How Long Are Personal Loans in Singapore?

Are you pondering the idea of securing a personal loan in Singapore? One of the crucial components of your loan decision-making process should be determining the loan’s repayment term. 

How long will you be obligated to pay back the borrowed amount, plus interest? This article will delve into the loan tenure of personal loans in Singapore and equip you with the information necessary to make a knowledgeable choice.

The Basics of Personal Loans in Singapore

The arena of personal loans in Singapore offers a diverse range of options for individuals seeking financial assistance. These options encompass unsecured loans, secured loans, and payday loans. 

Personal loan applicants in Singapore must be either citizens or permanent residents, and they must also meet the lender’s income requirements and credit score standards.

From a few hundred to several thousand dollars, loan amounts are quite flexible, and interest rates are based on a mix of lender policies and the applicant’s creditworthiness.

What is Loan Tenure?

The loan tenure in the context of personal loans refers to the duration over which the loan must be repaid, encompassing both the principal amount and the associated interest. The selected repayment period will have a direct impact on the monthly payment amount; therefore, it is imperative to thoroughly evaluate one’s financial situation prior to making a decision.

How Long Are Personal Loans in Singapore?

The loan landscape in Singapore is characterized by a wide range of personal loan options, with repayment terms that usually extend from one to five years. The precise term of the loan may fluctuate, dependent upon the loan amount and the lending institution. If you’re seeking a longer repayment window, some lenders do offer terms that go up to seven years.

What factors should be considered when choosing a personal loan tenure?

The duration of your personal loan is an essential element that can greatly influence your financial equilibrium in the future. Thus, it’s crucial to consider several pivotal factors before determining the ideal tenure that suits your financial needs.

Loan amount

Your borrowing needs will play a role in determining the loan tenure. If you’re borrowing a considerable sum, it may be wise to opt for a longer repayment tenure to ensure that you’re able to meet the affordable monthly payments. On the other hand, if your borrowing needs are relatively modest, a shorter repayment period may be the way to go.

Repayment capacity

To ensure a smooth and stress-free repayment journey, it’s crucial to assess your current financial standing and income before committing to any loan agreement. Take a moment to gauge your comfort level with the proposed repayment terms, and consider whether your monthly income can accommodate the added debt. 

Interest rate

The length of your loan tenure can also significantly impact your interest cost, which makes it vital to consider the interest rate when selecting your preferred duration. It’s essential to note that longer loan tenures come with increased interest costs, while shorter tenures result in lower overall interest payments.

Purpose of the Loan

Lastly, the intended usage of the loan can significantly impact the optimal repayment period. For instance, if you require funds for a brief and urgent expense such as a medical emergency, then opting for a shorter tenure may be prudent. Conversely, if you are borrowing to make a long-term investment in your business, a longer repayment period may be appropriate to ensure manageable cash flow. 

Compare personal loan repayment rates in Singapore

With so many lending options available in Singapore; it can be a challenge to determine which personal loan provider offers the best repayment terms. Some providers, like Accredit, offer a short loan tenure lasting just one year.

In many traditional banks like Standard Chartered and UOB, to international powerhouses like Citibank, most lenders cap their loan tenure at 5 years. However, there are a few select providers, like HSBC and Bank of China, that extend the repayment period to a full 7 years. 

Personal LoanMinimum Loan TenureMaximum Loan Tenure 
Accredit Personal Loan1 year 1 year 
Standard Chartered CashOne Personal Loan1 year 5 years 
UOB Personal Loan1 year5 years 
DBS Personal Loan1 year5 years
POSB Personal Loan 1 year5 years
OCBC ExtraCash Loan1 year5 years
Citibank Quick Cash1 year5 years
CIMB CashLite Personal Instalment Loan1 year 5 years
Maybank CreditAble Term Loan1 year5 years 
HSBC Personal Loan1 year 7 years
BOC $martLoan1 year7 years 

Choosing the Right Personal Loan for You

When it comes to choosing a personal loan, simply focusing on the loan tenure won’t cut it. It’s imperative to weigh in on the interest rate, loan amount, and processing fees to make an informed decision. To help simplify your decision-making process, here is a table of recommended personal loans in Singapore.

Personal LoanInterest Rate Loan AmountProcessing Fee
Accredit Personal LoanUp to 4% monthly S$1,000 – 6x monthly income10% of the principal amount
HSBC Personal Loan4%
(EIR 7.5% p.a.)
S$1,000 – 8x monthly salary S$0
SCB CashOne Personal Loan3.48%
(EIR 7.99% p.a.)
S$1,000 – 8x monthly salary S$0
CIMB CashLite Personal Loan3.38%
(EIR 6.38% p.a.)
Up to 90% of your credit card limit S$0
UOB Personal Loan3.99%
(EIR 7.49% p.a.)
S$1,000 to 95% of your available credit limitS$0
DBS/POSB Personal Loan3.88%
(EIR 7.9% p.a.)
S$500 – 10x your monthly salary 1% processing fee
Citi Quick Cash Loan4.55% p.a.
(EIR 8.5% p.a.)
S$1,000 – 4x your monthly salaryS$0
OCBC Personal Loan5.43%
(EIR 11.47% p.a)
S$1,000 – 6x your monthly salaryS$100


When searching for the ideal personal loan in Singapore, it’s essential to delve beyond the surface-level loan amount. To make a choice that aligns with your financial circumstances, you need to examine the interest rate, loan terms, and processing fees.

In Singapore, loan tenure options range from a compact 1 year to a generous 7 years. If you take your time to think things through, you may choose a personal loan that will get you closer to achieving your goals.

Longer Term Personal Loan – Accredit Moneylender

Accredit Moneylender offers unmatched personal financing alternatives in Singapore, featuring extended tenures that enable efficient management of repayment schedules. Our philosophy is grounded on the belief that personal loans and financing solutions should ease the challenges that borrowers face, rather than add to their financial burdens. Longer tenures allow borrowers to alleviate their monthly debt obligations and achieve greater peace of mind.

Take control of your finances and attain the freedom you deserve by applying today, regardless of any financial difficulties that may arise.

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)

Accredit @ Yishun

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Accredit @ Tampines

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Accredit @ Hougang

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Accredit @ Clementi

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