Different banks’ interest rates for personal loans in Singapore?

by in Uncategorized April 15, 2023


Personal loans are a popular way to borrow money. As the name suggests, they’re generally used for personal expenses, so you can use them to cover everyday living costs like rent, bills, and groceries, or even use them to pay off credit card debt or consolidate multiple debts into one loan.

While most banks offer personal loans in Singapore at reasonable interest rates, there are some differences between them. Here’s how HSBC’s loan compares to that of other central banks:


HSBC has a fixed interest rate of 2.99%. The minimum loan amount is $10,000, while the maximum is $1 million.

The loan tenure ranges from 12-60 months. The disbursement time depends on whether it’s a personal or commercial loan: personal loans are disbursed within 24 hours, while commercial ones can take up to 72 hours to be approved and funded.


Interest rates range from 3.25% to 5.00%.

Minimum loan amount: $50,000

Maximum loan amount: $500,000

Personal loan repayment period: up to 10 years (depending on the lender)

Standard Chartered

Interest rates for Standard Chartered’s loans are based on your credit rating. These rates are not fixed and can vary depending on the amount of money you borrow. For example, if you have an excellent credit score and borrow a small amount of money ($10,000), your interest rate could be as low as 3.99% p.a.

If you have good credit but need a larger loan ($50,000), your rate will be higher and closer to 10%.


The rate of interest you will be charged is determined by the bank’s assessment of your creditworthiness. 

If a borrower has a good credit score, they are likely to get a lower interest rate than someone with a bad credit score and may be required to pay higher rates to secure the loan.

A borrower’s employment status and how long they have been in their current role also play a role in determining whether or not they are eligible for financing via personal loans. 

For example, suppose you are self-employed (i.e., not employed by an organization) and have been so for less than two years. 

In that case, it might be challenging to obtain financing through some banks as they will see this as risky business practice on your part – i.e., taking out another debt when there’s already no steady income source.

BNP Paribas

BNP Paribas Personal Loan – $40,000 to $250,000

APR: 0.99% – 15.9%* (Variable) – Personal loan taken out between 1 April and 30 June 2019

Min loan amount: S$10,000

Max loan amount: S$250,001


HSBC is the most expensive, while Citibank is the cheapest. Maybank and ABN AMRO are in the middle of this list, while BNP Paribas sits at 4th place.


Based on our research, HSBC is the most expensive bank to obtain a personal loan with. 

Citibank and Maybank are the cheapest banks when it comes to personal loans. ABN AMRO, BNP Paribas, and OCBC sit in the middle of this list.