Personal Loans

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Get up to4x* your monthly salary (6x* if annual income is more than SGD120,000).

  1. Minimum loan amount of SGD5,000 to a Maximum loan amount of SGD100,000 applicable
  2. Choose between Term Loan or Overdraft
    • Term Loan – Monthly Repayment is fixed (Principal +Interest)
    • Overdraft - Monthly Repayment may vary on amount utilized (Fixed Principal repayment + Interest on amount utilized)

Please note that the interest rate varies:

1) Personal Loan Interest Rate Packages ( Term Loan)

Tenure (Years) 1 2 3 4 5
Nominal Interest Rates (per annum) 4.66% 4.55% 4.27% 5.44% 5.79%
Effective Interest Rates (per annum)^ 8.50% 8.50% 8.00% 10.00% 10.50%

2) Personal Loan Interest Rate Packages (Overdraft)

Tenure (Years) 1 2 3 4 5
Effective Interest Rates (per annum)^ 10.50% 10.50% 10.00% 12.00% 12.50%

  1. Choose repayment period between 1,2,3,4 5 years
  2. Application can be initiated online and required to visit any of our branches at approval
  3. Debit card with MasterCard facility provided. Optional- Cheque Book facility available.
  1. SGD 88 processing fee waived as new launch promotion for Personal Loan (Term Loan). Processing Fee of SGD 88 for Personal Loan (Overdraft)applies. **
  2. Full repayment of the loan facility within the Loan Tenure period is subject to a pre-payment fee of:
    • 3% of the outstanding facility amount or $300 whichever is higher if repaid within 1st year from the disbursement of the loan facility or
    • 2% of the outstanding facility amount or $100 whichever is higher if repaid after the 1st year but within the Loan Tenure period.
    • There is a 1 month notice period for full prepayment/redemption
  3. No partial Prepayment is allowed
  1. Residency Status: Singapore citizens and PRs
  2. Annual Income: Minimum S$30,000 p.a.
  3. Employment:
    • Salaried or variable/commission-based employees
    • Self-employed
  4. Entry Age: 21-55 years old

Documentation Required

  1. Manual / Online Application Form
  2. Copy of NRIC
  3. SBIS loan-servicing account (SBI Special Savings Account or Check plus Account)***
Salaried Employee:
  • Latest 3 months’ computerized pay slips and
  • Latest 12 months’ CPF contribution history statement or Latest 1 year Income tax notice of assessment
  • Minimum 2 years working experience in Singapore
Variable / Commission-based Earner:
  • Latest 15 months’ CPF contribution history statement or Latest 2 years’ Income tax notice of assessment
  • Minimum 2 years working experience in Singapore
Self-employed:
  • Latest 2 years’ Income tax notice of assessment
  • Minimum 3 years working experience in Singapore
  1. Click here
  2. Walk in to any of our branches and talk to our Relationship Managers.

  1. ^ E.I.R: Effective Interest Rate – inclusive of stipulated processing fee.
  2. * SBI may grant such credit limit at its discretion, which may differ from what is requested.
  3. ** Applicable only to Personal Loan (Term Loan). SBI may, at its discretion, revise these terms and conditions (including but not limited to varying the Promotional Period) or withdraw this Processing Fee Waiver Promotion at any time without prior notice.
  4. *** SBIS Special Savings Account or Check plus Account will be required as the loan-servicing account, all terms and conditions pertaining to these accounts are applicable.

Terms & Conditions for SBI Personal Loan Scheme