How it works:
Here’s an example of how much your monthly instalments will be, depending on the tenure selected. This example assumes a loan amount of $11,000 and an interest rate of 5.5% p.a.:
# The interest rate is calculated based on the approved loan amount of $11,000.
+ The effective interest rate (EIR) is calculated taking into consideration the applicable one-time-processing fee of 1.5% or minimum $100, whichever amount is higher, and based on the approved loan amount and the respective loan tenure.
^ Monthly instalment amounts are calculated based on a fixed monthly instalment payment option and are for illustration purposes.