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SingSaver compares the best bank personal loans in Singapore that range from 1 to 7-year tenures. Find the lowest interest rates with our free calculator and save instantly. PL
Which banks offer personal loans for foreigners in Singapore? Several major banks such as OCBC, Citibank, Standard Chartered, UOB and others offer foreigner personal loans. However, it is important to note that there is a minimum eligibility requirement for these loans such as your work permit status and your annual income.
- At A Glance: Best Personal Loans in Singapore
- Hold Up. What Do Interest Rate, Eir and Processing Fees Mean?
- DBS/POSB Personal Loan
- Trust Instant Loan
- UOB Personal Loan
- Standard Chartered Cashone
- HSBC Personal Loan
- GXS Flexiloan
- CIMB Personal Loan
- Citibank Quick Cash
Here are the current starting interest rates on offer from the most popular personal loan providers in Singapore. We’ll use the example of a Singapore citizen earning $2,500 a month, who wants to borrow $10,000 and repay it over 3 years. Not mentioned in this table is OCBC’s ExtraCash personal loanwhich brings you up to 5.43% interest rate (EIR 11....
There’s quite a bit of jargon here, so let’s go through some points of confusion that may be swimming around in your head. Interest rates:Notice that interest rates are quoted as “from X%” instead of being stated simply as “X%”? That’s because personal loans are pretty dynamic as they all depend on factors such as 1. Your credit history 2. How much...
The DBS/POSB personal loan is only open to existing DBS/POSB customers.If you already have (1) a DBS/POSB Cashline account or have a DBS/POSB credit card and (2) credit your salary into a DBS or POSB deposit account, you can get the cash disbursed instantly. The loan is open to Singaporeans and PRs, as well as foreigners with DBS/POSB Cashline or c...
When they say “instant”, they mean it. Trust’s personal loan, called Trust Instant Loan, disburses cash to you in just 60 seconds with the Trust credit card. This is how it works: You have a Trust credit card with a certain available credit balance at any one point in time. The Trust Instant Loan converts a portion of that balance into cash for you...
UOB’s personal loan is only open to existing UOB credit cardholders or CashPlus customers who are Singaporeans, PRs aged 21 to 65. You’ll also need to be a salaried worker earning at least $30,000a year. Not an existing UOB customer? You’ll have to get a UOB credit card or CashPlus to apply for a UOB Personal Loan. The interest rate is from 2.88% p...
Standard Chartered CashOne personal loanis open to Singapore Citizens, PRs and foreigners with a Singapore Employment Pass aged 21 to 65. The barriers to entry for the Standard Chartered CashOne personal loan are slightly lower than for other banks. The minimum annual income requirements are $20,000 for Singaporeans and PRs (that’s lower than for o...
HSBC’s personal loanis open to Singaporeans and PRs aged 21 to 65 years old with an annual income of $30,000 and above for salaried workers, and $40,000 for self-employed or commission-based workers. Foreigners must earn at least $40,000a year and have an employment pass with at least 6 months’ validity. The best part about HSBC’s personal loan is ...
GXS is a digital bank that’s 60% owned by Grab and 40% owned by Singtel. Now, don’t be dissuaded by the idea of a digital bank. Like any regular bank, GXS offers customers a personal loan—and a pretty good one at that. With a loan tenure between 2 and 60 months, GXS FlexiLoan interest rates start from2.99%p.a., with an EIR of 5.65% p.a.. This is on...
The CIMB Personal Loanis another personal loan that comes with no processing fees—if you take a loan amount of at least $5,000. Smaller loan amounts (the minimum is $2,000) will be subject to a processing fee of 1% and a super high interest rate of 9%—that’s an EIR between 16.17% to 18.15%! For higher loan amounts, CIMB offers rates from 2.80% (EIR...
The 3.45% (EIR: 6.5%) Citibank Quick Cashis only available to customers who are completely new to Citibank loans. If you already have a Citibank loan, you’ll be given a higher interest rate. Just log into the Citi Mobile App, key in the amount of cash you need and you can get the funds instantly. Citi Quick Cash is open to Singapore Citizens and PR...
- Joanne Poh
DBS offers the best personal loan in Singapore with lower interest rates. Apply now and receive up to 2% cashback on approved loan amount.
CIMB Personal Loan stands as one of the best personal loan options in Singapore, specifically crafted to empower your financial journey.
Personal. Home. Car. Student. Loan Services. All personal loans. Cash-on-Instalments. Convert the available limit on your credit line or credit card into fixed instalments. ExtraCash Loan. An affordable instalment personal loan for your one-time borrowing needs. EasiCredit. A line of credit for standby cash when you need it. Balance Transfer.
Aug 9, 2023 · 1. Standard Chartered stands out as one of the top banks for obtaining a personal loan in Singapore, especially for salaried employees. If you’re a Singaporean, the application process is streamlined through the use of your Singpass (they assess your CPF contributions) , and funds are typically made available within a working day.
