Vetted lenders only
We screen every lending partner before they join the platform. If an offer reaches you, the lender behind it is licensed and has been checked.
One application. Multiple offers.
Personal Loan Singapore: Compare Offers From Licensed Lenders
Credible.sg is a loan-matching platform, not a lender. You tell us what you need, and we match you with licensed lending partners we have already vetted. Compare their offers and pick the one that works for you. Applying is free and takes about five minutes.
- Every lender on the platform is licensed and vetted first
- Compare interest rates, fees, and repayment terms side by side to find the best pricing for you
- Applying costs nothing, and you can walk away from any offer
Sample figures. Your offers depend on your profile.
100% licensed lending partners
< 5 min to complete one application
S$1k–100k typical loan range
S$0 cost to compare offers
How it works
From one application to money in hand
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Apply once, online
Fill in one application on Credible.sg. It takes about five minutes and costs nothing.
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Get matched with licensed lenders
We send your request to licensed lending partners whose criteria fit your profile.
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Compare your offers
Review interest rates, fees, and repayment schedules side by side. Take your time and ask questions before you decide.
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Verify your identity and receive funds
Accept the offer you like, verify your identity in person with the lender, and collect your loan.
Plan before you borrow
Estimate your monthly repayments
Move the sliders to get a feel for what a loan would cost each month. The calculator tops out at 4% a month because that is the legal cap for licensed moneylenders in Singapore. Your actual offers will state their exact rates and fees.
Get real offers insteadGet A Credible Loan
Estimated Monthly Payment SGD 337
Best pricing
Compare rates to find the best pricing in Singapore
There are two regulated ways to get a personal loan in Singapore. Banks and finance companies answer to the Monetary Authority of Singapore (MAS), while licensed moneylenders are regulated by the Ministry of Law. Rates, requirements, and approval speed vary quite a bit between the two, so it pays to compare. Comparing offers from more than one licensed lender is the most reliable way to find the best pricing available for your profile.
| Lender type | Typical advertised rates | Regulated by | Best suited for |
|---|---|---|---|
| Banks & finance companies | Around 2.5%–6% p.a. flat (effective interest rate is higher) | Monetary Authority of Singapore (MAS) | Borrowers with stable income who meet minimum income requirements |
| Licensed moneylenders | Up to 4% per month, capped by law | Ministry of Law (Registry of Moneylenders) | Borrowers who need smaller amounts quickly, or who fall outside bank criteria |
These figures are examples, not an offer. Actual rates and fees are set by the lender you choose. By law, licensed moneylenders can charge at most 4% interest per month, 4% late interest per month, an admin fee of up to 10% of the principal, and late fees of up to S$60 a month. Total charges can never exceed the amount you borrowed. Before signing anything, check the lender on the Ministry of Law registry.
Who can apply, and what you will need
You can apply if you are…
- At least 21 years old
- Singapore Citizen, Permanent Resident, or a foreigner holding a valid employment pass
- Meet the lender's income requirements. Borrowing caps for licensed moneylenders depend on your annual income, so check the current Ministry of Law limits
Documents to have ready
- NRIC or passport
- Recent payslips, CPF contribution statements, or Notice of Assessment
- Proof of residential address, such as a utility bill or tenancy agreement
- SingPass login if you apply to a bank through Myinfo
Why Credible.sg
Borrowing, with the guesswork removed
One application, multiple offers
No need to apply to lenders one by one and repeat the same paperwork each time. Apply once and let the offers come to you.
Transparent terms
Every offer spells out its rates, fees, and repayment schedule upfront, so you know exactly what you are agreeing to.
What is a personal loan?
A personal loan is money you borrow from a bank, finance company, or licensed moneylender and repay in fixed monthly instalments over an agreed period, usually between a few months and a few years. Most personal loans in Singapore are unsecured, meaning you do not pledge your home, car, or savings as collateral. The lender decides based on your income, credit history, and existing commitments.
Most people use personal loans to consolidate more expensive debt, cover renovation or wedding costs, handle emergencies, or bridge a short gap in cash flow. The money can be used for almost anything, so it helps to borrow with a clear purpose. A personal loan works best when it solves one specific problem and the repayment fits comfortably in your budget.
Banks vs licensed moneylenders in Singapore
Banks and finance companies generally advertise the lowest headline rates, but they also apply the strictest criteria: minimum annual income requirements, credit checks through the Credit Bureau Singapore (CBS), and processing that can take several days. If you qualify, a bank loan is usually the cheapest way to borrow a larger amount over a longer tenure.
Licensed moneylenders are regulated by the Ministry of Law and work under strict caps: interest of at most 4% per month, late interest of at most 4% per month, a one-time admin fee of up to 10% of the principal, and late fees of up to S$60 per month. The total you can ever be charged is capped at the amount you borrowed. Approval is faster and the criteria are more flexible, which makes them practical for smaller, urgent loans. Expect to pay more for that speed than you would at a bank.
One rule has no exceptions: never borrow from an unlicensed lender. Loan sharks are illegal in Singapore and their terms protect nobody. You can look up any moneylender on the Ministry of Law's public Registry of Moneylenders. Every partner on Credible.sg has already been checked against it.
How to choose a personal loan responsibly
Compare loans on the effective interest rate (EIR), not the advertised flat rate. The EIR includes fees and the effect of the repayment schedule, so it shows what the loan really costs. A low flat rate can turn out more expensive than it looks. Every offer you receive through Credible.sg states its terms, so you can put them side by side.
Before you accept anything, check that the instalment still fits your budget after rent or mortgage, bills, and daily essentials. Borrow the smallest amount that covers what you need, keep the tenure as short as you can comfortably afford, and make sure every fee is written into the contract before you sign.
Common questions
Personal Loan FAQs
Still unsure about something? Message us on WhatsApp and a real person will walk you through it.
How much can I borrow with a personal loan in Singapore?
It depends on the lender and your income. Banks commonly lend up to several times your monthly income if you meet their criteria, while licensed moneylenders follow borrowing caps set by the Ministry of Law based on your annual income. Most requests on Credible.sg fall between S$1,000 and S$100,000. Borrow the smallest amount that covers what you need.
What interest rate can I expect on a personal loan?
Banks in Singapore typically advertise flat rates of around 2.5%–6% per annum, with the effective interest rate (EIR) higher once fees are included. Licensed moneylenders may charge at most 4% per month, a cap set by law. Your actual offers depend on your income, credit profile, and the loan amount and tenure you request.
Can I get a personal loan with a less-than-perfect credit history?
Quite possibly. Lenders assess each application on its own, and licensed moneylenders weigh your current income and ability to repay more than your credit score alone. A weaker credit history usually means smaller offers or higher rates, so compare carefully before you accept.
How fast will I receive the money?
The application takes about five minutes, and offers can arrive the same day. Once you accept an offer, the lender will ask you to verify your identity in person before releasing the money. Moneylenders often disburse on the day of approval. Banks can take a few working days longer.
Is it safe and legal to apply through Credible.sg?
Yes. Credible.sg is a loan-matching platform run by Simple Stack Pte Ltd. We are not a lender ourselves. The financing always comes from licensed lending partners that we have vetted. Applying is free, your information is handled securely, and you never have to accept an offer.
What documents do I need to apply?
Have your NRIC or passport, recent payslips or CPF contribution statements (or your Notice of Assessment if self-employed), and proof of residential address ready. Banks may also ask you to retrieve your records through SingPass Myinfo. Each lender will confirm exactly what it needs before disbursement.
Learn with Credible
Guides to read before you borrow
Understanding Your Credit Score in Singapore: CBS Explained
Read the guide →Loan Terms Explained: A Singaporean’s Guide to Financial Jargon
Read the guide →Navigating Personal Loans in Singapore: A Guide to Financial Empowerment
Read the guide →3 Simplified Steps To An In-Credible Loan Application
Read the guide →Best Personal Loan Rates in Singapore: Compare and Choose
Read the guide →Browse by topic
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One free application is all it takes. Licensed lenders come to you with offers, and you pick the one that fits.
