Disclaimer

This is to inform that by clicking on the hyperlink, you will be leaving sc.com/sg and entering a website operated by other parties.

Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting www.sc.com/sg


Proceed

How would you like to apply?

I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

*SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

*Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

I am an existing Standard Chartered Current/Checking/Savings Account holder

    How would you like to apply?

    I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

    *SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

    *Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

    Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

    I am an existing Standard Chartered Current/Checking/Savings Account holder

      Debt Consolidation Plan – Interest Rate as low as 3.48% p.a. (EIR from 6.33% p.a.)

      I want to consolidate
      Loan Amount
      S$
      Loan Period
      year(s)
      Monthly Repayment
      S$85.53
      Illustrative Interest Rate
      3.88% p.a.
      (EIR 7.67% p.a.)

      Note:Monthly Repayment and Illustrative Interest Rate displayed here is for reference only and is subject to credit approval

      Benefits
      • from
        3.48% p.a.

        Enjoy competitive interest

        rates (EIR from 6.33% p.a.)

      • receive up to
        S$500

        Cashback upon approval

      • save
        S$18K

        On interest charges/year

      * Relevant terms and conditions apply. Receive a Platinum Mastercard Credit Card with annual fee perpetually waived.

      Features

      Debt Consolidation Plan (DCP)

      Do you have multiple personal loans and credits cards to manage? With DCP, consolidate all your outstanding balances from multiple banks into a single loan – and at a lower interest rate too.

      Credit Card

      Receive a Platinum Mastercard® Credit Card with a credit limit2 equivalent to your monthly salary for your daily use (Credit limit is shared across all existing credit card).

      Manageable Debt Repayment

      Stretch your monthly repayments with a consolidated loan tenures from 3 to 10 years.

      Annual Fee Waiver

      Annual Fee perpetually waived for your Platinum Mastercard® Credit Card.
       
      Current Monthly Payment
      (To multiple banks)
      New Monthly Payment
      (with DCP)
      Monthly Payment S$2,000

      paid to multiple banks at prevailing interest rates

      S$1,187.95

      fixed instalment at a lower interest rate (based on 7-year loan)

      Interest Charges S$21,520/year*

      *Calculated based on EIR 26.9% p.a.

      S$2,826.89/year#

      #Calculated based on 3.48% p.a. (EIR 6.50% p.a.)

      Interest Savings (with DCP) S$18,693/year

      Debt Consolidation Plan Cashback Promotion: Receive up to S$500 Cashback

      APPROVED LOAN AMOUNT
      TENURE (YEARS)
      CASHBACK AMOUNT
      Less than S$60,000 3 – 10 S$300
      S$60,000 to less than S$80,000 3 – 10 S$400
      S$80,000 and above 3 – 10 S$500

      Wish to speak to us for more information? SMS LOAN< space >DCPINFO< space >NAME to 77222 for us to call you back.

      1The illustration above is based on the assumption that: (a) the total outstanding balance of S$80,000 is subject to an effective interest rate (EIR) of 26.9% p.a. charged by the other banks; (b) no new amounts are drawn down; (c) the total outstanding balance of S$80,000 is transferred to Standard Chartered Debt Consolidation Plan of a 7-year loan tenure and interest rate of 3.48% p.a. (EIR 6.50% p.a.) and interest is subject to compounding if not serviced. The interest rate offered to you is based on your personal credit profile as determined by us and may differ from the published interest rate and the interest rate offered to other borrowers.

      For illustration, EIR is calculated taking into consideration of S$199 joining fee and based on average loan amount of S$80,000 and all instalment payments are paid by their respective due dates during the 7-year loan tenure.

      2The credit limit for the Platinum Mastercard Credit Card issued with Standard Chartered Debt Consolidation Plan is equivalent to your monthly salary as per the bank’s assessment with your latest income document.

      Our Customer Terms, Current/Cheque/Savings Account and Time Deposit Terms, Personal Loan/Personal Line of Credit/Overdraft Terms, Credit Card Terms, Credit Card Tariff Sheet and Terms and Conditions Governing Debt Consolidation Facility apply.

      Sg debt consolidation
      Sg speed run woman water blue sky snow

      Application Eligibility

      • Annual income: Between S$30,000 and below S$120,000
      • Unsecured outstanding balances: More than 12 times of monthly income
      • Age: 21 – 65 years

      Application Documents

      • Copy of NRIC (front and back)
      • Copy of your latest Credit Bureau report
      • Latest bank statements of your outstanding unsecured credit facilities (such as credit cards)
      • Copy of latest income documentations

      For Salaried Employees and Partial Commission-Based Earners

      (i) Latest computerised payslip OR
      (ii) Latest 6 months’ CPF contribution history statement
      To be considered for a higher loan amount, please submit your latest Income Tax Notice of Assessment in addition to the above.

      For 100% Commission-Based Earners

      (i) Latest Income Tax Notice of Assessment OR
      (ii) Latest 3 months’ commission statement from a single employer

      For the Self-Employed

      Latest Income Tax Notice of Assessment

      Joining fee
      $199

      One time

      Default interest (Effective Interest Rate – “EIR”) – minimum
      26.9% p.a.

      If payment is not received in full by the due date, finance charges will be calculated on a daily basis at 0.074% from the respective transaction dates for all transactions to the date the payment is received.

      Annual fee (perpetually waived)
      $192.60 (including GST)

      For Standard Chartered Platinum Mastercard® Credit Card
      Please click here for more information on the Platinum Mastercard® Credit Card, including the applicable fees and charges (such as the finance charges and late payment fee)

      For more details on all other applicable fees and charges,  please click here.
      Early redemption fee
      $250

      or 5% of the outstanding principal, whichever is higher.

      Late Payment Charges
      S$100

      If we do not receive the minimum payment as per indicated on your statements by the due date, a late payment charge of $100 will be charged to your Debt Consolidation Plan facility and/or Platinum Mastercard® Credit Card respectively.

      Debt Consolidation is a debt refinancing program which offers a customer the option to consolidate all his unsecured credit facilities (such as credit cards and some types of unsecured loans) across financial institutions with 1 participating financial institution. Certain categories of unsecured loans are excluded from DCP, such as joint accounts, renovation loans, education loan, medical loans, and/or credit facilities granted for businesses or business purposes.

      Instead of paying varying amounts to different institutions each month, you just lump it all into a single monthly payment. There are three main benefits to doing this.

      • Easier tracking and planning: When you have so many disparate payments to make each month, it can be hard to keep track of them all. Consolidating your debt into one single payment means you know exactly how much you must pay each month.
      • Potentially lower interest rates: You can often get debt consolidation loans at a lower interest rate compared to your outstanding debts, especially if it comprises mostly credit card debts. This means that you usually end up paying a lesser amount overall.
      • Enforced financial discipline: If you are considering a debt consolidation loan, then you already know that you need to improve your financial discipline and spending habits. By consolidating all your debts into an easily trackable single monthly payment, financial discipline is easier to uphold

      To be eligible for DCP, you must:

      ● be a Singapore Citizen or Permanent Resident;
      ● earn between S$30,000 and below S$120,000 per annum
      ● have total interest-bearing unsecured debt on all credit cards and unsecured credit facilities with financial institutions in Singapore that exceeds 12 times of your monthly income
      ● be aged 21 – 65 years old

      We offer competitive interest rates with loan tenure from 3 – 10 years. The interest rate that we offer you is based on your personal credit profile as determined by us, and may differ from the published interest rate and the interest rate offered to other borrowers.

      To apply, click here

      If you wish to speak to us for more information, you can SMS LOAN< space >DCPINFO< space >NAME to 77222 for us to call you back.

      If you decide to pay off your loan early, there will be an early redemption fee of S$250 or 5% of your outstanding principal, whichever is higher.

      For example, you borrowed S$60,000 and after a few years, you are left with an outstanding balance of S$10,000 before your loan tenure is up, you will have to pay an additional S$500, as the 5% fee is greater.

      To refinance your existing DCP with SCB, click here

      Click here for more FAQs.

      BACK TO TOP