Motorist Financial Services
$1,217.71 /mth
Interest Rate
3.98%
Min Loan Amount
$10,000
Max Loan Tenure
7 yrs
Used Car Loan,
$80,000 for 84 months
Used Car
$
84 months
Motorist Financial Services supports motorbike owners in Singapore by offering tailored in-house loans and partnering with leading banks to introduce an effortless Instalment Payment Plan (IPP) for COE renewal. Our program simplifies the process, breaking down the significant one-time payment into manageable monthly installments with flexible terms and a straightforward application. Prioritizing ease and accessibility, we aim to alleviate the financial strain associated with this essential aspect of motorbike ownership, ensuring a smoother COE renewal journey for all motorbike owners across Singapore.
Last Updated: 07/05/2024
Motorist Financial Services supports motorbike owners in Singapore by offering tailored in-house loans and partnering with leading banks to introduce an effortless Instalment Payment Plan (IPP) for COE renewal. Our program simplifies the process, breaking down the significant one-time payment into manageable monthly installments with flexible terms and a straightforward application. Prioritizing ease and accessibility, we aim to alleviate the financial strain associated with this essential aspect of motorbike ownership, ensuring a smoother COE renewal journey for all motorbike owners across Singapore.
Instalment Payment Plan (IPP)
Eligible Banks:
- DBS Bank
- OCBC Bank
IPP Financing Period: 6 months to 24 months
IPP Minimum Financing Amount: S$4,000
*Processing fees applies
Motorist Financial Services In House Loan
Financing Period: 1 to 7 years
Maximum Financing Period: Age of Vehicle + Financing Period = Not Exceeding 10 Years
Minimum Financing Amount (Bike) : S$4,000
Minimum Financing Amount (Vehicle): S$10,000
PHV LOAN PARF : 4.98%
PHV LOAN COE : 5.98%
Maximum Financing Amount: Up to 70% of purchase price or bank's valuation whichever is lower if OMV is lesser than or equal to S$20,000; or Up to 60% of purchase price or bank's valuation whichever is lower if OMV is more than S$20,000
Early Settlement Fee: An early settlement fee of 20% of Interest Rebate based on Rule of 78 will apply throughout the finance period for both Hire Purchase Act and Non-Hire Purchase Act cases
Early Settlement Penalty: 2% on the outstanding amount owed
Early Settlement Notification Period: 30 working days' prior written notice, or otherwise, payment 1 month's interest in lieu
*Processing fees applies