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    We found 1 CIMB Personal Loan
    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 4.5% p.a. EIR from 8.21% p.a.
    1-5 Years
    What you'll love
    What you need
    What you need to consider
    What it costs

    CIMB Personal Loan

    CIMB Bank Singapore is part of the CIMB Group, which is the fifth largest banking group among the Association of Southeast Asian Nations (ASEAN) countries. CIMB Singapore offers all kinds of financial services and products – credit cards, personal loans, home loans, car financing, investment and insurance options, etc. CIMB Bank’s personal loans cover a wide variety of personal needs and come at reasonable interest rates.

    You’re probably eligible for a CIMB Bank Personal Loan if you are

    CIMB Bank Personal Loan Minimum Age

    Atleast 21 years

     CIMB Bank Personal LoanMaximum Age

    Less than 60 Years

     CIMB Bank Personal Loan Eligible Employment Type

    Salaried or self-employed with regular income

     CIMB Bank Personal Loan Minimum Income

    Earn more than the minimum income required

    Your CIMB Bank Personal Loan amount eligibility is based on these factors

     CIMB Bank Personal Loan Minimum Salary

    Minimum income required S$10,000

     CIMB Bank Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Max loan of up to six (6) times of your monthly income or S$30,000

     CIMB Bank Personal Loan EMI

    EMIs of other loans lower your eligibility

    Increase your eligible CIMB Bank Personal Loan amount by these steps

     CIMB Bank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

     CIMB Bank Personal Loan Tenure

    Choose longer tenure loan up to 5 Years

    Documentation needed to apply for an CIMB Bank Personal Loan

    • 1.Photocopy of NRIC
    • 2. Salaried Employee:
      • Latest Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 3. Variable Income/Commission Based Earner:
      • Latest 6 months Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 4. Self-Employed:
      • Income Tax Notices of Assessment (NOA) for past 2 years
    • 5.Any other documents as may be requested by the Bank at its sole discretion

    CIMB Bank Personal Loan DetailsUpdated on 26 Jul 2017

    CIMB Bank Personal Loan Details
    Interest Rate 7.08 - 8.08%
    Minimum Income S$10,000
    Tenure 5 Years
    Guarantor Requirement guarantee required

    Why choose CIMB personal loans

    Here are the key reasons why CIMB Bank’s personal loans are the most suitable for you:

    • You can use CIMB personal loans for various purposes such as education of self or children, investment, personal needs or home renovation.
    • The interest rates are low and repayments are affordable.
    • There is no processing fee for certain loan products.
    • Secured personal loans are also available, and you can pledge several kinds of assets to get the loan. You can get loan of up to 100% of the collateral.

    Types of CIMB personal loan

    CIMB has several loan products under its Personal Loan category. They are:

    • CIMB CashLite: This is a personal instalment loan with preferential interest rates. You can get up to 80% of your credit limit as loan. You can choose from flexible loan tenures of up to 5 years.
    • CIMB Portfolio Financing: This is an interest-only secured loan in which you don’t have to pay any processing fee or annual fee. Several collaterals are accepted, including stocks and shares, unit trusts, and fixed deposits. You can get up to 100% of the value of your asset as loan.
    • CIMB Debt Consolidation Plan: This loan is to help you settle all your high-interest unsecured debt. CIMB offers structured repayments with flexible loan tenures between 1 to 8 years.
    • CIMB Education Loan: This loan can be taken for educational expenses for yourself or your child. It comes with an Interest Servicing Scheme and you can borrow up to 8 times your monthly income.
    • CIMB Renovation Loan: You can use this loan for all residential properties – completed and under construction properties. You can borrow up to 6 times your monthly income with no hidden fees and charges.

    CIMB personal loan features & benefits

    The main features and benefits of a CIMB personal loan are:

    • Interest rate options: CIMB offers various types of interest rates for personal loans including the bank’s internal board rate called CIMB Prime Rate or CPR, LIBOR-pegged rates and SIBOR-pegged rates.
    • Flexible loan periods: Depending on the type of personal loan, CIMB offers flexible loan tenures of up to 10 years.
    • Minimal fees and charges: CIMB charges nominal to nil processing fee of up to 2% on their personal loans.
    • Other benefits: The bank offers free cashier’s orders or cheque book or credit card with certain personal loans.

    CIMB personal loan eligibility & documentation

    The main parameters that an applicant has to meet to get a CIMB personal loan are:

    • Some of the CIMB personal loans are only available to Singapore Citizens and Permanent Residents.
    • You need to be a minimum of 21 years old.
    • The minimum income required is S$24,000 to S$30,000 in a year.

    The following documents must be submitted to apply for CIMB Personal Loans:

    • Photocopy of NRIC or Passport
    • Employment permit or S Pass
    • Income proof documents for salaried employees include:
      • Most recent computerized/electronic payslips (up to 3 months)
      • Last 12 months CPF Contribution Statement
      • Most recent Income Tax NOA (Notice of Assessment)
    • Proof of ownership of the collateral you intend to pledge.

    Depending on the type of personal loan, additional documents may be requested.

    CIMB personal loan promotions

    The bank is offering NTUC FairPrice Vouchers worth S$80 if your application for the CIMB Debt Consolidation Plan is approved before 31st May, 2017.

    CIMB personal loan interest rates

    The interest rates charged by CIMB on its personal loan products are given in the table below:

    Product Tenure Flat Interest Rate (p.a.) Effective Interest Rate (EIR p.a.)
    CIMB CashLite 1 year 4.5% 8.21%
    2 years 4.5% 8.41%
    3 years 4.5% 8.41%
    4 years 4.5% 8.36%
    5 years 4.5% 8.29%
    CIMB Portfolio Financing Any tenure Linked to LIBOR or SIBOR
    CIMB Debt Consolidation Up to 8 years Depends on your income and loan amount
    CIMB Education Loan The first 4 years (during study tenure) CIMB Prime Rate + 0.49% p.a. NA
    5 years CIMB Prime Rate - 0.11% p.a. 6.44%
    6 years 6.34%
    7 years 6.27%
    8 years 6.21%
    9 years 6.15%
    10 years 6.11%
    CIMB Renovation Loan 1 year 2.98% 4.85%
    2 years 3.87% 4.85%
    3 years 4.18% 4.85%
    4 years 4.34% 4.85%
    5 years 4.44% 4.85%

    CIMB personal loan fees & charges

    The fees and charges associated with CIMB’s personal loan products are:

    • Processing fee: 2% for Education Loan; 1% for Renovation Loan. This fee is charged if your loan is approved and the fee is taken upfront.
    • Cancellation fee: 1% of the loan amount for Renovation Loan, Education Loan and Portfolio Financing; 3% of the outstanding amount for CIMB CashLite. This is applicable if you cancel the loan before disbursement but after the loan is approved.
    • Prepayment fee: 1% of the prepayment amount in case of Renovation Loan and Education Loan. This is levied if you want to make advance payments to your loan account before the tenure ends.
    • Late payment fee: S$80 for all loans. This is charged if you fail to make monthly repayments on time.

    Other minor fees such as cheque cancellation fee annual fee are also applicable on certain kinds of loans.

    CIMB EMI calculator

    If you want to know what your Equated Monthly Instalments (EMI) for your loan are, in order to plan your finances well, an EMI Calculator is the way to go. It is a simple and easy-to-use tool. CIMB has three calculators on its website: the Renovation Loan EMI Calculator, the Education Loan Standard Repayment Calculator and the Education Loan Interest Servicing Repayment Calculator.

    For example, in the Renovation Loan EMI Calculator, you need to input just the loan amount and tenure. If the loan amount is S$12,000 and the duration is 3 years, the calculator will tell you that the monthly repayment amount will be S$356.

    For the Education Loan Interest Servicing Repayment Calculator, you need to enter the loan amount, course duration and loan period. E.g., for a loan amount of S$25,000, course duration of 36 months and loan tenure of 10 years, the calculator will tell you that the interest servicing period would be 3.5 years and the monthly interest during the servicing period would be S$125 and the EMI after the servicing period would be S$381.

    How to apply for CIMB personal loan

    You can apply for a personal loan from CIMB through the following ways:

    • Online application: You can apply for certain CIMB personal loans online by filling in the application form, uploading the necessary documents and submitting your completed application to the bank.
    • LUCY: You can fill in your personal and contact details on CIMB Bank’s “Let Us Call You” or LUCY form available on the official CIMB Singapore website. A representative from the bank will then contact you to take the application process forward.
    • Call the bank: You can contact the bank on their Personal Banking Hotline Number on all days (Monday to Sunday) between 9 am and 9 pm.
    • Email the bank: You can email the bank and you will receive a response within 1 working day.
    • Visit the bank: You can visit your nearest CIMB Bank branch, speak with a member of the staff and apply for a personal loan, in person.

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