Best Personal Loan in Singapore: Low Rates, Cashback & More

Factors to Consider When Choosing a Personal Loan

1. Interest Rate

The interest rate is a pivotal factor in determining the overall affordability of your personal loan. When comparing loan offers from different banks, a lower interest rate is generally preferable, as it means you'll pay less in interest charges over the life of the loan. Interest rates depend on several factors, including your creditworthiness, where better credit scores typically lead to lower rates, the loan quantum and various other market conditions.

CIMB Personal Loan offers an attractive interest rate as low as 2.80%* p.a. (EIR from 5.28% p.a.), among the lowest available in the market! Our personalised pricing ensures that the interest rate and fees you receive are tailored specifically to your unique credit and income profile, along with the chosen loan tenure. To explore your estimated interest rate and repayment plan, simply use our Personal Loan Calculator — designed to give you a clear view of what to expect.

2. Processing Fee

Apart from interest rates, processing fees can add to the cost of borrowing. Processing fees are charges levied by lenders to cover the administrative costs of processing your loan application. Some loan providers may impose substantial processing fees, which can significantly increase the overall cost of your loan. CIMB Personal Loan stands out because it offers a hassle-free experience and you can stand to enjoy zero processing fees* depending on your personal credit and income profile, as well as the tenure selected. This means you can avoid unnecessary expenses, making your loan more cost-effective.

3. Loan amount

Personal loans are versatile financial tools that can be used for various purposes. Whether you need funds for education, home renovation or a medical emergency, a personal loan can provide the financial flexibility you need. This is where the loan amount, comes into play.

CIMB Personal Loan allows you to borrow up to 8 times* your monthly income. This flexibility ensures that you have access to the funds you require to meet your diverse financial goals.

4. Cashback

While the primary focus is on minimising costs, it's always a bonus when you can get something in return. CIMB offers a tempting up to S$2,000 cashback promotion for its Personal Loan product. This not only helps you save on interest and fees but also gives you a little extra cash in hand.

Discover the Advantages of a CIMB Personal Loan

The CIMB Personal Loan stands out as an optimal option for prudent borrowers, presenting competitive interest rates, no processing fees, substantial loan allowances, and an attractive cashback offer. The application process is entirely online, designed for efficiency and can be completed in under 10 minutes. There's no requirement to download any application, nor is there a prerequisite to hold a CIMB bank account or credit card prior to application.

 That’s how hassle free it is. Apply online today!

*T&Cs apply. Refer to CIMB Personal Loan for more information.