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Old 09-08-2018, 03:05 PM   #9121
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Hi guys, I have a noob question regarding loan.

Due to an emergency in family, we have to pay a sum of medical bill, so i swipe it to my OCBC credit card. I have been paying for months and only recently got to know of and just applied for the "OCBC Paywise" 12mth loan (0% interest with 1 time admin fee), I believe it got approved yesterday as I suddenly received a deposit of the loan amount into my account.

Sorry this is my first time taking a bank loan, so I'm not familiar with how it works. I believe the CSO on the phone told me that I am just required to pay a monthly fixed X amount to repay back for 12 consecutive months, but why is there an deposit in my bank from OCBC paywise, and what am i supposed to do with it? Because what I told the CSO on the phone was that I wanted the medical fees charged to my card to be paid in 12 months repayment, but now it seems like my loan increased with this sudden deposit from OCBC?

Sorry this is really noob question, but sincerely thank you for any clarifications.
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Old 09-08-2018, 08:09 PM   #9122
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Hi guys, I have a noob question regarding loan.

Due to an emergency in family, we have to pay a sum of medical bill, so i swipe it to my OCBC credit card. I have been paying for months and only recently got to know of and just applied for the "OCBC Paywise" 12mth loan (0% interest with 1 time admin fee), I believe it got approved yesterday as I suddenly received a deposit of the loan amount into my account.

Sorry this is my first time taking a bank loan, so I'm not familiar with how it works. I believe the CSO on the phone told me that I am just required to pay a monthly fixed X amount to repay back for 12 consecutive months, but why is there an deposit in my bank from OCBC paywise, and what am i supposed to do with it? Because what I told the CSO on the phone was that I wanted the medical fees charged to my card to be paid in 12 months repayment, but now it seems like my loan increased with this sudden deposit from OCBC?

Sorry this is really noob question, but sincerely thank you for any clarifications.
I believe this is re-financing scheme. Means u are supposed to pay your credit card balance with your loan proceeding and instead u are paying loan instalment to be cleared subsequently in fixed tenor

The advantage should be lower interest rate
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Old 10-08-2018, 10:28 AM   #9123
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Hi bro., MAY I know how long is your approved tenor ? Need info to see if better chance to apply 7 or 10 yrs to May bank . I prefer 10 yrs but worried reject. Please kindly advise asap.thanks in advance
I read few success story post applying for 7 yrs. not use itís helpful. Good luck!
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Old 10-08-2018, 10:30 AM   #9124
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we all understand you. we are same or worst then you.
Send your application to few banks and try? With your good credit rating, I think you setand a good chance.
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Old 10-08-2018, 10:31 AM   #9125
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my application was approved by HSBC with HH rating. It really depends. Could be also coz I've paid at least my minimum payment to HSBC every month without fail, so I guess they took that into consideration before approving my DCP
Thanks! How Long did they take for approval? Iím keeping my fingers crossed. Third bank Liao. If still rejected, Iíll have to continue paying those debts n get my credit rating improve.
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Old 10-08-2018, 11:22 AM   #9126
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I read few success story post applying for 7 yrs. not use itís helpful. Good luck!
Thanks for your advice. Actually I think 7 yrs is a better bet at this moment. Will try May bank 7 yrs first. Hope can get it approved fast so can focus on my work & family life, have to get over this big hurdle. Hope this nightmare will be over soon.I am really grateful for your time & replies. Thanks again.

Last edited by Rick1970; 13-08-2018 at 12:18 PM..
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Old 10-08-2018, 11:25 AM   #9127
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Thanks! How Long did they take for approval? Iím keeping my fingers crossed. Third bank Liao. If still rejected, Iíll have to continue paying those debts n get my credit rating improve.
All the best for your application. Good luck. Hope we are clear this hurdle soon. Tomorrow will be better
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Old 10-08-2018, 12:17 PM   #9128
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Hi guys, I have a noob question regarding loan.

Due to an emergency in family, we have to pay a sum of medical bill, so i swipe it to my OCBC credit card. I have been paying for months and only recently got to know of and just applied for the "OCBC Paywise" 12mth loan (0% interest with 1 time admin fee), I believe it got approved yesterday as I suddenly received a deposit of the loan amount into my account.

Sorry this is my first time taking a bank loan, so I'm not familiar with how it works. I believe the CSO on the phone told me that I am just required to pay a monthly fixed X amount to repay back for 12 consecutive months, but why is there an deposit in my bank from OCBC paywise, and what am i supposed to do with it? Because what I told the CSO on the phone was that I wanted the medical fees charged to my card to be paid in 12 months repayment, but now it seems like my loan increased with this sudden deposit from OCBC?

Sorry this is really noob question, but sincerely thank you for any clarifications.
Hi Zentape,

We came across your post, and would like to clarify that OCBC does not offer a "Paywise" loan. Is the loan perhaps with some other banks?

Should you need further assistance, please call our hotline at 1800 363 3333, or drop us a PM with more details.

^DG
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Old 10-08-2018, 03:57 PM   #9129
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Hi guys, I have a noob question regarding loan.

Due to an emergency in family, we have to pay a sum of medical bill, so i swipe it to my OCBC credit card. I have been paying for months and only recently got to know of and just applied for the "OCBC Paywise" 12mth loan (0% interest with 1 time admin fee), I believe it got approved yesterday as I suddenly received a deposit of the loan amount into my account.

Sorry this is my first time taking a bank loan, so I'm not familiar with how it works. I believe the CSO on the phone told me that I am just required to pay a monthly fixed X amount to repay back for 12 consecutive months, but why is there an deposit in my bank from OCBC paywise, and what am i supposed to do with it? Because what I told the CSO on the phone was that I wanted the medical fees charged to my card to be paid in 12 months repayment, but now it seems like my loan increased with this sudden deposit from OCBC?

Sorry this is really noob question, but sincerely thank you for any clarifications.

sounds like a balance transfer.... instead of a 0% equal installment plan..

balance transfer pay 1 time fee.. then pay minimum balance usually a few percent for the duration and must clear during the period or usual rate applies

0% installment plan, whole amount divided by the period, you just pay that sum for that month and until the period ends, usually no admin fee and usually no reward points given.. missed payment once, usual rate applies for late amount....
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Old 10-08-2018, 04:38 PM   #9130
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I believe this is re-financing scheme. Means u are supposed to pay your credit card balance with your loan proceeding and instead u are paying loan instalment to be cleared subsequently in fixed tenor

The advantage should be lower interest rate
Ahh I see, thank u so much for the advice.

Hi Zentape,

We came across your post, and would like to clarify that OCBC does not offer a "Paywise" loan. Is the loan perhaps with some other banks?

Should you need further assistance, please call our hotline at 1800 363 3333, or drop us a PM with more details.

^DG
Oh! Sorry, upon double checking the statement. I got the name wrong. It is "Cashwise" and not "Paywise". My bad.

So for this Paywise scheme, am I supposed to use the deposited amount to my account to pay out the balance of what I owe for the medical bill charged to the card, or that amount is to use for a period of 12 mths for the loan to slowly deduct?

Sorry for the confusion and look forward to your clarifications. Thank you so much!

sounds like a balance transfer.... instead of a 0% equal installment plan..

balance transfer pay 1 time fee.. then pay minimum balance usually a few percent for the duration and must clear during the period or usual rate applies

0% installment plan, whole amount divided by the period, you just pay that sum for that month and until the period ends, usually no admin fee and usually no reward points given.. missed payment once, usual rate applies for late amount....
I see, thanks alot for the insights.

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Old 10-08-2018, 07:36 PM   #9131
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Ahh I see, thank u so much for the advice.

Oh! Sorry, upon double checking the statement. I got the name wrong. It is "Cashwise" and not "Paywise". My bad.

So for this Paywise scheme, am I supposed to use the deposited amount to my account to pay out the balance of what I owe for the medical bill charged to the card, or that amount is to use for a period of 12 mths for the loan to slowly deduct?

Sorry for the confusion and look forward to your clarifications. Thank you so much!



I see, thanks alot for the insights.

Sent from Samsung SM-N950F using GAGT

Hi there,

Thank you for your interest!

If you will like to know more about our CashWise scheme, we can arrange for our service executive to call you.

Do share your contact number with us via PM.
Thank you.

^CC
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Old 10-08-2018, 08:51 PM   #9132
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MY DCP GOT APPROVED! So happy. my rating was HH, got rejected by a lot of banks, then recently become GG, so I went to try applying at UOB, and it got approved within 5 days. SO HAPPY! For those who are still trying don't give up! Just keep trying to improve your rating.

My credit rating is GG, owing amount is around $44K, month salary $3100.
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Old 11-08-2018, 01:50 PM   #9133
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I received a msg from HSBC stating my Dcp had been approved. Felt relieved so how long will it take for them to reimbursed the funds to other banks?
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Old 12-08-2018, 04:59 PM   #9134
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you are lucky but is good. At least the banks wont be chasing you, just have to keep on the repayment schedule.
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Old 13-08-2018, 03:07 PM   #9135
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Hello all, i cleared my debt consolidation plan on 3rd August but my credit application is still under suspension. Should i contact financial instituion to lift my suspension or CBS ? Any bro can help?
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