Noob Question on Personal Loan

[13nc13ryan]

Hi Guys, i was browsing Personal Loan for fun and was looking at UOB Personal Loan and was wondering what’s the catch for people who borrow 10k for 24 months loan tenure and they give maximum cash rebate of $3288. Wont they kinda lose out or something?

OCBC also have capped at $3,300 if you do loan tenure for 36 months. Cant seem to understand why they so nice LOL

 

[Trazora]

Hi Guys, i was browsing Personal Loan for fun and was looking at UOB Personal Loan and was wondering what’s the catch for people who borrow 10k for 24 months loan tenure and they give maximum cash rebate of $3288. Wont they kinda lose out or something?

OCBC also have capped at $3,300 if you do loan tenure for 36 months. Cant seem to understand why they so nice LOL

lol. the processing fee+interest is definitely higher than the rebate

For uob it is 1.5% rebate on loan amount $10000 to $49999, while the interest is 3.4% p.a. for min 2 years tenor

 

[Shion]

Dont worry, as they have done their maths first before making such offers. The EIR are now higher.

 

[havetheveryfun]

Hi Guys, i was browsing Personal Loan for fun and was looking at UOB Personal Loan and was wondering what’s the catch for people who borrow 10k for 24 months loan tenure and they give maximum cash rebate of $3288. Wont they kinda lose out or something?

OCBC also have capped at $3,300 if you do loan tenure for 36 months. Cant seem to understand why they so nice LOL

for UOB is S$3,288, or 2.5% of Approved Loan Amount*.
for OCBC is 2% cashback

so if u apply 10k, you only getting $250 or $200 la.. where so good get till $3k.. $3k is the cap if u apply for a big loan.