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CIMB Personal Loan stands as one of the best personal loan options in Singapore, specifically crafted to empower your financial journey. Currently CIMB Personal Loan offers low interest rates from 2.80%* p.a. (EIR from 5.28%), one of the lowest rate in the market and up to S$2,000 cashback promotion. Tap on this offer to enjoy the additional cashback on hand!

Features & Benefits

Low Interest Rate Attractive Cashback Promotion Generous Credit Line Flexible Tenures
Low Interest Rate
Attractive Cashback Promotion
Generous Credit Line
Flexible Tenures

How to apply

New Application

For new customers, submit your application online using MyInfo for a quick and fuss-free application. Takes less than 10mins to apply.
 

Apply Now

Approval in Principle

For customers who have received the notification to accept the loan offer, complete your application by entering your Application Reference No. via the link below.

Accept AIP

Interest & Tenure

Our commitment to transparency means that all rates are clearly displayed in the table below. Check the interest rate here so you have all the information you need upfront.

  Loan amount less than S$5,000 Loan amount S$5,000 - S$9,999 Loan amount less than S$10,000 - S$29,999 Loan amount S$30,000 and above
Processing Fee 1% Waived Waived Waived
Tenure (Years) Interest Rate (p.a.)

EIR (p.a.)

Interest Rate (p.a.) EIR (p.a.) Interest Rate (p.a.) EIR (p.a.) Interest Rate (p.a.) EIR (p.a.)

 1

9%

 18.15%

 5%

9.10% 4.00% 7.30% 4.00% 7.30%

2

 17.46%

9.32% 7.50% 7.50%

3

 16.96%

 4.48%

8.38% 3.38% 6.38% 2.80% 5.31%
4 16.54% 8.33% 6.36% 5.30%
5 16.17% 8.26% 6.32% 5.28%

 

Illustration

Use the Personal Loan Instalment Calculator to find out your estimated monthly instalment and total payment amount. Here’s how much you will be paying on a loan of S$10,000 at 3.38% p.a. for 3 years:

Loan Amount S$10,000
Interest Rate 3.38% p.a. (EIR 6.38% p.a.)
Tenure 3 years
Processing Fee 0%
Total Interest Payable 3.38% p.a. x S$10,000 x 3 years = S$1,014
Total Repayment  S$11,014
Monthly Instalment S$306.00

Personal Loan Cashback Promotion

The CIMB Personal Loan Cashback Promotion, offers a limited-time opportunity for eligible applicants to enjoy exclusive benefits. Get Cashback of up to S$2,000^ based on below qualifying approved loan amount and tenure.

 

Tenure

Approved Loan Amount Cashback Earned
3, 4 or 5 years

 

S$8,000 - S$14,999 S$50
S$15,000 - S$49,999 S$300
S$50,000 - S$79,999 S$750
S$80,000 - S$149,999 S$1,000

S$150,000 and above

S$2,000

Eligibility

Only Singapore Citizens or Singapore Permanent Residents (PRs): Minimum annual income S$20,000

Eligible age

  • 21 - 70 years old

How CIMB Personal Loan Can Help You

 

Whether undertaking significant home renovations, planning a wedding, or addressing unexpected expenses, CIMB personal loan offers a reliable source of funds. Its features, such as competitive interest rates, flexible repayment terms and a streamlined approval process, are designed to provide the financial support you need to transform aspirations into realities.

 

Home Renovations and Improvements

Renovating a home is no simple feat. When savings fall short, you can consider taking a personal loan to cover the shortfall. Offering a streamlined application process that takes just 10 minutes, personal loans from CIMB become a convenient choice for homeowners eager to kickstart their renovation projects without any delay. Explore the benefits of personal loans and renovation loans to ease your cash flow. Read this article to find out which loan fits your renovation journey best!

Wedding and Major Life Events

From securing the perfect venue to managing catering, wedding expenses can escalate quickly. While these costs can become a source of stress, casting a shadow over the joyous occasion, choosing the best personal loan can ensure these milestone moments are as memorable and grand as envisioned. It is essential, though, to approach this with a plan and spend responsibly. A loan may provide the means, but prudent financial management ensures these special moments remain joyful without lingering financial worries.

Emergency Expenditures

Accidents, sudden illnesses, or required medical procedures can occur without warning. Even with comprehensive health insurance, there might be deductibles or treatments that aren't entirely covered. When these situations arise, the associated costs can be daunting, especially if they fall outside your monthly budget or exhaust your emergency funds.

 

During a financial emergency, applying for a personal loan can be a viable option. Personal loans, especially with trusted banks like CIMB that offer fast approval and transparent interest rates ensures that you can access funds promptly. This speed is crucial during emergencies, where every moment counts.

Postgraduate Education

Pursuing postgraduate studies, be it a Master's degree or a Ph.D., can significantly enhance one's expertise, opening doors to specialised fields and high-demand roles.

 

However, the costs associated with postgraduate studies, including tuition, research materials, living expenses, and international exposure, may be steep. While scholarships and sponsorships are excellent avenues to mitigate these costs, they're often limited and competitive. In this case, students too can consider personal loans to cover these expenses and opt for a flexible repayment structure that aligns with their future earning potential.

Small Business Ventures

Whether it’s running a craft shop, a tech start-up, or a freelance venture, these endeavours often require initial capital. Personal loans can be a lifeline in this scenario, providing the necessary funds for initial investments in equipment, marketing and more. These loans can also aid in managing cash flow during unpredictable early stages, ensuring smooth operation. With careful planning, personal loans can effectively support and nurture your entrepreneurial aspirations.

Frequently Asked Questions (FAQ)

What are the eligibility requirements for CIMB Personal Loan?

You are eligible to apply if you are a Singapore citizen or a Singapore Permanent Resident (PR), between the ages of 21 and 70. You should also have a minimum annual income of S$20,000. 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.

What is the maximum loan amount that I can apply for?

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.

Why is the Interest rate (flat interest rate) different from the Effective Interest Rate?

The 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 Effective Interest Rate, 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.

How can I find out the estimated monthly repayment amount?

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

Do I need to provide any documents for the application of personal loan with CIMB?

If you are a SingPass holder 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 more questions about Personal Loan, please visit the detailed FAQ page.

How do I make payment for the monthly instalment?

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

 

Modes of Payment

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.       Set up a GIRO payment on your Loan repayment account, or

3.       Make a payment via cheque.
 

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

 

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

Terms and Conditions

#Only for customers with annual income of S$120,000 and above. Final approval amount is subject to the bank’s discretion.

^Only applicable for CIMB Personal Loan with minimum approved loan amount of S$8,000 and minimum tenure of 3 years. For more details, please refer to CIMB Personal Loan Cashback Promotion 2023 Terms and Conditions

*One of the lowest online published personal loan interest rates among banks in Singapore as of 23 February 2024.

Please note the minimum loan amount is S$2,000.

For all Terms & Conditions for the CIMB Personal Loan, you can learn more by clicking on the links below:

General Terms and Conditions Governing Personal Loans
 

CIMB Personal Loan Product Terms