Secured Line of Credit (MyLINE)
Convenient cash access with MyLINE by pledging your assets; enjoy the flexibility of drawing available cash when the need arises; easy access via chequebook, ATM Card and Maybank2u.com.sg
Key info
- No minimum income requirements. Credit limit is pegged to pledged assets, not income
- Incur interest only on actual amount borrowed
- Flexible repayment terms – any amount, any time
Need extra cash? With Maybank MyLINE, you'll have convenient access to extra cash by pledging your asset(s). You'll also enjoy the flexibility of drawing available credit when the need arises.
Benefits
- Simple application procedure: line of credit available upon approval
- No minimum income requirements. Credit limit is not pegged to income, but to the value of your pledged asset(s)^
- Easy cash access from your MyLINE facility via chequebook, ATM Card at ATMs in Brunei, Malaysia, the Philippines and Singapore, and Maybank2u.com.sg
- Incur interest only on the actual amount borrowed; save more than 50% on interest compared to unsecured credit facilities†
- Flexible repayment terms – any amount, any time
- Draw again from the available credit, even as you are repaying the utilised limit amount
- Continue to own your assets while accessing extra cash via MyLINE
| * | Interest rate varies according to the collateral provided and starts from Maybank Singapore's Prime Rate (PR) onwards. The PR is currently 5.25% p.a. The minimum monthly interest to be levied on any debit balance is S$20. EIR (Effective Interest Rate) starts from 5.25% p.a., subject to compounding if the monthly interest charges are not repaid in full |
| ^ | Depending on the type of asset you are pledging, the Quantum of financing which varies accordingly to different asset categories is up to 100%. |
†Save on interest with Maybank MyLINE!
(illustration table)
Interest rates | Outstanding loan | Interest p.a. | Interest savings | ||
(S$) | (%) | ||||
| Credit cards | 24% p.a. | S$10,000 | S$2,400 p.a. | S$1,875 | 78% |
| Unsecured credit | 16% p.a. | S$10,000 | S$1,600 p.a. | S$1,075 | 67% |
MyLINE | 5.25% p.a. | S$10,000 | S$525 p.a. | ||
Interest rate
From as low as Prime Rate*
Who can apply
- Singapore Citizens, Singapore Permanent Residents, Foreigners
- At least 21 years of age
- No minimum income requirement
Required documents
- Singapore Citizens, Singapore Permanent Residents – Singapore NRIC
- Foreigners – Passport
To find out more, click here (PDF). Fill in your personal information and asset(s) details to get an indicative valuation of your asset(s) at any of our 22 Branches in Singapore.
Important Notices
SaveUp Account for Loan Customer
Loans
Member-Get-Member Promotion: Recommend Maybank loans and be rewarded with vouchers of up to S$250
