Personal Loan

You are eligible to apply if you are a Singapore citizen, Singapore Permanent Resident (PR) or Malaysian (non-PR), between the ages of 21 and 70. If you are a Singapore citizen or Singapore PR, you should also have a minimum annual income of S$20,000. If you are a Malaysian (non-PR), you should have a minimum annual income of S$30,000. By meeting these requirements, you may access the various benefits of a CIMB Personal Loan, which includes competitive interest rate, a generous line of credit and flexible monthly repayment options best tailored to your personal financing needs, and more. 

Your borrowing capacity with a CIMB Personal Loan depends on your annual income in Singapore. You can apply for:

• A loan up to 2x your monthly income if your annual income is between S$20,000 to S$29,999

• A loan up to 4x your monthly income if your annual income is between S$30,000 to S$119,999

• A loan up to 8x your monthly income if your annual income exceeds S$120,000

Please note that the final approval of the loan amount is at the Bank's discretion, with the minimum unsecured loan amount being S$2,000 and the maximum being S$200,000.

The interest rate, or also known as flat interest rate, is calculated based on the assumption that the loan principal remains constant throughout the loan tenure. It helps determine the total interest payable on your personal loan.

The EIR, on the other hand, takes into account the reducing principal balance over the loan tenure, and any upfront processing fee charged. Thus, the EIR tends to be higher than the flat interest rate as it gives a true picture of the cost of borrowing. 

You can use the loan repayment calculator in the online application form to estimate your monthly repayments for your low-interest personal loan based on the interest rates at the time. However, please note that the final approved loan amount is at the Bank's discretion.

The interest rates and processing fees offered to each customer are personalized based on the customer’s personal credit and income profile (subject to the Bank’s discretion), as well as the tenure selected. As such, it may differ from the published rates. The interest rates and fees applicable to you will be provided to you in the loan offer during your application process. 

If you are Singaporean or Singaporean PR (more than 3 years residency) holding SingPass and applying with MyInfo, no additional documents are needed during the Personal Loan application process with CIMB. However, we may request additional documentation if necessary for your unsecured loan.

For Malaysians (non-PR), you will need to provide the following supporting documents in the application

• Malaysian NRIC
• Passport (minimum 6 months validity)
• Latest 3 months payslip
• Foreign Exchange Declaration Form

For more questions about Personal Loan, please visit the detailed FAQ page here.

All payments of the monthly instalment must be made to the loan repayment account.

Payment modes

1.       You may transfer the monthly instalment amount to your loan repayment account via CIMB Clicks Singapore or via FAST using other banks’ internet banking platforms, or

2.      Arrange for scheduled monthly payments to your loan repayment account* with a standing instruction^{^}, by applying through your preferred bank’s digital banking services platform(s), or by contacting your preferred bank, or

3.      Make a payment to your loan repayment account^* via cheque.

Please ensure there are sufficient funds in the loan repayment account by the payment due date.

^*Please note your loan repayment account starts with 10xxxxxxxx

^{^}Please check with your preferred bank on the processing time required to set up the standing instruction. Please ensure you continue to make payment to the loan repayment account* by the relevant payment due date until the successful set up of the standing instruction.

We advise that all loan applications are subject to the Bank’s review and approval, and the final approved loan amount is subject to the Bank’s discretion.

To facilitate a fuss free process and not to delay customer in receiving the funds, disbursements will take place immediately after Bank’s approval even for certain cases* where the approved amount is less than what was requested.

*Subjected to Bank’s review