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Your Go-To Personal Loans Guide in Singapore 2024

SingSaver team

SingSaver team

Last updated 09 January, 2024

Are you still trying to understand personal loans or are you already considering one for yourself? We’re providing you with a collection of resources to help you make informed decisions. 

What is a personal loan? 

Understand more about personal loans

Personal loans can be hard to grasp, especially at the beginning. As with all personal loans, it comes with hard choices and responsibilities. We’ll guide you through how they work and everything you need to know.

Table of contents

How to apply for a personal loan in Singapore? 

Singaporean banks have specific qualifications and legal requirements. Wondering if you’re eligible to get a personal loan?  No matter what your credit score is, there are many ways to go about getting a personal loan in this country, regardless if it’s online or in-person. 

Here are resources to guide you through the process of getting one. 

SingSaver Exclusive Promotion: Enjoy the following rewards when you sign up for an HSBC Personal Loan:

Receive an Apple iPhone 15 Pro 256GB (worth S$1,825.75) or a Dyson 360 Vis Nav™ robot vacuum (worth S$1,649) or an Apple Bundle (worth S$$1057.60) [Apple iPad 10th Gen 64GB (worth S$691.60) + Apple AirPods Pro Gen 2 (worth S$386)] or a PlayStation 5 Digital Version (worth S$669) or Dyson V8 Slim Fluffy (worth S$509) or S$50 cash via PayNow when you get approved for a loan of min. S$10,000 with tenure of 3 to 5 years. Valid till 30 April 2024. T&Cs apply.

Reasons for getting a personal loan

Personal loans can be used for various causes  – home renovations, wedding expenses, school fees, vacation costs, and even debt consolidation. We talk about the different types of personal loans you should consider. 

Compare the best personal loans in Singapore

Many banks can offer you a personal loan. With so many options to choose from, it can be overwhelming and confusing. Thus, we’ve provided you an up-to-date list of the best personal loans and their comparisons.

As you can see, personal loans aren’t just for the high-earning. You have an abundant choice of personal loans suited for your needs and budget.

SingSaver Exclusive Offer: Apply for a CIMB Personal Loan and fulfil the specific eligibility requirements for a chance to win a Hustler Hannah Starter Pack (worth S$5,307.95) or a Reno Ryan Starter Pack (worth S$5,641.40) or a WanderLust Wendy Travel Starter Pack (worth S$5,668.60) on top of our existing rewards. Valid till 13 June 2024, 11.59pm. T&Cs apply.

Plus, receive a Macbook Air 256 GB 13 Inch M2 Chip (worth S$1,613.80) or a Dyson V12s Detect Slim Submarine™ Complete (worth S$1,449) or a PlayStation 5 (Disc Version) (worth S$799) or a Dyson AM07 Tower Fan (worth S$459) or up to S$1,200 Cash when you get approved for a CIMB Personal Loan with a min. loan amount of S$8,000 and tenure of 3 to 5 years. Applicable to new customers only. Valid till 31 May 2024. T&Cs apply.

Which banks can offer you the best personal loans?

If you’ve already decided to take on a personal loan, then you must have a few options in mind. Here are in-depth reviews of personal loans offered by different banks to help you find the best personal loan for your needs! 


⚡Flash Deal⚡: Be one of the first 2 applicants daily at 12pm with at least a minimum loan amount of $15,000, and SingSaver will cover your 1st year’s interest (up to S$400) on top of existing rewards. Valid till 1 May 2024. T&Cs apply.

Singsaver Exclusive Offer: Receive the following rewards when you apply for an SCB CashOne Personal Loan:

New Customers: Receive an Apple iPhone 15 128GB (worth S$1,311) or an AirWheel SE3T Luggage (worth S$1,167) or an Apple iPad 10th Gen 10.9 64 GB (worth S$691.60) or an Ergotune Joobie (worth S$599) or a Nintendo Switch Gen 2 (worth S$399) or up to S$1,040 Cash upon loan approval when you apply for a minimum loan of S$8,000 with a tenure of 3 to 5 years. Valid till 30 April 2024. T&Cs apply.

Existing Customers: Receive up to S$520 Cash upon loan approval when you apply for a minimum loan of S$8,000 with a tenure of 3 to 5 years. Valid till 30 April 2024. T&Cs apply.

Need more insights on personal loans?

If you’re still uncertain about taking a personal loan at this point, don’t worry –  that just means you’re being responsible with your finances! 

Below are more resources on things to further consider before taking a personal loan and how you can manage your loan repayments. 

Things to consider before getting a personal loan

Repaying your personal loans

Personal Loans Promotions

Want a good deal but don’t know where to find personal loan promos? We’ve got you covered. Follow our personal loans page to keep track of the latest promotions in Singapore! 


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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