Personal Loan Resources: Understanding Personal Loans in Singapore

In Singapore, personal loans are unsecured loans that allow you to borrow a fixed amount and repay it in installments over time. Interest rates and loan terms vary by lender.

You can have multiple personal loans as long as you meet the lender’s eligibility criteria. However, taking on too many loans may negatively affect your credit score and financial health.

Most lenders require a bank account to disburse funds and set up repayments. While it's rare, some non-bank lenders may offer alternative options, but terms may be less favorable.