Car Loan Calculator Singapore

Calculate your monthly car loan repayment in Singapore. MAS limits car loans to 60–70% of OMV with a maximum 7-year tenure.

· 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

Car Loan Amount
S$
S$10,000S$250,000
Interest Rate (Flat p.a.)
%
1%6%
Loan Tenure7 yrs
1 yr7 yrs
Your Estimate
Monthly Repayment
S$1,137.71
7 years · 84 monthly payments
16%interest
Principal
S$80,000
Interest
S$15,568
Total RepaymentS$95,568.00
Total InterestS$15,568.00
Loan AmountS$80,000
Flat Rate2.78% p.a.
Effective Rate (EIR)5.31% p.a.
💡 Banks advertise flat rates. EIR is the true cost — always compare EIR across lenders.
💡

A 2.8% flat rate = 5.3% 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$1,137.71 must be within 55% TDSR limit of your gross income (MAS rule).

About Car Loan Calculator Singapore

Car loans in Singapore are regulated by MAS. The loan quantum depends on the vehicle's Open Market Value (OMV): up to 70% for OMV ≤S$20,000 and up to 60% for OMV >S$20,000. Maximum tenure is 7 years. Major lenders include DBS, OCBC, UOB, Maybank, and specialist auto lenders.

How This Car Loan Calculator Singapore Works

Singapore banks quote car 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$80,000 car loan at 2.78% p.a. over 7 years, this calculator returns a monthly instalment of S$1,138. Across the full tenure you repay S$95,568 in total, of which S$15,568 is interest — 19.5% on top of what you borrowed. That 2.78% flat rate works out to an effective interest rate of roughly 5.3% 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.

Car Loan Calculator Singapore — Frequently Asked Questions

Common questions about car loan calculator singapore in Singapore.