Personal Loan Rates in Singapore 2026
Updated: 15 Jan 2026
Loan | Annual Interest Rate | Monthly Repayment | SingSaver Reward | EIR | Total Cost of Loan | |
|---|---|---|---|---|---|---|
 | From 1.00 % | S$286 | S$230 | From 1.93 % p.a. | S$300 | |
 | From 1.00 % | S$286 | S$240 | From 2.28 % p.a. | S$300 | |
 | From 0.90 % | S$285 | S$230 | From 1.75 % p.a. | S$270 | |
 | From 1.48 % | S$290 | S$500 | From 3.22 % p.a. | S$444 | |
 | From 1.08 % | S$287 | - | From 2.02 % p.a. | S$324 | |
 | From 1.28 % | S$288 | - | From 2.46 % p.a. | S$384 |
1. Click “Apply Now” on UOB's website
2. Fill out the application and upload all necessary documents
3. Wait for an offer from UOB
Note: Get instant approval and cash disbursed into your UOB accounts for applications submitted between 8am and 9pm
- Enjoy interest rates as low as 1.00% p.a (EIR from 1.93% p.a.)
- No processing fees
- Get instant approval and cash disbursed into your UOB accounts for applications submitted between 8am and 9pm
- Min. loan amount of S$1,000
- Min. income for Singaporeans/PRs: S$30,000 p.a.
- Read our full review of the UOB Personal Loan
- Foreigners are not eligible for UOB Personal Loan
- Cancellation fee: S$150 or 3% of outstanding approved loan amount, whichever is higher
- NRIC (Front & Back)
- For salaried employees: Last 3 months’ computerised payslip; or Latest Income Tax Notice of Assessment with latest 1 month’s computerised payslip; or latest 6 months’ CPF statement (for Singaporeans or PRs)
- For self-employed persons: Last 2 years’ Income Tax Notice of Assessment
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.
1. Download the Trust App and navigate to the Instant Loan section
2. Fill out an application and submit all required documents
3. Wait for approval of personal loan
- LOWEST Interest Rates in the Market from 1.56% p.a. (EIR 3.00%* p.a.) with no processing or hidden fees (until further notice)
- Flexible repayments. Choose your desired personal loan amount and tenure. Repay with fixed instalments over 3 to 60 months.
- Fast approval in 60 seconds.
- *EIR calculated based on loan amount of S$90,000 and tenure of 60 months from 1 Jan 2024. Maximum EIR may be up to 22.34% p.a. based on your personal credit profile.
- Deposit Insurance Scheme: SGD deposits of non-bank depositors are insured by the SDIC, for up to S$100,000 in aggregate per depositor per Scheme member by law.
- Min. age requirement: 21 years old
- Minimum annual income of S$30,000 for Singaporean citizen or PR or S$60,000 for foreigners with valid work pass
- Effective Interest Rate (EIR) is calculated based on a loan amount of S$20,000 and loan tenure of 60 months from 1 Jan 2026. Maximum EIR may be up to 25.03% p.a. based on your personal credit profile.
- We charge a 0.88% first year annual fee and this is illustrated in the EIR above. Subsequent annual fee may be applicable, please see our Instant Loan Key Facts Sheet for more details.
1. NRIC (Front & Back)
2. Salaried employees: Latest month’s computerised payslip or latest 6 months’ CPF contribution history statement
3. Self-employed individuals: Last 2 years’ Income Tax Notice of Assessment
4. Commission-based earners: Latest 3 months payslip or latest 6 months' CPF contribution history statement
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.
1. Go to Standard Chartered's website and click "Apply Now” button under Personal Loans
2. Fill out an application and submit all required documents
3. Wait for approval of personal loan from Standard Chartered
- Enjoy low interest rates from 0.90% p.a. (EIR ~1.75% p.a.) for longer tenures. Get instant loan approval and cash disbursement in as quick as 15 minutes to your designated bank account.
- Enjoy a 5-year annual fee waiver on your Standard Chartered Platinum Visa credit card
- Min. loan amount of S$1,000
- Max. loan amount of up to S$250,000
- Allow for change of loan tenure.
- Allow for flexible repayment without late fees.
- Waiver of S$50 annual fee (from 2nd year till expiry of loan) if all instalments for the year are paid on or before the due dateMax. loan amount of up to 4X monthly salary, capped at S$250,000
- Read our full review of the Standard Chartered CashOne Personal Loan
- EIR calculated is not yet inclusive of the first-year annual fee of S$199. Interest rate in your application will be based on your credit profile as determined by Standard Chartered.
- First year annual fee: S$199
- Early repayment fee: S$150 or 3% of the outstanding principal, whichever is higher
- Change of tenure: S$50 per change
- Late payment fee: S$100
- Copy of Passport (with at least 6 months' validity), including the page with address displayed (where applicable)
- Copy of your Employment Pass
- Any ONE of the following documents:
- Latest utility bill, rates or tax bill
- Latest bank / credit card statement (e-Statements are accepted)
- Rental agreement showing your address
- Latest mobile phone statement or pay-TV statement
- Letter from employer stating current address
- Government-issued document stating current address (e.g. IRAS, CPF, ICA)
No documents required for Singaporeans / PRs applying via SingPass.
For foreigners applying via SingPass, please prepare the following:
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.
1. Go to DBS site and click “Apply now” under Personal Loans
2. Log in using your card or ibanking details
3. Fill out and submit all required documents
4. An SMS will confirm if your loan has been approved
5. An approval letter will be mailed to you as well
Note: Applications can be done also via Singpass Myinfo on DBS' website
- Enjoy personalised rates from as low as 1.48% p.a. (EIR 2.84% p.a.) with full processing fee rebate
- Borrow up to 4x your monthly salary if you earn less than S$120,000 annually, or up to 10x if you earn more than S$120,000 annually
- Min. loan amount of S$500
- Tenure: 6 months to 5 years
- Min. income for Singaporeans/PRs: S$20,000 p.a.
- Apply via SingSaver and get your loan approved and disbursed instantly into your DBS/POSB account
- Processing fee: From 1% of the approved loan amount
- Early repayment fee: S$250
- Late payment fee: S$100 for personal loan on DBS/POSB credit card, S$120 for personal loan on DBS/POSB Cashline
1. NRIC (Front & Back)
2. CPF contribution history statement (latest 12 months)
3. Latest 1 year Income Tax Notice of Assessment (NOA)
4. Latest computerised payslip or salary crediting into a DBS/POSB account
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.
GXS FlexiLoan
1. Download the GXS app.
2. Click "Sign Up" for GXS FlexiLoan
3. Get your funds within minutes upon approval.
- No Fees Interest Rates from 1.88% p.a. (EIR from 3.47% p.a.).
- Apply in-app and get your funds in minutes
- A standby revolving credit line which you can draw multiple loans from, from as low as S$200
- Customisable loan tenure from 2 to 60 months depending on loan amount selected
- Flexibility to select your preferred repayment date
- No early repayment fee, plus save on interest when you repay early
- Interest is computed on a daily non-compounding basis
- In-app reminders to repay on time and avoid late interest charges
- Effective Interest Rate (EIR) is calculated based on an average loan amount of S$10,000 with a 36-month repayment period, from 1 Jan 2023 to 1 Jan 2026. T&Cs apply.
- Late interest is chargeable upon late repayment
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.
MariBank Instant Loan
Existing MariBank Customers:
- Log in to the MariBank app.
- Tap Instant Loan on the home screen → Apply.
- Register via Singpass.
If eligible, Instant Loan access is granted immediately. Upon approval, a virtual Mari Credit Card (and Savings Account if not held) is issued
New Users:
- Download the MariBank app.
- Register with a valid Singapore mobile number.
- Select Instant Loan during onboarding.
Apply via Singpass, and receive a virtual credit card & Instant Loan access upon approval
- Lowest interest rate starting from 1.28% p.a. (EIR 1.92%*) with short term repayment (less than 1 year) options available
- Flexible repayment options with tenure up to 60 months
- Fast disbursement within 10 seconds
- Loan drawdown size available from as low as S$100
- Once Interest Loan is approved, a Mari Credit Card will also automatically be issued
- *EIR is calculated based on 3 months tenure with lowest Nominal Interest Rate (NIR) at 1.86% p.a., customer’s NIR and EIR may vary based on individual’s personal profile
- Customers must download the MariBank App to view eligibility on running campaigns
- Min. age requirement = 21 years old
- One-time early repayment fee of $100 or 3% of the remaining unpaid principal amount, whichever is higher (or such rate as MariBank may determine) will apply. Interest beyond the current billing cycle will no longer be charged.
- Singpass for digital identity verification (required in the app).
- Mari Savings Account and Mari Credit Card will automatically be opened/issued once Instant Loan is approved.
Personal loan rates
Personal loan rates in Singapore currently start from around 1.6% p.a. (flat), with effective interest rates (EIR) averaging 2.9–3.44% p.a. for borrowers with strong credit profiles. Loan tenures typically range from 1 to 7 years, and many banks now offer same-day approval and disbursement. These rates are influenced by factors such as credit score, income level, employment stability, debt-to-income ratio, loan tenure, and market competition.
Ultimately, rates are personalised to each applicant based on their risk profile, meaning borrowers with higher income and better credit scores enjoy lower interest offers.
Factors that influence personal loan rates
Several key factors determine the interest rate you receive on a personal loan.
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Credit score: Your credit score reflects your financial reliability and repayment history. A higher score signals lower risk to lenders, which can help you qualify for more competitive interest rates. Borrowers with excellent credit often access rates starting from 1.6% p.a., while those with lower scores may face higher rates.
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Income level: Lenders assess your income to gauge repayment ability. Higher or stable income indicates stronger financial capacity, allowing banks to offer lower rates. Many lenders in Singapore require a minimum annual income of S$30,000 for the best rates.
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Employment: Consistent employment, especially with reputable companies or long tenures, reduces perceived lending risk. Self-employed or freelance borrowers may face slightly higher rates due to income variability.
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Debt-to-Income Ratio (DTI): This ratio measures how much of your income goes toward debt repayments. A lower DTI means you have more disposable income and are less likely to default, resulting in more favourable loan terms.
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Loan amount and tenure: The size and duration of your loan influence the total interest charged. Shorter tenures and smaller amounts generally have lower rates because they pose less risk to the lender, while longer terms or larger loans attract higher rates.
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Market conditions and competition: Broader economic factors, such as banks’ funding costs and monetary policy, impact loan pricing. When interbank rates are low or competition intensifies, lenders may reduce personal loan rates to attract new customers.
Understanding interest rates
Before applying for a personal loan, it’s crucial to understand how interest is calculated and presented. Lenders in Singapore often advertise their loans using two different types of rates — the flat rate and the EIR. While both describe the cost of borrowing, they measure it in different ways. Knowing the distinction can help you make an informed decision and avoid paying more than expected.
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Flat rate: This rate is calculated based on the original principal amount throughout the entire loan tenure. It doesn’t account for the fact that your outstanding balance decreases as you make repayments. As a result, the flat rate makes the loan appear cheaper than it truly is. For example, a 1.6% p.a. flat rate may sound low, but it doesn’t reflect the declining balance — meaning you’ll pay more interest overall than the rate suggests.
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EIR: The EIR gives a more accurate picture of the true cost of borrowing because it includes compounding and considers that you gradually repay the loan. It factors in not only the nominal interest but also administrative and processing fees. For example, a loan with a 1.6% flat rate could have an EIR of around 3.2%–4% p.a., depending on tenure and fees.
In short, the EIR is the figure you should focus on when comparing personal loans — it reveals the actual percentage you’ll pay on your borrowed funds each year and allows for fair, apples-to-apples comparisons across lenders
Frequently asked questions about personal loans in Singapore
A personal loan allows you to borrow a lump sum from a bank or financial institution and repay it through fixed monthly installments over a set period, typically 1 to 7 years. The loan is usually unsecured, meaning no collateral is required, and can be used for various purposes such as debt consolidation, home renovations, or emergency expenses. You’ll pay interest (either flat rate or effective interest rate) plus any processing fees, depending on the lender’s terms.
The approval process is faster than most other types of credit. Many banks in Singapore now offer instant approval for eligible applicants and can disburse funds within the same day or 1–3 working days, especially if you apply online and have all the required documents ready (e.g. NRIC, income statements, and payslips).
Yes, foreigners can apply for personal loans in Singapore, though eligibility criteria and rates may differ. Most banks require valid employment passes, a minimum annual income of S$40,000, and proof of residence. Some lenders also offer specialised expatriate loan options for long-term work pass holders.
While “easy approval” depends on your creditworthiness, banks like DBS, OCBC, UOB, and Standard Chartered are known for quick online applications and pre-approved offers for existing customers.
A personal loan can positively or negatively impact your credit score depending on how you manage it. Making on-time repayments helps build a strong repayment history and can improve your score. However, missing payments or taking on multiple loans at once can lower your score, as it signals higher credit risk.
No, checking or comparing rates online does not affect your credit score. These platforms use “soft” credit checks or estimated rate tools that don’t appear on your credit report. However, submitting a formal loan application with a bank involves a “hard” inquiry, which may cause a temporary, minor dip in your score.
The advertised rate (also called the flat rate) represents the basic interest charged on the original loan amount and doesn’t account for the declining balance or fees. The EIR, on the other hand, includes compounding and processing fees — giving a clearer picture of the true annual cost of the loan. For example, a 1.6% flat rate could translate to an EIR of 3–4% p.a., depending on the loan’s tenure and fees.
Relevant articles
What’s the Average Personal Loan Interest Rate in Singapore?
In the financial hub of Singapore, securing the best interest rate for a personal loan is crucial, especially with rates fluctuating based on one's credit profile. This guide offers insights into navigating these waters, helping you secure favourable terms amidst varying economic conditions.