When it comes to securing quick funds in Singapore, CIMB Personal Loan stands out as a top choice for borrowers looking for low interest rates, fast approval, and flexible repayment options. Whether you're facing unexpected expenses, planning a major purchase, or consolidating debts, CIMB offers one of the most competitive personal loans in Singapore. With interest rates starting from as low as 2.80% p.a. (EIR 5.28% p.a.) and instant cash disbursement upon approval, this loan product provides a convenient and affordable financing solution for Singapore residents.
How Does CIMB Personal Loan Work?
The CIMB Personal Loan in Singapore is an unsecured loan, meaning no collateral is required. It provides borrowers with a lump sum that can be repaid in fixed monthly installments over a chosen loan tenure.
With fast approval and instant cash disbursement, it offers a quick and easy financial solution for those in need of immediate funds. Apply through Lendela for a fuss-free, quick approval and receive your money in as little as an hour.
Borrowers can enjoy loan tenures of up to five years, allowing flexible repayment terms that fit their financial situation with their zero early repayment fee feature. Get your most accurate CIMB Personal Loan offer on Lendela, and speed up approvals to get your cash in as little as one hour.
Who is Eligible for a CIMB Personal Loan in Singapore?
To qualify for a CIMB Personal Loan, applicants must meet these criteria:
Singapore Citizens and Permanent Residents: Minimum annual income of S$20,000.
Malaysians working in Singapore: Minimum annual income of S$30,000 with a valid work pass.
Age requirement: 21 to 65 years old.
Good credit history recommended.
Find out if you are eligible for a CIMB Loan with one application through Lendela. Unlock all your available loan options
Key Features of CIMB Personal Loan
Low Interest Rates: Interest rates start from 2.80% p.a. (Effective Interest Rate 5.28% p.a.), making it one of the most competitive personal loans in Singapore.
High Loan Amount: Borrow up to 8x your monthly income, subject to CIMB’s assessment.
Flexible Loan Tenures: Choose repayment terms between 1 to 5 years, allowing borrowers to manage their repayment schedules efficiently.
Fast Loan Approval & Instant Cash: Receive funds immediately upon approval, ensuring you get access to cash when you need it most.
No Early Repayment Penalty: Borrowers can repay early without penalties (requires one-month notice), offering greater financial flexibility.
Personal Loan for Malaysians in Singapore: CIMB offers one of the most accessible loan options for Malaysians working in Singapore, with a competitive income requirement of just S$30,000 per year.
Express approval on Lendela - Get money in your bank account in as little as under an hour from the time you apply.
Common Uses of CIMB Personal Loan
Emergency expenses – Cover urgent financial needs such as medical bills, car repairs, or unexpected household expenses.
Medical bills – Pay for medical treatments, surgeries, or hospital bills without delay.
Debt consolidation loans – Combine multiple debts into one loan with a lower interest rate to simplify repayments.
Home renovation loans – Fund home improvements, repairs, or interior upgrades.
Education expenses – Finance tuition fees, professional courses, or skill development programs.
Wedding and travel loans – Manage wedding expenses or finance your dream vacation without financial strain.
Important Note:
As an MAS-licensed bank, CIMB has full discretion in approving loan applications. Approval depends on factors like credit score, income stability, and debt-to-income ratio. If you are unsure about your eligibility, using a loan matching platform like Lendela can help you assess different options and increase your chances of securing the most suitable personal loan. Lendela has the biggest loan panel in Singapore, giving you access to loan offers from over 50 legitimate loan providers in Singapore. View all the latest bank rates here on Lendela.
Considerations for CIMB Personal Loan:
While the CIMB Personal Loan offers competitive terms, consider these factors:
Effective Interest Rate (EIR) vs. Flat Interest Rate: The stated 2.80% p.a. is a flat rate, whereas the EIR is 5.28% p.a., reflecting the true cost of borrowing after including fees and other costs.
Loan Approval is Not Guaranteed: Meeting eligibility criteria does not guarantee approval. Factors like credit score, existing debts, and financial stability play a role in the approval process. Use Lendela, a loan matching platform to get your most accurate loan rates and avoid disappointment.
Promotional Terms Apply: Cashback offers may have conditions related to repayment and loan tenure. Read the fine print to fully understand the requirements.
Impact on Credit Score: Missing payments negatively affects your credit rating, which may limit future borrowing opportunities. Ensure you have a repayment plan before taking a loan.
Alternative Loan Options: While CIMB offers attractive terms, compare it with other banks and lenders to find the best personal loan in Singapore that suits your needs.
The CIMB Personal Loan in Singapore is an excellent choice for those looking for low-interest personal loans with instant cash disbursement. Its flexible repayment options, zero early repayment fees, and cashback promotion make it an attractive loan option for both Singaporeans and Malaysians working in Singapore.
Disclaimer: Lendela remains committed to neutrality and transparency in our reviews and loan products to aid in your decision-making process. This review is solely based on our research and evaluation. For more detailed inquiries or specific questions about CIMB Personal Loan, we encourage you to contact the credit provider directly.
Compare Loan Options and Find Your Loan Match on Lendela
However, borrowers should compare personal loan options carefully, considering the effective interest rate and repayment obligations. Using a loan aggregator tool can help find the best personal loan rates in Singapore, ensuring you secure the most favorable deal.
Before applying, evaluate your repayment capacity and use a loan calculator to estimate your monthly repayments. This will help you make an informed decision and prevent financial strain in the long run.