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#ScoreBig Summer

Stand to Enjoy 0% Interest on Your Personal Loan for 2 Years*

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1-png-2 From 24 June to 22 July, apply for a participating personal loan
Tell us in the SingSaver reward redemption form how the loan will help you achieve your dream this summer
Check our website on 7 November to see if you’ve won with your inspiring dream

* up to S$1,200 in vouchers for 20 winners. T&Cs apply

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Participating banks: HSBC UPB CIMB Standard Chartered
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#ScoreBig Summer

Stand to Enjoy 0% Interest on Your Personal Loan for 2 Years*

00
Days
00
Hours
00
Minutes
00
Seconds
1-png-2 From 24 June to 22 July, apply for a participating personal loan
Tell us in the SingSaver reward redemption form how the loan will help you achieve your dream this summer
Check our website on 7 November to see if you’ve won with your inspiring dream

* up to S$1,200 in vouchers for 20 winners. T&Cs apply

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Participating banks: HSBC UPB CIMB Standard Chartered
HSBC-3
UOB
cimb_logo
Standard Charterted-1
Calculate your loan repayment
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🎁 Get this deal only on SingSaver
EXCLUSIVE DEAL THAT YOU WON'T FIND ELSEWHERE Instant Approval Up To 7-Year Tenure Instant Loan Disbursement

HSBC Personal Loan

HSBC Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Processing Fee
S$

4 Offers Available

SingSaver March Madness Spin to Win
1x March Madness Spin to Win Chance
1x March Madness Spin to Win Chance

Valid until

31 March 2025

Get up to S$1,399 in cashback & rewards
Apple iPhone 16 Plus 128GB (worth S$1,399)
Apple iPhone 16 Plus 128GB (worth S$1,399)

+ 3 other gift options

Valid until

31 March 2025

Get up to S$1,399 in cashback & rewards
S$1,100 Cash via PayNow
S$1,100 Cash via PayNow

+ 5 other gift options

Valid until

31 March 2025

Live Your Adventure: Sure-Win Spin
Stand to win a business class ticket to London, S$200 GrabGifts Vouchers and more exciting rewards!
Stand to win a business class ticket to London, S$200 GrabGifts Vouchers and more exciting rewards!

Valid until

13 April 2025

EXCLUSIVE DEAL THAT YOU WON'T FIND ELSEWHERE Instant Approval Up To 7-Year Tenure Instant Loan Disbursement

HSBC Personal Loan

HSBC Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Processing Fee
S$

4 Offers Available

SingSaver March Madness Spin to Win
1x March Madness Spin to Win Chance
1x March Madness Spin to Win Chance

Valid until

31 March 2025

Get up to S$1,399 in cashback & rewards
Apple iPhone 16 Plus 128GB (worth S$1,399)
Apple iPhone 16 Plus 128GB (worth S$1,399)

+ 3 other gift options

Valid until

31 March 2025

Get up to S$1,399 in cashback & rewards
S$1,100 Cash via PayNow
S$1,100 Cash via PayNow

+ 5 other gift options

Valid until

31 March 2025

Live Your Adventure: Sure-Win Spin
Stand to win a business class ticket to London, S$200 GrabGifts Vouchers and more exciting rewards!
Stand to win a business class ticket to London, S$200 GrabGifts Vouchers and more exciting rewards!

Valid until

13 April 2025

Instant Approval No Processing Fee S$1,000 Min Loan Lowest Interest Rate

UOB Personal Loan

UOB Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Processing Fee
S$

3 Offers Available

SingSaver March Madness Spin to Win
1x March Madness Spin to Win Chance
1x March Madness Spin to Win Chance

Valid until

31 March 2025

Get up to S$1,429 in cashback & rewards
Apple iPhone 16 Pro 128GB (worth S$1,599)
Apple iPhone 16 Pro 128GB (worth S$1,599)

+ 3 other gift options

Valid until

31 March 2025

Get up to S$1,429 in cashback & rewards
S$1,300 Cash via PayNow
S$1,300 Cash via PayNow

+ 5 other gift options

Valid until

31 March 2025

Instant Loan Disbursement No Processing Fee S$20,000 Min Annual Income Up to 5-Year Loan Tenure

CIMB Personal Loan

CIMB Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Processing Fee
S$

3 Offers Available

SingSaver March Madness Spin to Win
1x March Madness Spin to Win Chance
1x March Madness Spin to Win Chance

Valid until

31 March 2025

Get up to S$1,599 in cashback & rewards, highest in the market
Apple iPhone 16 Pro 128GB (worth S$1,599)
Apple iPhone 16 Pro 128GB (worth S$1,599)

+ 3 other gift options

Valid until

31 March 2025

Get up to S$1,599 in cashback & rewards, highest in the market
S$1,250 Cash via PayNow
S$1,250 Cash via PayNow

+ 5 other gift options

Valid until

31 March 2025

Standard Chartered CashOne Personal Loan

Standard Chartered CashOne Personal Loan
Monthly repayment S$
Annual Interest Rate
 %
EIR
 % p.a.
Processing Fee
S$

4 Offers Available

SingSaver March Madness Spin to Win
1x March Madness Spin to Win Chance
1x March Madness Spin to Win Chance

Valid until

31 March 2025

Flash Deal: Get up to S$400 Bonus Cash
S$400 Bonus Cash
S$400 Bonus Cash

+ 3 other gift options

Valid until

31 March 2025

SingSaver Exclusive Offer: Get up to S$1,299 in cashback & rewards
S$1,200 Cash via PayNow
S$1,200 Cash via PayNow

+ 5 other gift options

Valid until

31 March 2025

SingSaver Exclusive Offer: Get up to S$1,299 in cashback & rewards
Apple iPhone 16 128GB (worth S$1,299)
Apple iPhone 16 128GB (worth S$1,299)

+ 3 other gift options

Valid until

31 March 2025

Why customers choose these personal loans

CIMB Personal Loan

Application was simple and quick with upfront rates and fees. Plus point is that no CIMB account is required allowing the funds to be transferred to my preferred bank account.

 

 

 

Francine MartindaleJanet

Reviewed on Seedly

HSBC Personal Loan

Ideal for lump-sum one-time borrowing needs. HSBC's online exclusive promotional rates are very competitive. Best for applicants with annual income of at least S$80,000 and are keen on at least a 3-year loan.

 

Isaac 976Z

Reviewed on Seedly

”Always my choice”

Thanks SingSaver, always my choice for applying financial products, complete comparison on an all-in-one website.

 

 

 

jjJJ

Reviewed on Google

”Always my choice”

Thanks SingSaver, always my choice for applying financial products, complete comparison on an all-in-one website.

 

 

 

jjJJ

Reviewed on Google
HSBC Personal Loan                   
Ideal for lump-sum one-time borrowing needs. HSBC's online exclusive promotional rates are very competitive. Best for applicants with annual income of at least S$80,000 and are keen on at least a 3-year loan.                        
 
Z
Reviewed on Seedly
UOB Personal Loan                    
If you are in urgent need of cash, you can get cash instantly when you apply for the UOB Personal Loan online. This instant cash will be distributed upon approval of applications submitted between 8am to 9pm.      
 
Emma
Reviewed on SingSaver
CIMB Personal Loan                    
Application was simple and quick with upfront rates and fees. Plus point is that no CIMB account is required allowing the funds to be transferred to my preferred bank account.                                                 
 
Janet
Reviewed on Seedly
Standard Chartered Personal Loan
One of the lowest interest rate you'll get on the market. With an interest rate starting from 2.88% p.a., Standard Chartered's CashOne Personal Loan is a market beater.                                     
 
Daryl Lee
Reviewed on SingSaver
HSBC Personal Loan
Ideal for lump-sum one-time borrowing needs. HSBC's online exclusive promotional rates are very competitive. Best for applicants with annual income of at least S$80,000 and are keen on at least a 3-year loan.
 
Z
Reviewed on Seedly
UOB Personal Loan
If you are in urgent need of cash, you can get cash instantly when you apply for the UOB Personal Loan online. This instant cash will be distributed upon approval of applications submitted between 8am to 9pm.
 
Emma
Reviewed on SingSaver
CIMB Personal Loan
Application was simple and quick with upfront rates and feed. Plus point is that no CIMB Account is required allowing the funds to be transferred to my preferred bank account.
 
Janet
Reviewed on Seedly
Standard Chartered Personal Loan
One of the lowest interest rate on the market. With an interest rate starting from 2.88% p.a., Standard Chartered's CashOne Personal Loan is a market beater.
 
Daryl Lee
Reviewed on SingSaver

Latest news

There are many money-saving tips that you might miss in your daily life! See below SingSaver's latest offers and money-saving tips, so you can get the most from your dollars!
View More Articles

Promotional details and FAQs on #ScoreBigSummer campaign

What must I do to be eligible for the Scorebig Summer Personal Loan promotion?

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Apply for Eligible Loan Products on SingSaver between 24 June – 22 July 2024,  share your with us why you take a loan during the summer period in the rewards redemption form.

Fully complete and submit the SingSaver Rewards Redemption Form within 14 days after completing your application for the Eligible Product.

For specific product requirements of each Eligible Product, please refer to the Terms and Conditions here.

What are the eligible products?

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Look out for the #ScoreBigSummer badge that indicates if a product is participating in our #ScoreBigSummer
Fully complete and submit the SingSaver Rewards Redemption Form within 14 days after completing your application for the Eligible Product.

How will the winners be selected?

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20 winners will be picked based on the most inspiring submission on 30 Oct and will be announced on this page by 10 Nov.

How do I know if I have won the contest? When will I be notified?

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You will be eligible for the contest if you complete the steps to participate. Winners will be contacted via email with details on how to redeem the gift within 1 week after the date of the lucky draw, 7 November 2024

Please keep a lookout in your spam/ junk folder for this in case of accidental redirects by your email client. As emails are SingSaver’s primary method of communicating with you, please add ​no-reply@singsaver.com.sg​ and ​info@singsaver.com.sg​ to your “Safe Sender” list or Primary mail folder to ensure you receive all communications from us. Due to the volume of submissions we are receiving, ineligible customers will not be notified.

How will I claim the gift?

expand_more

You will receive instructions on how to redeem your gift when you receive a notification about your promotional gift via email.

Check the T&Cs for more information.

Frequently asked questions about personal loans

No worries, we've got you covered!

How can a personal loan help?

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Personal loans can come in handy during a period of cashflow difficulty. Some of such situations include sudden medical costs, weddings, funerals, divorces and more. Rest assured that the bank won’t require you to get personal on personal loans and share the reason for taking it up during the approval process.

What are the different types of personal loan interest rates?

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Advertised Interest Rate: The advertised rate, or nominal interest rate, is used when calculating the interest charge on your loan. For example, if you are considering a loan for $200,000 with a 6% interest rate, your annual interest charges will come up to $12,000 per year, or a monthly payment of $1,000.

Effective Interest Rate (EIR): The EIR reflects the true cost of borrowing to the consumer. This interest rate is usually higher than the advertised rate because it includes service fees, annual fees or one-time processing fees for processing and approving your loan application.

0% Interest Personal Loans: Some banks offer 0% interest rate personal loans for short-term loans. However, these tend to come with higher processing fees. This means that you will still be paying the bank for the loan, with the main difference being that the bank collects your money upfront rather than through interest payments in the future.

What’s the difference between the annual interest rate and effective interest rate (EIR)?

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The annual interest rate is the interest rate advertised by the bank. EIR is a better gauge of the interest rate you actually incur. The EIR is often higher than the annual interest rate because it factors in other costs such as transaction fees and administrative fees. They add to the final amount you pay.

How fast can I get a loan?

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The average approval time for a personal loan takes around 3 working days, with loan disbursement taking 5 to 7 working days. Some banks such as Standard Chartered are offering instant loan approval and disbursement for customers who apply through SingPass MyInfo.

Are there any benefits to taking a personal loan?

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The main benefit of a personal loan is the low interest rates being offered by banks, relative to other debts such as credit card interest rates of around 28% or loans offered by unlicensed moneylenders. If you take advantage of promotional offers, you can get a personal loan with interest rates as low as 3.5% p.a.. Administrative charges such as one-time processing fees or annual fees can also be waived during promotional periods.

Many banks also offer instant and digital loan approval, which means quick cash for you, as well as less documentation needed if you use MyInfo. Personal loan tenures also range between 12 to 84 months, giving you a longer time frame to pay off your loan.

Can foreigners apply for personal loans in Singapore?

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Yes, as long as you fulfil the eligibility criteria. These requirements can vary from bank to bank, but generally, personal loan applications for foreigners require you to:

  • Hold a valid Singapore employment pass
  • Have a residential tenancy agreement (or any other proof of your residential address in Singapore)
  • Produce a bank statement (reflecting account activities for the past 6 months)
  • Meet the minimum annual income requirement for foreigners (usually $40,000 to $45,000 p.a.)

Which Bank will provide personal loan easily?

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Granted, there are a lot of requirements you need to meet in order to qualify for a personal loan. Here are some of the banks that might make applying for a loan much more worth the effort:

  • DBS: DBS Bank offers a arnge of personal loan options to consider with borrowing amounts up to 4 times your monthly income and flexible repayment terms of up to 5 years

  • OCBC: OCBC provides competitive interest rates, loan amounts of up to 6 times your monthly salary and flexible repayment terms of up to 5 years

  • UOB: UOB offers a loan amount of up to 6 times your monthly salary with flexible repayment terms of up to 5 years
  • Standard Chartered: Standard Chartered Bank offers up to 4 times your monthly salary with flexible repayment terms of up to 5 years

What is the personal loan interest rate?

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The current personal loan interest rate ranges from 3.5% to 10.8% per annum. The interest rate varies across banks and depends on factors such as the loan tenure.

Are personal loans good for your credit score?

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A personal loan can help you clear your debts and have more manageable repayments at lower interest rates. The personal loan can have a positive effect on your ability to manage debt responsibly, as long as you make repayments on time and pay off the full amount required during the term of the loan. This could then help to improve your credit score.

What are the fees I have to take note of when I take up a personal loan?

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Besides the processing fee that is charged, other fees involved when taking up a personal loan include:

  • Late payment fee: Charged if you miss your monthly repayment.
  • Early repayment fee or cancellation/termination fee: If you choose to repay your loan early, or cancel your loan.
  • Change of tenor: Fee incurred if you change your loan tenure.
  • Annual fee: To be paid every year (this fee could differ from the first year and subsequent years).

 

How do banks or financial institutions decide my loan amount?

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Banks look at a variety of factors when deciding on your loan amount. These include your your income level, credit score, your Total Debt Servicing Ratio (TDSR), your existing credit facilities, and more.

Can we take personal loan from CPF?

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CPF is typically not used for personal loans however under certain circumstances you are able to use your CPF savings to help finance some of your personal expenses such as:

  • Financing your home to pay for down payments, monthly mortgage payments and other home-related expense
  • Paying for your education expenses and fees
  • Even if you are able to take a personal loan using your CPF, it is not a straightforward process and it has its own eligibility criteria you need to meet.

Why is it so hard to get a personal loan?

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Getting a personal loan is not an easy process as lenders have to mitigate the risk of loss they might incur from borrowers defaulting on payments which can be determined by looking at your credit score, income and employment status.

What if you don’t qualify for a personal loan?

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If ineligible for a personal loan, consider secured options, like offering collateral or involving a cosigner. Otherwise, work on improving your credit score, explore alternative lenders, such as online platforms or credit unions, and look into peer-to-peer lending. Negotiate with creditors for better terms or seek assistance from a credit counseling agency. Carefully assess each option and choose based on your needs and repayment ability, and consider seeking professional financial advice for guidance. If the need isn't immediate, focus on building an emergency fund.

How much can you borrow with a personal loan?

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The amount you can borrow with a personal loan in Singapore varies based on factors like creditworthiness, income, and lender policies, typically ranging from a few thousand dollars to tens of thousands. Generally, higher credit scores and incomes may qualify for larger amounts. It's advised to directly contact lenders to determine specific loan amounts and inquire about eligibility criteria and offerings.

What are the common eligibility requirements for a personal loan?

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Common eligibility requirements for a personal loan in Singapore include being between 21 and 65 years old, holding Singaporean citizenship, permanent residency, or a valid work permit for foreigners. Documentation such as identification papers, proof of income, and employment details is generally required during the application process.

 

Lenders typically set minimum income thresholds and assess applicants based on proof of employment, income stability, and creditworthiness. A good credit score enhances eligibility, while stability in employment and a manageable debt-to-income ratio are also key considerations. Prospective borrowers should review each lender's specific eligibility criteria before applying.

How does a U.S. Fed rate hike influence personal loan rates?

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A U.S. Fed rate hike typically leads to an increase in global interest rates, including those in Singapore. This results in higher borrowing costs for personal loans in Singapore, as local banks adjust their rates in response to changes in the global market influenced by the U.S. Federal Reserve's actions. Therefore, personal loan rates in Singapore are indirectly influenced by U.S. Fed rate hikes.

Check the T&Cs for more information.

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