ANEXT CreditNow FAQ

Topic 1: CreditNow Loans

How do I repay my ANEXT CreditNow business loan?

CreditNow is a revolving credit facility. You only start making repayments after you draw down from your approved credit limit.

Each drawdown has a maximum repayment tenure of 12 months, which includes both principal and interest.

If you make multiple drawdowns, the repayments will be aligned to a single monthly payment date, based on the earliest drawdown. This means you will only have one repayment date each month for all outstanding drawdowns.

Your monthly instalment will be automatically deducted from your ANEXT Business Account by 11:30 PM (SGT) on the scheduled repayment date. Please ensure that there are sufficient funds in your account before the due date to avoid late payment or overdue charges.

You can view your repayment schedule at any time through ANEXT Online Banking.

Who is eligible to apply for ANEXT CreditNow?

CreditNow is available to Singapore-incorporated businesses (including sole proprietorships) that have minimally past 6 months of activities with ANEXT, subject to ANEXT Bank’s credit assessment and approval.

What is the repayment period for ANEXT CreditNow?

Each drawdown is repaid through equal monthly instalments over a 12-month period.

How much can I borrow with ANEXT CreditNow?

The credit limit approved for CreditNow is determined based on ANEXT Bank’s credit assessment of your business and its directors.

What fees apply to ANEXT CreditNow?

CreditNow does not charge any facility fee or early repayment fee. However, late payment or other applicable charges may apply in accordance with the Bank’s terms and conditions.

Check eligibility now and have a credit line ready whenever business needs arise.

How do I view the details of my loan?

Once your loan has been approved and disbursed, you’ll receive an email with instructions to access your loan details. If it’s your first time logging in, you’ll be prompted to do a one-time reset of your password. Thereafter you can log in to Online Banking or the Mobile Banking app, navigate to the Loans section and view your loan amount/limit and repayment schedule.

For security, ANEXT will never ask you to share your password or OTP.

Can my business take up multiple loans with ANEXT Bank?

No, a business can only apply and maintain one ANEXT Business Loan at the moment.

Topic 2: Pay-Per-Use Loans

How do I repay my ANEXT Pay-Per-Use business loan?

Pay-Per-Use operates similarly to a credit line with an approved loan limit that is valid for one year. You only start making repayments after you draw down from the approved limit. For each drawdown, you may select a repayment tenure of between 1 and 6 months.

Repayments are automatically deducted from your ANEXT Business Account by 11:30 PM (SGT) on each scheduled due date. To avoid late payment or overdue charges, please ensure that your account has sufficient funds before the repayment date.

You can view your repayment schedule at any time via ANEXT Online Banking.

Who is eligible to apply for ANEXT Pay-Per-Use business loans?

ANEXT Pay-Per-Use business loans are available to Singapore-incorporated businesses (including sole proprietorships), subject to ANEXT Bank’s credit assessment and approval.

Can I appoint the Keyman and Personal Guarantor for my company’s ANEXT Business Loan?

The Keyman is an individual making executive decisions on behalf of the business. Generally he/she could be the business owner, a partner or a major shareholder of the company. You can select the Keyman from the list of business stakeholder(s) extracted from your company’s Corppass during the loan application process.

By default, the Keyman will be the Personal Guarantor for the loan. However, you can choose to add other Personal Guarantors as long as the individual is above 21 years old. Please note that we require at least one Personal Guarantor to be a Singapore Citizen or Singapore PR.

What fees apply to ANEXT Pay-Per-Use business loans?

A one-time facility fee of up to 2% of the loan amount or S$200 (whichever is higher) will be charged upon successful acceptance of the ANEXT Business Loan.

For the Pay-Per-Use repayment option, there is no early repayment fee.

Other fees and charges may apply. Please refer to the the Bank’s fee schedule and terms and conditions for further details.

How do I view the details of my loan?

Once your loan has been approved and disbursed, you’ll receive an email with instructions to access your loan details. If it’s your first time logging in, you’ll be prompted to do a one-time reset of your password. Thereafter you can log in to Online Banking or the Mobile Banking app, navigate to the Loans section and view your loan amount/limit and repayment schedule.

For security, ANEXT will never ask you to share your password or OTP.

Can my business take up multiple loans with ANEXT Bank?

No, a business can only apply and maintain one ANEXT Business Loan at the moment.