Monthly repayment
Check that the instalment fits after your essential expenses and existing repayments. A lender may approve a payment that is technically possible but still uncomfortable for your budget.
Plan before you borrow
Personal Loan Calculator Singapore
Estimate a monthly repayment, total repayment, and interest in seconds. Try different loan amounts and tenures before you compare the actual terms offered by a bank or licensed lender.
Personal loan repayment calculator
Adjust the amount, tenure, and annual EIR
This calculator uses an illustrative reducing-balance calculation. Enter the annual effective interest rate from a written offer when you have one; the lender\'s final repayment schedule is always the source of truth.
Personal loan calculator
Estimated monthly repayment SGD 338
Estimated total repayment SGD 1,013
Estimated interest SGD 13
Illustrative estimate using annual reducing-balance rate. It excludes lender-specific fees, late charges, and other contract terms.
This is an educational estimate, not financial advice, an approval decision, or an offer. It does not include lender-specific fees, late charges, insurance, or other contract terms.
How to use the result
Three numbers matter when you compare a loan
Total repayment
Multiply the repayment across the tenure and include the fees shown in the written offer. This is the clearest way to see what the loan will cost in total.
Time in debt
A longer tenure can create breathing room each month, but it keeps the balance open for longer. Choose the shortest period you can comfortably service without missing payments.
A sensible comparison process
From an estimate to a responsible decision
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Choose the amount
Start with the smallest amount that solves the need rather than the maximum you could borrow.
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Try different tenures
Compare the monthly instalment with the total repayment so a lower payment does not hide a higher overall cost.
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Test a realistic rate
Use the annual EIR from an offer when available, and do not compare flat, monthly, and effective rates as if they were the same.
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Compare the written offer
Use the lender's final schedule, fees, and total amount payable to make the decision before you sign.
What does a personal loan calculator actually tell you?
A personal loan calculator turns three inputs into a simple repayment illustration: how much you want to borrow, how long you want to take to repay it, and the interest rate used for the estimate. It helps you test scenarios before you apply. For example, you can see whether borrowing S$5,000 for 12 months leaves enough room in your budget, or how much the total cost changes when the same amount is spread over 24 months.
The result is not a promise from a lender. Your actual offer can use a different rate, fee, assessment, or repayment method. A calculator also cannot know your rent, household commitments, existing debt, or whether your income may change. Treat the number as the beginning of a budget conversation, not as permission to borrow the maximum available amount.
Flat rate, monthly rate, and EIR are not interchangeable
Loan advertisements can present rates in different ways. A flat rate applies interest to the original principal for the stated period, while reducing-balance interest calculates interest on the principal that remains after repayments. The effective interest rate, or EIR, is intended to show the annualised cost after the repayment pattern and applicable fees are considered.
That is why two offers that display “5%” may not cost the same. Before entering a rate into the calculator, identify the unit and method in the offer. If the lender gives you an amortisation or repayment schedule, compare that schedule directly. For licensed moneylenders, check the current legal limits and fees on the official Registry of Moneylenders guidance rather than assuming a bank-style annual EIR applies.
How much should you borrow?
Start with the cost you actually need to cover and remove optional spending from the amount. The smaller the principal, the less interest you generally pay, and a shorter tenure can reduce the time that interest accrues. Do not choose an amount simply because the calculator makes the monthly figure look manageable; a low instalment can still result in a large total repayment.
Write down your essential monthly costs before you apply: housing, utilities, food, transport, insurance, family support, and every existing loan or card repayment. Leave a buffer for an unexpected expense. If a new instalment would require you to borrow again next month, pause and seek independent debt guidance before accepting an offer.
Use the estimate alongside a written offer
Once you receive an offer, verify the amount you will actually receive, the rate and calculation method, the number and size of instalments, all fees, the late-payment consequences, and the total amount payable. These details matter more than a headline “from” rate. Ask the lender to explain anything you do not understand and keep a copy of the contract.
If you are considering a licensed moneylender, verify the business on the Ministry of Law list and expect the required identity check at its approved place of business. Credible.sg can help you compare lending partners, but we are not the lender and cannot guarantee approval, pricing, or disbursement. You remain in control of whether you accept an offer.
Calculator questions
Personal loan calculator FAQs
Still unsure about something? Message us on WhatsApp and a real person will walk you through it.
How does the personal loan calculator estimate my repayment?
The calculator uses the loan amount, tenure, and an illustrative annual effective rate to estimate a fixed monthly repayment using reducing-balance interest. It is a planning tool, not a lender quote, and it does not include every fee that may appear in an actual contract.
What should I enter for the rate?
Enter the annual EIR when a lender provides one. If an offer only shows a flat rate or a monthly moneylender rate, do not treat those figures as directly interchangeable with annual EIR. Use the lender's written repayment schedule for the final comparison.
Does a lower monthly payment mean a cheaper loan?
Not always. Extending the tenure can lower the monthly payment while increasing the total interest over the life of the loan. Compare the total repayment, fees, and the time you will be in debt, not only the instalment size.
Does this calculator guarantee that I can afford a loan?
No. It only models one repayment. You also need to account for rent or mortgage, household bills, daily expenses, insurance, existing debt, and unexpected costs. A lender's assessment and your own budget are more important than an estimated result.
Does the calculator include administration or late fees?
No. The result is an illustrative interest-and-principal estimate. Lenders may apply contract-specific administrative fees, late charges, or other permitted costs. Read the full offer and calculate the maximum amount you would repay before accepting.
Can I use the calculator for a licensed moneylender loan?
You can use it for a simple planning estimate, but choose the rate input carefully. Licensed moneylender offers may use a monthly rate and have specific legal caps and fees. Compare the lender's written contract and check the lender against the Ministry of Law Registry before signing.
Get started
Want to compare actual personal loan offers?
Use the estimate to plan first, then submit one free application to explore offers from licensed lending partners.
