Best Personal Loans in Singapore with Low Interest Rates 2025
Updated: 2 Jul 2025
Loan | Monthly Repayment | SingSaver Reward | Annual Interest Rate | Total Cost of Loan | EIR | |||
|---|---|---|---|---|---|---|---|---|
 | Standard Chartered CashOne Personal Loan | S$294 | S$180 | 1.90 % | S$570 | 3.63 % p.a. | ||
 | HSBC Personal Loan | S$296 | S$130 | 2.20 % | S$660 | 4.00 % p.a. | ||
%5B1%5D.png&w=256&q=75) | Trust Bank Instant Loan | S$294 | S$180 | 1.99 % | S$597 | 3.80 % p.a. | ||
 | CIMB Personal Loan | S$300 | S$200 | 2.68 % | S$804 | 5.06 % p.a. | ||
 | GXS FlexiLoan | S$293 | S$180 | 1.88 % | S$564 | 3.47 % p.a. | ||
 | UOB Personal Loan | S$293 | S$180 | 1.85 % | S$555 | 3.40 % p.a. | ||
 | Citi Quick Cash Program with Ready Credit | S$307 | - | 3.45 % | S$1,035 | 6.50 % p.a. | ||
 | DBS Personal Loan | S$294 | S$550 | 1.99 % | S$597 | 4.43 % p.a. | ||
 | POSB Personal Loan | S$294 | S$550 | 1.99 % | S$597 | 4.43 % p.a. | ||
 | OCBC Personal Loan - Existing OCBC loan customers | S$309 | - | 3.80 % | S$1,140 | 7.49 % p.a. |
- Enjoy interest rates from as low as 1.9% p.a. (EIR: 3.63% 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 4X monthly salary, capped at S$250,000
- 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
- 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)
For SingPass holders applying with MyInfo, 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.
- One of the lowest interest rates from 1.99% p.a (EIR 3.8% p.a) for those earning min. S$30,000 annually.
- No processing fees
- Instant disbursement upon approval to an HSBC bank account
- Get a 1-minute in-principle approval on your HSBC Personal Loan
- Max. loan amount equal to 90/95% of approved credit limit at time of application
- Min. loan amount of S$1,000
- Option to borrow at a slightly longer loan tenure of 7 years
- Early repayment fee: 2.5% of the repayment 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 due date
1. NRIC (Front & Back)
2. 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)
3. 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.
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- LOWEST Interest Rates in the Market from 1.99% p.a. (EIR 3.80%* 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.
- Receive cash instantly upon approval
- Enjoy attractive interest rates from as low as 2.80% p.a. only and zero processing fees* (EIR from 5.28% p.a.) for 3-5 years
- Min. loan amount of S$2,000
- Min. income for Singaporeans/PRs: S$20,000 p.a.; Min. income for Malaysians (Non-PR): S$30,000
- Early termination fee: 3% of outstanding loan amount or S$250, whichever is higher
- Late payment fee: S$100
- NRIC (Front & Back)
- Salaried Employees: Latest computerised payslip or latest CPF/NOA statements
- Self-Employed: Latest 2 years' NOA
- Commissioned/Variable Income Earners: Latest CPF/NOA statements
- Malaysian NRIC
- Passport (minimum 6 months validity
- latest 3 months pay slip
- Foreign Exchange Notice Declaration Form
For Malaysians, you will need to provide the following supporting documents in the application:
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.
- 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.
- Flexible line of credit up to 4X your monthly income or up to 8X your monthly income if your annual income is S$120,000 and above. (Subject to Citibank's approval)
- Enjoy an interest rate from as low as 3.45% p.a. (EIR 6.50% p.a.) by converting your available credit limit to a loan with Citi Quick Cash on Ready Credit. Terms and Conditions apply. EIR 6.50% p.a. is applicable to new Citibank Ready Credit customers only.
- No processing fees
- Minimum loan of S$1,000
- Tenure: 1 year to 5 years
- Annual fee: S$120 (First year free) on Citibank Ready Credit
- Late Payment charge: S$120*
- Overlimit fee: S$40*
1. A copy of your NRIC (front & back) or work permit (with minimum 6 months validity)
2. A copy of your utility bill, telephone bill, or bank statement with your name and address
3. Income Tax Notice of Assessment
4. Latest original computerised payslip
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 4.17% 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
- Enjoy personalised rates from as low as 1.99% p.a. (EIR 4.17% 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
- 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. Salaried employees: Latest 9 months’ CPF contribution history statement OR latest 1 year Income Tax Notice of Assessment or latest computerised payslip or salary crediting into DBS/POSB account
3. Self-employed individuals: Latest 1 year Income Tax Notice of Assessment
OCBC Personal Loan - Existing OCBC loan customers
- Existing OCBC loan customers will enjoy interest rates starting from 4.7% p.a.
- Min. loan amount: S$1,000
- Min. income for Singaporeans/PRs: S$30,000 p.a.
- Min. income for Foreigners: S$45,000 p.a.
- Processing fee: 1% of the approved loan amount
- Termination fee: 3% of outstanding principal or S$150, whichever is higher
1.. NRIC (Front & back)
2. CPF contribution history statement (latest 9 months)
3. Latest 1 year Income Tax Notice of Assessment (NOA)
4. Latest computerised payslip or salary crediting
*No additional documents required for existing EasiCredit or Credit Cards customers
Best Personal Loans in Singapore: Top Offers for 2025
Finding the most affordable personal loan in Singapore can be a daunting task. We've curated the best personal loan rates from top banks for 2025 to simplify your search.
Comparing Interest Rates Across Banks
Interest rates vary significantly between lenders. DBS Bank starts at 5.43% p.a., while OCBC Bank begins at 7.49% p.a. Standard Chartered Bank offers rates from 5.84% p.a. for their CashOne Personal Loan.
|
Bank |
EIR (p.a.) |
Loan Tenure |
|---|---|---|
|
DBS |
5.43% |
6 months-5 years |
|
OCBC |
7.49% |
1-5 years |
|
Standard Chartered |
5.84% |
1-5 years |
Features and Benefits of Top Personal Loans
The top personal loans in Singapore come with attractive features. Some offer flexible repayment plans, while others waive certain fees.
Eligibility Criteria for the Best Rates
To secure the best personal loan rates, you must meet specific criteria. Most banks require:
-
Minimum annual income of S$20,000
-
Age between 21-65 years
-
Singaporean citizenship or Permanent Residency
A good credit score can also help you secure lower interest rates and more favourable terms.
Frequently asked questions
Several factors influence personal loan interest rates in Singapore. These include your credit score, income level, employment status, loan amount, loan tenure, and the lender's policies. Generally, a higher credit score and stable income can lead to more favourable interest rates.
To qualify for the best loan rates, you must meet the lender's specific criteria. This often includes a minimum income requirement, a good credit score, a stable employment history, and other financial assessments. Each bank has its own set of eligibility requirements.
To improve your chances of approval and secure a low interest rate, focus on maintaining a good credit score, ensuring a stable income, reducing existing debts, and choosing a loan amount and tenure that aligns with your financial capacity. Building a good relationship with your bank can also be beneficial.
Yes, foreigners working in Singapore can apply for personal loans. However, they may face stricter eligibility criteria and potentially higher interest rates compared to Singaporean citizens and permanent residents.