SG Home > Loans > Auto Loans > Flat Add-on Hire Purchase Act Loan

Fixed monthly instalment
This hassle-free loan lets you pay a fixed monthly instalment throughout tenure.

Fixed interest rates
The key feature of this loan is the fixed interest rate, calculated on a flat add-on basis, with the same amount to be paid every month. This makes it easier for you to plan and forecast your expenditure.

Benefits
With interest rate and instalment amount fixed, you donít have to worry about interest rate fluctuations during the period of your tenure. Furthermore, we offer competitive rates to ensure you get the best deal possible.

Repayment period
Whether your car is new or used, this loan gives you the option of a repayment period of up to 7 years. During the tenure, if you decide to pay off your loan, rebates on your interest will be calculated based on the Sum of Digits method.

Eligibility
If your car costs less than $55,000 (excluding COE), this loan is for you, as it is governed by the Hire Purchase Act. For late payments, overdue charges are calculated based on the Average Prime Rate of the Big Four Local Banks + 3% over unpaid instalments.

You can do a simple calculation to work out how much your monthly repayment would be by using our on-line Flat Add-on Calculator.

If this loan sounds like the one for you, please contact our Auto Services Providers now, or e-mail us to find out more.
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