Compare personal loans with fast approval

Why wait? Find out where and how you can get a fast personal loan.


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If you’re in need of a personal loan, whether it’s to finance a large purchase, take a holiday or deal with some unexpected expenses, it’s likely you don’t want to wait weeks for the loan to get funded. An increasing amount of lenders are offering personal loans with fast approval and quick funding. Some lenders can approve and fund loans on the same day you apply.

This guide will take you through which lenders offer these loans and what you need to know before you apply.

DBS Personal Loan

DBS Personal Loan


3.88 % p.a.


  • Borrow from S$500
  • Repayment flexibility, subject to lending criteria
  • Instant approval

DBS Personal Loan

Apply today to get approved for up to 10X your monthly salary over 5 years.

  • Max. loan amount: Up to 10x fixed monthly income
  • Loan tenure: 1 - 5 years
  • Approval duration: Instant approval
  • Effective Interest Rate: 7.56% - Apply today and you could get an interest rate as low as 3.88% p.a.
  • Fees: 1% processing fee
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Compare personal loans

Name Product Interest Rate From Minimum Loan Amount Maximum Loan Amount Processing Fee
DBS Personal Loan

EIR: 7.56%

Up to 10x your monthly salary
1% processing fee
Apply today and you could get an interest rate as low as 3.88% p.a. (EIR 7.56% p.a), plus a 1% processing fee. Loans of up to 10x your salary may be available.
Standard Chartered CashOne Personal Loan

EIR: 6.95%

Up to 4x your monthly salary, subject to a cap of S$250,000
Apply by 20 July 2020 to receive Cashback equivalent to 50% of your first month's instalment loan amount. T&Cs apply.
POSB Personal Loan

EIR: 7.56%

Up to 10x your monthly salary
Based on your personal credit and income profile
Enjoy a fast approvals service and an interest rate starting at 3.88% p.a. (EIR 7.56% p.a), plus a 1% processing fee.
HSBC Personal Instalment Loan

EIR: 7%

Get an S$88 processing fee waiver if you apply by 31 October 2020. T&Cs apply.
Citi Quick Cash Loan

EIR: 8.5%

Get cash starting at 4.55% p.a. (EIR 8.5% p.a.) on a 36-month loan tenure. The interest you pay will vary depending on factors such as your credit score.

Compare up to 4 providers

How do fast personal loans work?

A number of providers across Singapore offer fast personal loans but there are a few different types on offer. If you’re only looking to borrow a small amount (less than S$5,000) and want to repay it quickly, you can consider a short-term loan. Depending on the lender, you may be able to borrow between two and six times of your monthly salary with a short-term loan and repay it in terms ranging from 30 days to one year.

What types of personal loans can be funded quickly?

Given that there are different types of personal loans from which to choose, knowing your options ahead of time provides you with a head start. Your basic options comprise of the following:

  • Unsecured and secured personal loans. Secured personal loans can be used to finance the purchase of your security, or to finance a different purchase while an asset you own is used as security. Unsecured personal loans require no guarantees but come with higher rates.
  • Cash advances. Credit cards give cardholders the option to withdraw cash from ATMs; when you use your credit card for withdrawing cash, you’re getting a cash advance. This cash you borrow attracts interest that is typically higher than what purchases on your card attract. You might also have to pay an additional cash advance fee.
  • Short term loans. These loans usually give you access to an amount between S$100 and S$5,000 that is designed to be repaid in the short term. Rates and fees for short term loans are considerably higher than standard personal loans.
  • Line of credit. This type of credit gives you access to money as and when you need. You only pay interest on the money you use and not the entire amount.
  • Overdraft. An overdraft is attached to your existing bank account and allows you to draw over and above your limit. These can be set up very quickly through your bank, giving you access to emergency funds when you need them.

How to compare fast personal loans

If you’re in the market for a fast personal loan there are some things you should keep in mind when comparing your options:

  • How much can you borrow? MAS imposed regulations for the maximum credit limit according to your monthly income. If you earn more than S$20,000 but less than S$30,000, you can borrow up to 2 times your monthly salary. For monthly income that is more than S$30,000 but less than S$120,000, you can borrow up to 4 times your monthly income. However, short term loans are usually only available for lower loan amounts. Make sure the loan gives you the amount of money you need.
  • How long do you have to repay? You’ll have between one and seven years to repay a secured or unsecured personal loan but generally less than a year for short-term loans.
  • How quickly will the loan be funded? Since you’re looking for a fast loan, this is an important aspect to compare. While some lenders give you access to funds within an hour, some others take two and more can take 24 or 48 hours.
  • What does it cost to borrow? The cost of borrowing includes the interest as well as any costs and fees linked to the loan. These vary from lender to lender, so an easy way to compare this is to find out how much you have to repay in total when you borrow the same amount from different lenders.

What to avoid

  • Taking on too much debt. Only apply for how much you need to avoid repayments that extend your budget.
  • Excessive fees and charges. Make sure you’re aware of the interest and fees you’ll be charged before you apply.

How to apply

Lenders who offer personal loans require that you meet certain eligibility criteria before you can apply, including the following:

  • Be a Singapore citizen or a permanent resident
  • Be over 21 years of age.
  • Earn a regular source of income.
  • Provide information like your name, phone number and email address, as well as copies of bank statements or payslips for your online personal loan application.

Comparing loans offered by different lenders is the first step, so make sure you shop around for the best deal before applying. Once you narrow down a suitable loan, click on “Go to site” in our comparison table above and start the application process directly on the lender’s website.

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