• Personal Loan BYTES FROM OUR KITCHEN

    POSB Personal Loan Interest Rates

    POSB offers great personal loan products at excellent interest rates. If you earn S$120,000 annually, you will receive funds of up to 4 times your monthly income. When you apply for this loan, you will get your loan application accepted quickly if you meet all your requirements. The funds will be credited to your POSB or DBS account right after your loan application is approved.

    Interest rates for POSB personal loans

    The personal loans for POSB have fixed interest rates and these rates start from as low as 5.88% p.a. You can repay your loan within 5 years. The effective interest rate starts from 11.32% p.a. and goes up to 26.62% p.a.

    Interest table for different incomes

    If you earn S$30,000 and above annually, then your interest rates will be as follows:

    Loan period Annual interest rate (% p.a.) Effective interest rate (% p.a.) Processing fee
    12 months 7.99% 19.70 3%
    24 months 7.99% 17.28 3%
    36 months 7.99% 16.23% 3%
    48 months 7.99% 15.56% 3%
    60 months 7.99% 15.07% 3%

    When your annual income ranges from S$20,000 to S$30,000, your interest rates will be as follows:

    Loan period Annual interest rate (% p.a.) Effective interest rate (% p.a.) Processing fee
    12 months 11.00% 26.62 4%
    24 months 11.00% 23.26 4%
    36 months 11.00% 21.74 4%
    48 months 11.00% 20.75 4%
    60 months 11.00% 20.01 4%

    Promotional rates for applicants who earn a minimum income of S$30,000

    You can enjoy promotional interest rates on POSB personal loans if your loan for more than S$3,000 is approved. Let us take a look at the promotional interest rates:

    Loan period Annual interest rate (% p.a.) Effective interest rate (% p.a.) Processing fee
    36 months 5.88% 12.04% 2%
    48 months 5.88% 11.62% 2%
    60 months 5.88% 11.32% 2%

    POSB Debt Consolidation Plan

    You can consolidate every unsettled balance of all your debt products into one debt plan. You can make your repayments on a monthly basis in installments. This will benefit you as you do not have to repay different loans at different times. You can avoid multiple payments at various intervals. The loan tenure for this product is up to 8 years.

    Interest rates for POSB Debt Consolidation Plan

    The interest rates for this personal loan product offered by POSB start from 9.8% p.a. This is the effective interest rate.

    POSB Balance Transfer

    You can transfer your balances from Cashline accounts and credit cards of other banks to your POSB account. When you do this, you can monitor your finances efficiently. This personal loan product offered by POSB will allow you to make payments flexibly.

    Interest table for POSB Balance Transfer

    Let us discuss the interest rates for this personal loan product:

    Loan period Applied interest rate (p.a.) Effective interest rate (p.a.) Administration fee
    6 months 0% 7.52% (Cashline) 7.61% (Credit card) 3.58%
    12 months 0% 7.12% (Cashline) 7.32% (Credit card) 6.38%

    Promotional interest rates for POSB Balance Transfer

    These are the promotional interest rates exclusively available for online applications:

    Loan period Applied interest rate (p.a.) Effective interest rate (p.a.) Administration fee
    6 months 0% 5.27% (Cashline) 5.34% (Credit card) 2.5%
    12 months 0% 5.06% (Cashline) 5.20% (Credit card) 4.5%

    How to apply?

    You can apply for any of these personal loan products simply by visiting the POSB official website or by calling their customer care centre. You can also meet a representative at your nearest POSB bank branch and fill a loan application.

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