Personal Loan

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 11.79% P.a)
Repayment Term Up to 5 years
Processing Fees 2.5% flat
Eligibility (Applicant / Surety(s))
  • Singapore Citizen or Permanent Resident
  • Age for Applicant: between 21 to 65 years
  • Age for Surety(ies): between 21 to 60 years

 

Document Required Applicant Surety
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

Loan Calculator

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