Get the Lowest Personal Loan Rates in Singapore: From Just 1.56% p.a. (EIR 3.00% p.a.)
Updated: 11 Sept 2025
Loan | Annual Interest Rate | Monthly Repayment | SingSaver Reward | EIR | Total Cost of Loan | ||
|---|---|---|---|---|---|---|---|
 | Starting from 1.56 % | S$291 | S$190 | Starting from 3.00 % p.a. | S$468 | ||
 | Starting from 1.60 % | S$291 | S$290 | Starting from 3.07 % p.a. | S$480 | ||
 | Starting from 1.85 % | S$293 | S$230 | Starting from 3.40 % p.a. | S$555 | ||
 | Starting from 1.99 % | S$294 | S$450 | Starting from 3.80 % p.a. | S$597 | ||
 | Starting from 1.88 % | S$293 | S$180 | Starting from 3.47 % p.a. | S$564 | ||
 | 1.86 % | S$293 | - | 3.56 | S$558 |
💰📉 Loan Rates Hit 5-Year Low: Is Now the Right Time for Singaporeans to Borrow? |
| Singapore loan rates have plunged to their lowest in 5 years—below 2% p.a. Take advantage of today’s reduced borrowing costs to tidy up high-interest debts, fund a home upgrade or cover big-ticket expenses at a fraction of the usual rate. Don’t miss this window to lock in lower repayments while rates stay low. |
- 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
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.
- Enjoy the lowest headline rate in the market, starting from 1.60% p.a. (EIR: 3.07% 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.
- Enjoy interest rates as low as 1.85% p.a (EIR from 3.40% 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.
- Enjoy personalised rates from as low as 1.99% p.a. (EIR 3.80% p.a.)
- 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
- 1.99% p.a. loan rates only applicable for loan tenure of 36 months and above. Also for selected customers only.
- 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.
- No Fees Interest Rates from 1.88% p.a. (EIR from 3.47% p.a.). Promotional rate valid until 31 July 2025.
- 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.
Mari Credit Card Instant Loan
- Lowest interest rate starting from 1.86% p.a. (EIR 2.79%*) 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
- 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).
- MariBank account and Mari Credit Card are mandatory; both are provided during Instant Loan application if you don't already have them
Why Apply Through SingSaver
SingSaver isn’t just another comparison site — we’re Singapore’s leading financial marketplace, built to help you find the best deals quickly, securely, and transparently.
- Trusted by 1.3M Singaporeans – Join over 1 million Singaporeans who’ve used SingSaver to compare, apply, and save.
- Exclusive rewards – Save up to S$1,749 in interest and rewards, simply by picking the best deal for your needs.
- 100% Free & Secure – Free to use, with bank-level encryption and data protection, so your personal information is always safe.
Are You Eligible for These Loans?
Check if you meet the basic criteria to apply and start saving today.
- Eligibility – Open to Singaporeans, Permanent Residents and Foreigners*.
- Minimum income – You must earn at least S$20,000** annually, though requirements may vary by provider.
- Healthy Credit Score – A good credit score helps you qualify for better rates.
*Foreigners with a valid employment or employment pass may apply. Do note that additional income** criteria may apply based on the provider.
Frequently asked questions about personal loans in Singapore
- You’ll be redirected to the bank or lender’s secure site.
- Fill out your application and submit the required documents.
- The provider will review your details and contact you with the outcome.
- It’s fast, secure, and you’ll hear back directly from the lender.
A personal loan provides you with a lump sum of money that you repay with interest over a set period. You'll make regular monthly repayments until the loan is fully repaid.
When it comes to how long it takes to get a personal loan, approval and disbursement time can vary between lenders. Some lenders offer same-day or next-day approval and disbursement, while others may take a few days to process your application. However, before taking on a loan, it is important to know if you’re eligible. Pre-qualify with SingSaver to save time and avoid applying for loans you’re unlikely to get.
Yes, foreigners can apply for personal loans in Singapore, but they may have to meet additional eligibility criteria, such as having a valid work pass and a minimum income.
Different banks have different eligibility criteria for personal loans. Some banks may have more lenient requirements than others. However, as a general rule of thumb, banks require a minimum annual income of S$30,000 for Singaporean citizens. Online lenders may also have more flexible criteria compared to traditional banks.
Taking out a personal loan can affect your credit score in both positive and negative ways. Making timely repayments can improve your credit score, while late payments or defaulting on the loan can negatively impact your score.
SingSaver partners directly with banks and licensed lenders, using proprietary comparison tech to scan real-time offers — so you always see the lowest available rates, all in one place.
No, checking rates on SingSaver won’t affect your credit score — it’s a soft inquiry, so you can compare offers freely without any impact.
For more details, do visit our page to know more information.
The advertised interest rate shows the base cost of the loan, but the Effective Interest Rate (EIR) includes fees and reflects the true yearly cost — making EIR the better figure for comparing loan offers.
SingSaver gives you more with your application — enjoy exclusive perks like cashback, vouchers, and gifts!
Find Your Lowest Rate & Get up to S$1,850!
Apply for any eligible personal loan via SingSaver and get cashback to maximise your savings!