
The secret to unlocking the maximum personal loan on a S$60,000 salary in Singapore lies in the hands of the financial institution, your credit score, existing financial obligations, and the tenure of the loan.
Financial institutions and banks in Singapore ordinarily present personal loans to S$60,000 income earners, which is four times their monthly income. If you’re qualified for the maximum sum and have a decent credit score with no current dues.
Follow this calculation:
Monthly salary: S$60,000 / 12 = S$5,000 Loan multiple (taking the maximum of 4 times monthly salary): S$5,000 * 4 = S$20,000 |
But wait! Don’t get too excited. Note that this is only an approximate estimation, and the actual amount you could obtain may be lower due to the lender’s fine print and your financial status.
Personal Loan Qualification with a 60k Annual Salary

To secure a personal loan, you must satisfy specific requirements. Here’s a quick overview of the papers that demonstrate your eligibility:
Age | 21 to 65 |
Citizenship Status | Singaporean, permanent resident, or foreigner residing in Singapore |
Minimum Income Requirement | S$30,000 |
Employment Status | Employed full-time or self-employed |
Required Documentation

Streamlining the loan application process is crucial. Hence, having the following necessary documents readily available before applying will ensure quick approval:
Proof of Identity | NRIC, Passport, EPass (for foreigners) |
Proof of Address | Telecommunication bills, Utility bills, Bank statements |
Proof of Employment | Job offer letter, Employment contract, Employer letter |
Proof of Income | Bank statements, CPF, NOA, computerized payslip |
Best Personal Loan for 60000 Salary in Singapore

Having a yearly income of S$60,000 in Singapore opens the doors to a range of banking options, as most banks stipulate a minimum annual salary of S$30,000. Yet, if your credit rating isn’t in the best shape, there’s no need to panic. Licensed moneylenders, like Accredit, can still extend the financial aid you need.
Personal Loan Provider | Interest Rate | Minimum Income | Loan Amount | Processing Fee |
Accredit Personal Loan | Up to 4% per month | S$20,000 | $3,000 – 6x monthly income | 10% of the Principal Amount |
DBS/POSB Personal Loan | 3.88% (EIR 7.9% p.a.) | S$20,000 | S$500 – 4x monthly salary | 1% processing fee |
OCBC Personal Loan | 5.43% (EIR 11.47% p.a) | S$20,000 | S$1,000 – 4x monthly salary | S$100 |
Standard Chartered CashOne | 3.48% (EIR 7.99% p.a.) | S$30,000 | S$1,000 – 4x monthly salary | S$0 |
Citi Quick Cash Loan | 3.45% (EIR 6.5% p.a.) | S$30,000 | S$1,000 – 4x monthly salary | 0% |
HSBC Personal Loan | 4% (EIR 7.5% p.a.) | S$30,000 | S$1,000 – 4x monthly salary | S$0 |
UOB Personal Loan | 3.99% (EIR 7.49% p.a.) | S$30,000 | 95% of your available credit limit | 0% |
Final Thoughts
The pursuit of a personal loan worth S$20,000 can seem attainable with a stable yearly income of S$60,000. However, the journey towards securing it is no easy feat. The amount you can receive hinges on various elements such as your credit score, existing liabilities, and the lender’s requisites. To heighten your likelihood of being approved, meticulous preparation and timely submission of required paperwork are crucial, along with meeting the necessary prerequisites.
Unlock Up to 6x Your Monthly Income in Personal Loans with Accredit Moneylender
When you’re in need of cash urgently, there’s no need to look any further than Accredit Moneylender. Our personal loan application process is seamless, ensuring that you get your funding quickly. Additionally, if your annual income is S$20,000 or higher, you can receive loans up to six times your monthly income. Say goodbye to the worry and anxiety associated with unforeseen expenses.