19 March 2024

Written by Alwin Goh

Whether it’s buying that dream HDB flat, sending your kid to a good school, or starting your own business, sometimes personal loans are the way to go. But remember, loans aren’t free money, got interest to pay one!

Which is why this article on how to calculate interest rates for loans is useful for anyone in Singapore who wants to borrow money wisely.

Interest is basically the extra cost you pay for borrowing money. Sounds simple, but the calculations can get a bit tricky with things like your loan amount, interest rates, and how long your loan is for. If you don’t know what you’re doing, you might end up paying way more than you realised. That’s why in a high-cost city like Singapore, being financially savvy is crucial.

For example, a loan with a low advertised rate might sound good, but when you add on all the other fees and charges, ouch! Or you take a longer loan, thinking the payments will be smaller,

Understanding Interest Rates on Loans

When you borrow money, be it for a new car, a house, or any personal reason, you’re not just paying back the principal amount. There’s an extra charge on top, known as interest.

This is essentially the cost of borrowing money, a percentage charged by banks, financial institutions, or licensed money lender in Singapore.

The interest rate you end up paying is influenced by several factors, including your credit score, your income, the amount you’re borrowing, and the terms of the loan.

Breaking Down Interest Rates

Interest rates on loans come in two main types, and understanding how they work is crucial for making smart financial decisions. These rates directly affect your monthly payments and the total amount you’ll repay over the loan’s lifetime. Let’s break down the two primary types:

Advertised Rate

This often referred to as the nominal rate, this is the basic interest rate your loan starts with, not accounting for inflation. Within this category, you might encounter:

  • Flat Rate: The interest stays the same throughout your loan period, commonly seen in car loans and personal loans.
  • Monthly Rest Rate: This is calculated on the remaining balance of your loan, meaning as you pay off the loan, the interest decreases. It’s a common approach for home loans.

Effective Interest Rate (EIR)

The Effective Interest Rate or EIR is a bit more comprehensive. It includes additional fees like processing charges and considers the loan duration and repayment frequency, reflecting the compound interest effect. Essentially, the EIR gives you the real cost of your loan in Singapore, helping you to compare different loan options accurately.

  • Floating Rate: Linked to a benchmark rate (e.g., SIBOR or SOR), floating rates change daily. They’re suitable if you expect rates to drop and are comfortable monitoring market trends. Some floating rate loans may have a lock-in period.
  • Fixed Rate: As the name suggests, fixed rates don’t change during the lock-in period, which can last from one to five years. After this period, the rate might switch to a floating rate based on a benchmark. Fixed rates are ideal if you prefer stable monthly payments or expect interest rates to rise.

Understanding these terms and how interest rates work can demystify the borrowing process, making it easier to manage your finances and choose the loan that fits your needs best.

Whether you’re drawn to the predictability of fixed rates or the potential savings of a floating rate, being informed will help you navigate the loan landscape with confidence.

How Interest Rates From Banks Are Calculated

Having a firm understanding of how to calculate the interest on loans from banks is vital when it comes to managing your monthly spending. This is because the interest on loans from banks can be rather high.

This helps you determine whether or not the loan is within your financial means. Moreover, it gives you a clear image of what you are committed to doing on a monthly basis.

In Singapore, both car and personal loans typically use a flat interest rate, meaning the rate doesn’t change over the life of the loan.

To calculate your monthly interest payment, you can use the formula:

Monthly Interest Amount = (Interest Rate/Number of Payments) × Principal

For example, consider you take out a car loan of S$80,000 for 5 years at an annual interest rate of 2.5%, with payments due monthly.

(0.025/12)× 80,000 = S$166.57

This means you would pay S$166.57 in interest each month. By knowing how to calculate this, you can better plan your finances and ensure that the loan you’re considering is affordable for you.

Payments 5-year loan
Monthly payments S$1,499.90
Total amount paid S$9,994
Interest paid S$9,994


You may use a loan calculator to solve this.

On the other hand, the loan may be computed in a different manner by the bank or the lender. In order to obtain a more precise figure, you should check with them.

Understanding The Calculation Of Interest Rates By Licensed Moneylenders

Opting for a loan from a licensed moneylender in Singapore means you’re subject to an interest rate that can go up to 4%, a cap set regardless of your income or whether the loan is secured or unsecured.

For instance, consider taking a personal loan of S$2,000 with a one-month tenure at an interest rate of 3.92%. The interest you’d owe is S$78.40.

However, licensed moneylenders might use various formulas to calculate interest, so it’s advisable to consult directly with the loan officer for precise figures.

Influencing Factors on Interest Payments

Ever compared loans and thought, ‘Why does this one cost so much more?’ It all comes down to the factors that affect your interest payments.

Loan Amount

The principle here is simple – the larger the loan, the more interest you’ll end up paying. This is because larger loans represent greater risk to lenders, who in turn seek higher returns. It is wise to borrow only what you need.

For instance, borrowing S$8,000 over five years at a 2.5% interest rate results in S$1,000 in total interest. Doubling the loan amount to S$16,000, with all other factors constant, would double your total interest to S$2,000.

Interest Rate

The interest rate significantly affects the overall cost of your loan, with various factors influencing rates. A lower credit score, for instance, might result in a higher interest rate. Using the same example as above, an S$8,000 loan over five years, but with a focus on how the rate itself impacts total interest, highlights the importance of understanding and negotiating the best possible rate for your financial situation.

Payments 2.5% p.a. 4% p.a.
Interest paid S$1,000 S$1,600


Additionally, it is crucial to understand the type of interest rate applied to your loan.

For example, with a floating interest rate, your interest expenses could fluctuate throughout the duration of your loan, potentially increasing or decreasing based on market conditions.

Loan Duration Considerations

The length of time you’ll be repaying the loan is another important factor. Opting for a shorter loan term usually means you’ll face higher monthly payments, but you’ll also pay less interest overall, offering savings in the long run.

Conversely, a longer loan term spreads out your payments, making them more manageable month to month. However, this approach also means you’ll accrue more interest over the life of the loan, affecting the total cost.

Let’s put this into perspective with an example comparing two scenarios: a 5-year vs. a 7-year loan term, assuming you’ve borrowed S$8,000 at an annual interest rate of 2.5%.

This comparison will help illustrate how the term length directly influences both your monthly payments and the total interest paid.

Payments 5 years 7 years
Interest paid S$1,000 S$1,400

Understanding Your Repayment Plan

How To Calculate Interest On A Loan - Repayment Plan

When it comes to the total amount of interest that you wind up paying, the frequency of your loan repayments might be a significant factor. Because you are able to make payments on a more regular basis, you will be able to reduce the amount of the loan’s outstanding balance on a more frequent basis.

By increasing the frequency of your payments, you may be able to save a large amount of money on interest over the course of the loan’s lifetime, particularly if your lender processes interest calculations using a compounding method.

Choosing Your Repayment Amount

How much you choose to repay each month is equally crucial. Just like making payments more frequently, opting to pay a bit more each month can reduce the overall interest you’ll pay.

This is because you’re directly reducing the loan’s outstanding balance quicker.

In the event that you are considering increasing the amount of your monthly repayment, it is essential to be certain that these additional payments are being allocated to the reduction of your main balance.

When your extra payments are reducing the principal, you’re not just getting closer to being debt-free; you’re also reducing the total interest cost.

Navigating your repayment schedule and amount wisely can make a tangible difference in managing your loan efficiently and economically.

Figuring Out Your Total Repayment Sum

Now that you’ve got a handle on calculating total interest, it’s equally important to know how to work out your total repayment amount for a loan.

The formula is straightforward:

Total Repayment Amount = Principal Amount + Total Interest Amount + Any Additional Loan Fees

Remember, banks and lenders may tack on various fees and charges, which will increase the overall cost of your loan.

If you’re finding these calculations a bit daunting, don’t worry. You can make use of online personal loan calculators.

Most major banks offer these tools on their websites, allowing you to easily estimate your total repayments right from the comfort of your home.

How To Secure Favourable Loan Interest Rates

Imagine saving a ton of money just by getting a good interest rate on your loan. That is totally possible. But how do you actually make it happen? Check out this quick guide to getting the best deal possible.

Boost Your Creditworthiness

In Singapore, your credit score is a key indicator of your financial health, derived from your past credit activities. You can get a detailed credit report from the Credit Bureau of Singapore (CBS) for a nominal fee of S$8.

A good credit score not only shows you’re a reliable borrower but can also unlock benefits like lower interest rates, more substantial loan amounts, or more extended repayment periods.

To improve your credit score, consider these practical steps:

  • Always pay your debts on time.
  • Avoid loan defaults at all costs.
  • Keep your number of credit facilities reasonable.
  • Limit your loan applications within a short timeframe.
  • For those with a less-than-ideal credit history, consolidating your debts and maintaining consistent repayments can help repair your score.

Learn about other ways to boost your credit score.

Opt for a Shorter Loan Duration

Short-term loans may have higher monthly payments, but you’ll save money on interest overall. If you can afford it, a shorter loan term is a smart financial choice

Align with Total Debt Servicing Ratio (TDSR) Guidelines

​In Singapore, Total Debt Servicing Ratio or TDSR ensures borrowers don’t take too much debt.

It limits how much you can borrow based on your income. Staying within this limit is smart financially and can even get you better loan terms.

Aim to keep your total monthly debt payments under 60% of your income.

Struggling to meet TDSR criteria? Here are some alternatives:

  • Increase your down payment.
  • Consider a longer loan term or a more budget-friendly option.
  • Disclose any additional income sources, like bonuses or rental earnings, to your bank.
  • If co-borrowing, reevaluate if your partner’s debt levels are adversely affecting your loan conditions.

Navigating these steps can significantly enhance your chances of securing a loan with favourable interest rates, setting you on a path to financial success.

Other Costs To Consider

Embarking on a loan journey involves more than just managing interest payments. You may be subject to a number of additional fees and charges, all of which have the potential to impact the total cost of your loan.

Here’s a rundown of potential extra costs to keep in mind:

Processing Fee

Often charged right after your loan gets approved, this administrative fee covers the cost of processing your loan application.

Amendment Fee

If there’s a need to tweak your original loan application, an amendment fee may apply.

Cancellation Fee

Deciding against the loan after agreeing to the terms? Watch out for cancellation fees.

Excess Charges

Borrowing beyond your approved overdraft limit incurs excess charges.

Late Payment Charges

Missing the payment deadline? Late fees will be added to your bill.

Default Charges

These are levied if you fail to make payments as per your loan agreement.

Early Repayment Charges

Opting to settle the remaining loan balance before the end of your loan term can lead to early repayment fees.

In order to have a complete understanding of the total cost of the loan, it is essential that you incorporate these additional fees into your financial planning.

Having everything in place guarantees that you are completely ready for the financial commitment that you are about to make.

Smart Tips for Comparing Loan Offers

Understanding the ins and outs of loan interest can significantly influence your financial decisions.
However, when it’s time to sift through various loan offers, remember that patience and attention to detail are your best allies.

Each loan comes with its own set of terms and monthly payments, so finding the one that best suits your needs is key. Beyond just the interest rates, here are some other crucial elements to weigh:

Flexible Loan Duration

The length of your loan can greatly affect both your monthly payments and the total interest you’ll end up paying.

While a longer loan period might offer the appeal of smaller monthly outlays, it also means shelling out more in interest over time.

If your budget allows, opting for a shorter loan duration can save you money in the long run by reducing the total interest paid. Yet, if a shorter loan term comes with a steeper interest rate, consider a longer-term loan but try to make larger repayments when possible.

Total Loan Cost

Look beyond the monthly payments and calculate the total cost of the loan, which includes the principal, interest, and any additional fees. This total figure is what you’ll ultimately pay back to the lender, assuming you avoid any late or early repayment penalties.

Monthly Repayment Amounts

The monthly payment is a critical figure; it’s essential to ensure it’s something you can comfortably manage without overextending your finances.

Avoid situations where your payments are going solely towards interest, leaving the principal amount untouched.

How to calculate your monthly loan payment:

  1. Find the total interest: Multiply the loan amount by the annual flat interest rate, then multiply that number by the loan length in years.Example: Loan of S$8,000 at 2.5% interest for 2 years = S$8,000 x 0.025 x 2 years = S$400 total interest
  2. Add the interest to the loan amount: Take the original loan amount and add the total interest you just calculated.Example: S$8,000 + S$400 = S$8,400
  3. Divide by the loan length in months: Take the total from step 2 and divide it by the number of months in your loan term.Example: $8,400 / 24 months = $350 monthly payment

The Bottom Line

Before you sign a loan agreement, be sure you fully understand the terms, including the interest rate. Several things affect how much interest you pay on a loan, including your income, loan amount, repayment length, and credit score. While shorter loans often have higher monthly payments, you’ll usually pay less interest overall.

Never forget that interest calculations could vary throughout financial institutions. A loan calculator can simplify these calculations for you, making them easy and accurate.

Always check the whole cost of a loan, including interest, processing fees, and any other associated expenses, before signing any paperwork. Knowing all of the financial details of the loan you’re thinking about is the first step in making a smart decision.

So, are you ready to take out a personal loan? Let Crawfort help you with your loan needs. It only takes 8 minutes to approve your loan application. Apply for a loan now!

A Personal Loan In 8 Minutes.
That’s how fast it takes.

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When it comes to home renovations, choosing your contractor can make or break the entire project. Contractors manage projects, coordinate with skilled workers, and monitor that the renovation work is completed on time and within your budget. Considering its importance, picking out the affordable and reliable contractor is something you shouldn’t take lightly especially because […]

Personal Loan
Licensed Moneylender In Jurong East: Go-To Guide Borrowing A Personal Loan

Jurong East is a small yet vibrant neighbourhood in Singapore. This is among the places in Singapore that boast attractions like the renowned Jurong Bird Park, home to over 3500 birds, and the Singapore Discovery Centre. Delight in family-centric amenities, such as KidSTOP at the Science Centre, a dedicated play zone offering various activities and […]

Blogs and Opinions
Licensed Vs Unlicensed Money Lender In Singapore: What’s The Difference?

Life can get pretty unpredictable. Sometimes, you might find yourself in need of quick cash, but your savings is not enough. You may have thought about taking up a loan from the bank, but what if you can’t get across the red tape? The paperwork, the waiting period, and the anxiety of not knowing whether […]

Personal Loan
How To Get A Motorcycle Loan In Singapore?

For many Singaporeans, motorcycles are the most convenient mode of transportation. Not only is it significantly more affordable compared to cars, but it’s also more convenient to maintain. That said, not everyone can pay for a motorcycle upfront – either you still haven’t saved up enough money or just don’t want to touch your savings. […]

Personal Loan
What Are Monthly Instalment Loans In Singapore?

Ever heard the term “instalment loan” thrown around but wondered what it means? Don’t worry, you are not alone. Borrowing can definitely be overwhelming at times, especially when you encounter unfamiliar terms and concepts. However, understanding the ins and outs of instalment loans is essential for anyone seeking financial assistance in Singapore. To better understand […]

Personal Loan
What Are The Interest Rates and Fees A Private Moneylender Can Legally Charge?

Sometimes, we may face financial emergencies or require quick cash for unexpected expenses. In these challenging times, borrowing from a moneylender can be an ideal way to get the needed funds. However, before taking out a loan, it is vital to understand the interest rates and fees that private moneylenders can charge in Singapore. In […]

Personal Loan
CPF Personal Loan: What Is It? Eligibility and Requirements

Singapore is the most expensive city in the world to live in. This is extremely daunting for the average person who is struggling to make ends meet. With the rising cost of living, unexpected expenses can easily throw off anyone’s budget. When emergencies pop up, needing cash right away can feel super stressful. This is […]

Blogs and Opinions
How to Deal With Loan Shark Harassment In Singapore: 5 Ways To Deal With It

With the reputation that loan sharks in Singapore have, most of us wouldn’t want to deal with them in the first place.   But perhaps desperate times have called for desperate measures. You needed money during a time when no bank or financial institution was willing to offer you a personal loan. With limited options to […]

Personal Loan
How To Check Credit Score In Singapore?

When it comes to loan applications, your credit score or credit rating significantly influences the likelihood of approval. Major loan providers such as banks consider it a primary factor in assessing your eligibility for a loan.  A favourable credit score suggests a high likelihood of loan approval, whereas a low credit score makes it challenging […]

Personal Loan
Complete Guide To Short-Term Loans In Singapore

There could be a situation where you urgently need cash to tide over an unforeseen situation. One solution to consider is applying for a short-term loan in Singapore. In this article, we’re going to share with you all you need to know about short-term loans in Singapore. What’s A Short-Term Loan? A short-term loan usually […]

Personal Loan
How Personal Loans In Singapore Can Be Useful For Grab And Taxi Drivers

The past few months have been difficult for many people in various industries. Most businesses, especially in the service industry, have been badly affected by the COVID-19 social distancing measures. Taking a personal loan in Singapore is one option to get through this tough time.  Ever since the outbreak began, less people have been going […]

Personal Loan
Renovation Loan Vs Personal Loan In Singapore For Home Renovation: What’s The Difference?

The priciest thing you can buy in Singapore is probably your home. Even if you don’t mind a rugged aesthetic, minimalistic, or industrial look, basic renovation is still necessary for installation of electrical endpoints, tilework, paintwork, and so on.  If you’ve done the maths, you’ll realise that renovations can cost an arm and leg. However, […]

Blogs and Opinions
How To Get An Instant Cash Loan In Singapore

Are you going through an emergency that requires quick cash? Then you might want to consider getting an instant cash loan in Singapore. Getting an instant loan can help to solve your urgent financial needs. Since you can get them fast, you’ll be able to solve your issues as quickly as possible.  How do you […]

Personal Loan
An Essential Guide To Personal Loan In Singapore: What It Is And How To Apply

Whether you need a helping hand to achieve a resolution you’ve set for the year, or you’re in urgent need of money, getting a personal loan in Singapore from a licensed moneylender may come in handy.  But before you apply for a personal loan in Singapore, here are some important things that you need to […]

Blogs and Opinions
5 Ways To Improve Your Credit Score At The Credit Bureau Singapore

Ever wondered what affects your loan applications? Or why some of your credit card applications were rejected?  It’s likely because of your credit score. A bad credit score can affect your applications for personal loans and credit cards. But what’s a credit score? How do you check it, and how can you improve your credit […]

Personal Loan
4 Types Of Personal Loan In Singapore You Should Know

It is tough sometimes when we land ourselves in unexpected situations that require immediate financial assistance, such as medical emergencies or investment opportunities. At times like this, taking out a personal loan in Singapore could be a viable option to ease your financial burden.  A personal loan is a type of unsecured loan that does […]

Personal Loan
What To Do If I’m Unable To Pay My Credit Card Bill?

Encountering financial difficulties, whether due to unexpected expenses or a job loss, can lead to challenges in paying off credit card bills. This might prompt the question: “What can I do if I’m unable to pay my credit card bill?” Failure to clear credit card bills can result in escalating debt. It’s crucial to understand […]

Personal Loan
Tuition Fee Loan In Singapore: What Is It And How Does It Work?

Despite the government’s provision of a tuition fee grant, the cost of tuition continues to rise annually. In fact the average annual education inflation rate in Singapore was about 2.86% for a 20-year period (2002-2022). Moreover, it was reported that the school fees will increase from 2024 to 2026 for PR and international students. So, […]

Personal Loan
What It Means To Be A Loan Guarantor in Singapore?

Certain types of loans in Singapore need guarantors since they carry higher risk of default for lenders. For instance, car loans, education loans and business loans, in place of collateral. It can be a requirement when applying for a loan in Singapore. Therefore, before you sign-up to be a guarantor of your friend or your […]

Blogs and Opinions
What Happens When You File For Bankruptcy In Singapore?

From January 2020 to May 2020, there have been 1,481 applications for bankruptcy in Singapore and 404 orders made — a significant number considering the short 5 months span.  Bankruptcy, in short, is when you owe more than you can afford to pay. There are also a number of technicalities involved. Filing for bankruptcy in […]

Blogs and Opinions
10 Easiest Ways To Get A Credit Card Approved in Singapore

Owning a credit card in Singapore has a lot of perks. It offers a convenient way to purchase online or in person. Even if you’re short on cash for the month, you can still purchase big-ticket items or gadgets that you want since it allows you to buy now and pay later. Moreover, some of […]

Blogs and Opinions
Saving Money In Singapore: Easy Ways To Grow Your Savings

If you often find yourself living paycheck to paycheck despite your best budgeting efforts, you’re not alone in this situation. Overspending is a common challenge that many individuals face. No matter how meticulously you track your expenses, the temptation of impulse buying might occasionally mislead us. The fact is that since we are all imperfect, we […]

Personal Loan
5 Reasons Why Your Personal Loan Application In Singapore Was Rejected

Perhaps it’s a time right now when you require extra financial support for your needs—for an emergency, for a dream vacation for you and your partner, or even for a plan to move forward and venture out of your comfort zone. However good your reasons may be, you may have faced problems having your personal […]

Personal Loan
Guide to Peer to Peer (P2P) Lending in Singapore

Peer-to-peer lending or P2P lending is a part of financial innovation that originated in the UK in 2005. It has become an investment and lending platform that has reached major financial markets worldwide, and Singapore is no stranger to P2P lending. It has adopted this FinTech tool for borrowing and lending money. In this guide, […]

Personal Loan
How Do Home Renovation Loans Work In Singapore?

Considering a home renovation project this year, but falling short on your savings? You might consider getting a home renovation loan. Without sacrificing your objectives, this type of loan is designed to assist you in funding your home improvements. But, how do home renovation loans in Singapore work, and what should you take into account? […]

Personal Loan
Can You Get A Personal Loan Without Income Proof In Singapore?

If you’re in a financial jam, you want to get a personal loan as quickly as possible. But what if you don’t have income proof? In this article, we share with you some useful tips on how you can get a personal loan in Singapore without standard income proof like payslips.  But before we dive […]

Personal Loan
Are You Eligible For A Personal Loan In Singapore?

When we’re short on cash, most of us will consider borrowing from friends and family members. However, if you don’t want to trouble them, how about taking a personal loan instead? A personal loan is a lump sum of money borrowed from a bank or licensed money lender. You’ll need to pay it back over […]

Blogs and Opinions
When Should You Consider Taking A Personal Loan Over A Renovation Loan In Singapore?

Now that you’ve collected the keys to your new home and browsed countless web pages for decor inspiration, it’s time for the next step. Imagine, after a long day at work, going back to a home that’s furnished and personalised just the way you like it. Isn’t that exciting? That is until you realise the […]

Personal Loan
Personal Loan Broker In Singapore: What You Need To Know

While many people still go directly to their local bank to seek financial assistance, many people have turned to personal loan brokers for a more customised and efficient approach to borrowing money. This proves that personal loans have gone beyond the confines of traditional banks. In this article, we will discuss personal loan brokers in […]

Personal Loan
Emergency Payday Loans from Direct Lenders: A Comprehensive Guide

Life is full of challenges and unfortunately facing sudden financial trouble is part of it. You may be facing a sudden medical emergency, car repair or the need to replace a broken appliance which may require quick cash to cover these emergencies. In these unexpected events having an emergency payday loan from a direct lender […]

Personal Loan
What Happens if You Don’t Repay Your Personal Loan in Singapore?

If you’re using a personal loan in Singapore for a big ticket expense, home renovation or to fund some emergencies, it’s probably because your savings is not enough to cover it. And while repaying the loan is usually the last thing on your mind when you take out the loan in the first place, missing […]

Personal Loan
Should You Take A Personal Loan In Singapore For Home Renovation?

Whether you want to increase your property value or simply enhance the aesthetics of your house, you need a home renovation. However, loan renovations can be costly and you may not be able to do up your dream house should you lack funds. Now, the good news is that you have alternative options to help […]

Personal Loan
How To Pay Off Multiple Payday Loans

When your bills and emergency expenses pile up, it can be hard to resist the temptation of payday loans. Although these loans can be a helpful remedy for tough times, they also have the potential to trap you in overwhelming debt. Thankfully, there are tons of ways to help you get back on track financially. […]

Personal Loan
How To Clear Credit Card Debt With A Personal Loan In Singapore

Credit cards have a lot of benefits. Not only do they boost your spending power, but they’re also very convenient since you don’t need to keep drawing and carrying cash. However, for the convenience they offer, you run the risk of incurring high interest and accumulating debt quickly. What should you do when you find […]

Blogs and Opinions
How To Pay My Credit Card Bills (DBS, UOB, OCBC And Other Banks)?

Today, you can take advantage of various enticing credit card deals that offer benefits like bonus miles and up to 10% cashback. These deals can maximise your financial benefits and transform each transaction into a rewarding experience. Despite these benefits, you must pay your credit card account on time. Just like with other types of […]

Personal Loan
Personal Loan Calculator In Singapore: Why You Should Use One And The Benefits

Personal loans are an alternative for big-ticket purchases or immediate financial emergencies. But before taking up a loan, most of us would be curious as to how much everything would cost in total. One way to find out is to use a personal loan calculator in Singapore to work out the sum.  So, what are […]

Personal Loan
What Are The Alternatives To Personal Loans In Singapore For The Unemployed?

When we need cash, some of us consider taking personal loans to get through the tough period. Unfortunately, it can be difficult to get a personal loan in Singapore when you’re unemployed.  Don’t worry, though. There are alternatives to personal loans in Singapore that you can take up, even if you’re unemployed. This article is […]

Blogs and Opinions
How Does Credit Counselling And Debt Management Programme Work?

Have you ever found yourself struggling in debt, with no one to turn to, and all hope seems lost? In those situations, where can you get help? Well, there’s an answer for that: credit counselling. It’s alright if you don’t really know what it is. Not many Singaporeans are familiar with the concept of credit […]

Personal Loan
Total Debt Servicing Ratio (TDSR): What Is It and How It Affects Your Personal Loan Application?

One major factor that makes a huge difference in whether you get approved for a personal loan is your total debt servicing ratio. If you haven’t heard this concept before, it might seem complicated, but don’t let it scare you. To put it simply, your TDSR is just a way to figure out if you […]

Blogs and Opinions
Credit Card & Unsecured Loans Credit Limit In Singapore: All You Need To Know About Increasing It

Are you cash strapped and in need of extra credit for your big-ticket purchases? Are you considering increasing the credit limit on your credit card or unsecured loan but aren’t sure how to? In this article, we will share with you everything you need to know about increasing your credit card limit in Singapore. We […]

Blogs and Opinions
Licensed Money Lender Vs A Pawn Shop In Singapore: What’s The Difference?

Something sudden happens and you find yourself in urgent need of cash. You might be considering borrowing from the bank, but they might take a long time to approve your loan. So, you start looking for alternatives to get a fast loan in Singapore. When it comes to getting quick cash in Singapore, 2 options […]

Blogs and Opinions
How Much Can I Borrow From A Money Lender & What I Need To Note?

The cost of living is high in Singapore. There are times when we inevitably run into money problems and need cash to tide over difficult periods. For some, it could be money needed to last until their next payday, more money for their wedding, home renovation, or for a financial emergency. According to the Credit […]

Personal Loan
Loan Scams In Singapore: How to Protect Yourself from Personal Loan Scams

As of 14 October, the police warned the public about the return of loan scams involving fake emails from banks and government agencies in Singapore.  Between 1 September and 4 October 2021, there were 17 victims losing a total of over $130,000. While the Police have suggested ways to help combat scams, it is important […]

Personal Loan
Financing Your Home Renovation: Personal Loans In Singapore, Renovation Loans, And More

Just collected the keys to your new house? Buying a house is most likely the largest purchase in your life. After getting the keys, you’ll want to renovate it to turn it into your dream home. In this article, we look at renovation costs, what affects it, as well as financing options like a renovation […]

Blogs and Opinions
Effective Interest Rate: A Simple Guide (EIR) For Borrowers

Whether you’ve taken a personal loan before or not, interest rate is a term you’re sure to have heard of. But did you know there are usually 2 types of interest rates when you take out a loan? There’s the advertised rate, and the effective interest rate (EIR). So why are there 2 interest rates […]

Personal Loan
Multiple Personal Loans: Can You Take Two Personal Loans At The Same Time?

Even after taking a personal loan, unexpected financial events can force you to take another one, especially during this Covid-19 pandemic. And, you may be asking if it is possible to take two personal loans? A personal loan is an unsecured amount of money. It is referred to as unsecured because it does not require collateral. The […]

Blogs and Opinions
Credit Counselling In Singapore: All You Need To Know

Not many Singaporeans know about credit counselling. Mention “credit counselling” to people, and you’re more likely to be met with blank stares. Explain that it’s about discussing debt management with a financial counsellor, and they might reel away in shock. The topic on debts is often so private that most people shy away from the […]

Personal Loan
How To Get The Best Personal Loan In Singapore To Help Make Your Dream Vacation A Reality

Are you planning your next dream vacation as more countries now allow tourists for the first time in two years since the start of the COVID-19 pandemic? Did you then realise that you may need extra cash as your travel funds are insufficient? If so, you’ve come to the right place! Read on. You will learn […]

Personal Loan
6 Tips To Avoid Being Rejected For A Personal Loan Application In Singapore

It’s never a nice feeling being rejected for anything, especially when it comes to a personal loan application. If you’ve ever been in this position before, you will know how discouraging this can be. So, why are personal loan applications in Singapore rejected? And what can you do to avoid it happening to you? Keep […]

Singapore Fintech Startup Capital C Scores $54m in Fresh Funding

DealStreetAsia Capital C Corporation, a Singapore-based financial services provider, has announced raising S$74 million ($54 million) in a mix of pre-seed equity and debt funding rounds. The fundraising exercise was participated by Phillip Capital, Luminor Capital, Paradise Group, Citystate Group, family offices, and ultra-high-net-worth individuals, according to the announcement. With the fresh funding, the company, […]

Singapore’s Capital C Corporation Bags SGD74 Million in Funding

Finextra Capital C Corporation, a Singapore-based financial services provider, bags SGD$74 Million in their recent fundraising exercise with PhillipCapital, Luminor Capital, Paradise Group, Citystate Group, various family offices and Ultra-High-Networth-Individuals. The fresh injection of funds will serve to fuel their lending capabilities and expand their digital financial platform offerings to provide a seamless experience and […]

Personal Loan
When Can Personal Loans In Singapore Be A Better Option Than Credit Cards?

Personal loans and credit cards are two popular credit options in Singapore. For instance, if you are short of cash to pay your monthly bills, getting a personal loan in Singapore or paying through your credit card can be a viable option. Both provide easy access to money when in need but getting a personal loan can […]

Company News
Capital C Corporation in DocuSign Momentum 2022

Celebrates the achievements of 10 businessmen and women who prove to have what it takes to break boundaries and emerge as winners of Singapore’s Entrepreneur of the Year Awards (EYA).

Personal Loan
Should You Take Out A Personal Loan in Singapore For The Holidays?

Have you been thinking of taking a break for this coming holiday season? Are you also considering rewarding yourself or your family with a memorable holiday gift? As the country eases the travel restrictions especially to fully vaccinated Singaporean residents, traveling to your dream destinations is now possible. Regardless of the plans you have for […]

Personal Loan
How To Manage Your Personal Loan In Singapore More Effectively

Taking a personal loan in Singapore from licensed moneylenders can help you manage your unexpected expenses, such as medical bills. Moreover, it can help you in fulfilling your life goals. While it can make a huge difference in managing your financial situation when it matters most, it is not a permanent solution. Although you are free to use […]

Personal Loan
Why Taking A Personal Loan In Singapore Is The Best Option For Emergency Expenses?

In the time of a pandemic (like now), you need to be prepared for emergency expenses. However, if you are someone who does not have savings or is hesitant to borrow money from friends or family, then you could be in trouble when an emergency arises. But, don’t worry, getting a personal loan in Singapore to tide […]

Personal Loan
Top 6 Life Goals You Can Achieve With Singapore Personal Loan For 2022

Having sufficient money can help you achieve your New Year’s goals.  However, if you don’t have enough cash, taking a personal loan in Singapore is something worth considering. With a personal loan, you can get a relatively substantial sum of fast cash, and this is useful if you already have big goals and plans for New Year. […]

Personal Loan
Licensed Moneylenders Vs Banks: How Long Does It Take To Get A Personal Loan In Singapore?

If you are currently in need of quick cash for emergencies or holiday spending, you might consider taking a personal loan either from a licensed moneylender or bank. You might wonder how long it takes to get a personal loan from these credit facilities. How fast does it take to get your loan application approved with a licensed […]

Personal Loan
Is It A Good Idea To Take Out A Personal Loan In Singapore To Invest?

According to the latest Finder’s survey, nearly 1 in 3 (that’s 32% or 928,000 Singaporeans) have taken out a personal loan in the past 12 months. Some of the key reasons why people are taking out personal loans in Singapore include, covering daily expenses, helping out a friend or family, and financing a mortgage.  But […]

Company News
Crawfort Is Honoured To Be Awarded The Singapore Quality Class Certification

Crawfort is honoured to be awarded Singapore Quality Class certification. This certification, by Enterprise Singapore, recognises organisations that have attained robust business fundamentals and met standards for good business performance based on the internationally benchmarked Business Excellence Framework. This certification serves as a recognition of our commendable management capabilities and commitment towards continuous improvement and sustainable […]

Personal Loan
6 Must-Know Tips To Get The Best Personal Loan In Singapore

You might be looking for a personal loan to help you cover some financial needs. But with the overwhelming amount of loan products and choices out there, how do you find the best personal loan in Singapore?  Financial institutions in Singapore offer loan discounts and promotions periodically; it’s important that you learn how to compare […]

Blogs and Opinions
7 Things You Should Know About Loan Sharks In Singapore

Commonly known as “ah longs” in Singapore or unlicensed moneylenders, a loan shark is a person or entity that lends fast and easy money at sky-high interest rates. These interest rates are typically far above any established legal rates.  They are infamous for their harassment tactics and threats of violence as a means of forcing […]

Personal Loan
5 Tips On Taking A Personal Loan In Singapore When You’re Unemployed

Life is always unpredictable, and there may be times when you need to take up a loan to tide through unexpected financial difficulties. It could be medical emergencies, debts, bills to pay, or simply urgent cash needs. And if you’re unemployed, getting a personal loan in Singapore can be difficult. In Singapore, banks and financial […]

Personal Loan
Scam Alert: Fake Site!

RED ALERT: crawforts.com is a SCAM site posing as us. Apart from using a web URL that bears close resemblance to ours, this website also displayed our previous brand logo and company information that are stolen from us. Please be informed that this site has no relations to us and are likely to be operated […]

Blogs and Opinions
3 Reasons Why You Should Never Borrow From A Loan Shark In Singapore

If you’ve ever found yourself in a tight financial spot and have considered borrowing from a loan shark in Singapore, think twice. There are many risks involved when you borrow money from an unlicensed money lender like a loan shark. This includes high processing fees and interest rates, and continuous harassment to you and your […]

Personal Loan
5 Tips For Short-Term Course Remote Learning And How A Personal Loan In Singapore Can Help

Maybe you’ve already been sitting on the idea of taking the plunge into the world of short-term courses. Whether it’s learning a new design software or discovering a different industry, short-term courses are all the rage for both working professionals and students alike to upgrade their skills. But maybe you’re hesitant because of many factors, […]

Personal Loan
Loan Scams – Do Not Be A Victim

Loan scams are on the rise now. Please stay vigilant and beware of scammers who may approach you with attractive loan offers through calls, SMSes or any other media forms. Don’t be impulsive and fall into their traps. Learn to differentiate between a licensed and unlicensed money lender in Singapore. Crawfort Finance will only advertise […]

Blogs and Opinions
3 Alternatives To Filing For Bankruptcy In Singapore

Filing for bankruptcy in Singapore can stir up feelings of stress, anxiety, depression, and failure. Let’s face it, the process of filing for bankruptcy is also a tedious affair combined with the social stigma that comes with it. So before you decide to file for bankruptcy, why not consider other alternatives that are more desirable […]

Personal Loan
The 2 Types Of Personal Loans In Singapore To Consolidate Your Debt 

Besides being symbolic of financial independence and adulting, owning a credit card is a great way to earn rewards and cashback on your spending as long as you pay your bills dutifully every month. But what if you’re unable to pay your bills on time? With sky-high interest rates and a few late payment fees, […]

Blogs and Opinions
10 Travelling Tips For Your Next Trip And How A Personal Loan In Singapore Can Help

In a world where everything has its price, your dream of travelling the world can seem far and out of reach. Especially when you have daily expenses to account for and pressing bills to pay. Travelling can be expensive. However, the experiences you gain and memories forged from travelling is oftentimes invaluable. Though travelling can […]

Personal Loan
Should You Take A Personal Loan In Singapore For Your Vacation?

Have you been toying with the idea of taking a good break for a while? And when we mean a break, we mean a good, quality break that’s going to give you a good reset. Maybe it’s been something on your mind for a while now but you haven’t gotten around to it because it’s […]

Personal Loan
Why You Should Upgrade Your Skills And How A Personal Loan In Singapore Can Help

According to Robert Kiyosaki, a successful businessman and author of Rich Dad Poor Dad, continuous learning is the key to getting rich. If you want to be successful in life, you need to have the right attitude, the right mentality, and seek continuous learning. Even after graduating, you should continue to upgrade your skills, which […]

Personal Loan
3 Ways To Reduce Your Wedding Costs And How Getting A Personal Loan In Singapore Can Help

Your wedding day is undoubtedly one of the most important days of your life. If you’ve been saving diligently after meeting “the one”, kudos for planning in advance! However, it may be the case that your savings still aren’t enough to cover the costs of your dream wedding.  To help you along on your journey, […]

Personal Loan
2 Types Of Personal Loans In Singapore To Consider In Times of Emergency

It’s always good when we receive a heads up before something happens, so that we can prepare for it.  But that doesn’t happen all the time. You can never predict when something unexpected crops up, and when you need extra cash urgently. In such times, a personal loan can be a viable option.  Types Of […]

Personal Loan
When Should You Take Out A Personal Loan In Singapore To Upgrade Your Skills?

We’re often told to continuously upgrade our skills because we need to stay relevant in times of changing needs. And one way to do that is through taking up courses. Plus, doing so can be helpful when we choose to switch careers. But taking up courses in Singapore can be quite expensive. For instance, a […]

Blogs and Opinions
8 Reasons Why You Have Low Credit Score In Singapore

Looking to purchase a home, car, or paying for that dream wedding? High costs of living in Singapore can make that hard to achieve. In fact, taking on personal loans to make those dreams a reality is not uncommon. Before applying for a loan, you should look at a few key considerations banks and financial […]

Blogs and Opinions
7 Things You Didn’t Know About Licensed Money Lenders In Singapore

Getting married, buying a home, or furthering your studies are major milestones in life. And these milestones usually come at a hefty price. Remaining debt-free becomes increasingly difficult as you move up the different stages of life; the last thing you want is to be trapped in a financial emergency. Turning to loved ones or […]

Blogs and Opinions
Licensed Money Lenders In Singapore: What Are Your Options If You Can’t Repay Your Loan?

Some of us encounter financial difficulties at different junctures in life. In such situations, borrowing from lenders like banks or licensed money lenders in Singapore would be among the available options to help get you back on your feet. Whether you borrow from a bank or licensed money lender, you’re of course obligated to make […]

Blogs and Opinions
4 Things To Consider When Borrowing From A Licensed Money Lender In Singapore

Whether it’s taking out a loan to renovate your brand new home or financing an unexpected medical emergency, there may come a time when you need some financial assistance. Taking out a personal loan to fund such expenses is a common option.  As a borrower, you’re usually faced with 2 main options: a bank or […]

Company News
Leveraging On Digitalisation To Simplify Loan Application

Singapore — (19 May 2020) — Staying ahead of the digital economy, we at Crawfort, the consumer loan subsidiary of Capital C Corporation, have incorporated digitalisation strategy to introduce a new loan platform with an improved user interface and experience on our website, alongside a new brand name and logo. In line with our goal […]

Blogs and Opinions
6 Things A Licensed Money Lender In Singapore Can’t Do When Collecting Debts

Getting a loan from a money lender in Singapore might be nerve wracking for some. When most think of money lending, they think of a pig’s head hanging by their door or that ‘O$P$’ red paint on the corridor.  However, loan sharks and licensed money lenders in Singapore operate very differently.  Let us look at […]

Personal Loan
6 Reasons Why You May Need A Personal Loan In Singapore

Have you ever found yourself stuck against a wall financially? When you have so many bills to pay, then suddenly, you or someone you know gets into an accident or gets sick. You are then overwhelmed with bills and the debt you need to pay, and the money you’ve saved or earned just isn’t enough […]

Personal Loan
Personal Loans In Singapore: What To Consider When Applying

Personal loans can seem like a mystery. What are they? When should you take them? How do you go about applying for personal loans in Singapore? A personal loan is a lump sum of money borrowed from a bank or licensed money lender, which you have to pay back in instalments (fixed payments) over a […]

Blogs and Opinions
Licensed Money Lender in Singapore Vs Bank: Key Differences

Getting married and buying a home are some of the most significant milestones and expenses you’ll incur when adulting. The last thing you want is to be strapped for cash. When that happens, most people think of borrowing money to tide them through the rough patch. You’re usually faced with two choices – should I […]

Personal Loan
Top 5 Personal Loan in Singapore Myths Busted

It’s pretty common to take up a car loan and/or a housing loan, especially since it’s costly to own a car and a home in Singapore. But when it comes to taking a personal loan in Singapore, it’s usually perceived as the result of poor financial management.  Depending on the circumstances, taking a personal loan […]

Company News
Advisory on COVID-2019

In light of the COVID-19 situation, Crawfort Singapore has stepped up and implemented additional precautionary measures at our outlet.



Company News
Crawfort Is Awarded
ISO 9001 : 2015

Crawfort is proud to be awarded the TUV ISO 9001 mark of quality, and will continue to provide excellent quality of services.

Company News
Crawfort Is Honoured To Be Awarded The Singapore Prestige Brand Award (SPBA) 2019

We are pleased to announce that Crawfort has been awarded The Singapore Prestige Brand Award (SPBA) 2019 – Promising Brands. Into its 18th year, SPBA seeks to recognise and honour distinguished brands for their outstanding achievements in branding. Our team went through rigorous rounds of judging by stellar industry professionals who evaluated us based on […]

10 Business Leaders Recognised As Entrepreneur Of The Year

From training aspiring pilots to lending money, 10 local entrepreneurs received the Entrepreneur of the Year Award (EYA) 2019.

The Breakfast Huddle

Find out how we can help F&B SMEs scale their businesses.

CEO Conversation: Transforming Into A Digital Financial Services Provider

Find out how our Group is leveraging technology to serve underbanked customers in the region.

The Case For Alternative Lending

In the last decade, we have witnessed rapid growth in the alternative lending space, with the creation of new business models opening up the range of alternative lending products available.

How Fintech Is Driving Innovative Lending?

In Singapore, SMEs account for around two-thirds of the workforce and a large chunk of GDP growth. And if these firms can’t get funding, their failure to thrive has a dampening effect on the larger economy.

Company News
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Crawfort rewrites the rules when it comes to moneylending solutions.

Crawfort: Breaking Stereotypes Through Innovation

Innovative business Crawfort is rewriting the rules when it comes to moneylending solutions

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