovation loan. However, we know that there is a limit (most limit are set at $30,000) to how much we can borrow for renovation from most banks. If you have been reading my blog, you will know that a decent renovation usually cost more than that. In today’s post, I am going to talk about the personal loan from Standard Chartered Bank that can help you to achieve your dream home.

Who is suitable for this loan?

1) Homeowners who find renovation loan insufficient for them to pay for their Interior Designer’s services. Meaning the homeowners need more loan but the bank is unable to provide. For example if the renovation amount to your ID is $40,000 but your maximum loan amount from the renovation loan is $30,000. You can apply for the personal loan from Standard Chartered Bank to make up for the $10,000 difference.

2) Homeowners who need more cash to pay for home electronics, curtains, furnitures, bath and light accessories. These items are usually paid in cash or by credit card. Most homeowners are usually not prepared when it comes to payment for accessories. They are only prepared for their renovation amount to the ID and nothing else. This is especially true for first timer.

This program has been terminated by Standard Chartered.

3) Anyone who needs short term cash on hand for whatever reason they have.

Maximum loan amount

Maximum loan amount is 4x your monthly income (maximum $200,000). This amount is usually lesser than the renovation loan amount which allows borrowing of up to 6x your monthly income.

  • Annual income of $30,000 and above: Maximum loan is 4x your monthly income (CashOne + Platinum Credit Card)
  • Annual income of $20,000 to $29,999: Maximum loan is 2x your monthly income (CashOne Only)

Loan interest rate

The interest rate can range from 6.88% per annum to 10.88% per annum depending on the loan amount and loan tenor (loan repayment period). Larger loan amount and longer loan tenor will result in lower interest rate per annum. This interest rate is published on the Standard Chartered Bank website (See under CashOne).

However, Standard Chartered Bank is providing special rate for Vincent Interior Blog’s readers. You might be able to get interest rate as low as 3.88% depending on the your credit rating with the credit bureau. There might be some borrowers who might fail to meet this criteria and hence unable to get the preferential rate. The bank will seek approval for the preferential rate first but if borrower is not comfortable to proceed he can choose not to. In another words, if you have good credit rating, your interest rate will be lower.

Interest rate is correct on the date of posting but is subject to change without prior notice by the bank.

This program has been terminated by Standard Chartered.

Other fees or charges

  • Annual fee: $199 on the first year and $50 on the second year till expiry of instalment tenor ($50 annual fee waived if all payment is received by payment due date for the past 12 months). In another words, If you always pay on time, there will be no annual fee except for the first year.
  • Early redemption fee: $250 or 3% of the outstanding principle, which ever is higher.
  • Change of tenor: $50 per change.
  • Default interest (payment is not received by payment due date twice within 6 consecutive months): 4% p.a. will be added to the original EIR on your entire CashOne outstanding balance. This revised EIR will be reinstated to the original EIR if payment due is made in full by payment due date for 6 consecutive months.
  • Late payment: $60 will be charged if minimum payment is not received by the due date. If the instalment amount payment is not received on or before the due date in full and a balance is carried forward from the relevant statement, finance charges will be calculated on a daily basis at the EIR of 24.455% per annum (minimum).

Free gifts

Standard Chartered Bank offers many voucher and free gift upon loan approval.

  • Isetan $100 voucher
  • Approval loan amount ($30,000 and above) with loan tenor 36, 48 or 60 months: Canon EOS 1100D Kit EF S18-55 IS II worth $799
  • Approval loan amount ($13,000 to $29,999): Samsung GALAXY Tab 3 (7.0″) WiFi worth $298
  • Approval loan amount ($5,000 to $12,999): American Touter DC Superlite II Spinner 66cm Expandable worth $120

Free gift is correct on the date of posting but is subject to change without prior notice by the bank.

This program has been terminated by Standard Chartered.


You must be aged between 21 and 65 with a minimum annual income of:

  • $20,000 for Singapore citizens and permanent residents
  • $60,000 for foreigners with an Employment Pass
  • Employment Pass holders
    • Foreigners must be holders of P1, P2 or Q type Singapore Employment Passes
    • Q Pass holders must have minimum 1-year validity remaining on their passes

My reviews and advises

  1. Apply for Standard Chartered Bank CashOne loan only after you have gotten the renovation loan because the interest rate from renovation loan is lower. There are also banks that charged very high interest rate for renovation loan, so please take note on that. The current lowest renovation loan interest rate as of today is 2.88%. Please see my previous post on Tips on Singapore renovation loan for more information.
  2. I personally think that is loan is very useful for accessories payment because homeowner will need to make payment by cash for most of them.
  3. Do make sure that you make prompt payment because the additional cost or penalty can be substantial.
  4. There is no restriction on how you use this money as compared to renovation loan. You can buy anything you want (cash is on your hands) while the money from renovation loan is directly transferred to them (You do not get to see the money).
  5. In the end, I think this loan is quite good because it allows borrower to borrow at a lower interest rate (preferential rate) for those borrowers with good credit rating.

This program has been terminated by Standard Chartered.

Benefits of applying Standard Chartered CashOne loan from Vincent Interior Blog

  • Preferential interest rate (as low as 3.88%) subject to your credit rating with the credit bureau.
  • Additional free “cash gift” on top of all the free gifts from the bank. After the bank’s approval, the banker will let me know and I will get back to your regarding the free “cash gift”. The free “cash gift” will start from $50 depending on how much is borrowed. You will not get this special benefit elsewhere!
  • Just fill in the simple form below and a friendly Standard Chartered Banker will contact you shortly on your application. You can be sure that you are getting the banking best service that I personally vet thru. Do email me if you face any problem or issues.

This program has been terminated by Standard Chartered.

Blog about Interior Design, renovation and home improvement.


2 Responses to “Standard Chartered offers great personal loan”

  1. egudgal

    Mar 23. 2015


    Am i eligible to take this loan if i just started working, reached 1st month?

    Reply to this comment

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