SingSaver x CIMB #UnlockYourDreams Campaign

SingSaver and CIMB are launching “UnlockYourDreams” Campaign where you could stand a chance to win one of the below categories when you sign up for an eligible CIMB Personal loan through SingSaver:

Here are the prizes to be won:

Prizes (1 winner in each category):
Consolation (1 winner in each category)
‘Hustler Hannah Starter’ Category
  • Apple MacBook Pro 14” M3 Chip (worth S$2,320.25)
  • Apple iPhone 15 Pro Max 256GB (worth S$2,017.50)
  • AirPods Pro Gen 2 (worth S$365.70)
– Apple Watch Series 9 (worth S$604.50)
Apple iPhone 15 Pro Max 256GB (worth S$2,017.50)
‘Reno Ryan Home Starter’ Category
  • Samsung 43″ The Frame LS03D QLED 4K Art Mode Smart TV (worth S$2,199)
  • Dyson Purifier Cool™ Air Purifier TP07 (worth S$909)
  • Dyson V12s Detect Slim Submarine™ Complete (worth S$1,449)
– Morning Coffee Machine + 20 Capsules Bundle (worth S$684)
Samsung 43″ The Frame LS03D QLED 4K Art Mode Smart TV (worth S$2,199)
‘Wanderlust Wendy Travel Starter’ Category
  • A pair of Seedly Travel Insurance (worth S$60)
  • Apple iPad 10th Gen 10.9 Wifi 256 FB (worth S$925.90)
  • Apple Pencil USB-C (worth S$120.10)
– A pair of Economy Class round-trip tickets to Anywhere (worth up to S$3,000)
– AirWheel S3ES (S$1,480)
AirWheel S3ES (worth $1,480)

How to Qualify:

Step 1: Apply for CIMB Personal Loan via SingSaver in the link below from now till 13 June, where the loan amount is at least S$8,000 with a tenure of 3 to 5 years.

Terms and conditions apply

Step 2: Follow the link in the email sent to you and submit your participation via Rewards Redemption Form.

Step 3: Answer the contest question in the Rewards Redemption form and ensure that:

  • all fields related to the contest question are completed
  • Contest Question is answered in English within a 300-character limit
  • The more inspiring your dreams are, the better chances you have of winning

Step 4: Fulfill the specific eligibility product requirements. Contest winners will be announced on

SingSaver’s contest winners page

Overview:

This CIMB Personal Loan offers attractive features to help you manage your finances. Here’s a quick rundown:

  • Cashback Bonus: Get up to S$2,000 cash back when your loan is approved (see below).
  • Competitive Rates: Interest rates start as low as 2.80% per year (EIR 5.28% p.a.) for larger loans (S$10,000 and above). Rates are slightly higher for smaller loans.
    • 2.80% p.a. (EIR 5.28% p.a.) for loans S$10,000 and above,
    • Up to 5% p.a. for loans that are at least S$5,000, and above.
    • Higher 9% p.a. for loans less than S$5,000
  • Flexible Loan Terms: Choose a loan term between 1 and 5 years to fit your repayment needs.
  • Manageable Loan Amounts: Borrow between S$2,000 and S$200,000 depending on your income. (To qualify for above promotion, loan amount needs to be at least S$8,000 with a tenure of 3 to 5 years)
  • No Processing Fee: There’s no processing fee for loans of S$5,000 or more (a 1% processing fee applies to smaller loans).
  • Loan up to:
    • 2x monthly income (if your annual income is between S$20,000 to S$29,999)
    • 4x monthly income (if your annual income is between S$30,000 to S$119,999)
    • 8x monthly income, up to S$200,000 (if your annual income exceeds S$120,000)
  • Early redemption fee of 3% of outstanding principal, or S$250 – whichever is higher
  • Late payment fee of S$100

 

Eligibility:

  • Only Singapore Citizens or Singapore Permanent Residents (PRs)
  • Minimum annual income: S$20,000
  • Age: 21 – 70 years old

Interest and Tenure Chart:

Loan amount less than S$5,000
Loan amount S$5,000 – S$9,999
Loan amount less than S$10,000 – S$29,999
Loan amount S$30,000 and above
Tenure (Years)
Interest Rate (p.a.)
EIR (p.a.)
Interest Rate (p.a.)
EIR (p.a.)
Interest Rate (p.a.)
EIR (p.a.)
Interest Rate (p.a.)
EIR (p.a.)
1
9%
18.15%
5%
9.10%
4.00%
7.30%
4.00%
7.30%
2
17.46%
9.32%
7.50%
7.50%
3
16.96%
4.48%
8.38%
3.38%
6.38%
2.80%
5.31%
4
16.54%
8.33%
6.36%
5.30%
5
16.17%
8.26%
6.32%
5.28%

 

Sample Computation:

Loan Amount
S$10,000
Interest Rate
3.38% p.a. (EIR 6.38% p.a.)
Tenure
3 years
Processing Fee
0%
Total Interest Payable
3.38% p.a. x S$10,000 x 3 years = S$1,014
Total Repayment
S$11,014
Monthly Installment
S$306.00

 

Stacked Promotion: Receive the S$2,000 Cashback

CIMB is offering attractive cashback of up to S$2,000 should your loan be approved. To be eligible, approved loans have to be:

  • Three, four or five years in tenure
  • At least S$8,000 loan amount

Approved Loan Amount
Cashback Earned
S$8,000 – S$14,999
S$50
S$15,000 – S$49,999
S$300
S$50,000 – S$79,999
S$750
S$80,000 – S$149,999
S$1,000
S$150,000 and above
S$2,000

Conclusion:

While the CIMB Personal Loan offers enticing features, it’s crucial to approach borrowing responsibly. Avoid using personal loans for non-essential expenses. This loan can be a valuable tool for financing specific goals, such as home renovations or business investments, due to its competitive rates and potential cashback.

💳 Credit cards change their T&Cs every so often and it is difficult to stay updated. That’s why I created a Telegram Broadcast where you can receive timely bite-sized updates to get the most out of your spending.

💡 We believe in always paying our credit card bills on time and in full. It is only by doing that, can we fully maximise our credit card benefits.

Purchases made through links in this article may generate an affiliate commission that helps keep this site running. Found this post useful? Subscribe to our Telegram Channel for more updates!

lobangsis

Audz, your lobang sis shares personal finance to achieve happiness, prosperity and progress for us all.

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