ezyCash is an instalment loan that offers you a loan amount of up to $200,000 or four times your monthly income upon approval.
| Annual income of $30,000 and above |
Annual income of $20,000 to $29,999 |
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Choose from one of the 5 different loan tenors to repay your loan. Either 12, 24, 36, 48 or 60 months.
| Early redemption fee | 5% of outstanding principal or $250, whichever is higher |
| Annual fee (first year) | $199 (deducted from approved loan amount) |
| Annual fee (from second year until expiry of loan tenor) | $50, waived if all instalment amount payments are received in full by the payment due date for the past 12 months |
| Late payment charges | $50 for balances of up to $3,000 $60 for balances of $3,000.01 and above |
| Finance charges | Effective interest rate of 24.455% p.a. If instalment amount payment is not made in full by the due date, finance charges will be calculated on a daily basis on the outstanding balance of the instalment amount from the statement date. |
| Default interest | 4% p.a. will be added to the original effective interest rate ("EIR") on outstanding principal, if the instalment amount payment is not received by the payment due date in full twice within any consecutive 6 months period. The revised EIR will be reinstated to the original EIR if the instalment amount payment is received by the payment due date in full for 6 consecutive months. |
| Change of tenor | $50 per change |
Repayments made more affordable and easier through fixed monthly instalments.
| Loan tenor | Loan amount ($) | |||||
|---|---|---|---|---|---|---|
| 3,000 | 4,000 | 8,000 | 10,000 | 15,000 | 20,000 | |
| 1-year | 281 | 375 | 738 | 923 | 1,346 | 1,785 |
| 2-year | 156 | 208 | 404 | 505 | 719 | 950 |
| 3-year | 115 | 153 | 281 | 351 | 510 | 668 |
| 4-year | 95 | 127 | 226 | 283 | 407 | 530 |
| 5-year | 83 | 111 | 192 | 240 | 344 | 434 |
For illustration purposes, the calculation is rounded up/down to the nearest dollar.
All you need is a minimum annual income requirement of $20,000 (equivalent to $1,667 per month) to qualify.
Minimum annual income requirement for foreigners is $60,000
Your approved loan amount will be credited directly to your designated bank account, upon approval.
| Loan tenor | Approved loan amount ($) | |||||||
|---|---|---|---|---|---|---|---|---|
| $20,000 and above | $19,999 - $12,000 | $11,999 - $5,000 | $4,999 and below | |||||
| Interest rate (% p.a.) |
EIR1 (% p.a.) |
Interest rate (% p.a.) |
EIR2 (% p.a.) |
Interest rate (% p.a.) |
EIR3 (% p.a.) |
Interest rate (% p.a.) |
EIR4 (% p.a.) |
|
| 1-year | 12.88 | 14.15 | 13.88 | 16.44 | 19.20 | 24.09 | 22.28 | 32.33 |
| 2-year | 12.88 | 13.55 | 13.88 | 15.24 | 19.20 | 21.82 | 22.28 | 27.71 |
| 3-year | 12.38 | 12.84 | 13.58 | 14.52 | 15.88 | 17.68 | 22.28 | 26.10 |
| 4-year | 12.38 | 12.74 | 13.58 | 14.31 | 15.88 | 17.28 | 22.28 | 25.28 |
| 5-year | 10.88 | 11.17 | 13.28 | 13.88 | 15.38 | 16.53 | 22.28 | 24.80 |
EIR: Effective Interest Rate, calculated taking into consideration the first year annual fee of $199
For illustration, EIR is calculated based on:
1 average loan amount of $30,000
2 average loan amount of $15,000
3 average loan amount of $8,000
4 average loan amount of $4,000
Receive a free Platinum Visa Credit Card with a 5-year annual fee waiver if you are earning an annual income of $30,000 and above.
