How Much Can I Borrow with a Personal Loan in Singapore?

Financial emergencies can strike without warning, leaving you searching for a lifeline. Enter personal loans – a fast and easy answer to your monetary woes. But before you embrace this financial tool, it’s crucial to comprehend the exact amount you’re qualified to borrow. 

In this article, you’ll uncover the details of loan amounts, the necessary income qualifications, and the factors that impact your borrowing capability in Singapore. Get ready to take control of your finances with confidence!

What is a loan amount?

A loan amount is a critical aspect of the borrowing process, representing the sum of funds that a lender makes available to you. This amount depends on several factors, such as your creditworthiness, income, and the lender’s policies for underwriting.

Comprehending the loan amount is vital when seeking a personal loan. It serves as the foundation for wise financial planning and decision-making. Failing to grasp this crucial aspect can lead to unforeseen financial difficulties, making it essential to your lending journey.

What is the minimum income requirement for a personal loan in Singapore?

Before embarking on your quest to determine the loan amount you wish to borrow, it is vital to assess your eligibility. In Singapore, the majority of banks offer personal loans to both citizens and permanent residents, requiring a minimum yearly income of S$30,000 for qualification. 

Foreigners may also receive loans, though a higher annual income of between S$40,000 to S$60,000 is required. However, for those who may fall below the S$20,000 earnings bracket, licensed moneylenders offer loan options to cater to your financial needs.

Lender Income RequirementSingaporeans/ PRsForeigners 
Bank S$30,000 per yearS$40,000 – S$60,000 per year 
Licensed Moneylender Earn less than S$10,000 or S$20,000 a year Earn less than S$10,000 or S$20,000 a year

How much money can I borrow with personal loans in Singapore?

Gain clarity on the borrowing limits for personal loans in Singapore with the following chart. It provides an extensive breakdown of the borrowing amount available from banks and moneylenders.

Loan providersMinimum Loan AmountMaximum Loan Amount
Licensed Moneylenders S$3,000 for Singaporeans and PRs
S$500 for foreigners 
6x times your monthly salary 
BanksS$500 or S$1,0004x times your monthly salary or
10x times your monthly salary  

What factors affect the amount you can borrow?

There are several factors that can affect the amount you can borrow with a personal loan in Singapore. These include:

  • Income. The amount of loan you can secure depends heavily on your ability to pay it back. A substantial earnings figure usually results in a larger loan size. Conversely, if your earning potential just about meets the bare minimum requirement, then you can expect to obtain a comparatively smaller loan sum.
  • Credit Score. Your credit score is a key factor that influences the loan amount you may receive. A sterling credit score enhances the likelihood of being approved for a more generous loan sum. Conversely, if you have a history of missed or late payments that led to a lower credit score, you can expect to receive a lower loan amount. 
  • Debt-to-Income Ratio. Your debt-to-income ratio (DTI) is crucial in determining your loan amount. A high DTI can make it harder to get approved or result in a lower loan amount. Keep your debt in check and earnings high to maintain a healthy DTI and increase your chances of securing financing.
  • Employment Status. It can also affect the loan amount you receive. Self-employed or low-income individuals often find it challenging to obtain a loan and are usually offered a smaller loan amount. In contrast, employed individuals enjoy a regular salary, which makes it easier for lenders to determine their repayment capability, and therefore may receive a more substantial loan amount.

Compare loan amounts from different personal loans in Singapore

When evaluating loan options, it is essential to consider the loan amount offered by each lender. To simplify the process of comparison, a comprehensive list of loan amounts available from various providers has been compiled to provide a clear understanding of the available options.

Personal LoanMinimum Income AmountMinimum Loan AmountMaximum Loan Amount 
Accredit Personal LoanS$10,000 or less$3,000 for Singaporeans & PRs

S$500 for foreigners 
6x your monthly salary for an income of S$20,000
SCB CashOne Personal LoanS$20,000S$1,0002x monthly salary for yearly income below S$30,000;
4x monthly salary for yearly income greater than S$30,000; 

8x monthly income for yearly income above S$120,000; cap at S$250,000
DBS/POSB Personal LoanS$20,000S$5004x monthly salary;

10x your monthly salary for income greater than S$120,000
OCBC Personal LoanS$20,000S$1,000 4x monthly salary;

6x your monthly salary for income greater than S$120,000
UOB Personal LoanS$30,000S$1,00095% of your available credit limit
HSBC Personal LoanS$30,000S$1,0004x monthly salary for income S$30,000 to S$120,000; 

8x monthly salary for income greater than S$120,000
CIMB CashLite Personal LoanS$30,000S$1,000Up to 90% of your credit card limit 
Citi Quick Cash LoanS$30,000S$1,0004x your monthly salary or S$150,000

Choosing the right personal loan for you

To secure the best personal loan, you must consider several factors beyond just the loan amount. You need to evaluate the interest rate, loan terms, and processing fees, among other things, to make an informed decision. In order to streamline the selection process, we’ve compiled a table of the finest personal loans available in Singapore for your reference.

Personal LoanInterest Rate Loan AmountLoan TermProcessing Fee
Accredit Personal LoanUp to 4% monthly S$1,000 – 6x monthly incomeUp to 1 year10% of the principal amount
HSBC Personal Loan4%
(EIR 7.5% p.a.)
S$1,000 – 8x monthly salary Up to 7 years S$0
SCB CashOne Personal Loan3.48%
(EIR 7.99% p.a.)
S$1,000 – 8x monthly salary Up to 5 years S$0
CIMB CashLite Personal Loan3.38%
(EIR 6.38% p.a.)
Up to 90% of your credit card limit Up to 5 years S$0
UOB Personal Loan3.99%
(EIR 7.49% p.a.)
S$1,000 to 95% of your available credit limitUp to 5 years S$0
DBS/POSB Personal Loan3.88%
(EIR 7.9% p.a.)
S$500 – 10x your monthly salary Up to 5 years 1% processing fee
Citi Quick Cash Loan4.55% p.a.
(8.5% EIR)
S$1,000 – 4x your monthly salaryUp to 5 years S$0
OCBC Personal Loan5.43%
(EIR 11.47% p.a)
S$1,000 – 6x your monthly salaryUp to 5 years S$100


The sum you borrow with a personal loan is a fundamental factor to ponder upon. To ensure you make a wise decision, explore the loan amounts offered by each lender and opt for the one that aligns with your financial circumstance and means. 

Consider the interest rate, repayment period, fees, and other relevant terms, in conjunction with the loan amount, to guarantee a well-informed verdict. Grasping a clear perception of the terms and conditions, inclusive of the monthly payment and the overall cost of the loan, will aid in crafting a solid plan for prompt repayment.

Get Personal Loans Up to 6 Times Your Monthly Income with  Accredit Moneylender

Accredit Moneylender is all about making your personal loan experience hassle-free. We understand that getting a loan can be a daunting process, especially if you’re a low-income earner. That’s why we offer borrowing limits of up to six times your monthly income for that earning over S$20,000.

But don’t worry, we’ve got you covered even if you earn less than S$20,000. You can still qualify for a borrowing limit of S$3,000. We believe that everyone deserves the financial support they need, regardless of their income level.

Our loan application process is quick and easy, so you can get the cash you need in no time. Plus, our approval rates are high, so you can rest assured that your loan will be approved fast. So, why wait? 

Apply now and experience the convenience of hassle-free loan processing with Accredit Moneylender.

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)
Jurong Branch
(+65 6261 2662)

Accredit @ Yishun

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Sat and Sun: 10am – 5pm

Accredit @ Tampines

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Hougang

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm

Accredit @ Jurong

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Operating Hours:
Mon to Fri  : 10am – 8pm
Sat and Sun: 10am – 5pm