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MoneySmart Exclusive

Get attractive gifts like an Apple iPhone 15, 128GB (worth S$1,311) or a Sony PlayStation®5 (SLIM) Disc Edition (worth S$799) or an Apple iPad 10th Gen, 64GB + Apple Pencil (USB-C) (worth S$648) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or up to S$1,200 Cash via PayNow when you apply for a loan through MoneySmart! T&Cs apply
For a limited time only, enjoy the lowest flat interest rate from 2.80%p.a. (EIR from 5.28% p.a.) when you get approved for a min. loan amount of S$30,000 and above!

Valid until 31 Jul 2024 - See more details below

Are you eligible?

    • Promotion is valid from 01-July-2024 till 31-July-2024

    • Customers must apply through MoneySmart to be eligible

What you need to know

  1. Log into your MoneySmart account and submit your claim by 30th August 2024

  2. Receive your rewards when you get approved for a min. loan amount of S$8,000 with a tenure of 3 to 5 years. T&Cs apply.

  3. S$8,000 to S$14,999 Loan Size:
    Incentive : S$50 Cash via PayNow 

  4. S$15,000 to S$29,999 Loan Size:
    Incentive : S$280 Cash via PayNow OR Samsung 27-inch Smart Monitor M5 (worth S$432)

  5. S$30,000 to S$49,999 Loan Size:
    Incentive : S$600 Cash via PayNow OR Apple 10.9-inch iPad 10th Generation WiFi, 64GB + Apple Pencil (USB-C) (worth S$648) 

  6. S$50,000 to S$79,999 Loan Size:
    Incentive : S$780 Cash via PayNow OR Sony PlayStation®5 (SLIM) Disc Edition (worth S$799)

  7. S$80,000 and above Loan Size:
    Incentive : S$1,200 Cash via PayNow OR Apple iPhone 15, 128GB (worth S$1,311)

  8. Please note that gift will typically be fulfilled approximately 5 months after the end of the campaign month (31 July 2024).

  9. * Enjoy the lowest flat interest rate from 2.8% (EIR from 5.28%) when you get a final approved loan amount of S$30,000 and above, with a tenure of 3-5 years.

Claim Form

Quick Facts

Best For

Guaranteed, open and transparent rates (all rates published on website). There is no need to download an app and no prerequisite to have a CIMB Bank Account or CIMB Credit Card before you apply

Loan Disbursement

Instant disbursement upon approval

Guaranteed Interest Rate?

Yes as per approved loan amount and chosen tenure. All rates are published on CIMB website.

All Details

Disclaimer: At MoneySmart.sg, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

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CIMB Personal Loan Review 2024

As one of the largest banking groups in Southeast Asia with over $200 million in total assets (as per its latest June 2023 Group Financial Statement), CIMB Group Holdings Berhad has expanded its presence internationally, including Singapore.

CIMB Singapore offers a range of banking services such as retail banking, corporate banking, and investment banking and has a selection of loans for you to choose from including personal loans.

Their personal loan is offered with a choice of fixed instalments up to 60 months tenure, at competitive annual interest rates and effective interest rate (EIR). As most interest rates are kind of personalised for each customer, the CIMB personal loan rates you get might differ, depending on other factors which the bank will take into consideration. Let’s find out the pros and cons of taking up a CIMB personal loan in this review.

Pros & Cons


  • Cashback upon approved application
  • No processing fee
  • Convenient and quick online application via CIMB’s online website with SingPass
  • Instant loan disbursement once loan is approved
  • No need to be an existing CIMB Bank Account or CIMB Credit Card before you apply
  • Open to Singapore Citizens, PRs and foreigners with a Singapore Employment Pass aged 21 to 70
  • Lower annual income requirement of $20,000 for foreigners as compared to other loans by other banks like UOB and POSB/DBS


  • Higher interest rates offered than other personal loans like GXS FlexiLoan (as per MoneySmart’s Personal Loans comparison tool)
  • Not available to foreigners
  • Minimum loan amount is S$2,000
  • Waiver of processing fee is only valid upon an approved personal loan amount of $5,000 or more

Check Out Our Review Of CIMB Personal Loan In This Article!

How Is CIMB’s Personal Loan Repayment Like?

As CIMB’s interest rates aren’t published upfront on their website, you’ll only be able to know the actual estimated interest rate you’ll be getting when you apply for the loan. At the moment, their advertised interest rates are from 3.38%, with an EIR above 6% and is subject to changes according to economic conditions globally.

To make things easier to understand, here is an example to illustrate. (But keep in mind that in reality, interest rates are personalised, so yours might differ from this example which was calculated using CIMB’s personal loan calculator.)

Let’s say you’re taking up a $10,000 loan over 3 years for your wedding expenses and your monthly income is about $2,500. With an interest rate of 3.38% p.a., your estimated monthly repayment amount would be $306, taking into account the EIR of 6.38% p.a. which can be determined by many other factors besides the interest you are charged, such as your number of installments, frequency of installments, whether your installment amounts are equal or not, administrative fee or processing fees.

Here's a quick breakdown of the estimated calculation:
  • Loan amount: S$10,000
  • Interest rate: 3.38% p.a. (EIR 6.38% p.a.)
  • Total interest payable: 3.38% p.a. x S$10,000 x 3 years = S$1,014
  • Total repayment: S$11,014
  • Monthly instalment: S$309
  • *Based on CIMB personal loan’s calculator

In the situation that you decide to opt for early repayment, there will be a fee of a minimum of $250 or 3% of the outstanding principal amount of the approved loan, whichever is higher.

CIMB Personal Loan Application

Before you start considering whether to get the CIMB Personal Loan or any other personal loans, you’ve got to be really sure of why you need to take up a personal loan. Picking a manageable loan amount that you can afford to pay off in monthly instalments is essential to a sound financial plan in the long run, plus, you’ve got to consider the other costs involved such as Effective Interest Rate (EIR), processing fees, annual fees, vice versa.
Here are 5 simple steps to apply for CIMB Personal Loan

Step 1

Visit MoneySmart’s Personal Loans page

Simply click on our “Apply Now” button on our CIMB Personal Loan page, or you can choose to apply via CIMB’s website with your SingPass MyInfo. CIMB will then retrieve your identity and income data from SingPass (which is already verified), thus cutting short the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.

Step 2

Prepare all required documentation

You’ll need to provide all the necessary documentation in order for CIMB to approve your personal loan application. This list of documents include:

  • NRIC or other identification details
  • Latest computerised payslip
  • Latest 12 months’ CPF Contribution
  • Latest Income Tax Notice of Assessment (NOA) if you wish to be considered for a higher loan amount

Step 3

Select your monthly repayment plan

Decide on your required amount before picking the suitable plan and also pick your preferred CIMB account to receive your funds, or provide the details of your other bank accounts.

Step 4

Review and confirm details

After completing the application form and providing required documents, you will likely be directed to a review and confirm page. You can also access this page later by logging into your CIMB Clicks account (online banking) and navigating to the loan application section.

Carefully review all the information you have entered throughout the application process. This includes:

  • Personal details like your name, NRIC, contact information, employment details, etc.
  • Loan details such as requested loan amount, loan tenure (repayment period), interest rate, and monthly repayment amount.
  • Bank account details which you have to ensure that the chosen CIMB account number for receiving the loan funds you've provided is correct.

Step 5

Get your loan disbursement instantly

The loan disbursement will be completed instantly upon approval of your CIMB personal loan online application.

Frequently Asked Questions

Am I eligible for a CIMB personal loan?

If you’re a Singapore Citizen, Permanent Resident (PR), you’re eligible to apply for the CIMB personal loan, as long as you’re aged 21 to 70, and earn a minimum annual income of $20,000 (for Singaporeans and PRs). Note that foreigners are not eligible for this personal loan.

Are there any fees if I take up the CIMB personal loan?

CIMB does not charge any processing fee unless you miss any payments for your instalments. There’s also an early repayment fee that is 3% of the outstanding principal amount of the approved loan or S$250, whichever is higher.