Personal Loan Calculator Singapore 2026
Estimate your monthly personal loan repayments in Singapore using the Effective Interest Rate (EIR). Adjust the loan amount, tenure, and interest rate to plan your finances.
S$
months
%
Monthly Repayment$589.41
Total Interest Paid$1,218.86
Total Repayment$21,218.86
EIR vs Flat Rate
Flat rate calculates interest on the original loan amount throughout the tenure. Effective Interest Rate (EIR) accounts for reducing principal, making it the true cost of borrowing. EIR is always higher than the flat rate for the same loan. This calculator uses EIR.
How to Use This Calculator
- Enter the total loan amount you wish to borrow.
- Set the loan tenure in months (e.g. 36 months for 3 years).
- Key in the annual Effective Interest Rate (EIR) offered by your bank.
- Review the monthly repayment, total interest, and total repayment amounts.
Key Rates Used
| Parameter | Typical Range |
|---|---|
| EIR (Competitive) | 3.5%–4.5% p.a. |
| EIR (Standard) | 4.5%–6.0% p.a. |
| Loan Tenure | 1–7 years |
| Max Borrowing Limit | Up to 10× monthly income |
Last updated: March 2026 · Rates are indicative and vary by bank.