Best Personal Loans with Low Interest Rates & Fast Approval in Singapore 2025

Looking for the lowest personal loan interest rates in Singapore? Find & compare today! Read More
10,000 personal loan Paid over 1 year
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We found 21 Personal Loans for you!
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GXS FlexiLoan

Per Month ²

S$857

MoneySmart Exclusive
Low Rates, No Fees, Flexible Borrowing!

GXS FlexiLoan

Interest Rates ¹
EIR: From 3.47% p.a.
From 1.88% p.a.
Total Amount Payable
S$10,288
Processing Fee ²
S$0
Per Month ²
S$857

[FLASH DEAL | Up to S$1,700 Cash | Lower Interest Rate Promo]
Get up to S$500 CASH BONUS on top of up to S$1,200 Cash via PayNow or attractive gifts worth up to S$1,499 (Apple 13-inch MacBook Air) and get them in AS FAST AS 2-3 MONTHS when you apply for a min. loan of S$8,000!
 
PLUS from 21 May - 31 July 2025, enjoy 1% OFF your Interest Rate (awarded in the form of cashback) when you apply for a S$10,000 loan with 12 month tenure with the code MSDEAL! T&Cs apply.

Valid until 31 Jul 2025 - See more details below
Apply Now
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Standard Chartered CashOne

Per Month

S$849

MoneySmart Exclusive
Attractive Gifts! | STACKABLE Online Promo

Standard Chartered CashOne

Interest Rate
EIR*: From 3.63% p.a.
From 1.90% p.a.
Total Amount Payable
S$10,190
Processing Fee
S$0
Per Month
S$849

Choose from up to S$1,200 Cash via PayNow or gifts such as the Apple 13-inch MacBook Air (worth S$1,499), Apple 11-inch iPad Air 128GB (worth S$899), Sony PS5 (SLIM) Digital Edition (worth S$669) and more! T&Cs apply
 
[STACKABLE SCB Pinball Sure Win Promotion]
Apply for an eligible SCB Personal Loan and unlock sure-win prizes like a Paris Getaway for Two (flights, hotels and iconic experiences), Samsonite luggage, FairPrice/ Klook vouchers, and more worth S$12,000 or more! T&Cs apply.

Valid until 27 Jul 2025 - See more details below
Apply Now
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Trust Instant Loan

Per Month

S$850

MoneySmart Exclusive
LOAN APPROVAL IN 60 SECONDS!

Trust Instant Loan

Interest Rate*
EIR: From 3.80% p.a.
From 1.99% p.a.
Total Amount Payable
S$10,199
Processing Fee
S$0
Per Month
S$850

Get up to S$1,200 Cash via PayNow or up to 14,335 SmartPoints (which you can use to redeem gifts like an Apple iPhone 16 Plus, Apple iPad Air, Sony PS5 (SLIM) Digital and more on our Rewards Store!) T&Cs apply.

PLUS get S$10 FairPrice E-Vouchers from Trust when you sign up with the referral code MONEYSMT. Valid for New-To-Trust customers only. T&Cs apply.

Valid until 31 Jul 2025 - See more details below
Apply Now
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UOB Personal Loan

Per Month

S$849

MoneySmart Exclusive
FASTEST FULFILMENT | AS FAST AS 4 WEEKS*

UOB Personal Loan

Interest Rate*
EIR: From 3.40% p.a.
From 1.85% p.a.
Total Amount Payable
S$10,185
Processing Fee
S$0
Per Month
S$849

[FASTEST GIFT FULFILMENT]
Get up to S$1,200 Cash or attractive gifts worth up to S$1,399 like an Apple iPhone 16 Plus 128GB in AS FAST AS 4 WEEKS, when you apply for UOB Loan. T&Cs apply.

Valid until 31 Jul 2025 - See more details below
Apply Now
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GXS FlexiLoan (Balance Transfer)

Per Month

From S$100

MoneySmart Exclusive
No lock-in period

GXS FlexiLoan (Balance Transfer)

Interest Rate ¹
EIR : 4.13% p.a
0% p.a.
Total Amount Payable
S$10,000
Processing Fee ²
From 1.35%
Per Month
From S$100

[FASTEST GIFT FULFUILMENT}
Get up to S$250 Cash via PayNow or an Apple AirPods Pro 2 (worth S$349) in AS FAST AS 4 WEEKS* when you apply for a GXS Balance Transfer loan with a min. of S$8,000 with a min loan tenure of 10 months. T&Cs apply.

Valid until 31 Jul 2025 - See more details below
Apply Now
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CIMB Personal Loan

Per Month

S$856

MoneySmart Exclusive
Loan up to 8x monthly income

CIMB Personal Loan

Interest Rate
EIR*: From 5.06% p.a.
From 2.68% p.a.
Total Amount Payable
S$10,268
Processing Fee
S$0
Per Month
S$856

Choose from up to S$1,220 Cash via PayNow or attractive gifts like an Apple 13-inch MacBook Air (worth S$1,499), Apple iPhone 16e (worth S$949), Sony PS5 (SLIM) Digital Edition (worth S$669), and more! T&Cs apply.

Valid until 31 Jul 2025 - See more details below
Apply Now
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HSBC Personal Loan

Per Month

S$852

MoneySmart Exclusive
Quick Application via MyInfo, Instant Disbursement

HSBC Personal Loan

Interest Rate*
EIR: From 4.00% p.a.
From 2.20% p.a.
Total Amount Payable
S$10,220
Processing Fee
S$0
Per Month
S$852

Get up to S$1,100 Cash via PayNow or earn up to 13,320 SmartPoints! Use SmartPoints earned to redeem any product of your choice from our Rewards Store! T&Cs apply.

Valid until 31 Jul 2025 - See more details below
Citi Quick Cash Program with Ready Credit

Per Month

S$863

MoneySmart Exclusive

Citi Quick Cash Program with Ready Credit

Interest Rate
EIR: From 6.50% p.a.
From 3.45% p.a.
Total Amount Payable
S$10,356
Processing Fee
S$0
Per Month
S$863

Get S$50 Cash or 500 SmartPoints when you apply for a loan of min. S$8,000 with min 1 year tenure through MoneySmart! T&Cs apply.

Valid until 31 Jul 2025 - See more details below
Best Licensed Moneylender Personal Loan

Per Month

From S$889

Best Licensed Moneylender Personal Loan

Interest Rate
EIR*: 12.82% p.a.
12.12% p.a.
Total Amount Payable
S$11,212
Processing Fee
S$1,000
Per Month
From S$889
Trillion Credit Solutions Personal Loan

Per Month

S$1,060

Trillion Credit Solutions Personal Loan

Interest Rate
EIR*: From 30.91% p.a.
From 27.24% p.a.
Total Amount Payable
S$12,724
Processing Fee
S$1,000
Per Month
S$1,060
Credible.sg Personal Loan

Per Month

S$950

Credible.sg Personal Loan

Interest Rate
EIR*: From 14.93% p.a.
From 14% p.a.
Total Amount Payable
S$11,400
Processing Fee
S$0
Per Month
S$950
Friday Finance Personal Loan

Per Month

S$1,013

Friday Finance Personal Loan

Interest Rate
EIR*: From 23.87% p.a.
From 21.6% p.a.
Total Amount Payable
S$12,160
Processing Fee
S$800
Per Month
S$1,013
DBS Eco-aware Renovation Loan

Per Month

S$874

DBS Eco-aware Renovation Loan

Interest Rate
EIR*: From 5.96% p.a.
From 4.88% p.a.
Total Amount Payable
S$10,488
Processing Fee (Approved Loan)
S$200
Per Month
S$874
DBS Renovation Loan

Per Month

S$876

DBS Renovation Loan

Interest Rate
EIR*: From 6.16% p.a.
From 5.08% p.a.
Total Amount Payable
S$10,508
Processing Fee (Approved Loan)
S$200
Per Month
S$876
OCBC ExtraCash Loan

Per Month

S$880

OCBC ExtraCash Loan

Interest Rate*
EIR: From 10.96% p.a.
From 5.42% p.a.
Total Amount Payable
S$10,554
Processing Fee
S$100
Per Month
S$880
Maybank CreditAble Term Loan

Per Month

S$857

Maybank CreditAble Term Loan

Interest Rate
EIR: From 5.24% p.a.
2.86% p.a.
Total Amount Payable
S$10,286
Processing Fee
Waived for: Online
S$0
Per Month
S$857
DBS Personal Loan

Per Month

S$856

DBS Personal Loan

Interest Rate*
EIR: From 4.17% p.a.
From 1.99% p.a.
Total Amount Payable
S$10,268
Processing Fee
From 1% of Approved Loan Amount
Per Month
S$856
POSB Personal Loan

Per Month

S$856

POSB Personal Loan

Interest Rate*
EIR: From 4.17% p.a.
From 1.99% p.a.
Total Amount Payable
S$10,268
Processing Fee
From 1% of Approved Loan Amount
Per Month
S$856
OCBC FRANK Education Loan

Per Month

S$871

OCBC FRANK Education Loan

Interest Rate
EIR: From 5.17% p.a.
From 4.5% p.a.
Total Amount Payable
S$10,450
Processing Fee
S$250
Per Month
S$871
POSB Further Study Assist (Local)

Per Month

S$870

POSB Further Study Assist (Local)

Interest Rate
From 4.38% p.a.
Total Amount Payable
S$10,438
Processing Fee
S$250
Per Month
S$870

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Understanding Personal Loan Interest Rates in Singapore

While comparing the personal loans available in Singapore, there are typically at least two distinct interest rates which are published upfront on the banks’ websites (which are the advertised rates and EIR). Besides these two rates, there are more to consider such as actual estimated interest rates, zero interest rate loans, term loan rates, revolving loan rates and more important factors which you can read more about in our articles relating to personal loans.

Term personal loans rates

Generally, term personal loans have lower interest rates compared to revolving personal loans. The rates are fixed or variable and are determined at the start of the loan. These loans involve borrowing a lump sum amount that is repaid in fixed monthly installments over a specified period, typically ranging from 1 to 7 years.

Revolving personal loans rates

Revolving personal loans, such as credit lines and credit cards, tend to have higher interest rates. This is due to the flexible nature of borrowing and the higher risk associated with them. Unlike term personal loans, revolving loans allow you to borrow up to a pre-approved credit limit and repay it in flexible amounts. Interest is charged only on the outstanding balance.

Advertised vs actual interest rate

This is the interest rate that banks and financial institutions prominently display. It reflects the annual cost of the loan but does not include other fees or charges. For example, DBS Personal Loan has an advertised interest rate of 3.882.68% p.a. (accurate at the time of writing, last updated on 1 July 2024). However, it doesn’t give you the full picture, since it leaves out other details like processing and admin fees.

Effective Interest Rate (EIR)

This rate provides a more accurate representation of the actual cost of the loan, as it includes not only the advertised interest rate but also additional fees, processing charges, and the loan's repayment schedule. The EIR is usually higher than the advertised rate and offers a clearer picture of the total cost of borrowing. It’s compulsory in Singapore to state the effective interest rate, or EIR, next to the advertised rate.

0% Interest Personal Loans

Some banks also offer promotional 0% interest personal loans for short-term loans. However, these tend to come with high processing fees. That means you’ll still be paying the bank for the loan - it’s just that the bank collects your money upfront rather than in interest payments later on.

Compare Personal Loan Interest Rates (2025)

Bank Loan and Licensed Moneylender Interest Rate (p.a.)
Standard Chartered CashOne From 1.90%
HSBC Personal Loan From 1.99%
Trust Instant Loan From 2.22%
CIMB Personal Loan From 2.68%
UOB Personal Loan From 1.85%
Citibank Quick Cash From 3.45%
Credible.sg Personal Loan From 14.00%
Friday Finance Personal Loan From 21.60%

Interest rates effective as of June 2025. Rates are subject to change without prior notice.

Personal Loans Recommendations

Whether you're planning a home renovation, tackling unexpected medical expenses, or consolidating debt, finding the right personal loan can make all the difference. Check out our top recommendations designed to suit various needs and preferences.

What can I use personal loans for?

Different types of loan

Managing Debt

Licensed Moneylenders in Singapore

Personal Loan Guide for COE

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Read More On What To Consider When Getting A Personal Loan Here

Read More

How to Choose the Best Personal Loan

Should you look at the interest rate or EIR?

Since EIR represents the “true” cost of taking a personal loan, including processing fees, it’s more accurate to look at the EIR rather than the advertised interest rate. However, interest rate alone isn’t the only important thing to consider.

What about monthly instalments?

You should also make sure that the monthly instalments for that loan are manageable. However, don’t take an unnecessarily long loan just to keep the monthly costs down, because it would mean paying the bank more in total interest.

What loan amount should you take?

You should also make sure that the monthly instalments for that loan are manageable. However, don't take an unnecessarily long loan just to keep the monthly costs down, because it would mean paying the bank more in total interest. To make sure that your loan amount makes economic sense, you can tap on personal loan calculators such as the ones by renowned banks like UOB personal loan calculator and DBS personal loan calculator, which are completely free to use and easy to access.

How long should your loan tenure be?

Choose the shortest loan tenure you can manage, because taking on an excessively long loan means that the interest really adds up. You should try to achieve a balance by picking either a term personal loan or revolving personal loan wisely.


While a term personal loan involves a fixed period of time (longer loan tenure) with lower interest rates, a revolving personal loan has a shorter loan tenure which is great for those who are capable of repaying their personal loans as soon as possible, but it comes with much higher interest rates.

Are there alternatives to personal loans?

Expenses, like redoing your home or starting up your own business, are eligible for special bank loans like renovation loans or SME (small/medium enterprise) loans. Since the bank knows what exactly you plan to use the money on, these are considered less risky and therefore have lower interest rates than personal loans. If you are looking for loans catered for different purposes, check out guide on the different ways to use a loan.

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What if You Don’t Qualify for a Personal Loan?

Banks are generally laxer on Singaporeans and PRs in terms of the minimum requirements for them to get a loan. If you’re a foreigner, on the other hand, it can be quite difficult to get a personal loan from a bank if your income is less than $3,000 a month. (Some banks impose even higher minimum monthly incomes.)

If you’re unsuccessful in applying for a personal loan through a bank, you may turn to a licensed moneylender. The Ministry of Law publishes a list of licensed moneylenders so be sure to only borrow from them.

Singapore law requires moneylenders to explain the terms and conditions of a loan to you in a language that you understand, so listen and read carefully, and make sure you are comfortable with the loan terms. Feel free to shop around until you find a licensed moneylender you are satisfied with. Moneylender interest rates can be sky-high - as high as 4% a month - so be sure to borrow the absolute minimum you need, and for the shortest loan tenure you can manage. If you are unemployed and are looking for an urgent cash loan, you could check out our list of safe personal loan for unemployed individuals in Singapore.

Should You Go to a Licensed Moneylender?

If you’re unsuccessful in applying for a personal loan through a bank, and you cannot get cash through any other means, you may turn to a licensed moneylender as a last resort. The Ministry of Law publishes a list of licensed moneylenders, so be sure to only borrow from them.

Singapore law requires moneylenders to explain the terms and conditions of a loan to you in a language that you understand, so listen and read carefully, and make sure you are comfortable with the loan terms. Feel free to shop around until you find a licensed moneylender you are satisfied with. Moneylender interest rates can be sky-high - as high as 4% a month - so be sure to borrow the absolute minimum you need, and for the shortest loan tenure you can manage.

Personal Loan Singapore - Note to Borrowers

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 6.5% 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 an example of a loan with 8.5% EIR, you would need to pay S$316/month for an 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).

What Is the MoneySmart Personal Loan Calculator?

Personal Loan interest rates and packages are extremely dynamic; they can vary significantly depending on your loan tenure (period), the loan amount, your citizenship status, and your income. To find a more accurate quote, please use MoneySmart’s Personal Loan Calculator at the top of the page and enter the variables as accurately as possible. What makes our personal loan calculator different is that while other calculators ask you to enter interest rate to determine your EMI value, our Personal Loan Calculator will generate a list of loan packages, interest rates and repayment plans tailored to the information you entered. You can always adjust the loan amount and loan tenure to find a comfortable monthly repayment amount. Note that our Personal Loan Calculator can only give you an estimate of the interest rates; the provider has final say on the rates they offer you.

Frequently Asked Questions about Personal Loans

What is a personal loan?

A personal loan is a type of debt borrowed from banks, credit unions, licensed money lenders, or neighbouring loan providers for a short or mid-term tenure (Few months or few years), payable in equated monthly instalments which can be used for numerous reasons such as debt consolidation, emergency medical expenses, wedding expenses, starting a business etc. Personal loans are generally expensive compared to other kinds of loans and thus should be taken only when required. Majority of the Personal loans available in the market are 'unsecured loans' which means that you don't need to provide a collateral to the lender for the same. Some of the banks that provide personal loans in Singapore include OCBC, Standard Chartered, DBS, UOB etc.

How to borrow money in Singapore?

If you're looking to borrow money in Singapore, you can either apply for a personal loan through a bank, or a licensed moneylender which is authorised by the Ministry of Law.

Which banks offer personal loans for foreigners in Singapore?

Several major banks such as OCBC, Citibank, Standard Chartered, UOB and others offer foreigner personal loans. However, it is important to note that there is a minimum eligibility requirement for these loans such as your work permit status and your annual income. To learn more about the details of the personal loans available, read our guide on personal loans for foreigners.

How does the US Fed interest rate hike affect personal loans rates?

As most personal loans are fixed-interest products, current borrowers will not be affected by the Fed’s rate hikes. On the other hand, as interest rates on new personal loans are likely to keep rising, new borrowers will feel the impact more than current borrowers, but new borrowers can still qualify for competitive rates by improving their credit scores and shopping for the best deals.

What loan amount should I take on for my personal loan?

As every borrower's needs and financial capability to take on a personal loan differs, it'll probably be wise to do an estimated calculation using online tools like personal loan calculators by renowned banks i.e. UOB personal loan calculator, DBS personal loan calculator, just to name a few, which are completely free to use and easy to access.