Banks Loan Rates
Hong Leong Finance – 1.99% (Limited period only and subject to approval by the bank)
OCBC – 1.98% (minimum loan is $15,000)
DBS – 1.99%
UOB – 2.28%
Maybank -2.48%
Maybank -3.75% (Limousine/car rental)
Standard Chartered – 2.48%
HL Bank – 2.28%
Tokyo Century – 2.48%
**Ballon Scheme by Tokyo Century** 3.78%
Hitachi Capital – 2.98%
Max. repayment period is 7 years. Terms and conditions apply. Rates are subject to changes by the bank.
In order to process the application, you will need to forward us these documents.
1. Sales Order / Vehicle Sales Agreement
2. Registered Owners IC Front and Back (required by banks/finance company)
3. Latest Notice of Assessment, 6 months of CPF Contribution History or 3 months computerized payslip
Please submit yours documents to clement@directautoloans.sg
All documents submitted will be kept strictly confidential.
The Monetary Authority of Singapore (MAS) rules allow you to borrow up to 70% of the purchase price of a car if its open market value is less than S$20,000. For more expensive cars, the permissible percentage is lower at 60%. Open market value refers to the original price of a car, and excludes certificate of entitlement charges, additional registration fees, and other government levies.
For a quick Calculation of Loans. Just key in the interest rates.