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Here are detailed reviews of the top personal loans for August 2025:
Here’s an at-a-glance comparison of personal loan options available in August 2025:
| Lender | Rates Offered | Loan Tenure | Processing Fee |
|---|---|---|---|
UOB Personal Loan
|
Loans starting from S$1000 | 1 – 5 years | Waived on all tenures |
DBS Personal Loan |
Borrow up to 10 times your monthly salary | 6 months – 5 years | 1% (capped) |
Quick Loan Pte Ltd |
Borrow up to 6 times your monthly salary | 1–36 months | 10% |
Standard Chartered CashOne |
Borrow up to 4 times your monthly salary, capped at S$250,000 | 1 – 5 years | S$0 (first year S$199) |
HSBC Personal Loan |
Borrow up to 8 times your monthly salary, capped at S$200,000 | 1 – 7 years | S$0 |
CIMB Personal Loan |
Borrow up to 8 times your monthly salary, capped at S$200,000 | 1 – 5 years | S$0 |
GXS FlexiLoan |
Starting from as low as S$200, up to their assigned credit limit | 2 – 60 months | S$0 |
Trust Bank Personal Loan |
Loan capped by your credit limit; min S$500 per loan | 3 – 60 months | S$0 |
POSB Personal Loan |
Borrow up to 10 times your monthly salary, capped at S$200,000 | 6 months – 5 years | From 1% |
Maybank CreditAble Term Loan |
Typically aligned with borrowing up to 4 – 6 times your monthly income | 12 – 60 months | S$0 for online applications |
OCBC ExtraCash Loan |
Maximum loan amount of up to 6 times your monthly salary | 12 – 60 months | $200 or 2% of the approved loan amount |
A personal loan is a type of unsecured loan. This means you don’t need collateral. You borrow a lump sum and repay it over a set period. This is typically through fixed monthly instalments in 1 to 5 years.
In Singapore, both banks and licensed moneylenders offer personal loans. Banks usually provide lower interest rates but require more stringent checks. Licensed moneylenders like Quick Loan offer faster approvals and flexible terms. The latter is usually ideal for those with urgent need of money.
Here are typical interest ranges and EIRs in August 2025:
| Lender | Interest Rate (p.a.) | Effective Interest Rate (EIR) |
|---|---|---|
| UOB Personal Loan |
From 1.85% | From 3.40% |
| DBS Personal Loan | From 1.99% | From 4.17% |
| Quick Loan Pte Ltd | From 4% | From 4% |
| Standard Chartered CashOne | From 1.90% | From 3.63% |
| HSBC Personal Loan | From 1.99% | From 3.80% |
| CIMB Personal Loan | From 2.68% | From 5.06% |
| GXS FlexiLoan | From 2.88% | From 5.45% |
| Trust Bank Personal Loan | From 2.22% | From 4.22% |
| POSB Personal Loan | From 1.99% | From 4.17% |
| Maybank CreditAble Term Loan | From 2.68% | From 4.91% |
| OCBC ExtraCash Loan | From 5.42% | From 10.96% |
To apply, you would usually need:
Licensed moneylenders like Quick Loan may allow less traditional earners, such as Grab drivers and delivery personnel, to apply with flexible requirements.
A loan with a low interest rate may actually cost more once fees are added in. Comparing the EIR across different lenders helps you see which offer is truly more affordable over time.
The EIR gives you a more accurate picture because it includes those hidden charges. Always use the EIR when comparing loans — it shows what you’ll really be paying.
This can save you quite a bit of money upfront, especially for larger loans. Always ask about this before committing.
Choose a term that fits your budget and lifestyle — don’t stretch too far just to lower your monthly cost.
Yes — many banks and licensed moneylenders lend to foreigners. Generally, they require:
How much personal loan can I get in Singapore?
In Singapore, licensed moneylenders can lend you up to 6 times your monthly salary. The maximum amount banks can borrow you is up to respective bank’s policy. It is possible to borrow from licensed moneylenders even if you already have loans with banks.
How fast is loan approval?
While banks may take up to 5 working days to approve your loan, licensed moneylenders like Quick Loan offer fast approval and same-day disbursement, often within just 20 minutes.
What if I have bad credit?
Banks may quickly reject applications based on strict criteria, but licensed moneylenders like Quick Loan take a more holistic approach, reviewing your full financial profile to give you a fair chance at approval.
Who gives the best personal loan?
For low rates and stability, traditional banks are strong choices. For speed and flexibility, licensed moneylenders like Quick Loan leads with same-day cash and no early repayment fees.
Can I have two personal loans?
Yes its possible to have two personal loans in Singapore. Maintaining a good credit score and having a stable income increases your chances of getting approved.
What mistake could reduce your credit score?
Missing loan repayments can quickly damage your credit score but the good news is, it’s never too late to bounce back. Start by settling any outstanding payments, then stay consistent with on-time repayments to steadily rebuild your credit score.
What's the best place to get a personal loan?
Quick Loan is the best place to get a personal loan in Singapore. As the best moneylender in Singapore, Quick Loan offers same day loan approvals with fast cash disbursements in as fast as 20 minutes!
In Singapore, licensed moneylenders can lend you up to 6 times your monthly salary. The maximum amount banks can borrow you is up to respective bank’s policy. It is possible to borrow from licensed moneylenders even if you already have loans with banks.
While banks may take up to 5 working days to approve your loan, licensed moneylenders like Quick Loan offer fast approval and same-day disbursement, often within just 20 minutes.
Banks may quickly reject applications based on strict criteria, but licensed moneylenders like Quick Loan take a more holistic approach, reviewing your full financial profile to give you a fair chance at approval.
For low rates and stability, traditional banks are strong choices. For speed and flexibility, licensed moneylenders like Quick Loan leads with same-day cash and no early repayment fees.
Yes its possible to have two personal loans in Singapore. Maintaining a good credit score and having a stable income increases your chances of getting approved.
Missing loan repayments can quickly damage your credit score but the good news is, it’s never too late to bounce back. Start by settling any outstanding payments, then stay consistent with on-time repayments to steadily rebuild your credit score.
Quick Loan is the best place to get a personal loan in Singapore. As the best moneylender in Singapore, Quick Loan offers same day loan approvals with fast cash disbursements in as fast as 20 minutes!
QuickLoan Pte Ltd is a licensed money lender in Singapore, serving you since 2010. We reside in International Plaza Tanjong Pagar, giving you the best financial assistance. Our Services include personal loan, payday loan, business loan, renovation loan and foreigner loan and more with instant approval! With our simple application process, you can look forward to fast cash within 20 minutes. What’s more, you can enjoy greater peace of mind with our low interest rates and affordable repayment plans. We’re licensed by the Registry of Moneylenders, so you can rest assured that your dealings with us are fully regulated, legal and transparent.
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