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SingSaver's Providers

HSBC Personal Line of Credit

Welcome Gift
Welcome Gift:
Enjoy promotional rate for balance transfer at 0% with processing fee of 1.5% (EIR 3.26% p.a)

Features

High loan amount of up to $100,000
No guarantor or collateral required
First year annual fee waiver.
Annual Fee Waived of 2 years waived for HSBC Platinum and Revolution Credit Card holders
Get access to cash via withdrawal from ATM, Funds Transfer via iBanking, swiping your Debit Card or complimentary Personal Line of Credit chequebook
Enjoy promotional balance transfer rate of 0% with processing fee of 1.5% (EIR 3.26% p.a.) for a tenure of 6 months

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.

UOB CashPlus

Features

High loan amount of upto $200,000 or 6x monthly salary (whichever is lower)
Apply online and receive same day approval
No fixed tenure; monthly minimum repayment of 3% of the statement balance or $30
Annual Fee of $80 waived for first year
Lowest Flat Rate: 17.95%

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.

Maybank CreditAble

Features

High loan amount of upto 4x monthly salary (whichever is lower)
Flat Interest Rates as low as 9% p.a. for first year
No fixed tenure; monthly minimum repayment of 3% of the statement balance or $30
Annual Fee Waived for first 2 years
Lowest Flat Rate: 9%

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.

DBS Cashline

Features

*Must not hold existing Cashline, and must not have cancelled Cashline within the last 12 months from date of application
Pay back the borrowed amount anytime when withdrawing directly from Cashline at 1.65% per month or take up a Balance Transfer at 0% p.a. for 6 to 12 months
Alternatively, choose to take up a Personal Loan on Cashline at 5.88% p.a. - 7.99% p.a. with monthly repayment of 1-5 years.
Loan up to 4X your monthly salary or 10X if your monthly salary is more than S$120,000.
Annual Fee of S$100 waived for first year.

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.

OCBC Flexible Repayment (EasiCredit)

Features

High loan amount of upto $200,000 or 6x monthly salary (whichever is lower)
No fixed tenure; monthly minimum repayment of 3% of the statement balance or $50
Lowest Flat Rate: 19.98%

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.

Citibank Ready Credit

Features

Enjoy promotional interest rate of 3.99% p.a. (EIR 7.5% p.a.) for Citibank Ready Credit PayLite with min. loan amount of $20,000 and loan tenure of 3 years only
High loan amount of up to $150,000 or 4x monthly salary (whichever is lower)
No fixed tenure; monthly minimum repayment of 3% of the statement balance or $45
Annual Fee of $100 waived for first year
Effective 15 April 2018, Citibank Ready Credit cheque book will be provided upon customer request via Citibank Online.

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.
SingSaver compares the best Personal Loans in Singapore that range from 1-year to 7-year tenures. The effective interest rate (EIR) you can enjoy from the loans on our site range from 7.0% p.a. to 18.72% p.a. The EIR of your loan will depend on the annual interest rate (or bank advertised nominal interest rate) and the tenure of your loan. For example: a loan of S$10,000 over 3 years at 3.88% p.a. nominal interest would equate to monthly repayments of S$310.11, and the total cost of the loan that you pay back would be S$11,164. This is not inclusive of any administrative or processing fees that may apply.

Need some help?

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What is a Credit Line and how does it work?

A credit line, or a personal line of credit, is a pool of funds you can tap when the need arises. Just like having a credit card, you have a maximum credit limit on your credit line and you may be charged an annual fee.

What is the difference between the loan and a line of credit?

A line of credit is different from a regular personal loan because the latter gives you the cash right after getting approval. With a credit line, you can get cash via an ATM or complimentary cheque book whenever you need it, although you can also start using it upon the moment of approval.

Another major benefit of a credit line is that it can be flexible, many of the personal line of credit offers from banks here in Singapore set a minimum payment (for example 3% of outstanding balance) so payments can be light.

What is the total credit line?

The limit on your credit line can go up to 4 times the monthly income for the typical borrower. If your annual salary is high enough, you may qualify for a higher limit on your credit line. Unlike a personal loan, your credit line is not disbursed to you. Rather, you are free to draw down your credit line, up to its stipulated limit. This makes a credit line slightly more flexible to use, as you are free to withdraw from the account whenever you need.

A credit line is often bundled with a personal cheque book that you can use for your needs. You will also get an ATM card so you may make cash withdrawals on your own.

How do you pay back a line of credit?

Unlike a personal loan, a line of credit typically has flexible repayment schemes. With a line of credit, you can withdraw cash whenever you need, and repay whenever you want to, with no early repayment fee. Some banks allow you to continue the line of credit as long as you just pay off the interest for the amount of credit borrowed. Others, however, require you to pay off both the interest and principal (amount borrowed) at the end of the loan term.

Confused by terms used in Personal Loan?

Glossary terms to know for first-time personal loan applicants