What are the indicative repayments?

For repayments, the chosen method is fortnightly repayment schedule. You can view in the given table that displays the indicative repayment amount per $5,000 with different interest rates and during dissimilar years.

Effective Interest Rate Per Annum Year Per $5,000
8% 1 217.47
2 113.07
3 78.034
4 81.03
5 50.69
6 46.315
10% 7 41.505
8 37.935
12% 9 37.96
10 35.87

Fortnightly Repayment Amount

The above-mentioned table provides every detail. For instance, if a loan of $5,000 is obtained for one year then after every fifteen days the borrower will have to pay 217.47 SGD and this amount is exactly the 8% of $5,000 SGD. Similarly, if an amount of $5,000 SGD has been obtained for 7 and 8 years, then the interest rate will be 10% 41.505 or 37.935 SGD. Likewise, if the similar amount is borrowed for 9 or 10 years then the borrower will have to pay 37.96 or 35.87 SGD.

You can make a similar chart with $10,000, $20,000, $30,000, $40,000 and $50,000 and then you will have to add percentage according to the years of repayments.

However, the amount of repayment can differ or increase, if you would be unable to pay (Singapore  loans) on the set date. In that case, the bank will add additional interest in the mentioned amount.

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