Get Excited for Bank of China Personal Loans in Singapore

If you’re looking for a personal loan in Singapore, Bank of China might be a good option to consider. They offer a range of personal loan options with competitive interest rates and flexible repayment terms. In this article, we’ll take a closer look at Bank of China’s personal loan offerings, including eligibility requirements, application process, fees and charges, and additional features and benefits.

A person sitting at a desk, filling out paperwork for a Bank of China personal loan in Singapore. The bank logo is prominently displayed on the forms

Understanding Bank of China’s Personal Loan Options
Bank of China offers several personal loan options, including the BOC $martLoan, Debt Consolidation Plan (DCP), Mortgage Loans, and MoneyPlus Fund Transfer. The BOC $martLoan is a popular choice for those looking for a flexible personal loan with competitive interest rates. The DCP is a debt consolidation plan that allows you to consolidate all your outstanding debts into one loan with a lower interest rate. Mortgage Loans and MoneyPlus Fund Transfer are other options you might consider if you need a larger loan amount.

Eligibility and Application Process
To be eligible for a personal loan from Bank of China, you must be a Singapore citizen or permanent resident, between 21 and 65 years old, and have a minimum annual income of $20,000. You’ll need to provide proof of income, identification documents, and other supporting documents when you apply. The application process is straightforward and can be done online or in person at a Bank of China branch.

Key Takeaways

  • Bank of China offers several personal loan options with competitive interest rates and flexible repayment terms.
  • To be eligible for a personal loan from Bank of China, you must be a Singapore citizen or permanent resident, between 21 and 65 years old, and have a minimum annual income of $20,000.
  • Bank of China’s personal loan application process is straightforward and can be done online or in person at a Bank of China branch.

Understanding Bank of China’s Personal Loan Options

A customer sits at a desk, reviewing a brochure on Bank of China's personal loan options. The bank's logo is prominently displayed, and the customer appears engaged and interested in the information presented

If you are looking for a personal loan in Singapore, Bank of China (BOC) has a few options available. In this section, we will explore BOC’s MoneyPlus and $martLoan products.

BOC MoneyPlus

BOC MoneyPlus is a fund transfer loan that allows you to transfer funds from your credit line to your designated bank account. This loan is useful for emergencies, large purchases, or investments. With BOC MoneyPlus, you can enjoy a promotional interest rate of 0.99% p.a. for the first 6 months.

To be eligible for BOC MoneyPlus, you must be a Singaporean or Permanent Resident aged 21 years old and above. You must also have a minimum annual income of $30,000 and a credit line with BOC.

BOC $martLoan

BOC $martLoan is a personal loan that offers flexible loan amounts and repayment periods. You can borrow up to 4 times your monthly salary or $200,000, whichever is lower. The loan repayment period ranges from 1 to 7 years, depending on your preference.

What makes BOC $martLoan unique is that the interest rate decreases the longer your loan tenure is. This means that the longer you take to repay the loan, the lower your interest rate will be. However, do note that the interest rate is subject to change and is based on BOC’s prevailing rate.

To be eligible for BOC $martLoan, you must be a Singaporean or Permanent Resident aged 21 years old and above. You must also have a minimum annual income of $20,000 and a good credit score.

When taking up a personal loan with BOC, it is important to read and understand the terms and conditions. You should also ensure that you meet the requirements before applying.

Overall, BOC’s personal loan options offer flexibility and competitive interest rates. If you meet the eligibility criteria and have a good credit score, BOC’s personal loans may be worth considering.

Eligibility and Application Process

A customer fills out a loan application form at a Bank of China branch in Singapore. The employee reviews the documents and discusses eligibility criteria

If you are a Singaporean or Permanent Resident (PR), you must be at least 21 years old to apply for a Bank of China Personal Loan. Foreigners must be at least 25 years old. The maximum age for loan repayment is 65 years old for Singaporeans and PRs, and 60 years old for foreigners.

Criteria for Singaporeans and PRs

To be eligible for a Bank of China Personal Loan, you must have an annual income of at least $30,000. You must also provide your NRIC during the application process. If you are self-employed, you must provide your latest Income Tax Notice of Assessment.

Application Steps for Foreigners

Foreigners must have an annual income of at least $60,000 to be eligible for a Bank of China Personal Loan. You must provide your passport and Employment Pass during the application process. You must also provide your latest Income Tax Notice of Assessment if you are self-employed.

To apply for a Bank of China Personal Loan, you can visit any Bank of China branch in Singapore. You can also apply through SMS by sending “BOCMP space SLWS space your details” to 79777. The appl