Get the Best Personal Loan Interest Rates for 2018 Now!

Updated 22 June 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.

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Loan Details

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Listing posb logo new

3.88%

Interest Rate (EIR 7.90% p.a.)

3 years

Loan Tenure

$310

Per Month

  • Get up to S$1,000 processing fee waiver
  • Get S$120 NTUC Vouchers
Loan Details
Citizenship StatusSingaporean
Minimum Annual Income$20,000
Maximum Loan Tenure5 years
Processing FeeAs low as 1% of the loan amount
Repayment Summary
Principal Loan Amount$10,000
Monthly Instalments$310
Interest Rate (per annum)3.88%
Loan Tenure3 years
Total Amount Payable$11,164
Total Interest Payable$1,164
Listing dbs logo new

3.88%

Interest Rate (EIR 7.90% p.a.)

3 years

Loan Tenure

$310

Per Month

  • Get up to S$1,000 processing fee waiver
  • Get S$120 NTUC Vouchers
Loan Details
Citizenship StatusSingaporean / PR
Minimum Annual Income$20,000
Maximum Loan Tenure5 years
Processing FeeAs low as 1% of the loan amount
Repayment Summary
Principal Loan Amount$10,000
Monthly Instalments$310
Interest Rate (per annum)3.88%
Loan Tenure3 years
Total Amount Payable$11,164
Total Interest Payable$1,164
Listing citibank logo

4.55%

Interest Rate (EIR 8.50% p.a.)

3 years

Loan Tenure

$316

Per Month

MoneySmart Exclusive: S$100 Grab Credits!
  • Exclusive Offer - 4.55% p.a. (EIR 8.5% p.a.) for 36 month loan tenure
Loan Details
Citizenship StatusSingaporean / PR
Minimum Annual Income$30,000
Maximum Loan Tenure5 years
Processing FeeNo processing fee
Repayment Summary
Principal Loan Amount$10,000
Monthly Instalments$316
Interest Rate (per annum)4.55%
Loan Tenure3 years
Total Amount Payable$11,365
Total Interest Payable$1,365
Listing hsbc logo png transparent new

4.80%

Interest Rate (EIR 9% p.a.)

3 years

Loan Tenure

$318

Per Month

  • As low as 3.7% p.a. interest rate, with $80k min. annual income
  • 1 min approval in-principle + S$50 Cashback Online Exclusive
Loan Details
Citizenship StatusSingaporean / PR
Minimum Annual Income$30,000
Maximum Loan Tenure7 years
Processing Fee$88
Repayment Summary
Principal Loan Amount$10,000
Monthly Instalments$318
Interest Rate (per annum)4.80%
Loan Tenure3 years
Total Amount Payable$11,440
Total Interest Payable$1,440
Listing standard chartered new logo

5.68%

Interest Rate (EIR 11.21% p.a.)

3 years

Loan Tenure

$325

Per Month

MoneySmart Exclusive: 4.98% p.a. Interest Rate (EIR from 9.29% p.a.) + S$50 Online Cashback
  • Get S$199 Cash Credit
Loan Details
Citizenship StatusSingaporean / PR
Minimum Annual Income$30,000
Maximum Loan Tenure5 years
Processing Fee
Repayment Summary
Principal Loan Amount$10,000
Monthly Instalments$325
Interest Rate (per annum)5.68%
Loan Tenure3 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).

Personal Loan Frequently Asked Questions | Ask MoneySmart

If you can't find an answer to your question below, you may visit the MoneySmart Forum.

What can I use personal loan for?

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.

Do you qualify for a personal loan?

Here are some qualifying criteria you must fulfill:

  • Singaporean/PR or foreigners may apply for a personal loan
  • Age between 21-65
  • Singaporean/PR must be earning at least $20,000 per annum and foreigners must be earning at least $40,000 per annum.

How much can you borrow with a personal loan?

You can borrow anywhere from 2-6x your monthly income up to a cap of $200,000.

What are personal loan tenures like?

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.

Are there additional bank fees with personal loans?

Some banks charge a fixed processing fee and other banks charge up to 3% of the approved loan amount.

What documents are needed to apply for a personal loan?

These are the documents you will need to submit:

  • Photocopy of your NRIC (both sides)
  • If you are a salaried employee, you’ll need your latest e-statement, or your CPF contribution history statement for the last 12 months, or your latest Income Tax Notice of Assessment
  • If you are self employed, you’ll need your latest 2 years of Income Tax Notice of Assessment

What is the lowest personal loan interest rate?

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.