Updated 21 August 2018
Get the latest Personal Loan interest rates for Singapore on MoneySmart.sg. See how personal loans compares against other banks and apply instantly online.
Edit Loan Details
| Citizenship Status | Singaporean / PR |
| Minimum Annual Income | $30,000 |
| Maximum Loan Tenure | 5 years |
| Processing Fee | No processing fee |
| Principal Loan Amount | $10,000 |
| Monthly Instalments | $316 |
| Interest Rate (per annum) | 4.55% |
| Loan Tenure | 3 years |
| Total Amount Payable | $11,365 |
| Total Interest Payable | $1,365 |
3.88%
Interest Rate (EIR 7.90% p.a.)
3 years
Loan Tenure
$310
Per Month
| Citizenship Status | Singaporean / PR |
| Minimum Annual Income | $20,000 |
| Maximum Loan Tenure | 5 years |
| Processing Fee | As low as 1% of the loan amount |
| Principal Loan Amount | $10,000 |
| Monthly Instalments | $310 |
| Interest Rate (per annum) | 3.88% |
| Loan Tenure | 3 years |
| Total Amount Payable | $11,164 |
| Total Interest Payable | $1,164 |
3.88%
Interest Rate (EIR 7.90% p.a.)
3 years
Loan Tenure
$310
Per Month
| Citizenship Status | Singaporean |
| Minimum Annual Income | $20,000 |
| Maximum Loan Tenure | 5 years |
| Processing Fee | As low as 1% of the loan amount |
| Principal Loan Amount | $10,000 |
| Monthly Instalments | $310 |
| Interest Rate (per annum) | 3.88% |
| Loan Tenure | 3 years |
| Total Amount Payable | $11,164 |
| Total Interest Payable | $1,164 |
4.80%
Interest Rate (EIR 9% p.a.)
3 years
Loan Tenure
$318
Per Month
| Citizenship Status | Singaporean / PR |
| Minimum Annual Income | $30,000 |
| Maximum Loan Tenure | 7 years |
| Processing Fee | $88 |
| Principal Loan Amount | $10,000 |
| Monthly Instalments | $318 |
| Interest Rate (per annum) | 4.80% |
| Loan Tenure | 3 years |
| Total Amount Payable | $11,440 |
| Total Interest Payable | $1,440 |
5.68%
Interest Rate (EIR 11.21% p.a.)
3 years
Loan Tenure
$325
Per Month
| Citizenship Status | Singaporean / PR |
| Minimum Annual Income | $30,000 |
| Maximum Loan Tenure | 5 years |
| Processing Fee |
| Principal Loan Amount | $10,000 |
| Monthly Instalments | $325 |
| Interest Rate (per annum) | 5.68% |
| Loan Tenure | 3 years |
| Total Amount Payable | $11,704 |
| Total Interest Payable | $1,704 |
MoneySmart lists personal loan products that range between a minimum of 1 to a maximum of 7 years. The effective interest rate (EIR) of loan products on our site range from 8.5% p.a. to up to 20.0% p.a. The EIR of your loan will be dependent on the loan you apply for as well as your personal financial needs.
For example, you would need to pay S$316/month for a S$10,000 personal loan with a loan tenure of 3 years. This would equate to a total payment of S$11,376 over 3 years. Please view each personal loan product in detail for a full breakdown of the interest rate chargeable, minimum and maximum loan tenure as well as processing fees (if applicable).
If you can't find an answer to your question below, you may visit the MoneySmart Forum.
A personal loan is an unsecured instalment loan that you can use for pretty much whatever you want. You can use it to finance a medical emergency, a family holiday or even that new laptop you’ve been eyeing. There are more specialized loan products available if you need to finance your renovation or education.
Here are some qualifying criteria you must fulfill:
You can borrow anywhere from 2-6x your monthly income up to a cap of $200,000.
The tenures for personal loans can range from 1 to 7 years. The longer your tenure the lower your monthly payments but the more interest you incur.
Some banks charge a fixed processing fee and other banks charge up to 3% of the approved loan amount.
These are the documents you will need to submit:
Banks revise their personal loan rates from time to time. Personal Loan rates usually range from 6%-10% per annum. Check MoneySmart.sg for the latest personal loan interest rates across all banks offering personal loans.
