Which is the best bank for a personal loan in Singapore?

Actually, now I'm thinking about personal loans. But now, I'm new in Singapore. So can you tell the best bank for a personal loan?

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    These are the top best bank for taking a personal loan in Singapore. You can choose any bank from it. HSBC Personal Loan Standard Chartered CashOne Personal Loan Citibank Quick Cash

    2019.08.01 18:0

    Please leave your knowledge and opinion!

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    Related Reviews

    MoneySmart exclusive rate of 3.5% (7.27% p.a.) for new loan customers with only 1% processing fee

    OCBC ExtraCash Loan / Oversea-Chinese Banking Corporation

    The OCBC ExtraCash Loan is a true personal loan as it allows you to borrow up to 6X your monthly salary. However, I must warn that the interest rate is kinda high. If you don’t require that much money, I recommend that you consider the OCBC Cash-on-Instalments loan which is slightly cheaper. However currently with OCBC personal loan, you can get a MoneySmart exclusive rate of 3.5% (7.27% p.a.) for new loan customers with only 1% processing fee. For existing loan customers, you pay an interest of 4.7% p.a. (EIR 9.46% p.a.).

    HSBC personal loan offers the longest loan tenure of 7 years in Singapore

    HSBC Personal Loan / HSBC Bank Singapore

    If you need to borrow a large amount but cannot afford a big monthly repayment, then you should give consideration to the HSBC Personal Loan. This HSBC personal loan offers the longest loan tenure of 7 years in Singapore which means you’ll be paying 7 years’ worth of interest. HSBC is also great for those who need cash urgently as you can get approval-in-principle within one minute and receive the money the next working day. Isn’t that just wonderful?

    Sign up for CreditAble in order to cash your credit line using the Maybank CreditAble Term Loan

    Maybank Personal Loan / Maybank Singapore

    Maybank does not exactly offer a proper personal loan in itself but its term loan is linked to its personal credit line product. You just need to sign up for CreditAble in order to cash your credit line using the Maybank CreditAble Term Loan but note the terms & conditions and annual fee however. In my personal opinion, the loan amount is small while the interest is high, so it may be best to avoid this one.

    You can actually apply for a credit card and personal loan at the same time

    UOB Personal Loan / United Overseas Bank

    To apply for a UOB Personal Loan, you’ll need either a UOB CashPlus account or UOB credit card as UOB draws from your credit card limit. If you’re new to UOB, you can apply for a credit card and personal loan at the same time but note that terms & conditions like the fee schedule of the credit card will also apply to your UOB Personal Loan. UOB bank is one of the few banks that provide instant approval for personal loans for submissions between 7am to 8pm by new UOB customers.

    DBS personal loans are based on either your credit card or personal line of credit

    DBS Personal Loan / DBS Bank

    DBS personal loans are based on either your credit card or personal line of credit. Thus if you have DBS credit card or DBS Cashline and a DBS deposit account, you can apply through internet banking and get your loan processed immediately and credited instantly into your account. However if you don’t have a DBS credit card you can still get this loan, but you will have to furnish your income documents and obviously you won’t get the funds right away

    Quick Cash has the lowest published interest rates on the market and no processing fees

    Citi Personal Loans / Citibank Singapore