Get the latest POSB Personal Loan interest rates for Singapore on MoneySmart.sg. See how POSB personal loans compares against other banks and apply instantly online.
If you can't find an answer to your question below, you may MoneySmart Forum.
If you can't find an answer to your question below, you may MoneySmart Forum.
A personal loan is an unsecured installment 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.
Here are some qualifying criteria you must fulfill:
You can borrow anywhere from 2-6x your monthly income up to a cap of $200,000.
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.
Some banks charge a fixed processing fee and other banks charge up to 3% of the approved loan amount.
These are the documents you will need to submit:
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.
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Disclaimer: Tenures for personal loans ranges from 1 to 7 years. Personal loan rates range up to 10% per annum. Please see the latest personal loan interest rates across all banks above. Keep in mind that the longer your tenure the lower your monthly payments but the more interest you incur.
MoneySmart's tips and tricks on what I could use Personal Loans for were useful in helping me manage my monthly cash flow. And the website makes applications for my choice loan easy and quick.
Personal Loans can be a confusing thing to choose, given all the different banks that each say they have the best loan in Singapore. MoneySmart was really useful in comparing which loans had the best interest rates!
Here are some benefits of comparing and applying for your loan through MoneySmart.sg
We've aggregated all the latest Personal Loan rates so you can compare them easily.
Find better Personal Loan rates and promotions you might have missed.
Apply hassle free online and get the cash you need as soon as possible. It’s easy.
