Can a Person Take a S$230,000 Personal Loan in Singapore?

Securing a substantial personal loan of S$230,000 in Singapore is indeed possible. However, it is crucial to approach the decision with caution and a well-thought-out strategy. With the proper planning, this considerable amount can aid in achieving your aspirations and ambitions.

The potential uses for this loan amount are endless, ranging from starting a new business venture, expanding skill sets, or even venturing into uncharted territories. So, if you’re up for the challenge, it’s time to start exploring your options and crafting a winning proposal to secure the funds you need.

Options for S$230,000 Personal Loans in Singapore

When Singaporeans need to borrow a hefty sum of S$230,000, there are several paths to explore. Banks are the go-to option for those who earn a steady annual income of S$120,000 or more and offer the possibility of securing significant loans. Here are a few top picks for securing the loan you need:

Personal LoanInterest Rate (p.a.)EIR (p.a.)Annual Income Requirement Loan AmountProcessing Fee
SCB CashOne Personal Loan3.48%7.99%Greater than S$120,0008x your monthly salary; cap at  S$250,000S$0
UOB Personal Loan3.99%7.49%Greater than S$120,00095% of your available credit limitS$0
OCBC Personal Loan4.7%9.46%Greater than S$120,0006x your monthly salaryS$100

Standard Chartered CashOne Personal Loan

Need a sizable loan with lightning-fast processing and low-interest rates? Look no further than the Standard Chartered CashOne Personal Loan. With an unbeatable interest rate of 3.48% (EIR 7.99% p.a.), this loan offers a cost-effective solution for borrowing significant sums. As long as you earn an annual income of S$120,000 or more, you can take advantage of borrowing up to 8 times your monthly income. 

UOB Personal Loan

For those seeking a personal loan with unbeatable interest rates and quick processing times, look no further than UOB Personal Loan. With an incredibly low-interest rate of 3.99% (EIR 7.49% p.a) for up to 5 years of the loan term, this loan option is truly hard to beat. To qualify, simply become a UOB credit card holder or a CashPlus customer. With loans available in amounts up to 95% of the borrower’s credit limit, getting the funds you need is easy and hassle-free.

OCBC Personal Loan 

Another option for those seeking top-notch loan solutions in Singapore is the OCBC Personal Loan. Boasting a competitive interest rate of 4.7% (EIR 9.46% p.a.), this loan option is a compelling choice for existing OCBC loan customers. Plus, if you’re earning an annual income of S$120,000 or more, you have the opportunity to borrow up to 6 times your monthly salary.

Crucial Factors to Weigh Before Applying for a Sizeable Personal Loan

Before you apply for a significant personal loan, consider these factors. Evaluate your finan

  1. Credit score and credit history: Your credit health is vital to securing a loan. Lenders assess your creditworthiness through your credit score and history. Aim for a score close to 2000 and ensure a clean credit history without errors to improve your chances of approval. 
  2. Income level and employment status: Lenders check your capacity to repay a loan. Have a stable job and a reliable income, ideally above S$120,000 per year, before applying for a personal loan. Ensure a solid financial standing for approval.
  3. Loan amount and repayment terms: When applying for a personal loan, know how much you need and for how long to repay it. Choose suitable terms and avoid overborrowing. Make an informed decision and manage your debt responsibly.
  4. Fees and charges: Understand all the fees and charges when applying for a loan, including processing fees, penalties, and late payment fees. Avoid surprises and budget for loan payments to manage your finances effectively.


Getting a $230,000 personal loan in Singapore requires meeting stringent eligibility requirements and selecting a reputable lender with favorable loan terms and interest rates.

Evaluate your financial situation and consider your income level, employment status, credit health, and overall financial goals before taking on a significant personal loan. With careful planning and research, you can acquire and manage a large loan responsibly, achieving your financial objectives in the long run.

Obtain Personal Loans up to Six Times Your Monthly Income from Accredit Moneylender

Need quick cash without any hassle? Look no further than Accredit Moneylender. Our personal loan application process is seamless, allowing you to secure the funds you need with ease. And with loans available to those earning a minimum of S$20,000, you can borrow up to six times your monthly income. Take control of your financial situation and experience peace of mind. 

Apply for a personal loan with Accredit Moneylender today and enjoy the comfort of financial stability.

Accredit Pte Limited has 4 locations island-wide, to bring our transparent services closer to you.


Tampines Branch
(+65 6226 2662)
Yishun Branch
(+65 6219 2662)
Hougang Branch
(+65 6245 2662)
Clementi Branch
(+65 6261 2662)

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