MariBank opened their doors to the public in late 2024, joining the ranks of digital banks such as GXS and Trust Bank. You can now open a Savings Account, take out personal or business loans, as well as invest with MariBank. In this article, we’ll be focusing on MariBank’s Personal Loans, which the bank calls Instant Loans. 

The first thing to know about MariBank’s Personal Loans is that you need to sign up for a Mari Credit Card to be eligible. Signing up is done via Singpass, so do ensure that all of your personal and financial information on MyInfo is correct before you submit your application.

You need to meet one of the following two criteria to be eligible for a Mari Credit Card:

• You are a Singapore Citizen or Permanent Resident between 21 and 55 years old with an annual income of at least S$30,000. Singapore Citizens and Permanent Residents over 55 years only need a minimum annual income of S$15,000.

• You are a foreigner aged 21 and above with a valid pass, such as an Employment Pass, with a validity period of 6 months and above on the date of your application. (Dependent Pass, Long-Term Visit Pass, Long-Term Visit Pass-Plus, Overseas Networks & Expertise Pass, Personalised Employment Pass and S Pass holders may also apply.)

If you don’t meet the minimum annual income requirement, you can still be assessed for a Mari Credit Card with a credit limit of up to S$500. This only applies if you are a Singapore Citizen or Permanent Resident between 21 and 55 years old.

MariBank Instant Loan product summary

• Interest rate: From 0.24% per month (EIR 5.43% p.a.)

• Tenure: 3-60 months

• Approval time: 1-2 days for new members, just minutes for Mari Credit Card holders

• Processing fee: S$0

• Early repayment fee: S$100 or 3% of the remaining unpaid principal amount, whichever is higher.

Love scouting for deals on Shopee? Then you’ll love how linking your MariBank account with Shopee and ShopeePay enhances your Shopee experience. You’ll be able to top up your ShopeePay wallet, check out on Shopee seamlessly, and enjoy Unlimited Shopee Coins on your Shopee spend.

MariBank’s Instant Loan isn’t just for Shopee fans, of course. Anybody looking for a quick way to apply for a personal loan at competitive rates will appreciate how easy MariBank’s application process is. Like major banks in Singapore, such as DBS and OCBC, the application has been integrated with Singpass, which means you won’t have to waste time filling up forms and rounding up documents. Plus, you can manage your loan from your MariBank app, without the need for calling your bank’s hotline or visiting the nearest branch of your bank.

>>  READ: Our guide to Singapore's best secured personal loans

If you’re looking for a personal loan that is not tied to your credit limit though, MariBank’s Instant Loan may not be right for you. This is because the loan converts a portion of your available Credit Limit into cash, which means Instant Loans will result in your credit limit taking a hit.

The days where travelling to the bank was necessary and waiting in line just to take out a personal loan are long over. With the rise of digital banks like MariBank, you can now shop and apply for Personal Loans online. With interest rates comparable or below that of Personal Loans offered by major banks and low to no fees involved, Personal Loans from digital banks will likely be here to stay for a long time to come. 

MariBank Instant Loan vs. GXS FlexiLoan vs. Trust Bank Instant Loan 

As you can see, MariBank’s interest rates are comparable to that of GXS Bank’s, though Trust Bank has the lowest interest rates of them all. Maribank’s qualifying minimum annual income is also slightly higher at S$30,000, versus the S$20,000 required by GXS and Trust Bank. This requirement drops to just S$15,000 for MariBank customers over the age of 55.

>>  FIND OUT: Which are the best online Personal Loans of 2025?

As mentioned above, only Mari Credit Card holders have access to MariBank’s Instant Loans. Note the differences in the application process for existing MariBank members and customers new to MariBank.

For existing MariBank customers:

1. Log in to your MariBank app.

2. Select Instant Loan on the home screen.

3. Tap on Apply.

4. Register for Instant Loan with Singpass. (Make sure all your data is up to date on MyInfo before you submit your application.)

5. You'll get access to the Instant Loan feature when your Instant Loan application is approved.

If you are a new Mari Credit Card holder, you will be issued with a virtual Mari Credit Card upon successful application for your Instant Loan.

For customers new to MariBank:

1. Download the MariBank app.

2. Register with a valid Singapore mobile number.

3. Select "Instant Loan" and go to the product selection page to start your application.

4. You will be issued with a virtual Mari Credit Card and gain access to the Instant Loan feature upon approval.

Applications will be processed in 1-2 days. MariBank will notify you of your application outcome via your preferred mode of communication. This can be either a push notification, an SMS, or an email.