How Much Personal Loan Can I Get on S$60,000 Salary in Singapore?

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:

Age21 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 IdentityNRIC, Passport, EPass (for foreigners)
Proof of AddressTelecommunication bills, Utility bills, Bank statements
Proof of EmploymentJob offer letter, Employment contract, Employer letter
Proof of IncomeBank 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 ProviderInterest RateMinimum IncomeLoan AmountProcessing Fee
Accredit Personal LoanUp to 4% per month S$20,000 $3,000 – 6x monthly income10% of the Principal Amount
DBS/POSB Personal Loan3.88%
(EIR 7.9% p.a.)
S$20,000S$500 – 4x monthly salary1% processing fee
OCBC Personal Loan5.43%
(EIR 11.47% p.a)
S$20,000S$1,000 – 4x monthly salaryS$100
Standard Chartered CashOne3.48%
(EIR 7.99% p.a.)
S$30,000S$1,000 – 4x monthly salary S$0
Citi Quick Cash Loan3.45% 
(EIR 6.5% p.a.)
S$30,000S$1,000 – 4x monthly salary 0%
HSBC Personal Loan4% 
(EIR 7.5% p.a.)
S$30,000S$1,000 – 4x monthly salary S$0
UOB Personal Loan3.99%
(EIR 7.49% p.a.)
S$30,00095% of your available credit limit0%

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.

Take charge of your finances and experience tranquility by submitting your personal loan application to Accredit Moneylender today.

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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Operating Hours:
Mon to Fri  : 10am – 8pm
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