50% off first-year premiums for GREAT Critical Protector
50% off first-year premiums for GREAT Critical Protector
Exclusive to Dependants’ Protection Scheme members from $0.21/day
Up to 15% off premiums for TravelSmart Premier

Take a policy loan

Over time, some of your policy may acquire cash value. To meet your short-term financial needs, you can take a loan of up to 92% of the policy's cash value. However, it is important to continue to pay your premium every month after taking a policy loan. You should also pay off your loan as soon as possible. Otherwise, you will exhaust your cash value and your policy may run into Automatic Premium Loan (APL). 

Ways to apply for a policy loan

  • Sign in to eConnect with Great ID or Singpass app to check your cash value and submit an online application.
  • Call your Great Eastern Financial Representative for assistance
  • Call us at 1800-248 2888 and speak to a Customer Service Officer. Your cheque will be ready within same working day for collection from our Customer Service Centre.
  • Fill up the policy loan application form and drop by our Customer Service Centre personally. 

Frequently asked questions

You can apply for a policy loan once your policy has cash value. The cash value will be available about two to three years after you have bought the policy. However, this does not apply to some plan types, such as Investment-Linked, Term and policies bought using CPF.

Our current interest is *5.5% per annum, calculated on a daily basis on the outstanding loan.

You may make full or part repayments of the loan at your convenience. However, you must continue to pay your premium to keep your policy valid. Otherwise, your policy may eventually lapse. As a guide, we suggest you repay your loan within a year or two.

You can pay by cheque or cash. Refer to the various payment options available. If you are using GIRO for your premium payment, you may also make repayment for your loan via the same GIRO account. The minimum loan repayment instalment is S$50. When the remaining loan balance is less than the instalment amount, the final repayment instalment will be the balance amount.

Download the GIRO form for loan repayment.

Yes. You must continue to pay your premiums to keep the policy in force. When any policy benefits (such as cash benefits or maturity value) are due to you, this will be used to offset your loan, before the balance is made to you.

You may log in to eConnect to request for a Policy Loan.

The maximum loan value is available via eConnect. With a secure password, you will be able to check your policy details, values or payment. Have you signed up for your GreatID password? If not, please click here to sign up.

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