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Personal loan cost information

Key rates, terms and a worked example for personal loans in Singapore

Credible.sg is a loan-matching platform, not a lender. We connect you with licensed lending partners regulated by the Ministry of Law (Registry of Moneylenders) and the Monetary Authority of Singapore. Your actual rate, fees and terms are set by the lender you choose.

Maximum Annual Percentage Rate (APR)
48% per annum (4% per month)

The maximum interest a licensed moneylender may charge under Singapore law.

Repayment period
1 to 24 months (shortest to longest)

Choose the shortest tenure you can comfortably afford.

Representative example

Borrow S$10,000 over 12 months at 48% per annum (Effective Interest Rate):

  • Monthly repayment approx. S$1,067
  • Total amount repayable approx. S$12,809
  • Total cost of credit approx. S$2,809

A one-time administrative fee of up to 10% of the principal and late fees of up to S$60 per month may also apply. The total of all interest, fees and charges can never exceed the amount borrowed.

Figures are an illustrative example, not an offer or quote. Your actual rate, fees and terms are set by the licensed lender you choose and depend on your income, credit profile, loan amount and tenure. Always check a moneylender against the Ministry of Law's Registry of Moneylenders before signing any agreement.