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When taking out a personal loan from a bank, it’s important to be familiar with all the terms in order to make informed financial decisions. CIMB’s personal loan calculator offers a straightforward way to see a loan’s monthly repayments, total cost, and interest rates at a glance. Let's explore how to use this tool to estimate costs if you’re searching for personal loans online with fast approval.

Step-by-Step Guide to Using CIMB’s Personal Loan Calculator

1. Access the Calculator

First, visit the CIMB personal loan page and click on “Apply Now”. You’ll land on Personal Loan Calculator to get started. Alternatively you may access the calculator directly from here.

2. Enter Your Monthly Income

Begin by entering your monthly income into the topmost field. If your fixed monthly salary is S$4,000, you would enter the amount where it says “My Monthly Income”. This step determines the indicative maximum personal loan amount that you may be able to borrow.

3. Enter Your Desired Personal Loan Amount

Next, specify how much you want to borrow. Let's say you want to take out a personal loan of S$10,000. Enter this figure into the box under the “Requested Loan Amount” section, or use the slider. The indicative maximum loan amount you are eligible to borrow will be indicated on the slider, which is determined by the monthly income you entered in the previous field.  However, do note that the final approved loan amount is still subject to the bank’s review and discretion.    

4. Choose Your Loan Repayment Period

After you’ve entered your monthly income and the requested personal loan amount, it’s time to choose your repayment period. Just below where you entered the loan amount, you’ll see a slider for the repayment term with fixed intervals from 12 to 60 months. Simply drag the slider to your preferred duration. For illustration purpose, we’ve selected a repayment period of 24 months.

5. Review Your Results

Once you have entered your monthly income, requested loan amount, and repayment period, the calculator will automatically provide you with a breakdown of your personal loan.


  • Monthly income: S$4,000

  • Requested Loan Amount: S$10,000

  • Repayment Period: 24 months


Based on the figures above, our estimated repayment breakdown is:

What do these numbers and terms mean? Let’s take a closer look.


  • Monthly Installment Amount: This is the fixed amount you'll need to pay each month towards the loan principal and interest. In this example, the monthly instalment amount would be S$450.


  • Last Installment Amount: This is the final installment payment you make, which may sometimes differ from your monthly installments due to rounding. In our example, the last instalment amount would be S$450. 


  • Total Repayment (including any processing fee): This figure represents the complete amount you'll pay back over the life of your personal loan, including the principal, interest, and processing fee, assuming prompt repayment. In this example of S$10,000 loan with a 4% annual interest rate and a 2-year term, the total repayment amounts to S$10,800. 


  • Interest Rate (p.a.): This is the annual interest rate charged on the borrowed sum without compounding. In this example, the interest rate is 4% for a S$10,000 loan. However, the percentage figure can change depending on your personal loan repayment period. 


  • Effective Interest Rate (p.a.): This figure reflects the actual cost of borrowing by taking into account the reducing principal balance over the selected loan tenure. It calculates how the interest rate applies while the principal amount is being paid off for an accurate picture of the interest on an annualised basis. In this example, the effective interest rate on a S$10,000 loan repaid over 2 years is 7.5%.


  • Processing Fee: Any additional charges applied by the lender to cover the cost of processing your personal loan. In this example, there is no processing fee.


Get a Personal Loan with CIMB

Looking for the best personal loan in Singapore? CIMB offers one of the lowest interest rates on the market, starting from 2.80%* p.a. (EIR from 5.28%) and up to S$2,000* cashback upon approval of your personal loan. Calculate your repayment and apply online to borrow up to 8 times^ your monthly income in less than 10 minutes!



*Terms and conditions apply.

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