The Standard Chartered CashOne Personal Loan is a competitive choice for fast access to cash. It features some of Singapore’s lowest starting interest rates at 1.08% per annum and an effective interest rate (EIR) from 2.09% p.a. Approved applicants may receive funds in as little as 15 minutes — ideal for those seeking speed and flexibility in their borrowing experience. This offer is especially attractive for those who prefer seamless online applications using their Singpass Myinfo.

The minimum annual income requirement for Singaporeans and PRs is $30,000, while foreigners must earn at least $90,000 yearly. Funds can be credited instantly into any active Standard Chartered account, or even to a non-SCB account with just a slight delay. Application and approval are handled digitally for added convenience, with no need to visit a branch.

How to apply: Step by step

• Check eligibility: Ensure you meet the income and identity requirements
• Apply online: Use your Singpass Myinfo for a fuss-free process
• Choose payout account: Pick an existing account or specify a non-SCB account for fund transfer
• Review and accept offer: Confirm terms, review repayment schedule, and accept the offer digitally
• Await disbursement: Receive funds within 15 minutes to SCB account or shortly after to others

Pros: What stands out

The primary benefit of CashOne is its fast approval and disbursement speeds, making it the perfect solution for urgent cash flow needs. Its competitive rates starting from 1.08% p.a. are among the lowest on the market, which is excellent for borrowers with strong financial profiles. The fully digital process saves time and eliminates paperwork, delivering convenience and ease.

Additional perks for new customers, as well as flexible amounts and repayment options, make this personal loan very accessible to a wide range of applicants seeking convenience and affordability in their loan journey.

Cons: Potential drawbacks

The minimum income requirements may place this offer out of reach for some, especially foreigners. Promotions are often limited to specific periods and subject to meeting bank criteria, so some applicants may not receive the lowest advertised rates.

Furthermore, applicants with weaker credit scores may receive higher interest rates or face rejection, as approval and rate offers are based on the individual’s creditworthiness.

Verdict: Should you apply?

The Standard Chartered CashOne Personal Loan stands out for anyone prioritising speed, competitive rates, and a straightforward application experience. It’s a reliable option if you qualify for the minimum income and desire instant access to funds, all at some of the lowest personal loan rates in Singapore today.