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Credit Culture Personal Loan Review (2021): Transparent Fees And Rates

SingSaver team

SingSaver team

Last updated 29 January, 2021

Convenient, transparent loans for Singaporeans and PRs.

Credit Culture Personal Loan is one that you can consider if you appreciate access to personalised rates with transparent loan terms for loans of up to $50,000.

With instant approval, loan tenures of between one and three years, no early repayment fees, interest rate starting from 0.8% a month, this loan option is suitable for Singaporeans and PRs who need cash fast.

What the Credit Culture Personal Loan can do for you

Credit Culture Loan product summary:

  • Interest rate: Up to 1% per month
  • Loan tenures: 1 to 3 years
  • Max. loan amount: $50,000
  • Approval Time: Instant approval with instant loan disbursement upon face-to-face verification
Transparent fees and ratesNot available for foreigners
Personalised interest rates starting from 0.8% per monthFace-to-face verification required for loan disbursement
Instant approval
Instant loan disbursement upon verification

Why you should choose Credit Culture Personal Loan

#1 Transparent fees and rates

Credit Culture is upfront about fees and interest rates from the start so consumers are empowered to make a better-informed decision when comparing and choosing a loan best suited to their needs.

Additionally, as a digital operation, Credit Culture is more than happy to pass on savings from reduced operational costs to its customers in the form of lower interest rates, competitive processing and late fees. Credit Culture does not charge early repayment fees, too.

See also: Your Go-To Personal Loans Guide in Singapore

#2 Personalised interest rates starting from 0.8% per month

Credit Culture uses credit reports from CBS and analyses them with their proprietary credit scoring and decisioning engine to determine personalised interest rates for every consumer. Interest rates go up to 1% per month. And with their digitised, straight-through application process that helps reduce manpower costs, Credit Culture is able to pass on the savings to their customers.

Do note that in general, customers with an annual income of more than $30,000 are typically granted lower interest rates than customers with an annual income of between $20,000 and $30,000

#3 Instant approval

Credit Culture’s digital solution allows customers to get instant loan approval, thanks to their proprietary decisioning technology that instantly retrieves and analyses CBS data. This helps consumers save time upon application as MyInfo fields are pre-filled and there is no need to upload any additional documents.

#4 Instant loan disbursement upon verification

Customers also enjoy the convenience of being able to receive the loan amount immediately via their preferred bank account. The only condition is that customers will have to head down to the Credit Culture office at Craig Road for a face-to-face verification. This is part of the protocol as required by the Ministry of Law.

For whom is the Credit Culture Personal Loan best for?

Credit Culture Personal Loan is best for Singaporeans and PRs who need quick access to a loan of up to $50,000.

Summary of interest rates

Based on loan amount of $10,000

Loan TenureFlat Interest Rate (per month)Processing FeeMonthly InstalmentsTotal Repayment
1 year0.8%1%$913.33$10,960
2 years0.8%1%$496.66 $11,920
3 years0.8%1%$357.78 $12,880

What charges or fees should you look out for?

  • Processing fee: 1% to 3% of approved loan amount
  • Late payment fee: $60 for each missed payment

Eligibility criteria

  • Between 21 and 60 years of age
  • Minimum annual income for Singapore citizens and PRs: $20,000
  • Singaporeans and PRs only

How to apply? 

Simply head over to Credit Culture's website to create your Credit Culture account and apply.

  • Log in to SingPass (MyInfo) for verification and upload your Credit Bureau Singapore (CBS) report
  • Select the amount you wish to borrow and the period over which you wish to repay.
  • Face-to-face verification with our Loan Officers to verify your identity.
  • Get an instant decision on your approved loan amount.
  • Accept the loan agreement and instantly receive funds in your designated bank account, if approved.

Read these next:
Citibank Quick Cash Loan Review (2021): Enjoy 0% Interest Rate For 12-Month Loans
Best Personal Loans With Instant Approval In Singapore (2021)
Best Personal Loans In Singapore With The Lowest Interest Rates (2021)
4 Times In Life You Should Consider Getting a Personal Loan
How to Get a Personal Loan in Singapore With a Bad Credit Score

At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.


Use a personal loan to consolidate your outstanding debt at a lower interest rate!

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