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POSB Personal Loan

POSB Personal Loan
(Product Review)

By Trinh Thanh POSB Personal Loan

Updated January 9, 2026

The product information in the comparison table is updated daily. We also update new insights, reviews and product information on a regular basis.

From 1.99%

Annual Interest Rate

From 4.17%

Effective Interest Rate

$100

Processing Fee

$500

Minimum Loan Amount

$288.67
  • Monthly repayment shown uses an indicative rate of 3.92% per month. Depending on your lender, actual rates may range from 0.25-4% per month.

    • Monthly Repayment

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    Current POSB Personal Loan Rate

    Today's POSB Personal Loan interest rate trends in Singapore - As of Friday, January 9th, 2026, POSB Personal Loan’s annual interest rate stands at 1.99% with an effective interest of 4.17%.

    Product Review

    POSB’s personal loan is a finance product available to Singapore citizens and permanent residents only. It functions on the platform of Singapore’s most credible merchant bank DBS. With its swift cash distribution system, interest rates of about 1.99% and online application process, it is among the most affordable personal instalment loans in the country. The bank requires all applicants including new clients to have a functional POSB account. They must also be current credit card or credit line customers to facilitate the process of the loan distribution.

    Individuals interested in getting a POSB personal loan and with a minimum annual income of S$120,000 are eligible to borrow up to 10x their monthly income. For borrowers with an annual income below S$30,000 are not left out though. The bank’s diverse loan options give credit to its claim of offering the most competitive financing options to Singaporeans. Although charges are as high as 11% per annum and high processing fees of 4% (EIR 20.01%) some competitors might offer more attractive interest rates.

    Compare Loan Offers
    from 20+ Lenders
    Up to 1% Cashback*
    $20 Grocery Voucher*
    Quick 5 Minutes Approval

    $1,000

    $200,000

    3 Months

    72 Months

    Total Cashback

    10

    Your monthly payment

    337

    Rate Disclaimer*

    *Based on a $20,000 loan at 6.95% APR over 5 years, read more

    POSB has a remarkable track record in offering various competitive financing options from the lowest (i.e. S$500) to the highest (10x monthly income for individuals with an annual income above S$120,000).

    List of Bank Loans in Singapore (January 2026)

    All banks listed below are authorized financial institutions operating under MAS supervision and regulation. They comply with stringent banking standards, consumer protection guidelines and fair lending practices established by MAS. Bank loans typically offer lower interest rates compared to licensed moneylenders and are suitable for borrowers with good credit history.

    Loan amount must be between 500 and 100,000.
    Tenure must be between 1 and 60 months.
    All
    All
    ROSHI Approved
    Low to High
    Low to High
    High to Low
    ROSHI Personal Loan
    Address
    From 22.56%
    Grocery Vouchers
    Up to 1% Cashback
    $1,021.33
    $2,256.00
    Check Eligibility
    CIMB Personal Loan
    Address
    From 1.86%
    From 3.56%
    Grocery Vouchers
    $848.83
    $186.00
    Check Eligibility
    Trust Bank Instant Loan
    Address
    From 1.56%
    From 3%
    $846.33
    $156.00
    Check Eligibility
    Citibank Quick Cash Loan
    Address
    From 3.45%
    From 6.5%
    $862.08
    $345.00
    Check Eligibility
    OCBC Extra Cash
    Address
    From 5.42%
    From 10.96%
    $878.50
    $542.00
    Check Eligibility
    Standard Chartered CashOne Personal Loan
    Address
    From 1.6%
    From 3.07%
    $846.67
    $160.00
    Check Eligibility
    OCBC Personal Loan
    Address
    From 1.98%
    From 4.19%
    $849.83
    $198.00
    Check Eligibility
    GXS FlexiLoan
    Address
    From 1.6%
    From 3%
    $846.67
    $160.00
    Check Eligibility
    HSBC Personal Loan
    Address
    From 1.83%
    From 3.5%
    $848.58
    $183.00
    Check Eligibility
    DBS Personal Loan
    Address
    From 1.99%
    From 4.17%
    $849.92
    $199.00
    Check Eligibility
    Show All Lenders

    *Today's Moneylenders Rates - 9 January 2026

    POSB Personal Loan Fees and Charges

    POSB demands standard bank fees including advance recovery and late refund fees. In addition, the bank also charges 1% of the entire loan amount. However, plan and create systems that will enable you to pay your loan when due to avoid extra charges.

    FeeFiat Rate
    Processing Fee1% of loan principal (4% for low-income borrowers)
    Early Recovery FeeS$250
    Late Refund Fee (Credit Card)S$100
    Late Payment Fee (Cashline PL)S$120

    Overview of POSB Personal Loan Interest Rates

    Loan DurationAIRFeeEIRTotal CostMonthly Payment
    1 Year1.99%$1004.17%S$10,199S$850
    2 Year1.99%$1004.17%S$10,398S$433
    3 Year1.99%$1004.17%S$10,597S$294
    4 Year1.99%$1004.17%S$10,796S$225
    5 Year1.99%$1004.17%S$10,995S$183
    *Rates Updated January 09, 2026 - Loan Amount Example S$10,000

    Application Criteria

    Singapore citizens and PR’s between the age of 21 and 65 are eligible to apply for this loan. In addition, borrowers are required to have a minimum annual income of S$20,000.

    Interested applicants can apply through ibanking. Applicants can use their login details like username and password to access the platform or utilise an online loan application form and register with POSB card details.

    PROMOTIONS

    • For loans between S$10,000 to S$49,999: Receive 2% cashback when you choose a loan tenure of 36 months or longer

    • For loans of S$50,000 and above: Enjoy an enhanced 3% cashback when you choose a loan tenure of 36 months or longer

    APPLICATION PROCESS

    • Apply via ROSHI

      Begin your loan application by clicking on the DBS/POSB link.

      There are 2 ways to do complete an online DBS/POSB personal loan application:

      • Using iBanking Login: Enter your iBanking username and password to apply for an online personal loan application.
      • Using card and PIN: Input your Debit or ATM card number and the PIN (the same PIN used for ATM input). For customers with only a personal credit card and no debit or ATM card, please use credit card as your selection.
    • Provide Necessary Documents

      You’ll be required to provide all the necessary documentation for DBS to approve your loan application. This list of documents includes but is not limited to:

      • Photocopy of NRIC (front and back)
      • CPF statement (past 12 months)
      • Latest income tax notice of assessment or latest computerised payslip
      • 2 years income tax notice of assessment or latest income tax notice of assessment (commission based employees)
      • 2 years income tax notice of assessment (self-employed)
    • Receive your loan disbursement

      After submission and approval of your DBS/POSB personal loan on your cashline and/or credit card, you will receive an SMS confirmation that the DBS personal loan has been approved. Please proceed to check your designated account for the crediting of the approved loan amount.

    POSB PERSONAL LOAN HIGHLIGHTS

    • Competitive interest rates

      Competitive personal loan interest rates that rival other market participants.

    • Quick money disbursement

      Approved loan amount is credited to applicant in minutes

    • High maximum loan amounts

      Up to 10x your monthly salary

    • Tenures only up to 5 years

      Maximum loan repayment of 72 months cannot be extended

    • Not ideal for specific loan use

      Doesn’t provide best terms for specific loan use (car, student, renovating etc.)

    Frequently Asked Questions

    Can a foreigner apply for a POSB personal loan in Singapore?

    One of the eligibility criteria for a POSB personal loan is that you must be a Singaporean or Permanent Resident (PR). For foreigners with work visas such as EP holders, you may want to approach other banks or licensed moneylenders instead.

    Can I get a personal loan with bad credit?

    Before your POSB personal loan application is approved, you have to grant the bank access to your credit bureau file. If you currently have a bad credit rating, your personal loan application is subject to POSB bank’s approval.

    How much money can I borrow?

    For most Singaporeans, the maximum loan amount for a POSB personal loan is 4 times the applicant’s monthly salary. If you earn $120,000 and above, you can obtain 10 times your monthly salary. You are expected to complete your repayments between 1 to 5 years with the agreed interest rates.

    How to check POSB personal loan approval?

    If you are a POSB account holder, you can check the POSB ibanking portal to check your approval status. For existing POSB credit card or cash line customers, if your application meets the bank’s application criteria, the funds will be disbursed to your connected account swiftly.

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