Are you in need of extra cash for unexpected expenses or big purchases? Maybank CreditAble in Singapore offers a personal line of credit that can help you achieve your financial goals. With low interest rates and flexible repayment terms, Maybank CreditAble is a popular choice for many Singaporeans.
To understand Maybank CreditAble, it is important to know that it is a personal line of credit that allows you to borrow money as you need it, up to a pre-approved credit limit. This means that you only pay interest on the amount you borrow, not the entire credit limit. Maybank CreditAble also offers additional features such as a term loan and funds transfer, making it a versatile financial tool for various needs.
To apply for Maybank CreditAble, you must meet certain eligibility requirements and go through an application process. It is important to understand the interest rates and fees associated with Maybank CreditAble, as well as the repayment and borrowing terms. Additionally, Maybank CreditAble offers various additional features and services that you may find useful. Keep reading to learn more about Maybank CreditAble and how it can help you achieve your financial goals.
Key Takeaways
- Maybank CreditAble is a personal line of credit that allows you to borrow money as you need it, up to a pre-approved credit limit.
- To apply for Maybank CreditAble, you must meet certain eligibility requirements and go through an application process.
- Maybank CreditAble offers additional features such as a term loan and funds transfer, making it a versatile financial tool for various needs.
Understanding Maybank Creditable
What Is Maybank Creditable?
Maybank Creditable is a personal line of credit offered by Maybank Singapore. It is a revolving credit facility that allows you to borrow funds up to a certain limit, which can be used for various purposes. With Maybank Creditable, you can enjoy flexible repayments and access to funds whenever you need them.
Benefits of Creditable Personal Loan
Maybank Creditable offers many benefits to its customers. Some of the key benefits of Creditable Personal Loan are:
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Low promotional interest rates: Maybank Creditable offers low promotional interest rates, which can be as low as 3.28% per annum. This makes it an affordable option for those who need short-term financing.
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Flexible repayments: With Maybank Creditable, you can choose to make flexible repayments, which means you can repay the loan over a period of time that suits you. You can also choose to make fixed monthly instalments for up to 60 months.
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Credit line: Maybank Creditable provides you with a credit line, which means you can access funds whenever you need them. You can also transfer funds from your Maybank Creditable to any bank’s credit card, credit line, savings or current account.
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Easy access: You can access your Maybank Creditable funds via cheque book, ATM card and online banking.
Maybank Creditable is a great option for those who need short-term financing and want to enjoy flexible repayments. With its low promotional interest rates and credit line, Maybank Creditable can help you manage your finances better.
Eligibility and Application Process
If you’re a Singapore citizen or permanent resident, you may be eligible to apply for Maybank CreditAble. Before applying, ensure that you meet all the eligibility criteria to increase your chances of approval.
Who Can Apply?
To apply for Maybank CreditAble, you must be a Singapore citizen or permanent resident aged between 21 and 65 years old. Additionally, you must have a minimum annual income of $30,000.
How to Apply for Maybank CreditAble
The application process for Maybank CreditAble is straightforward. You can apply online or visit a Maybank branch. To apply online, visit the Maybank website and fill in the online application form. If you prefer to apply in person, visit a Maybank branch and fill in the application form there.
Required Documents
To complete the application process, you will need to provide certain documents. These documents include your identification card (IC) or passport, proof of income, and other personal details. Ensure that you have all the necessary documents before applying to avoid any delays.
To summarize, applying for Maybank CreditAble is a quick and easy process. Ensure that you meet the eligibility criteria, have all the necessary documents, and complete the application form accurately. With a low interest rate and flexible repayment options, Maybank CreditAble is a great way to fulfill your financial needs.
Interest Rates and Fees
If you’re interested in getting a line of credit from Maybank Singapore, it’s important to understand the interest rates and fees associated with their CreditAble product. Here’s what you need to know:
Understanding Interest Rates
Maybank CreditAble offers a competitive interest rate starting from 3.28% per annum (EIR from 6.00% per annum). It’s important to note that the interest rate you receive will depend on your credit score and other factors. The bank also offers promotional interest rates from time to time, so keep an eye out for those.
Fee Structure
Maybank CreditAble charges an annual fee of S$80. However, the bank waives the yearly fee for the first two years, making it an affordable option for short-term financing. In addition to the annual fee, there is a processing fee of 1% of the approved credit limit.
Promotions and Offers
Maybank Singapore offers various promotions and offers from time to time to attract new customers. For example, the bank is currently offering a promotional interest rate of 9% p.a. for the first year when you apply for Maybank CreditAble Term Loan online. You can also get S$100 cash credit