Enjoy Fast Loan Approval with POSB Personal Loans Singapore 2024!

Need instant cash? Apply for a POSB Personal Loan online and get cash as fast as 15 minutes! Read More
10,000 personal loan Paid over 3 years
We found 2 POSB Personal Loans for you!
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Per Month


Per Month
Interest Rate*
EIR: 7.9%
Total Amount Payable
Processing Fee
Per Month
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POSB logo

Per Month


Per Month
Interest Rate
From 4.38%
Total Amount Payable
Processing Fee
Per Month
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Personal Loan Calculator - 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).

POSB Personal Loan Interest Rates & Fees

ParticularsSingapore / PRForeigner
Interest RateFrom 3.88% p.a.From 3.88% p.a.
Effective Interest Rate (E.I.R)From 7.56% p.a.From 7.56% p.a.
Processing FeeOne time processing fee of 1% One time processing fee of 1%
Maximum loan amount‎4X your monthly salary; 10X if your income is $120,000 and up4X your monthly salary; 10X if your income is $120,000 and up
Minimum Annual Income$20,000$20,000
Loan Tenure1 - 5 Years1 - 2 Years
Approval durationInstant Approval and instant cash for DBS ibanking customers Instant Approval and instant cash for DBS ibanking customers
Late payment charge$100 for Credit Card, $120 for Cashline$100 for Credit Card, $120 for Cashline
Early settlement penaltyS$250 S$250
Promotion1% Cashback on Approved Loan Amount1% Cashback on Approved Loan Amount

POSB Personal Loan

Offered by one of the local banks in Singapore, POSB Personal Loan allows existing and new customers to apply online and get approval within minutes. You can also borrow up to 10x your monthly salary as long as you have a good credit standing.


As with other personal loan providers, POSB allows you to take out a loan if you’re Singaporean or PR aged 21 to 65, with a minimum annual income of $20,000.

If you’re already an existing POSB customer, you can apply via iBanking, mBanking, ATM, credit or debit card. There’s no additional document needed. Alternatively, if you don’t have a Cashline account, you can apply and submit your documents through MyInfo.

Interest Rate

You can apply for a POSB personal loan through MoneySmart from as low as 3.88% p.a. (EIR 7.56% p.a.). Take note that EIR may change up to 20.01%, depending on your loan amount, tenure and credit history.

To get an estimate of how much you’ll be paying monthly, you can use the POSB Personal Loan Calculator.


POSB is running a cashback promotion for personal loan applicants. If you’re a new-to-bank customer with an approved loan amounting to $10,000, you’ll receive a $100 cashback with the promo code “POSBPL” entered during the online application. This promotion is valid until 31 August 2021.

Keep in mind that no matter how enticing the promotion is, you should only sign up for a personal loan if you need to consolidate debts or manage your cash flow.

POSB Personal Loan Hotline

If you need assistance regarding POSB Personal Loans, you can call their 24-hr customer service at 1800 111 1111.

Frequently Asked Questions

How to apply for a personal loan with POSB?

It’s simple. Go to POSB’s website or visit MoneySmart’s personal loan page to compare interest rates from other providers before deciding. If you end up choosing POSB personal loan, click on “Apply Now” and you’ll be redirected to POSB’s personal loan page. If you’re already an existing customer, you can straight away apply through their app.

What is POSB Cashline?

POSB Cashline is an online account that lets you access instant cash on a short-term basis through your current or savings account. You can also use your Cashline account to transfer funds, withdraw cash and pay bills.

What is the maximum age for a POSB personal loan?

If you decide to borrow money through POSB personal loan, you can do so as long as you’re not beyond 65 years old. Do note that there’s a minimum annual salary requirement of $20,000.

How can I check my POSB personal loan status?

To check your POSB personal loan application status, you simply need to go to their website, log in using your iBanking account or card details. You may also go to the bank directly to find out the status of your application.

What is the minimum salary to get POSB personal loan.

If you’re a Singaporean or PR planning to take out a loan through POSB, your minimum annual income should be $20,000.