Singapore Loan Calculators 2026

MAS caps each personal loan at 6× your monthly income. However, your total unsecured credit across all banks and credit cards cannot exceed 12× monthly income. If you earn S$5,000/month, the max single personal loan is S$30,000.

70% LTV for cars with OMV ≤S$20,000 (you pay minimum 30% in cash) and 60% LTV for cars with OMV >S$20,000 (minimum 40% cash). Maximum tenure is 7 years for both categories.

Effective Interest Rate (EIR) reflects the true annual cost of a loan because it accounts for compounding and declining balance. A flat rate of 5% converts to roughly 9.5% EIR, as you still pay interest on the original principal even as you repay it.

A car with OMV S$18,000 pays ARF of S$18,000 (100% of OMV) plus COE (Cat A), dealer margin, GST, and vehicle price. Total can reach 3–4× the car's overseas sticker price. Use our Total Car Ownership Calculator for a full breakdown.

4.75% per annum, but interest only starts accruing from the date repayment commences (typically 2 years after graduation). There is no interest during the study period — making it significantly cheaper than private bank student loans.

Financial planners generally recommend "buy term, invest the rest" — term premiums are 5–10× cheaper for the same coverage, and the savings invested in index funds or SSB typically outperform whole life cash value over 20+ years. However, whole life offers guaranteed insurability and a forced savings component if you lack investment discipline.

MAS-mandated DCP lets Singaporeans and PRs consolidate all unsecured credit (cards, personal loans) into one facility at a lower rate. Requirements: Singapore citizen or PR, annual income S$20,000–S$120,000, total unsecured debt exceeds 12× monthly income.

Licensed moneylenders can charge up to 4% per month (≈48% annualised), plus late fees and admin charges. Banks charge 5%–9% EIR for personal loans. Licensed moneylenders should only be used as a last resort; never borrow from unlicensed loan sharks.

EFS offers: SME Working Capital Loan (up to S$300k), Trade Loan (up to S$3M), Fixed Assets Loan (up to S$30M) and the EFS-Green (up to S$50M for green projects). Government risk-shares 50–70% of loan value with participating financial institutions (DBS, OCBC, UOB, etc.).

No. CPF funds can only be used for approved purposes: property purchase, MediSave-approved medical expenses, CPF-approved insurance premiums, and education (CPF Education Scheme). CPF cannot be used for personal loans, car loans, or credit card repayments.

If your total unsecured credit outstanding across all banks exceeds 12× monthly income, lenders are prohibited from extending further unsecured credit to you. You would still owe existing debt but cannot take on new personal loans or credit card facilities until you reduce balances below the cap.

Singapore uses the Credit Bureau Singapore (CBS) score ranging from 1,000 to 2,000. Grades: AA (1,911–2,000), BB (1,844–1,910), CC (1,825–1,843), DD (1,813–1,824), EE (1,782–1,812), FF (1,755–1,781), GG (1,724–1,754), HH (1,000–1,723). Most banks require AA or BB for best rates.

Compulsory MediShield Life premiums range from S$225/year (age 1–20) to S$1,655/year (age 81–83), payable from CPF MediSave. Pioneer Generation and Merdeka Generation receive subsidies of 40% and 20% respectively. Additional Shield plans top up for private hospital coverage.

Certificate of Entitlement (COE) is a government quota licence required to own a vehicle in Singapore for 10 years. COE prices (bid in fortnightly exercises) are included in the car's purchase price and the 70%/60% LTV cap applies to the total OPC (Open Price Car) price including COE.

For owner-occupied residential property: No. For investment/rental property: Yes — renovation and loan interest costs can be deducted against rental income. Use our Rental Yield Calculator to factor in renovation loan interest in your net yield calculation.

All Singaporeans aged 25+ receive S$500 SkillsFuture Credit (plus S$300 top-up for those 40+ as of 31 Dec 2024). This can pay for 10,000+ approved courses on the MySkillsFuture portal. Credit does not replace cash — it subsidises course fees but cannot be withdrawn. Our ROI calculator helps rank highest-value course investments.