If you need finance for any purpose, come and see us. Our policy is to assist members wherever and whenever we can in the best possible way. We aim to keep interest rates as low as we possibly can for members. Generally lending rates for different types of loans reflect the risk associated with each type of loan.
|Loan Quantum||A maximum of 6 months’ salary or $40,000 whichever is lower|
|Rates of Interest||6.5% flat rate per annum (EIR 11.68 % Pa 5 years)|
|Repayment Term||Up to 5 years|
|Processing Fees||2.5% flat|
|Eligibility (Applicant / Surety(s))||
|Photocopy of NRIC (Front & Back)||Yes||Yes|
|Latest Computerized Payslip||Yes||Yes|
|Letter of Employment (if <3 Months Employment)||Yes||Yes|
|Last 6 months CPF contribution history||Yes||Yes|
|Latest IRAS Notice of Assessment (NOA)||Yes||Yes|
|CBS - Enhanced Consumer Credit Report||Yes||Yes|
*Surety (ies) must be provided on a case to case basis and the number of sureties to be provided are subject to loan quantum and credit evaluation.
- All loans granted are within the discretion of SSBEC Co-op