How much do I need to repay for my Balance Transfer(s)?

With the exception for the final monthly instalment, the monthly instalment amount shall be 3% of the approved loan amount. You should repay the full amount of the monthly instalment as the Minimum Payment Due.

The formula to calculate the final monthly instalment:

Approved Loan Amount - Monthly Instalment Amount x (Number of months of the loan tenor for the particular Balance Transfer - 1)

For example, if you request a 3-months Balance Transfer with $10,000 as Approved Loan Amount, and the rate of Balance Transfer Processing Fee is 1.3%.

• Balance Transfer Processing Fee = $10,000 x 1.3% = $130
• Monthly Instalment (except for the final month)= $10,000 x 3% = $300
• Final Monthly Instalment = $10,000 - $300 x (3-1) = $9,400

Below is the simulation of the repayment amount of each instalment if all payment obligations are met and no additional interests are charged:

• 1st instalment =Monthly Instalment + Balance Transfer Processing Fee = $300 + $130 = $430
• 2nd instalment =Monthly Instalment = $300
• 3rd instalment = $9,400
• Total repayment amount = $430 + $300 + $9,400 = $10,130