DBS Kwong On announces availability of new revolving loan product

DBS Kwong On Bank said today it will launch its new revolving loan product, "cashline". Borrowers who draw the loans fully will enjoy halved interest rates for the 12 months and obtain supermarket cash coupons and mobile phone handset purchasing preference. In the first 12 months, the annual interest rates of the loans will be between 8% (P+1.5%) and 12% (P+5.5%), which means the actual interest rates will be between 9.52% and 13.96%. From the 13th month onwards, the annual interest rates will be between 16% and 24%, and the actual annual interest rates for the first 24 months will be between 13.42% and 19.95%. Borrowers of $200,000 to $500,000 will enjoy an annual interest rate as low as 8%.

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