Frequently Asked Questions
The EIR is higher than the nominal flat rate charged because flat rate computations calculate interest as a lump sum upfront and do not take into account the monthly principal repayments made throughout the loan period. Also note that the loan period affects the EIR even when the nominal flat rate remains the same.
The Standard Terms and Conditions governing Hire Purchase Agreements were updated on 10 Dec 2024. For the latest Terms and Conditions, please refer to the document here.
From 30 Jun 2025, an Access Code will be required for the bank to validate car ownership details for the following LTA Digital Services. This Access Code can be requested via LTA Vehicle-Related Digital Services using your Singpass.
- Enquire PARF/COE Rebate for a Registered Vehicle
Please provide this Access Code to our car partners when requested, for the bank to validate car ownership during loan application and/or loan disbursement stage.