Understanding Our 2.45% COE Renewal Promotion
A factual explanation of the contractual loan rate, promotional rebate and payment arrangement.
Public Notice
We are aware of questions circulating online regarding our 2.45% COE renewal promotion. We understand the importance of clarity when making a financing decision and would like to explain the arrangement in a direct and transparent manner.
The Two Figures Explained
| Figure | What It Represents | Provided By |
|---|---|---|
| 2.78% p.a. | The contractual loan rate stated in the official financing documents | The financing company |
| 2.45% p.a. | The promotional rate-equivalent after a separate rebate | Funded by us |
The financing company does not offer or approve the loan at 2.45% p.a.
The contractual loan rate remains 2.78% p.a.
How the Rebate Is Applied
- The financing application is assessed at the contractual 2.78% p.a. rate.
- The promotional rebate is calculated based on the approved loan amount and tenure.
- The applicable first instalment is paid on the customer’s behalf or reimbursed, according to the agreed arrangement.
- Any remaining rebate balance is transferred to the customer’s bank account.
What Customers Should Know
- The rebate is separately funded by us and does not alter the financing company’s loan agreement.
- Customers remain responsible for their contractual instalments until the relevant payment or reimbursement has been confirmed.
- Every customer may request an individual written calculation and payment status for verification.
Our Commitment
We do not amend, conceal or replace the financing company’s contractual rate.
We are committed to explaining the contractual rate, rebate calculation and payment arrangement clearly before a customer proceeds.
Questions About Your Application?
Contact our team to request your written rebate breakdown or confirm your payment status.
Financing applications are subject to the financing company’s assessment and approval. Promotional rebates are separately funded by us and are subject to the written terms provided for each approved case.