You are now leaving the Standard Chartered Bank (Singapore) Limited (“SCBSL”) website to access a third party website ("Third Party Website").

SCBSL shall not be liable for the handling of any information you may provide on the Third Party Website, or for any loss incurred in connection with your access to or use of the Third Party Website. SCBSL makes no warranties, representations or undertakings about the Third Party Website.


Change in Early Redemption Fee for Debt Consolidation Loan Accounts

With effect from 15 January 2019, the early redemption fee applicable to all Standard Chartered Bank (Singapore) Limited Debt Consolidation Loan Accounts (“Early Redemption Fee”) will be revised to S$250 or 5% of the outstanding principal, whichever is higher.

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. Click here for full Terms and Conditions which apply.

 A scenario to help you understand

The scenario below is for illustration purposes only and may differ depending on the individual’s account.

If your outstanding principal is $50,000 at the point of account closure, your Early Redemption Fee is,
Prior to 15 January 2019: On or after 15 January 2019:
3% x outstanding principal:

3% x $50,000 = $1,500

5% x outstanding principal

5% x $50,000 = $2,500

You must notify us if you wish to close your Debt Consolidation Loan Account or fully repay the Debt Consolidation Loan Account prior to the expiry of the instalment tenure. For clarity, partial redemption of the Debt Consolidation Loan Account is not allowed.

The following terms and charges will apply if you close the Debt Consolidation Loan Account or fully repay the Loan Amount: (a) we will calculate and notify you of the outstanding balance and the payment due date for the entire outstanding balance; and (b) you must pay the entire outstanding balance together with an Early Redemption Fee of S$250 or 5% of the outstanding principal, whichever is higher.

Frequently Asked Questions