Personal Loan Calculator Singapore
Calculate your personal loan monthly repayments and see the true Effective Interest Rate (EIR) — not just the advertised flat rate.
· 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
Loan Amount
S$
S$1,000S$100,000
Interest Rate (Flat p.a.)
%
1%12%
Loan Tenure5 yrs
1 yr7 yrs
Your Estimate
Monthly Repayment
S$398.00
5 years · 60 monthly payments
Principal
S$20,000
Interest
S$3,880
Total RepaymentS$23,880.00
Total InterestS$3,880.00
Loan AmountS$20,000
Flat Rate3.88% p.a.
Effective Rate (EIR)7.45% p.a.
💡 Banks advertise flat rates. EIR is the true cost — always compare EIR across lenders.
💡
A 3.9% flat rate = 7.5% 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$398.00 must be within 55% TDSR limit of your gross income (MAS rule).
About Personal Loan Calculator Singapore
Personal loans in Singapore are unsecured loans offered by banks and licensed moneylenders. MAS caps total personal loan and credit facility debt at 12x monthly salary for those earning below S$120,000 per year. Interest rates are advertised as flat rates but the true cost (EIR) is approximately double.
Before you apply: Check your TDSR → and your max budget →
How This Personal Loan Calculator Singapore Works
Singapore banks quote personal 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$20,000 personal loan at 3.88% p.a. over 5 years, this calculator returns a monthly instalment of S$398. Across the full tenure you repay S$23,880 in total, of which S$3,880 is interest — 19.4% on top of what you borrowed. That 3.88% flat rate works out to an effective interest rate of roughly 7.5% 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.
Personal Loan Calculator Singapore — Frequently Asked Questions
Common questions about personal loan calculator singapore in Singapore.