Bike Loan Calculator Singapore
Calculate your monthly motorcycle loan repayment in Singapore. Bike loans are quoted at flat rates — use our calculator to see the true Effective Interest Rate (EIR) and full repayment schedule.
· Free · No sign-up required
How to use:① Enter your loan amount using the slider or type directly② Adjust the interest rate to match your bank's offer③ View your monthly repayment and full schedule instantly
Loan Details
Bike Loan Amount
S$
S$2,000S$30,000
Interest Rate (Flat p.a.)
%
1%6%
Loan Tenure5 yrs
1 yr7 yrs
Your Estimate
Monthly Repayment
S$227.80
5 years · 60 monthly payments
Principal
S$12,000
Interest
S$1,668
Total RepaymentS$13,668.00
Total InterestS$1,668.00
Loan AmountS$12,000
Flat Rate2.78% p.a.
Effective Rate (EIR)5.37% p.a.
💡 Banks advertise flat rates. EIR is the true cost — always compare EIR across lenders.
💡
A 2.8% flat rate = 5.4% EIR. This is your true annual cost. Always compare EIR — not flat rate.
📋
Show this estimate to your bank or mortgage broker. Actual rates may vary based on your credit profile.
✅
Monthly repayment S$227.80 must be within 55% TDSR limit of your gross income (MAS rule).
About Bike Loan Calculator Singapore
Motorcycle loans (bike loans) in Singapore are governed by the same MAS regulations as car loans. The loan quantum is based on the bike's Open Market Value (OMV): up to 70% for OMV ≤S$20,000 and up to 60% for OMV >S$20,000. Maximum loan tenure is 7 years. Interest rates are quoted as flat rates by lenders including DBS, OCBC, UOB, Maybank, and specialist motorcycle financiers.
Before you apply: Check your TDSR → and your max budget →
Motorcycle Loan Calculator Singapore — Full Guide
Find your bike's OMV before you talk to a dealer
Your loan is capped against the motorcycle's Open Market Value, not against what you pay for it. OMV is the value Singapore Customs assesses on import, before COE, ARF, registration and GST — so on a bike listed at S$25,000, the OMV might be S$8,000 and the maximum loan S$5,600.
That gap catches most first-time buyers out. Look up the OMV on LTA's OneMotoring portal before you set a budget, work out 70% of it, and treat everything above that as cash you need to have ready.
| OMV | Maximum loan | You pay upfront |
|---|---|---|
| S$20,000 or below | 70% of OMV | At least 30% of OMV plus all COE, ARF, GST and fees |
| Above S$20,000 | 60% of OMV | At least 40% of OMV plus all COE, ARF, GST and fees |
Flat rate versus EIR on a bike loan
Motorcycle loans are quoted at flat rates, so a 2.78% headline works out at roughly 5.1%–5.3% effective. Interest is calculated on the original amount for the full tenure regardless of how much you have already repaid.
One practical consequence: stretching the tenure to lower the monthly payment costs more than it does on a reducing-balance loan. On a flat-rate loan, going from five years to seven adds two full years of interest on the entire original principal. Run both in the calculator above before you accept the longer term.
The costs the loan does not cover
A bike loan finances a percentage of OMV and nothing else. Everything else is cash on day one.
- COE — often the single largest line item, and it is not financeable.
- Additional Registration Fee (ARF), calculated as a percentage of OMV.
- GST, registration fees and road tax.
- Insurance — compulsory, and expensive for younger or newly licensed riders.
- CPF cannot be used for any of it. Motorcycle loans are serviced entirely in cash.
TDSR applies to motorcycles too
A bike loan counts towards your Total Debt Servicing Ratio just like any other credit facility. If you expect to apply for a home loan in the next few years, a motorcycle instalment reduces the housing loan you will qualify for, roughly dollar for dollar against the 55% ceiling.
A S$300 monthly bike payment on a S$6,000 income consumes 5% of your 55% TDSR headroom — which at typical rates translates to tens of thousands of dollars less home loan. Worth knowing before you sign a seven-year term.
How This Bike Loan Calculator Singapore Works
Singapore banks quote motorcycle loan on a flat rate basis. Interest is charged on the full original amount for the entire tenure — it does not fall as you repay. That makes the advertised number look far cheaper than what you actually pay, which is why MAS requires lenders to also publish the Effective Interest Rate (EIR).
Flat-rate formula
Total interest = P × r × N
Monthly instalment = (P + Total interest) ÷ (N × 12)
P = amount borrowed · r = flat rate per year · N = tenure in years
Worked example
On a S$12,000 motorcycle loan at 2.78% p.a. over 5 years, this calculator returns a monthly instalment of S$228. Across the full tenure you repay S$13,668 in total, of which S$1,668 is interest — 13.9% on top of what you borrowed. That 2.78% flat rate works out to an effective interest rate of roughly 5.4% p.a. — the figure to use when comparing offers between banks.
Change any input above and the schedule recalculates instantly. The result is an estimate based on the rate you enter — it excludes legal fees, valuation fees, fire insurance and any lock-in penalties, and it is not a loan offer or a statement of what you will be approved for.
Sources & Last Reviewed
Regulatory limits and indicative bank rates on this page were last reviewed on . Bank rates are indicative and change frequently — always confirm the current rate directly with the lender before committing. This calculator is an estimate, not a loan offer.
Bike Loan Calculator Singapore — Frequently Asked Questions
Common questions about bike loan calculator singapore in Singapore.