Personal Loan Calculator Singapore : Estimate Monthly Repayments & Total Cost

Why This Personal Loan Calculator Matters

Borrowing a personal loan is a significant financial choice especially in Singapore, where interest rates, processing fees and borrowing limits vary widely across banks and licensed lenders. Using a personal loan calculator helps you clearly understand your monthly instalment, total interest cost, and how different loan terms affect your repayment strategy.

With this calculator, you can estimate your monthly commitment instantly by adjusting your desired loan amount, interest rate and repayment period. It also lets you compare various scenarios such as shorter versus longer tenures so that you can make confident, informed borrowing decisions.

How to Use This Calculator

• Enter the loan amount: Input the amount you plan to borrow in Singapore dollars.
• Choose an interest rate: Input the annual rate (typically provided as EIR or flat rate by lenders).
• Select the loan tenure: Choose the repayment duration in months or years.
• Calculate your results: View your monthly instalment, total interest cost and total repayment amount.

Use the output to compare combinations of loan amount and tenure to find an option that aligns with your budget. If you know your maximum affordable monthly repayment, you can also work backwards by adjusting the inputs until the calculator displays a comfortable monthly payment.

Important Factors to Consider Before Applying

• Effective Interest Rate (EIR): This reflects the true cost of borrowing, including fees and reducing-balance interest.
• Flat rate vs EIR: Flat rates may appear lower, but EIR gives the more accurate picture.
• Loan tenure: Longer tenures lower monthly payments but increase the total interest paid.
• Hidden fees: Processing fees, admin charges and early repayment penalties vary by lender.
• Eligibility criteria: Income requirements, employment type, credit profile and residency status affect approval.
• Regulatory limits: Borrowing capacity may be restricted by unsecured debt limits and income multiples.

Always ensure that the monthly repayment is affordable even under potential income fluctuations or emergencies. A loan should support your financial plan — not strain it.

Why Use SingSaver’s Personal Loan Calculator

SingSaver aggregates personal loan offers across major banks and licensed moneylenders in Singapore. The calculator is designed to help you model your repayment scenarios before you start comparing actual products. With clear visibility into your projected monthly instalment and total cost, you can identify which loan best fits your financial goals.

Whether you are financing home improvements, covering medical bills, consolidating debt or handling unexpected expenses, this tool gives you clarity and confidence before committing to any loan.

Saver Tips

• Determine how much you can realistically afford each month before choosing your loan amount.
• Consider a shorter tenure if you aim to minimise total interest paid.
• Check for early repayment penalties if you expect to pay down your loan faster.
• Use the calculator to model debt consolidation scenarios if you already have existing debt.
• Compare lenders based on EIR, fees and eligibility conditions — not just headline rates.