Why Trust MoneySmart?As of June 2026, Standard Chartered offers one of the lowest published effective interest rates (EIR) for personal loans, starting from 1.75%. Runner-up is GXS offering a low EIR starting from 1.84% per annum. UOB is close behind with a EIR from 1.93% per annum and CIMB with a EIR from 1.94% per annum, both subject to approval and eligibility.
Many banks now provide quick approval, instant disbursement, and special campaign gifts—but always check the true cost (EIR), requirements, and any fees that may affect you.
Below is a quick comparison of best personal loans in Singapore with low interest rates. Actual rates, fees, and eligibility may vary, and promotions can end or change at short notice. Always use EIR for a fair comparison between banks.
Bank/Provider | Effective Interest Rate (EIR) from | Annual Interest Rate (Nominal) from | Key Features |
1.84% p.a. | 1.00% p.a. | Flexible personal loan with no processing fees. Instant approval/disbursement | |
2.28% p.a. | 1.00% p.a. | No processing fees Requires Trust credit card and savings account Promo for new/existing Trust customers | |
1.75% p.a. | 0.90% p.a. | No processing fees but $199 annual fee (first year) Open to new/existing customers Instant approval/disbursement | |
1.94% p.a. | 1.00% p.a. | Zero processing fee for any loan amount Open to both account holders and non-customers | |
1.93% p.a. | 1.00% p.a. | No processing fees. For existing UOB Credit Card or CashPlus customers Fast approval/disbursement | |
3.22% p.a. | 1.48% p.a. | 1% processing fee Instant approval/disbursement for existing customers Personalised rates |
💡 MoneySmart Tip |
Use trusted online comparison tools like MoneySmart's personal loan comparison to review personalised rates, eligibility, and requirements across major banks in Singapore—helping you make a more informed choice quickly. |
Important considerations
Use EIR for true cost: The effective interest rate (EIR) reflects not just the headline annual rate, but also any fees and compounding, giving a real-world measure of what you’ll actually pay
Personalised rates: The lowest “from” rates are usually for customers with very strong credit profiles. Actual rates given at approval may be higher
Eligibility and requirements: Some of the best rates are for existing bank customers (e.g., UOB, Trust) or require you to open a credit card or account
Processing and annual fees: Some banks charge upfront or yearly admin fees—read the key features line and product terms
Promotional offers: Limited-time promotions (like extra cash, fair price vouchers, or SmartPoints) may change monthly—so check on MoneySmart's personal loan promotions before applying
How to apply: Most banks offer instant or same-day approval and disbursement via MyInfo or their mobile app, but documents and process may differ
Read the T&Cs: Review full terms in the bank/app before committing to any loan
💡 Looking for fast approval and quick disbursement? |
Don’t waste time searching lender by lender. We have done the work for you! See all lenders that provide quick approval and disbursement at a glance on our instant loans comparison page! |
