Which bank in Singapore offers personal loans with no processing fee?

If you're looking to save on upfront costs, you'll be glad to know that several banks and digital lenders in Singapore currently offer personal loans with no processing fee. Rather than focusing on a single “best” bank, this guide highlights leading lenders waiving processing fees—either as a permanent product feature or through promotions—so you can compare what’s on offer and make the smartest decision for your needs.

Banks and lenders with no processing fee

As of April 2026, major banks and digital lenders in Singapore are actively competing to attract borrowers by waiving the processing fees on personal loans. This means you can access funds without paying the usual upfront charge, especially for loans above certain amounts. 

Below is a list of notable providers offering zero processing fees on their personal loan products—along with their indicative interest rates, approval speed and features. Bear in mind that actual rates and offers may vary depending on your credit profile and may change over time.

GXS FlexiLoan

• Zero processing and annual fees on all loans

• Personalised rates from 1.08% p.a. (EIR from 2.02% p.a.)

• Flexible tenure up to 60 months, instant approval and fully digital application

• No early repayment penalty

• Read more about GXS FlexiLoan

Trust Instant Loan

• No processing fees

• Rates from 1.00% p.a. (EIR from 2.28% p.a.)

• Instant digital approval, but early repayment incurs a 3% penalty

• Read more about Trust Instant Loan

UOB Personal Loan

• Processing fee is fully waived for all loan tenures

• Interest rates from 1.00% p.a. (EIR from 1.93% p.a.)

• Suitable for existing UOB card or CashPlus account holders

• Read more about UOB Personal Loan

CIMB Personal Loan

• No processing fee for loan amounts of $5,000 and above

• Rates as low as 1.00% p.a. (EIR from 1.94% p.a.)

• 1% processing fee applies to loans below $5,000

• Read more about CIMB Personal Loan

MariBank Instant Loan

• Zero processing and annual fees

• Personalised rates from 1.86% p.a. (EIR from 2.79% p.a.)

• Full-digital application with instant approval and disbursement

• Read more about MariBank Instant Loan

HSBC Personal Loan

• No processing fees on instalment plan

• Interest from 1.83% p.a. (EIR from 3.50% p.a.)

• First year annual fee waived

• Read more about HSBC Personal Loan

DBS/POSB Personal Loan

• Processing fee from 1%

• Interest rates from 1.48% p.a. (EIR from 2.84% p.a.), with fee rebates possible for longer tenures

• Read more about DBS/POSB Personal Loan

Note: Eligibility criteria, minimum loan amounts, and promotional mechanics vary—always check the current terms on the lenders’ official sites or MoneySmart product pages before applying.

Comparison table of low-fee loans

Here’s a side-by-side snapshot of key features for Singapore’s leading low- or zero-processing-fee personal loan providers. Most major lenders now waive the processing fee entirely, but some legacy products (notably DBS/POSB for shorter tenures or lower amounts) still levy a small upfront fee.

Figures shown are indicative and may differ based on your credit profile, loan amount and tenure. Always verify the latest rates and terms.

Key considerations

• Effective Interest Rate (EIR): The EIR reflects the true total cost of borrowing, including all processing, annual, and hidden fees. Comparing loans by EIR—rather than just headline rates or “no fee” status—ensures you see the full picture.

• Personalised rates: The “from” rates are often reserved for borrowers with very strong credit. The rate you are offered may be higher, subject to your income, credit score and the lender’s current policies.

• Early repayment fees: While some lenders (like GXS) do not charge early repayment penalties, others (such as UOB or Trust) may impose fees—commonly about 3% of the outstanding loan amount—if you repay early.

• Eligibility and minimum amounts: Note each lender’s minimum income and age requirements. Some waive processing fees only for larger amounts.

• Changing promotions: Banks and digital lenders update their offers and gifts frequently, so always check the latest campaign period or rewards before you apply.

Related links 

• Compare and Apply for the Best Personal Loans in Singapore

• Guide to Instant Personal Loan Approval in Singapore

• What is a Good Personal Loan Interest Rate in Singapore?

• Key Things to Consider Before Taking a Personal Loan

• Common Mistakes to Avoid When Taking Personal Loans