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HSBC Personal Loan

SingSaver's Exclusive Offer
SingSaver's Exclusive Offer:
Enjoy low rate from 3.7% p.a. (EIR 7% p.a.) for all income level of $30,000 and above + No processing fees when you apply online

Features

SingSaver Exclusive: Enjoy annual interest rate from as low as 3.7% p.a (EIR 7% p.a) for all annual income segment of $30,000 and above.
Enjoy $0 processing fees when you apply on SingSaver today.
Get 1-min in-principle approval on HSBC Personal Loan
Maximum loan amount of up to 4x your monthly income with an annual income from S$30k to S$120k and up to 8x with an annual income of S$120 or more, or up to S$200,000.
Minimum loan amount of $5,000
Choice of a longer loan tenor of up to 7 years (Note that loan tenor of 6 - 7 years is only applicable for salaried employees)
Cash the next day in your account upon submission of complete documents for loan amount of less than $100,000
Min Income for salaried Singaporeans/PRs: S$30,000 p.a.
Min Income for foreigners residing in Singapore and self-employed/commissioned-based earner Singaporeans: S$40,000 p.a.
Early repayment fee: 2.5% of the redemption amount
Overdue interest: 2.5% + prevailing interest on overdue amount
Late payment fee: S$75 for each monthly repayment that is not received in full by the monthly repayment due date

The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

BOC $martLoan

Time Limited
Time Limited:
Enjoy exclusive rates & no processing fees when you apply through SingSaver.
To Apply: SMS BOCMP SLSS Name to 79777.

Features

Exclusive annual flat interest rate from as low as 3.72% p.a. (EIR 7.32% p.a.), only at SingSaver. Promotion is valid from 14 June 2019 to 31 July 2019. Terms and Conditions apply.
No processing fees when you apply through SingSaver (usual processing fee is 3% of approved loan amount or $150, whichever is higher).
Receive complimentary MoneyPlus Line of Credit with low interest rate and ease of withdrawals for emergency cash use.
How to apply:
  • SMS BOCMP SLSS Name to 79777; or
  • Click on “Apply Now” button to download the PDF and submit to the email address stated in the PDF.
  • Min Income for Singaporeans/PRs: S$30,000 p.a.
    Min Income for Foreigners and self-employed/commissioned-based earner Singaporean: S$40,000 p.a.
    Rescheduling fee: $100 for restructure of loan tenure
    Cancellation fee: $100
    Late payment fee: 2% per month of the minimum payment sum, subject to a minimum late payment fee of S$100 per month
    Note that the monthly repayment displayed above is for reference only and is an approximate amount.

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    Standard Chartered CashOne Personal Loan

    Popular

    Features

    Promotion: Get $199 cashback to offset first year annual fee
    Get instant approval and cash disbursement to your preferred bank account when you apply via MyInfo
    Guaranteed flat interest rates as low as 3.88% p.a. (EIR: 7.63% p.a.)
    Get a loan of up to 4x your monthly salary, capped at S$250,000.
    Minimum loan amount of $1,000
    Enjoy five year annual fee waiver on Standard Chartered Platinum Visa credit card to manage your daily expenses if you have an annual income of $30,000 and above
    Min Income for Singaporeans/PRs: S$30,000 p.a.
    Min Income for foreigners: S$60,000 p.a.
    Annual fees from second year till expiry of loan: S$50 (Fee waived if all payment is received by due date for the past 12 months).
    Early redemption fee: $150 or 3% of the outstanding principal, whichever is higher
    Change of tenor: $50 per change
    Late payment fee: $80 (with finance charges on a daily basis at EIR 26.9% p.a for outstanding payment amount)

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    POSB Personal Loan

    Features

    Note that interest rate of 3.88% p.a. (EIR 7.56% p.a) is not guaranteed and may differ based on your personal credit and income profile
    Get instant approval and cash disbursement to your DBS/POSB deposit account for existing DBS/POSB cashline/credit card customers or new customers who are currently crediting salary into DBS/POSB account.
    Get cash up to 4x of your monthly salary or 10x if your annual income is S$120,000 and above.
    Minimum loan amount of $500
    Min. income for Singaporeans/PRs: S$20,000 p.a.
    Users with annual income between S$20,000 and S$30,000 may be eligible for DBS/POSB loan at higher annual interest rate and processing fees.
    Foreigners are not eligible for this loan.
    Early redemption fee: $150
    Late payment fee: $100 for personal loan on DBS credit card & $105 for personal loan on DBS Cashline

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    Citibank Quick Cash - New Customers

    SingSaver's Exclusive Offer
    SingSaver's Exclusive Offer:
    Get $100 worth of grocery vouchers upon loan approval

    Features

    SingSaver Exclusive: Get a personal loan with annual interest rate from as low as 3.99% p.a. (EIR 7.5% p.a.) for new Citibank customers with min. loan amount of $20,000.
    SingSaver Exclusive: Be rewarded with $100 NTUC FairPrice vouchers upon approval. Promotion is valid from 8 November 2018 - 30 June 2019. Terms and Conditions apply.
    Please note that you will be required to open a Citibank Ready Credit account before you can apply for a Citibank Quick Cash.
    Enjoy $0 processing fees and instant pre-approval when you apply for Citibank Quick Cash on SingSaver
    Loan up to 4x your monthly salary, with minimum loan amount of $1,000
    Min Income for Singaporeans/PRs: S$30,000 p.a.
    Min Income for foreigners: S$42,000 p.a.
    Cancellation fee: 3% of outstanding unbilled principal amount or S$100, whichever is higher
    If minimum payment amount is overdue by two consecutive months, the loan will be terminated and the total outstanding amount will be billed

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    CIMB CashLite Personal Instalment Loan

    Features

    Note that interest rate of 4.5% p.a (EIR 8.29% p.a) is not guaranteed and may differ based on your personal credit profile
    Loan amount is drawn from existing CIMB Credit Card at up to 90% of the available credit limit. New to bank customers will be opening a CIMB credit card account.
    Enjoy annual fee waiver on credit card for life
    Minimum loan amount of $1,000
    Min Income for Singaporeans/PRs: S$30,000 p.a.
    Early termination fee: 3% of outstanding loan amount or S$250, whichever is higher
    Late payment fee: $100

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    Citibank Quick Cash - Existing Customers

    Features

    No processing fee
    Loan up to 4x your monthly salary, with minimum loan amount of $1,000
    Min Income for Singaporeans/PRs: S$30,000 p.a.
    Min Income for foreigners: S$42,000 p.a.
    Cancellation fee: 3% of outstanding unbilled principal amount or S$100, whichever is higher
    If minimum payment amount is overdue by two consecutive months, the loan will be terminated and the total outstanding amount will be billed

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    UOB Personal Loan

    Features

    Get instant approval for new UOB customers (for applications submitted between 7am to 8pm).
    Note that you will need to apply for either a UOB Credit Card or UOB CashPlus
    Minimum loan amount of $1,000
    Min. Income for Singaporeans/PRs: S$30,000 p.a.
    Foreigners are not eligible for UOB Personal Loan application
    Cancellation fee: $150 or 3% of outstanding approved loan amount, whichever is higher
    Processing fee: 1% of approved loan amount

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    OCBC Personal Loan

    Features

    Note that you will need to be an existing OCBC credit card or OCBC EasiCredit holder
    Loan up to 4x of your monthly salary for annual income earners of less than $120k or up to 6x of your monthly salary for annual income earners of $120k and above
    Minimum loan amount of $1,000
    Please note that your approved interest rate will be determined by OCBC Bank
    Min Income for Singaporeans/PRs: S$20,000 p.a.
    Min Income for Foreigners: S$45,000 p.a.
    Processing fees: 2% of the approved loan amount
    Interest is subject to compounding if the monthly interest charges are not repaid in full.
    Termination fee: $100

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.

    Maybank CreditAble Term Loan

    Features

    Promotion: S$120 Dairy Farm gift vouchers with a minimum approved Loan amount of S$9,000. Limited to first 500 successful applicants.
    Loan up to 2x of your monthly income (based on credit limit of your Maybank CreditAble account)
    Min Income for Singaporeans/PRs: S$30,000 p.a.
    Processing fee: 2% of approved loan amount
    Early redemption fee: $200 or 3% of the outstanding principal, whichever is higher

    The information displayed above is for reference only. The actual rates offered to you will be based on your credit score and is subject to the provider’s approval.
    SingSaver compares the best Personal Loans in Singapore that range from 1-year to 7-year tenures. The effective interest rate (EIR) you can enjoy from the loans on our site range from 7.0% p.a. to 18.72% p.a. The EIR of your loan will depend on the annual interest rate (or bank advertised nominal interest rate) and the tenure of your loan. For example: a loan of S$10,000 over 3 years at 3.88% p.a. nominal interest would equate to monthly repayments of S$310.11, and the total cost of the loan that you pay back would be S$11,164. This is not inclusive of any administrative or processing fees that may apply.

    Need some help?

    No worries, we've got you covered!

    What is a personal instalment loan?

    A personal instalment loan is a one-time unsecured loan from a bank which is repaid through fixed monthly instalments. "Unsecured" means it's not tied to material assets like your car or home, in case you default on your payment (and which banks can repossess). Personal loan interest rates range from 3.7% p.a. to 10.8% p.a. Most banks offer loans with a tenure of 12 to 84 months. The minimum loan amount is $1,000.

    How does a personal instalment loan work?

    A borrower can apply for an instalment loan by filling out an application with a bank by stating the reason for the loan. The banks will then assess your credit history and decide on the down payment, the term of loan, payment schedule and repayment amounts. Typically, borrowers will have to pay other fees such as application and processing fees on top of interest charges. You can save on interest charges by making timely payments or paying off the loan before the set end of term, but some loans may have a prepayment penalty.

    Are installment loans good for your credit?

    A personal instalment loan can be good for your credit as it helps you clear your debts and have more manageable repayments at lower interest rates. The instalment loan will have a positive effect on your ability to manage debt responsibly, as long as you make repayments on time and pay off the full amount required under the term of loan. This tends to improve your credit score.

    When should I use a personal instalment loan?

    Personal instalment loans are useful for needs that other loan types cannot cover. These include paying for weddings, renovations, travel and medical costs not covered by insurance. Besides that, you can also use personal loans for downpayment when you are buying a car or house. Sometimes, a personal loan is not a bad idea as the interest rates can be lower than some other loan types. The rates go even lower when banks offer promotional interest rates. It's best to compare personal loan interest rates before deciding which is the right one for you.

    Confused by terms used in Personal Loan?

    Glossary terms to know for first-time personal loan applicants