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   BOC Singapore >> Information >> Type of Charges

MoneyPlus Charges


 
Product Name BOC MoneyPlus
Interest charges MoneyPlus Line of Credit

For applicants with annual income from S$20,000 to S$29,999:
Applied rate - 2.38% per month
Effective interest rate - 28.55% per annum, minimum charge of S$10

For applicants with annual income of S$30,000 and above:
Applied rate - 1.9% per month
Effective interest rate - 22.8% per annum, minimum charge of S$10

Interest shall be charged on a daily basis from the date of transaction, subject to a minimum of S$10 per month on the whole balance, including any subsequent debit entries, until payment is credited, and on the reduced balance thereafter until full settlement of the whole balance outstanding.

MoneyPlus Term Loan

For applicants with annual income from S$20,000 to S$29,999:
12 months tenure - 6.38% p.a. (E.I.R.: 19.46% p.a.) OR
24 months tenure - 7.38% p.a. (E.I.R.: 17.89% p.a.) OR
36 months tenure - 8.68% p.a. (E.I.R.: 18.77% p.a.) AND
Processing fee at 5% of loan amount or S$75 applies, whichever is greater.

For applicants with annual income of S$30,000 and above:
12 months tenure - 6.38% p.a. (E.I.R.: 14.58% p.a.) OR
24 months tenure - 7.38% p.a. (E.I.R.: 15.40% p.a.) OR
36 months tenure - 8.68% p.a. (E.I.R.: 17.07% p.a.) AND
Processing fee at 2% of loan amount or S$75 applies, whichever is greater.

Minimum monthly payment 3% of the monthly balance outstanding, plus any outstanding Minimum Payment Sum or S$50, whichever is greater.
Late payment charges 2% of minimum payment sum or S$100 per month, whichever is higher;  if minimum monthly payment is not made by due date
Annual membership fee S$100
Cash advance fee S$20 or 6% of amount withdrawn, whichever is greater.
Returned Funds S$40 per occasion for any returned cheques or GIRO payment
Over Limit Fee If the monthly outstanding balance exceeds the Credit Limit due to fees, interest and charges (including late payment charges) or etc as the case may be, relating to the use of the account, an overlimit fee of S$40 shall be charged.
Payment hierarchy Payment made to the MoneyPlus cardmember's account will be settled in the following order, with 1 being the highest priority for settlement:
1. MoneyPlus Term Loan  
2. MoneyPlus Line of Credit
3. MoneyPlus Fund Transfer
Lost/stolen card liability The Cardmember shall not be liable for any transactions carried out after the Bank has been notified of the loss/theft/unauthorized use of the Card. However, the Cardmember shall continue to be liable for all authorised or unauthorised card transactions effected with the use of the PIN made even after the notification is received by the Bank of the loss/theft/unauthorised use of the PIN. Report loss immediately by calling Customer Service Hotline: 1800 338 5335

There may be circumstances in which you have to pay other fees. See the full list of terms and conditions:

http://www.bankofchina.com/sg/bocinfo/bi5/201406/t20140630_3560841.html

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