Loans can be a very helpful financial tool, but it can be difficult to know where to start. There are a lot of shady providers out there offering unfavourable terms, high interest rates, and poor customer service. The good news is that Singapore has a number of fantastic loan providers if you know where to look.

Here are five great personal loan providers currently available in Singapore.


HSBC is a very popular bank offering both fixed and flexible repayment personal loans. Fixed repayment loans are given for a 1-7 year term and allow you to make affordable, fixed monthly instalment repayments. Flexible repayment loans allow you to take a loan of up to 8x your monthly salary with more flexibility on your monthly repayments. Fixed plans tend to have lower interest rates than flexible plans. The specific interest rates you pay will depend on the size and duration of the loan. HSBC offers up to S$200,000 in credit and applying for one of their loans can be done online, by SMS, or by phone.¹

Oasis 1 Credit

Oasis 1 Credit is a respectable personal loan provider granting loans from S$5,000 to S$100,000. Their application process is fully online and they aim to review and approve applications within 24 hours. Interest rates vary and will depend on your specific circumstances. In order to qualify for one of their loans, borrowers must be at least 18 years old with a salary of at least S$1,500 a month for Singaporeans or S$2,000 for others. In addition to personal loans, Oasis 1 Credit is also able to offer business loans and consolidation loans.²

Standard Chartered

Standard Chartered Bank offers a very attractive CashOne Personal Loan which is a one to five year loan that can be issued to any bank account in just 15 minutes. It’s possible to get a loan from S$1,000 to S$250,000 with an effective interest rate starting at 6.95% p.a. There is a S$100 annual fee for the first year of the loan, but all years thereafter have no fee. To qualify, borrowers must be 21-65 years old with a minimum annual income of S$20,000 (non-citizens must have an income of S$60,000 as well as a Singapore Employment Pass).³


DBS is another well-known bank offering personal loans of up to 10X your monthly salary. Their loans start at an effective interest rate of 7.56% p.a., and the repayment term can be from 1-5 years. In order to take out a loan with DBS you must be a Singaporean citizen or resident aged 21-65 with an annual income of at least S$30,000. You should also already have a deposit account with DBS to apply as well. If not you should apply for one first. The application process is fully online and the funds can be immediately transferred into your account upon approval.⁴


UOB is a quality lender offering loans with an effective interest rate of 7.75% to 7.86% depending on the term of the loan (12 to 60 months). They are currently offering a generous cash back bonus with loans taken for either a 36, 48, or 60 month term. There is a bonus of S$200 for a S$15,000 to S$29,999 loan, S$600 for a S$30,000 to S$44,999 loan, and S$1,200 for a S$45,000+ loan. UOB loans have no processing fees, but to qualify you should be an existing UOB Credit Card or CashPlus customer. If you aren’t, it’s simple to apply for one of these services online as well. You should also be a Singaporean citizen or resident aged 21-60 with a minimum annual income of S$30,000.⁵

Finding The Best Personal Loan

Finding the right personal loan can be easily accomplished with a bit of research. Although these providers are a great start, you’ll still want to compare things for yourself to see what suits your needs best. A great way to get started with finding a personal loan is to perform an online search. This will reveal many of the loan providers currently on the market and allow you to compare the different terms and interest rates so you can find a great loan for your specific scenario.

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