Personal loan advertising in Singapore is built around one number, the flat interest rate, and it is the number that matters least. What you actually pay is the EIR, and the gap between the two is roughly double: Standard Chartered's headline 0.90% p.a. is an EIR of 1.75% p.a., DBS's 1.48% is an EIR of 3.22%, and OCBC's 1.98% is an EIR of 4.19%. Rank the market on EIR instead and the order changes. Standard Chartered's CashOne still leads on the published EIR at 1.75% p.a., but that figure is quoted before its S$199 first-year annual fee; include it and the bank's own example gives 2.15% on a S$20,000 five-year loan, which is above UOB. Its SG61 cashback ended on 30 September with nothing in its place. UOB sits second at an EIR of 1.93% p.a. with processing fees waived on every tenor, but its "up to 2%" cash rebate is a two-rung ladder: 1.00% until your loan reaches S$50,000, 2% above it, and its October terms run 1 to 31 October. Third is the product most roundups miss: CIMB's own Personal Loan, which is a different thing from its card-linked CashLite, at 1.00% p.a. (EIR from 1.94% p.a.) with no processing fee, no CIMB card or account required, and an income bar of just S$20,000. HSBC is the outlier on tenor: 1.3% p.a. (EIR 2.5%) stretching to seven years, the longest here, though the line of credit it runs on costs S$120 a year after the first and 2.5% to redeem early. Trust has cut its published rate to 1.00% p.a. and, alone on this page, quotes its 2.28% EIR with its own 0.88% annual fee already inside it. Below the leaders, DBS/POSB pays a flat 3% unlimited cashback on loans of S$10,000 and above, and GXS will lend from S$200, the smallest minimum on this list. Every rate, fee and promotion below was verified against the bank's own site and promotion terms on 29 September 2026 and re-checked on 30 October.
Every bank here advertises a flat rate. What you actually pay is the EIR, and it is roughly double. Ranked on EIR, this is the whole market.
> Quick view: the lowest published EIR is Standard Chartered CashOne at 1.75% p.a. (advertised as 0.90% flat), but that excludes its S$199 first-year fee, which makes UOB and CIMB cheaper below about S$20,000. Above S$30,000, DBS/POSB's uncapped 3% cashback is worth more than any rate gap on this page.
The cheapest personal loan in Singapore on published EIR. RATE: from 0.90% p.a. flat, EIR from 1.75% p.a.TENURE: 1 to 5 years.FEE (READ THIS, IT CHANGES THE RANKING: S$199 annual fee in the first year, deducted straight from your approved loan amount, then S$0 in subsequent years) though Standard Chartered charges S$50 instead if a minimum payment went unpaid in the preceding 12 months. Crucially, the 1.75% EIR is quoted *before* that annual fee. Standard Chartered's own worked example puts the EIR at 2.15% p.a. once the S$199 is included, on an average S$20,000 loan over five years, which is above UOB's 1.93%. So the "cheapest on EIR" crown holds on the published rate, but on the all-in cost it only holds once the loan is large enough for a fixed S$199 to disappear into it. On S$10,000 the fee is worth about 2% of the loan; on S$50,000 it is negligible.ELIGIBILITY: minimum annual income S$30,000 for Singaporeans and PRs, S$90,000 for foreigners.NO BORROWER PROMOTION RIGHT NOW: the SG61 cashback ladder (up to 3.61%, 13 July to 30 September 2026) has ended, and on our 17 October check neither the CashOne page nor Standard Chartered's promotions page shows a replacement. The only live loan offer is a member-get-member referral that pays an existing borrower up to S$200 for each friend who takes a loan, running to 31 December 2026.BEST FOR: larger loans (S$30,000 and up) over 3–5 years, where the fixed S$199 fee shrinks to almost nothing against the lowest published EIR here.
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Second on EIR and the cleanest fee structure on this list, there is no processing fee on any tenor and no annual fee at all, so what you see is genuinely what you pay. RATE: from 1.00% p.a. flat, EIR from 1.93% p.a. UOB is also unusually honest about the top of its range, publishing a maximum of 8% p.a. (EIR 17.62% p.a.), a useful reminder that the headline is the floor of a band, not a quote.TENURE: 1 to 5 years.ELIGIBILITY: minimum annual income S$30,000 for Singapore Citizens and PRs.CURRENT PROMO, AND THE HEADLINE IS THE TOP RUNG: the "up to 2%" cash rebate is two tiers, not one rate. UOB's own terms, updated 1 November 2026, pay 1.00% of the approved loan amount on S$10,000 to just under S$50,000 (up from 0.50% in September), and 2.00% only from S$50,000, on 36-, 48- or 60-month tenors, with the promotion running 1 to 30 November 2026 and the loan approved inside that window. On S$30,000 that is S$300, not the S$600 the headline implies. Above S$50,000 the 2% is uncapped: UOB's worked example pays S$5,000 on a S$250,000 loan over three years.THE CONDITIONS: you must already hold, or successfully apply online for, a UOB credit card or CashPlus account; the application must go directly through UOB's own Personal Loan page, so an aggregator such as MoneySmart or SingSaver costs you the rebate, and so does applying inside UOB Personal Internet Banking; and if you cancel the loan within 12 months of approval, or make any early repayment, partial or full, UOB may reclaim the entire rebate by debiting it from your accounts.WORTH KNOWING: without the S$199 fee that Standard Chartered charges, UOB is usually the better maths on loans below about S$20,000, even though its EIR is marginally higher.BEST FOR: anyone who wants zero fees and no fine print on the rate itself, and, on the rebate, loans of S$50,000 and up where the 2% is uncapped.
Cash rebate in two tiers, 1 to 30 November 2026 (approval inside the window): 1.00% of the approved amount on S$10,000 to under S$50,000, and 2.00% from S$50,000 (uncapped), on 36-, 48- or 60-month tenors. So S$30,000 earns S$300, not S$600. Must hold or apply online for a UOB credit card or CashPlus account, and apply directly on UOB's own Personal Loan page: aggregators and UOB Personal Internet Banking do not qualify. Cancelling within 12 months or repaying early lets UOB claw the rebate back. Rate from 1.00% p.a. flat (EIR from 1.93% p.a.), processing fee waived on all tenors.
Valid till 30 Nov 2026
Easy to miss, because CIMB also sells CashLite further down this page and the two are completely different products. This one needs no CIMB credit card and no CIMB bank account, and it is far cheaper. RATE: from 1.00% p.a. flat, EIR from 1.94% p.a., on tenures of 12, 24, 36, 48 or 60 months, with zero processing fee. That sits a hair above UOB's 1.93% and below everything else here except Standard Chartered's published 1.75%, and unlike Standard Chartered there is no annual fee to add back.SHORT TENURES ARE THE TRAP: on 3- and 6-month loans CIMB charges 0% interest but a one-time processing fee from 0.99%, which works out at an EIR from 5.99% p.a. Borrowing short is the expensive option here, not the cheap one.LOAN SIZE: S$2,000 to S$200,000.TENURE: 3 to 60 months.ELIGIBILITY: age 21 to 70, minimum annual income S$20,000 for Singaporeans and PRs, or S$30,000 for Malaysians holding a valid Singapore work pass. That S$20,000 bar ties GXS for the lowest on this page and sits S$10,000 below Standard Chartered, UOB, Citi and Trust, while the age ceiling of 70 matches CashLite as the widest here.CURRENT PROMO: cashback of 0.48% on approved loans of S$15,000 to S$49,999 and 1.50% on S$50,000 to S$149,999, rising to 1.50% capped at S$2,500 (or 1.88% capped at S$2,888 for CIMB Preferred clients) from S$150,000. It applies only to 36-, 48- and 60-month tenures; loans of 3 to 24 months earn no cashback at all, and CIMB's product page gives no end date, but its current terms document, re-issued after September, runs the promotion from 28 March to 30 November 2026, with approval needed by 30 November. The cashback is paid into the loan repayment account only after 6 months of prompt repayment, and CIMB can take it back if the loan is closed within a year of approval. Applications made through an aggregator such as MoneySmart, SingSaver or Lendela do not qualify unless CIMB names the site as a partner. The 9.9 Special that ran alongside it (0% on 3- and 6-month loans for the first 399 customers) ended on 20 September and has been taken off the page; CIMB now also advertises a referral scheme paying up to S$200 per successful referral, with no cap.HOW MUCH YOU CAN BORROW: the multiple is banded to income, from 2x monthly income at S$20,000 to S$29,999 a year up to 8x above S$120,000, and the published maximum EIR is 28.06% p.a.BEST FOR: borrowers who want a near-lowest EIR with no annual fee and no card to open, applicants under the S$30,000 income bar who need more than GXS's small amounts, and anyone aged 66 to 70.
Cashback up to S$2,888 on approved loans taken over 36, 48 or 60 months: 0.48% from S$15,000, 1.50% from S$50,000, and 1.50% capped at S$2,500 (1.88% capped at S$2,888 for CIMB Preferred) from S$150,000. Loans of 3 to 24 months earn no cashback. The terms run 28 March to 30 November 2026 (approval by 30 November) and exclude aggregator applications (MoneySmart, SingSaver, Lendela). The 9.9 Special on 3- and 6-month loans ended on 20 September. Rate from 1.00% p.a. flat (EIR from 1.94% p.a.) on 12-60 month tenures with zero processing fee. Loans S$2,000-S$200,000, ages 21-70, minimum annual income S$20,000. No CIMB card or account required.
Valid till 30 Nov 2026
The Standard Chartered and FairPrice digital bank's loan product, approved inside the Trust app in minutes, and the entry that moved most since our last check. RATE: from 1.00% p.a., EIR 2.28% p.a., quoted on Trust's own page as running now till 30 November 2026 (extended again from 31 October) and footnoted "for existing customers only", so a new applicant's offer may be higher. The number worth pausing on is that EIR: alone on this page, Trust quotes it inclusive of its own 0.88% first-year annual fee, which its footnote states outright, so 2.28% is an all-in figure where Standard Chartered's 1.75% and everyone else's are before fees. On a like-for-like all-in basis that puts Trust fourth here, behind UOB, CIMB and, at S$20,000 and up, Standard Chartered. We published 2.22% p.a. at our September check; the live page now reads 1.00%.TENURE: 3 to 60 months, with repayments charged to your Trust credit card bill.ELIGIBILITY, NOW WIDER: existing customers still need a Trust credit card with enough available limit, but Trust states that Instant Loan is now open to new Trust customers too, Singapore citizens, PRs and foreigners alike. Age 21 to 65; minimum annual income S$30,000 for Singapore citizens and PRs, S$60,000 for foreigners on a valid work pass.THREE FEES TO PRICE IN: the 0.88% first-year annual fee charged on your loan amount to your credit card (on loans taken from 25 February 2026; earlier loans have none), a S$50 fee on each later loan anniversary if a credit card minimum payment went unpaid in the preceding 12 months, capped at S$100 a calendar year, and a 3% early repayment fee on the outstanding principal if you settle early. Only Citi's S$100-or-3% cancellation fee bites harder, and that exit fee is the reason to think twice if you expect a bonus or windfall mid-tenure.PROMO ENDED: the scratch card worth up to S$10,000 cashback on an Instant Loan of S$15,000 or more ran from 15 June to 31 October 2026 and was no longer on Trust's page on 2 November.BEST FOR: borrowers who want a low EIR with the fee already counted into it, and Trust cardholders who want money the same day and will run the loan to term.
Rate from 1.00% p.a. (EIR 2.28% p.a.), quoted now till 30 November 2026 and footnoted as an existing-customer rate. That EIR is the only one on this page quoted inclusive of the lender's own fee, the 0.88% first-year annual fee. Tenure 3 to 60 months, and Instant Loan is now open to new Trust customers as well as existing cardholders. The scratch-card cashback promotion ended on 31 October 2026. Other fees: S$50 on a later loan anniversary if a card minimum payment was missed in the preceding 12 months, capped at S$100 a year, and a 3% early repayment fee on outstanding principal.
Valid till 30 Nov 2026
The pick if your priority is a low monthly repayment rather than the lowest total interest. RATE: promotional rate from 1.3% p.a. flat, EIR 2.5% p.a., advertised with zero processing fee, though see the fees note below before you take that at face value.TENURE: 1 to 7 years, every other bank on this list stops at 5, and those two extra years cut the monthly instalment meaningfully (S$40,000 over 7 years is roughly S$520 a month before interest, versus about S$670 over 5). The trade-off is that you pay interest for two more years, so the total cost is higher even at the same rate. LIMIT, AND THE 8x IS BANDED: up to 8 times your monthly income or SGD100,000, whichever is lower, but 8x is reserved for annual incomes of SGD120,000 and above. Between SGD30,000 and SGD120,000 the limit is 4 times monthly income, and for foreigners it is capped at one times monthly income. FEES, WHICH THE "ZERO PROCESSING FEE" LINE DOES NOT COVER: the Instalment Plan is drawn on an HSBC Personal Line of Credit account, which carries an SGD120 annual fee waived only for the first year, and redeeming the plan early costs 2.5% of the redemption amount. HSBC's own FAQ also states that the EIR "includes a processing fee computed based on 1% of approved instalment plan amount, subject to a minimum of SGD88, where applicable".THE PROMOTION, NOW DATED: HSBC's promotion terms, effective 1 October 2026, waive that 1% processing fee (minimum S$88) and offer the promotional rate to eligible applicants who apply between 1 October and 31 December 2026 and are approved by 31 January 2027. The terms are written for existing customers whose line-of-credit account is in good standing, so if you are new to HSBC, confirm you qualify before you count on the waiver. The promotional rate band runs from 1.3% p.a. (EIR 2.5%) to 9.3% p.a. (EIR 17.0%), and HSBC says it will SMS for your consent if your rate lands above 1.3%.ELIGIBILITY, THE CATCH: HSBC's income bar is the highest here for most applicants. Existing HSBC customers holding at least S$50,000 in total relationship balance need S$30,000 a year if salaried, or S$40,000 if self-employed, but foreigners need S$65,000 even in that tier. Everyone else (new customers, and existing customers below that balance) needs S$65,000 a year regardless of nationality. The 1.3% promotional rate is also positioned around HSBC Premier qualification, so confirm which rate you personally qualify for before applying.BEST FOR: existing HSBC customers, especially Premier, who want to spread a large loan over 6–7 years.
Promotional rate from 1.3% p.a. flat (EIR 2.5% p.a.) on tenors from 1 to 7 years, the longest tenor on this list. The rate band runs to 9.3% p.a. (EIR 17.0%) and the 1.3% tier is positioned around Premier qualification, so check your personal rate at application. Borrowing limit is 8x monthly income or SGD100,000, whichever is lower, but 8x needs an annual income of SGD120,000 or more (4x from SGD30,000, 1x for foreigners). Fees the headline skips: the required Personal Line of Credit account charges SGD120 a year after a first-year waiver, early redemption costs 2.5%, and HSBC's own FAQ says the EIR includes a 1% processing fee, minimum SGD88, where applicable. HSBC's promotion terms (effective 1 October 2026) waive that fee and set the promotional rate for eligible applicants who apply 1 October to 31 December 2026, with approval by 31 January 2027.
Valid till 31 Dec 2026
Not the cheapest rate, but the most valuable single promotion on this page for anyone borrowing S$30,000 or more, because the cashback is uncapped. RATE: from 1.48% p.a. flat, EIR from 3.22% p.a.; the rate you are offered is personalised to your credit profile and you can see yours by logging into DBS iBanking or digibank before you commit. PROMO, 3% UNLIMITED CASHBACK: you need a minimum approved loan of S$10,000 and a minimum tenure of 36 months. On S$30,000 that is S$900; on S$60,000 it is S$1,800, with no cap.THE CONDITIONS THAT TRIP PEOPLE UP: the application must be submitted and approved through the self-apply online platform, applications made through branch staff or other assisted channels do not qualify; and the promo code DBSPL must be entered in the promo code field during the online application. Note the code changed: the version of this promotion that ran to 31 January 2026 used POSBPL, and the T&Cs republished on 1 August 2026 replaced it with DBSPL. Enter the old one and you get the loan without the cashback. The current promotion period runs 2 November 2026 to 28 February 2027 (T&Cs republished 1 November 2026, still code DBSPL), and DBS has also dropped the two conditions the earlier version carried: you no longer need to be a DBS PayLah! user, and you no longer have to opt in to DBS marketing. The cashback is one-time regardless of how many loans you take, and lands in your DBS Cashline or DBS/POSB credit card account within 180 days of approval. Same-day combined applications across Cashline and a credit card are added together to hit the S$10,000 threshold.BEST FOR: large loans over 3+ years where an uncapped 3% beats a slightly lower EIR elsewhere.
3% unlimited cashback on an approved loan of S$10,000+ with a minimum 36-month tenure, 2 November 2026 to 28 February 2027 (DBS T&C version of 1 November 2026). Enter promo code DBSPL in the promo code field when you apply online. One-time cashback per applicant, credited within 180 days of approval; same-day Cashline and credit card loans combine towards the S$10,000. Rate from 1.48% p.a. flat (EIR from 3.22% p.a.).
Code: DBSPL
Valid till 28 Feb 2027
OCBC's fixed-repayment cash loan, drawn against your existing OCBC credit card or EasiCredit limit rather than applied for from scratch. RATE: from 1.98% p.a. flat, EIR from 4.19% p.a., with a one-time processing fee.TENURE: 1 to 5 years.ELIGIBILITY: you must be at least 21 and the main cardholder of an OCBC credit card, or an OCBC EasiCredit account holder, so this is a product for existing OCBC customers, not a first stop if you bank elsewhere.NO CURRENT PROMO: the up-to-S$1,000 cashback ran 1 August to 30 September 2026, and on our 17 October check OCBC had published nothing in its place. Two panels on the page can mislead you: the August-September cashback block is still displayed, and further down a second panel offers a processing fee waiver and up to 2.0% cashback with its own line reading "Valid till 31 January 2025". Both have ended. With no cashback, OCBC's 4.19% EIR plus a processing fee is more than double UOB's or CIMB's no-fee 1.9%, and DBS's uncapped 3% cashback runs to 31 October.BEST FOR: existing OCBC cardholders who want the money drawn straight from their card or EasiCredit limit and value that convenience over price.
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The most accessible loan on this list for small amounts, and the right answer for sums the banks above will not entertain. RATE: from 2.88% p.a., EIR from 5.45% p.a. FEES: none, no processing fee, no prepayment fee and no late payment fee, which makes GXS the only lender here you can repay early at zero cost.LOAN SIZE: from S$200 up to your approved credit limit, which is genuinely unusual; every other lender on this page effectively starts at S$1,000 and gates its promotions at S$10,000.TENURE: 2 to 60 months.ELIGIBILITY: age 21 to 65, Singapore citizen or PR, minimum annual income S$20,000, which is S$10,000 below the S$30,000 bar at Standard Chartered, UOB, Citi and Trust and level with CIMB's own Personal Loan at number 3.CURRENT PROMO, AN IKEA TIE-UP: new-to-FlexiLoan customers who draw a single instalment loan of at least S$4,000 over 12 months or more, name it "IKEA" and have it paid into their own account at another bank get 1.28% off their prevailing FlexiLoan rate for the first 12 repayments, paid as cashback, plus a S$50 IKEA voucher. The terms run 1 June to 31 December 2026 and the rewards are first-come-first-served while stocks last. Applications through MoneySmart, SingSaver or Lendela are excluded, you need a GXS Savings Account in the month you draw down, and repaying more than the scheduled instalment in the first 12 months forfeits any cashback not yet paid. The SOFLEXI 3% rebate (capped at S$800) ran 25 May to 31 August 2026 and has ended.A WARNING ABOUT THE PAGE: on 29 September 2026 its own hero banner still read "enjoy up to S$488 cashback with GXS FlexiLoan today", while the small print at the foot of the same page dates that S$488 promotion to 1 March 2025 to 8 April 2025. The 'Hot promos' carousel below it is an archive rather than a live list, and it was still displaying Shell vouchers that expired in November 2025, an NEWBT50 balance-transfer offer that ended in March 2026, an EXTRA500 offer from January 2026, a Christmas promotion and a referral scheme that closed on 30 June 2026. A RENOCLUB renovation tie-up is also still shown, quoted at 1.88% p.a. (EIR 3.47%) in one panel and 1.6% p.a. (EIR 3%) in another, with no end date on either, so confirm any GXS offer in the app before you rely on it.BEST FOR: small loans, borrowers under the S$30,000 income bar, and anyone who wants the freedom to clear the loan early without a penalty.
IKEA tie-up, 1 June to 31 December 2026: new-to-FlexiLoan customers who draw a single instalment loan of S$4,000+ over 12 months or more, name it "IKEA" and have it paid to their own account at another bank get 1.28% off their prevailing rate for the first 12 repayments (as cashback) plus a S$50 IKEA voucher, while stocks last. Aggregator applications are excluded and a GXS Savings Account is required. The SOFLEXI 3% rebate ended on 31 August 2026. Its hero banner still advertises "up to S$488 cashback" that its own footnote dates to March and April 2025, and the promotions carousel below displays several more long-expired offers, so check the app before relying on any of them. Standing terms: rate from 2.88% p.a. flat (EIR from 5.45% p.a.), loans from S$200, tenure 2–60 months, and zero processing, prepayment and late payment fees. Minimum annual income S$20,000, the lowest on this list alongside CIMB Personal Loan.
Valid till 31 Dec 2026
CIMB's instalment loan converts your credit card's available limit into cash repaid over fixed monthly instalments. Check number 3 before you take it: CIMB's own Personal Loan is a separate product at 1.00% p.a. flat (EIR from 1.94% p.a.), needs no card at all, and is cheaper than CashLite at every tenure, so CashLite is worth taking only for the specific reasons below. RATE: new-to-CIMB-cards customers get a promotional rate as low as 2.88% p.a. flat, EIR from 5.43% p.a., on 36- to 60-month tenures, with no processing fee for a limited time. Existing CIMB cardmembers pay from 3.50% p.a. (EIR 6.54% to 6.60% p.a.) on 3- to 5-year tenures, and 4.18% p.a. on 1- and 2-year tenures, so the shorter you borrow, the worse the rate, which is the opposite of most lenders here. It is an unusual case where the new customer is offered materially better terms than the loyal one, so if you already hold a CIMB card, compare against UOB and GXS before defaulting to CashLite.LOAN SIZE: from S$1,000.TENURE: 1 to 5 years.ELIGIBILITY: age 21 to 70, the widest band on this list, and the only one that stays open past 65, which matters if you are approaching or past the usual cut-off. Minimum annual income S$30,000. If you do not already hold a CIMB card, a CIMB Visa Signature is issued to facilitate the loan, so factor in that you are opening a card as part of this, and you can draw at most 90% of your credit limit. CIMB has not published an end date for the current promotional rate. One caution when you read the CashLite page: its own cross-sell panel quotes CIMB Personal Loan at 1.60% p.a. (EIR from 3.07% p.a.), while the Personal Loan product page at number 3 publishes 1.00% p.a. (EIR from 1.94% p.a.). The product page is the one to go by.BEST FOR: borrowers aged 66–70 who are shut out elsewhere, and new-to-CIMB customers taking the 36–60 month promotional rate.
New-to-CIMB-cards promotional rate as low as 2.88% p.a. flat (EIR from 5.43% p.a.) on 36–60 month tenures, with no processing fee for a limited time. Existing cardmembers: from 3.50% p.a. (EIR 6.54%-6.60% p.a.) on 3–5 year tenures, 4.18% p.a. on 1- and 2-year tenures. Loans from S$1,000, ages 21–70. No end date published for the current promotional rate.
The most expensive loan on this list on EIR, included because it has genuinely zero fees to take out. RATE: from 3.45% p.a. flat, EIR 6.5% p.a., and note this rate applies to new Citi credit card or Citibank Ready Credit account holders only. Citi publishes the rate by tenure: 3.56% on 12 months, 3.46% on 24, 3.45% on 36, 3.46% on 48 and 3.48% on 60, but the EIR is 6.50% p.a. at every single tenure, so the tenure you pick changes your monthly instalment, not your effective cost.PROCESSING FEE: 0.00% across every tenure option, with no annual fee, but "no fees" is not the whole story: Citi charges a cancellation fee of S$100 or 3% of the outstanding loan amount, whichever is higher, if you clear the loan early. On a small balance that is a steeper exit than Trust's flat 3%.TENURE: 12 to 60 months.ELIGIBILITY: minimum annual income S$30,000 for Singaporeans and PRs, S$42,000 for foreigners, notably lower than HSBC's S$65,000 for new customers, and the second-most accessible foreigner threshold here after Trust's S$60,000.CURRENT PROMO, EXISTING CARDHOLDERS ONLY: Citi has renewed its GrabGifts voucher offer under a new terms document running 1 October to 30 November 2026. Apply in the Citi Mobile App and a cumulative Quick Cash principal of S$15,000 earns a S$50 GrabGifts voucher, S$50,000 earns S$250 and S$100,000 earns S$600 (two S$300 vouchers), one gift per customer. It is open only to existing Citi credit cardholders or Ready Credit account holders with a Grab account, and the vouchers are redeemed through Citibank Online within four calendar months of 30 November. Note the mismatch: the 3.45% rate above is quoted for new accounts, while the vouchers go to existing ones.BEST FOR: existing Citi cardholders who want a fixed-cost drawdown with no fees to take out and are sure they will run it to term.
Existing Citi cardholders and Ready Credit customers: up to S$600 in GrabGifts vouchers on Citi Quick Cash applied for in the Citi Mobile App, 1 October to 30 November 2026. S$50 at S$15,000 cumulative principal, S$250 at S$50,000, S$600 at S$100,000; one gift per customer, redeemed via Citibank Online within four calendar months of 30 November. Rate from 3.45% p.a. (EIR 6.5% p.a.) with 0% processing fee; settling early costs S$100 or 3% of the outstanding amount, whichever is higher.
Valid till 30 Nov 2026
| Bank | From (flat p.a.) | EIR from | Fees | Tenure | Current offer |
|---|---|---|---|---|---|
| Standard Chartered CashOne | 0.90% | 1.75% | S$199 annual fee (year 1) | 1–5 yrs | No borrower promo since 30 Sep (referral only) |
| UOB Personal Loan | 1.00% | 1.93% | Processing fee waived | 1–5 yrs | 1.00% rebate from S$10k, 2% from S$50k, 1–31 Oct |
| CIMB Personal Loan | 1.00% | 1.94% | No processing fee (12–60 mths) | 3–60 mths | Cashback 0.48%–1.88%, up to S$2,888, till 30 Nov |
| Trust Instant Loan | 1.00% | 2.28% (fee included) | 0.88% yr-1 fee + 3% early repayment | 3–60 mths | Rate and scratch card (min S$15k) both till 31 Oct |
| HSBC Personal Loan | 1.3% | 2.5% | S$120/yr line of credit fee after yr 1 + 2.5% to redeem | 1–7 yrs | Promo rate + processing fee waiver, till 31 Dec |
| DBS / POSB Personal Loan | 1.48% | 3.22% | Personalised | Up to 5 yrs | 3% unlimited cashback, code DBSPL, till 31 Oct |
| OCBC Cash-on-Instalments | 1.98% | 4.19% | One-time processing fee | 1–5 yrs | None since 30 Sep |
| GXS FlexiLoan | 2.88% | 5.45% | No processing/prepay/late fees | 2–60 mths | IKEA tie-up: 1.28% off for 12 mths + S$50 voucher, till 31 Dec |
| CIMB CashLite (card-linked) | 2.88% | 5.43% | No processing fee (limited time) | 1–5 yrs | New-to-CIMB-cards rate |
| Citi Quick Cash | 3.45% | 6.5% | 0% processing fee, S$100 or 3% to settle early | 12–60 mths | GrabGifts up to S$600 (existing cardholders, from S$15k), till 30 Nov |
Singapore's personal loan market is unusually easy to misread, because almost every bank advertises the wrong number.
The figure on the poster is the flat rate: interest calculated on the full original loan amount for the entire tenure, even though your outstanding balance is shrinking every month. The figure that reflects what you actually pay is the Effective Interest Rate (EIR), and it is roughly double the flat rate once fees and the reducing balance are accounted for. The banks are required to publish both, and the difference is not small:
Notice that DBS's flat rate is 64% higher than Standard Chartered's, but its EIR is 84% higher. The gap widens as you go down the table, which is exactly why comparing flat rates flatters the more expensive lenders. Read the EIR, not the poster.
There is one more layer, and almost nobody mentions it: most lenders quote their EIR *before* their own fees. Standard Chartered's 1.75% excludes the S$199 annual fee; the bank's own worked example puts the all-in EIR at 2.15% p.a. on a S$20,000 loan over five years, which is above UOB's 1.93%. Trust is the exception, and it runs the other way: its footnote says the 2.28% EIR is quoted inclusive of the 0.88% first-year annual fee, so it is the one number on this page with nothing left to add back. Because those fees are fixed rather than proportional, the all-in cost falls as the loan grows, which means the genuinely cheapest lender on this page changes depending on how much you borrow: Standard Chartered at S$50,000, UOB at S$10,000.
Fees are not included in the headline, but they are included in the EIR. Standard Chartered's CashOne is the cheapest loan here on EIR and yet it is the only one on this list charging an annual fee: S$199 in year one, deducted from the approved amount, and S$0 thereafter provided you have not missed a minimum payment. UOB waives processing fees on all tenors, and GXS charges nothing for processing, prepayment or late payment, which makes it the only lender here you can clear early at no cost. The two that advertise zero processing fees are not fee-free. HSBC's Instalment Plan runs on a Personal Line of Credit account carrying a S$120 annual fee after a first-year waiver, charges 2.5% of the redemption amount to clear early, and its own FAQ states that the EIR includes a processing fee of 1% of the approved amount, minimum SGD88, where applicable (waived for eligible applicants under its 1 October to 31 December 2026 promotion terms). Citi takes nothing up front but charges S$100 or 3% of the outstanding amount, whichever is higher, to settle early. Trust prices its exit at a flat 3% of outstanding principal, though it is also the only lender whose quoted EIR already contains its 0.88% first-year fee. If there is any chance you will repay ahead of schedule, read the exit fee before the entry rate.
The advertised rate is the lowest published rate, not the rate you will get. Every bank on this list says some version of the same sentence; UOB's is the clearest: the promotional rate "is the lowest published rate and may be different from the interest rate offered to you", with the actual rate set by your credit and income profile, the tenure you pick, and the bank's assessment. UOB's own published range runs from 1.00% p.a. (EIR 1.93%) all the way up to 8% p.a. (EIR 17.62%). Treat the headline as the best case at the front of a range, and check your personalised rate in the bank's app before committing.
Cashback can be worth more than the rate difference, but only at size. On a S$30,000 loan over five years, moving from an EIR of 1.93% to 1.75% saves you roughly S$140 over the whole term. DBS's flat 3% cashback on that same S$30,000 is S$900, paid once. That is why the promotions below matter as much as the rates, and why the minimum loan amounts attached to them (usually S$10,000, S$15,000 at Citi and Trust) are the real gate. Below S$10,000, most of the cashback on this page is simply unavailable to you and the decision goes back to EIR and fees.
Under MAS rules, your total unsecured credit (credit cards, credit lines and personal loans combined) is capped at 12 times your monthly income. Personal loans are unsecured, so a large loan eats into the same limit as your cards. If you are already carrying card balances, that ceiling, not the interest rate, may be what decides how much you can borrow.
Every rate, fee, eligibility rule and promotion on this page was re-verified against the bank's own website and, where one exists, its promotion terms document, on 29 September 2026, and every rate and promotion was checked again on 30 October 2026 (OCBC's as of 17 October, because its site blocked our 30 October check). Standard Chartered's and OCBC's promotions ended on 30 September with nothing in their place. UOB's rebate, Trust's 1.00% rate and scratch card, and DBS run to 31 October; CIMB's cashback and Citi's GrabGifts vouchers to 30 November; HSBC's promotional rate and GXS's IKEA tie-up to 31 December. Personal loan promotions here are refreshed monthly, so confirm the current terms with the bank before you apply.
No rate, EIR or promotion moved since 17 October. Every lender's own page and, where one exists, its terms document still match this page, with two things worth knowing.
Three promotions end tomorrow, 31 October. UOB's cash rebate (its terms, updated 1 October, still run 1 to 31 October, and approval must land inside that window), DBS/POSB's 3% cashback with code DBSPL, and Trust's quoted 1.00% rate and scratch card. None of the three had published November terms on 30 October. DBS's banner says "apply by 1 Nov 2026" while the same page says the promotion ends on 31 October, so treat 31 October as the deadline.
CIMB re-issued its cashback terms for November without changing them. The new document keeps the 28 March to 30 November window and the same tiers, and spells out the payout: the cashback lands in the loan repayment account after 6 months of prompt repayment, and CIMB can claw it back if the loan is closed within a year.
OCBC's site blocked our 30 October check, so its entry stands as checked on 17 October.
Every flat rate and EIR on this page still matches the lender's own site. Two promotions moved, and both make a lender look better than we had it.
Citi renewed its GrabGifts vouchers. We had Citi down as having no promotion after 30 September. A new terms document runs the same ladder from 1 October to 30 November 2026: S$50 at S$15,000 of Quick Cash applied for in the Citi Mobile App, S$250 at S$50,000 and S$600 at S$100,000, for existing Citi cardholders and Ready Credit customers only.
HSBC's promotion now has dates, and a fee waiver. HSBC's promotion terms, effective 1 October 2026, cover applications from 1 October to 31 December 2026 that are approved by 31 January 2027. They waive the 1% processing fee (minimum S$88) that HSBC's FAQ says its EIR otherwise includes, and the top of the promotional rate band is now 9.3% p.a. (EIR 17.0%), down from 9.5%.
Standard Chartered and OCBC still show no borrower promotion. UOB, DBS/POSB and Trust all end on 31 October, so check this page again after that date.
Nothing on the rate cards moved in thirteen days: every flat rate and EIR above matched each lender's own page. The changes are all in the promotions, and the biggest one is the calendar.
What happened on 30 September, checked on 5 October. Three lenders renewed. UOB's rebate is back for 1 to 31 October with a better lower rung, 1.00% instead of 0.50% on S$10,000 to under S$50,000, and still 2.00% from S$50,000; approval must come inside October. CIMB re-issued its cashback terms to run to 30 November. Trust extended its quoted 1.00% rate to 31 October. Three did not: Standard Chartered's SG61 cashback, OCBC's up-to-S$1,000 cashback and Citi's GrabGifts vouchers all ended on 30 September, and at 5 October none of those banks had published a replacement (Citi has since renewed; see the 17 October note above). DBS/POSB's uncapped 3% (to 31 October) is still the richest cashback here at S$30,000 and above.
CIMB's cashback now has an end date, and the 9.9 Special is gone. CIMB's product page still prints no date, but its current terms document runs the Personal Loan Cashback Promotion from 28 March to 30 November 2026 and excludes applications through aggregators such as MoneySmart, SingSaver and Lendela unless CIMB names them as partners. The 9.9 Special (0% on 3- and 6-month loans, first 399 customers) closed on 20 September and has been removed from the page. What CIMB advertises instead is a referral scheme paying up to S$200 per successful referral, with no cap.
GXS does have a live offer. We had GXS down as "no current promotion". Its FlexiLoan page links an IKEA campaign whose terms run 1 June to 31 December 2026: a new-to-FlexiLoan customer who draws at least S$4,000 over 12 months or more and names the loan "IKEA" gets 1.28% off the rate for the first 12 repayments, paid as cashback, plus a S$50 IKEA voucher. It is the only promotion on this page that starts below S$10,000.
Trust's scratch card runs to 31 October, now the same end date as its quoted rate, per the footnote on its Instant Loan page (15 June to 31 October 2026). And CIMB CashLite's existing-cardholder EIR is 6.54% to 6.60% depending on tenure, not a flat 6.60%.
Two pages are still worth reading with suspicion. OCBC keeps a second Cash-on-Instalments panel dated "Valid till 31 January 2025", and GXS's hero banner still advertises "up to S$488 cashback" that its own small print dates to March and April 2025.
CashOne is the loan most people arrive here searching for by name, so here it is without the marketing. The advertised rate is 0.90% p.a. flat, EIR from 1.75% p.a., the lowest published EIR of any personal loan in Singapore right now. Tenures run 1 to 5 years. The minimum income is S$30,000 a year for Singaporeans and PRs and S$90,000 for foreigners. There is a S$199 annual fee in year one, deducted from the approved amount, and S$0 in later years unless a minimum payment went unpaid in the preceding 12 months, in which case it is S$50.
That fee is the part the adverts leave out, because the 1.75% is quoted *before* it. Standard Chartered's own worked example puts the all-in EIR at 2.15% p.a. on a S$20,000 loan over five years: above UOB's 1.93%. Because S$199 is a fixed sum rather than a percentage, it punishes small loans and disappears into large ones: it is worth roughly 2% of a S$10,000 loan and roughly 0.4% of a S$50,000 one. So CashOne genuinely is the cheapest loan on this page at S$50,000, and genuinely is not at S$10,000.
There is no CashOne cashback at the moment. The SG61 ladder, which paid 0.61% to 3.61% depending on loan size from S$18,000, ran 13 July to 30 September 2026, and Standard Chartered's only live loan offer is a referral scheme paying existing borrowers up to S$200 per friend, to 31 December 2026.
Who it is actually for: borrowers taking S$30,000 or more over 3–5 years, who will keep the loan to term. Below about S$20,000, UOB's fee-free 1.93% beats it on the all-in maths, and if you want the biggest cheque rather than the lowest rate, DBS/POSB's uncapped 3% pays more than CashOne's 1.61% rung at the same S$30,000.
If you are borrowing S$30,000 or more over 3–5 years, the cashback decides it: DBS/POSB's uncapped 3% is worth S$900 on S$30,000 and S$1,800 on S$60,000, which beats every rate advantage on this page. If you are borrowing S$10,000-S$30,000, compare Standard Chartered, UOB and CIMB's Personal Loan: Standard Chartered has the lower EIR, UOB and CIMB have no S$199 annual fee, and one of those two usually wins below roughly S$20,000. Do not pick UOB in this band for the rebate alone, because at under S$50,000 it pays 1.00%, not 2%. If you are borrowing under S$10,000, none of the big cashback offers apply and the decision comes down to fees: GXS FlexiLoan lends from S$200 with no fees at all and no penalty for clearing it early, while CIMB's Personal Loan starts at S$2,000 with an EIR of 1.94% and no processing fee, which is far cheaper interest than GXS's 5.45% once you are above its S$2,000 floor. If your monthly cashflow is the binding constraint rather than total interest, HSBC's 7-year tenor is the only one that will lower the instalment further, at the cost of two more years of interest.
Check your personalised rate first. Every bank here publishes a "from" rate and states that your actual rate depends on your credit profile: DBS lets you see yours in iBanking or digibank before committing, and UOB's published band runs all the way to 8% p.a. (EIR 17.62%). Apply through the bank's own page where the promotion requires it: UOB's rebate is void if you route the application through an aggregator or through UOB Personal Internet Banking, and DBS's 3% cashback is void through a branch or any other assisted channel. UOB can also claw its rebate back if you cancel within 12 months or repay early. And remember the MAS cap, your total unsecured credit across cards, credit lines and personal loans cannot exceed 12 times your monthly income.
A lot of people arrive at a page like this already carrying card balances, looking for one loan to clear them all. If that is you, check whether you qualify for a Debt Consolidation Plan (DCP) first, because it is a different product built for exactly this and none of the ten loans above is.
The Association of Banks in Singapore sets the criteria, and they are the same at every participating bank. You must be a Singapore Citizen or PR, earn between S$20,000 and under S$120,000 a year, hold net personal assets under S$2 million, and (the qualifying test) carry total interest-bearing unsecured debt across all your cards and unsecured credit facilities that exceeds 12 times your monthly income. That last one is the catch in both directions: below the threshold you do not qualify for a DCP at all, and above it you are near the MAS borrowing ceiling anyway, so a new personal loan may not be approved.
Not everything can be folded in. Joint accounts, renovation loans, education loans, medical loans and any credit facility granted for business purposes are all excluded from a DCP, because those are treated as purposeful or needs-based borrowing and sit outside the unsecured limits to begin with.
So the practical split: if your unsecured debt is under 12x monthly income, a personal loan from this list at a lower rate than your cards is a reasonable refinancing move. If it is over, a DCP is the product to ask about, and if repayments are already slipping, speak to Credit Counselling Singapore before you take on anything new.
This guide is general information about publicly advertised products, not financial advice. Borrowing costs money; if you are consolidating existing debt or struggling with repayments, speak to your bank or a Credit Counselling Singapore adviser before taking on a new loan.
Standard Chartered's CashOne has the lowest advertised rate at 0.90% p.a. flat, which is an EIR of 1.75% p.a. UOB is next at 1.00% p.a. flat (EIR from 1.93% p.a.), then HSBC at 1.3% p.a. (EIR 2.5% p.a.). Compare on EIR, not the flat rate, but go one step further, because Standard Chartered's 1.75% is quoted before its S$199 first-year annual fee. The bank's own worked example puts the all-in EIR at 2.15% p.a. on a S$20,000 loan over five years, which is higher than UOB's 1.93% with no fees at all. Since the fee is fixed rather than proportional, Standard Chartered wins on a large loan and UOB wins on a small one. CIMB's own Personal Loan is a third option worth checking, at 1.00% p.a. flat (EIR from 1.94% p.a.) with no processing fee and no annual fee. Trust is worth a look for a different reason: its 1.00% p.a. carries an EIR of 2.28% p.a. that is quoted with its own 0.88% first-year fee already inside it, so it is the only figure here you can compare without doing the fee arithmetic yourself. All figures re-checked against each bank's own site on 30 October 2026.
Because the advertised figure is a flat rate, interest charged on the full original loan amount for the whole tenure, even though you are paying the principal down every month. The EIR restates that as the true annualised cost on your reducing balance, and folds in fees. As a rule of thumb the EIR is close to double the flat rate: 0.90% becomes 1.75%, 1.48% becomes 3.22%, 1.98% becomes 4.19%. Banks in Singapore must publish both, so always read the bracketed EIR figure and ignore the poster number.
Probably not, unless your credit profile is strong. Every bank on this list states that the published rate is the lowest available and that your personal rate depends on your credit and income profile, the tenure you choose and the bank's own assessment. UOB is the most transparent about how wide that range is, its published band runs from 1.00% p.a. (EIR 1.93%) to 8% p.a. (EIR 17.62%). DBS lets you see your personalised rate in iBanking or digibank before you commit, which is the safest way to find out what you are actually being offered.
Two limits apply. The product limit is usually a multiple of your monthly salary, and it is banded rather than flat: HSBC advertises up to 8 times monthly income, but 8x needs an annual income of SGD120,000 or more, incomes from SGD30,000 to under SGD120,000 get 4x, foreigners get 1x, and the whole facility is capped at SGD100,000. CIMB bands its Personal Loan the same way, from 2 times monthly income at an annual income of S$20,000 to S$29,999 up to 8 times above S$120,000. The harder ceiling is the MAS rule capping your total unsecured credit (credit cards, credit lines and personal loans combined) at 12 times your monthly income. If you already carry card balances, that shared limit, not the loan product, is often what caps the amount you can take.
Two products now share the lowest bar at S$20,000 a year for Singapore citizens and PRs: GXS FlexiLoan (ages 21 to 65) and CIMB's own Personal Loan (ages 21 to 70). Both sit S$10,000 below the S$30,000 required by Standard Chartered, UOB, Citi, Trust and CIMB CashLite. Which suits you depends on size: GXS lends from as little as S$200 with no processing, prepayment or late payment fees, so it is the practical option for very small amounts, while CIMB starts at S$2,000 but charges an EIR from 1.94% p.a. against GXS's 5.45%, making it far cheaper on anything larger. For foreigners, the thresholds are much higher: S$42,000 at Citi, S$60,000 at Trust, S$65,000 at HSBC for new customers, and S$90,000 at Standard Chartered.
Only one major bank still gates its offer behind a code: DBS/POSB uses **DBSPL** for its 3% unlimited cashback on approved loans of S$10,000 or more over a tenure of 36 months or longer, on applications submitted by 31 October 2026 through the self-apply page. It replaced the older POSBPL code on 1 August 2026, so any roundup still quoting POSBPL is out of date. GXS uses loan nicknames rather than codes: name a first FlexiLoan instalment loan of S$4,000 or more "IKEA" and you get 1.28% off the rate for 12 repayments plus a S$50 IKEA voucher, until 31 December 2026 (its SOFLEXI rebate ended on 31 August); a RENOCLUB renovation offer is still displayed with no end date, so confirm it in the app. UOB, CIMB, HSBC and Trust apply their promotions automatically, with no code to enter (Standard Chartered and OCBC have had no borrower promotion since 30 September; Citi's GrabGifts vouchers, 1 October to 30 November, need no code either but must be applied for in the Citi Mobile App), but several of them only pay it if you apply through the bank's own page. UOB is the strictest: its rebate is void through an aggregator such as MoneySmart or SingSaver and also through UOB Personal Internet Banking, and it can be clawed back if you cancel within 12 months or repay early. Re-checked 30 October 2026.
It depends on one number: whether your total interest-bearing unsecured debt exceeds 12 times your monthly income. Below that, you do not qualify for a Debt Consolidation Plan, and a personal loan from this list at a lower rate than your cards is the sensible refinancing move. Above it, a DCP is the product designed for your situation, and a new personal loan may not be approved anyway, because you are already at the MAS unsecured borrowing ceiling. The Association of Banks in Singapore sets DCP eligibility identically across participating banks: Singapore Citizen or PR, annual income between S$20,000 and under S$120,000, and net personal assets under S$2 million. Note that joint accounts, renovation loans, education loans, medical loans and business credit facilities cannot be consolidated under a DCP.
It depends entirely on the lender, and this is the fee people most often miss. GXS charges no prepayment fee at all, so you can clear a FlexiLoan early at zero cost. Everyone else charges to leave. Citi is the steepest on a small balance, at S$100 or 3% of the outstanding amount, whichever is higher; Trust charges a flat 3% of outstanding principal; and HSBC charges 2.5% of the redemption amount on its Instalment Plan, which is easy to miss because the same page advertises zero processing fees. UOB does not charge an exit fee as such, but repaying early forfeits, and can trigger a clawback of, its cash rebate. If there is any chance of a bonus or windfall during the tenure, check the early repayment clause before you compare interest rates.
Usually not at the amount you are actually borrowing, because almost every headline is the top rung of a ladder. UOB's "up to 2%" is the clearest case: its October terms pay 1.00% until the approved loan reaches S$50,000, so S$30,000 earns S$300 rather than the S$600 the headline suggests. CIMB's "up to S$2,888" needs S$150,000 and Preferred status; S$15,000 to S$49,999 earns 0.48%. GXS's 3% rebate requires a S$10,000 loan and a 12-month tenure despite the S$200 minimum loan size. The genuine exception is DBS/POSB: a flat 3% with no cap, so S$30,000 pays S$900 and S$60,000 pays S$1,800. Work out the cash value at your loan size before letting a promotion decide.
On the published EIR, yes: 1.75% p.a. is the lowest on this page, from an advertised 0.90% p.a. flat. On what you actually pay, it depends on how much you borrow, because CashOne is the only loan here with an annual fee: S$199 in year one, deducted from the approved amount. Standard Chartered's own worked example puts the all-in EIR at 2.15% p.a. on a S$20,000 loan over five years, which is above UOB's fee-free 1.93%. Since S$199 is a fixed sum, it is worth about 2% of a S$10,000 loan and about 0.4% of a S$50,000 one, so CashOne wins at S$50,000 and loses to UOB at S$10,000. Eligibility is S$30,000 a year for Singaporeans and PRs, S$90,000 for foreigners.
It is DBSPL, and it changed. The version of the promotion that ran to 31 January 2026 used POSBPL; the terms and conditions DBS republished on 1 August 2026 replaced it with DBSPL, for applications submitted between 1 August and 31 October 2026. If you enter the old code the loan still goes through; you simply do not get the 3%, which is S$900 on a S$30,000 loan. The other conditions are a minimum approved loan of S$10,000, a minimum tenure of 36 months, and an application submitted and approved through the self-apply online platform; branch and other assisted channels do not qualify. The two conditions the earlier version carried: being a DBS PayLah! user and opting in to DBS marketing: are no longer in the current terms.
GXS FlexiLoan, on this list. It lends from S$200, charges no processing fee, no prepayment fee and no late payment fee, and asks for only S$20,000 in annual income: S$10,000 below the bar at Standard Chartered, UOB, CIMB and Citi. Its rate is higher, from 2.88% p.a. flat (EIR from 5.45% p.a.), but on a small balance the rate difference is worth a few dollars while a fixed fee is worth tens. Do not chase the cashback at this size: almost every promotion on this page needs a loan of at least S$10,000 (GXS's IKEA tie-up, from S$4,000, is the one exception), so below that the decision comes down to fees and how quickly you can clear it, and GXS is the only lender here you can repay early at zero cost.
