Get a FREE Sony PlayStation® 5 Disc Console (worth S$799), Apple iPad 9th Gen 10.2 Wifi 64GB & more from 14 – 18 Dec 23

This is the best time to sign up for a credit card

SingSaver, a leading fintech platform since 2015, will be running a flash promotion and for the first time ever, you can receive not one but TWO welcome gifts for signing up for a credit card. Yes, you see it right! For a limited time only from 14 – 18 December 23, SingSaver will be giving away an additional free Sony PlayStation® 5 Disc Console (worth S$799) for new cardmembers who sign up for a credit card. What this means is you can double dip and take advantage of this campaign to receive two welcome gifts during this period!

How it works

From 14 – 18 December 2023, the first 10 approved applicants at [12pm]  daily will receive an additional Sony PlayStation® 5 Disc Console (worth S$799) as a welcome gift, on top of existing promotional offers. If you are not the first 10, you will still be able to choose a welcome gift from their ongoing promotions.

For example, if you are the 9th applicant, you will receive a Sony PlayStation® 5 Disc Console (worth S$799) and an Apple iPad 9th Gen 64GB if you applied for a Citi Cashback Card. If you are the 11th applicant, you will receive the standard welcome gift of Apple iPad 9th Gen 64GB. In other words, you will definitely walk away with something if you meet the requirements.

How the first 10 applicants are picked

  1. When you clicked on Apply Now button below, a new window appears
  2. The timestamp will be logged when you submit your email address and at the end time of your submission of the rewards redemption form
  3. The first 10 applicants who applied at 12pm and get their card approved will be eligible. (Total of 50 sets from 14 – 18 December 24)
  4. Successful applicants will be announced on this page.

For more details of how the selection process works, click here.

For those who are unfamiliar with SingSaver, you can check out their reviews on Google:

Choose from the following cards below:

Citi PremierMiles Card

Earn your miles faster with one of the best cards for your travel needs. The Citi PremierMiles Card lets you redeem from the widest range of airlines, where 1 Citi Mile = 1 Mile, with KrisFlyer, Asia Miles, Qantas, Qatar, Flying Blue, and more.  With no caps on miles earned, redeem your miles for flights, hotels and merchandises.

  1. Earn 1.2 miles for every S$1 spent on all your eligible purchases with your Card
  2. Earn 2 miles for every S$1 equivalent in foreign currency spent overseas on eligible purchases
  3. Complimentary access to over 1,300 airport VIP lounges twice per calendar year with Personalised Priority Pass membership card. Priority Pass membership is on application basis and reserved for Principal cardholders only.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

From the 11th applicant onwards:

  1. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

Citi Cash Back Card

Keep this card in your wallet. The Citi Cash Back Card is one of the best cash back card in the market, offering a whopping 8% cash back on your Groceries and Petrol, and 6% on dining, daily, worldwide. Subject to cash back cap of S$80 across all retail spend per statement month with a min. spend of S$800 per statement month.

Imagine this: every $800 spends get you $80 cash back in a month.That works out to be almost a thousand dollar of cash savings in a year!

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

From the 11th applicant onwards:

  1. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

Citi Rewards Card

The Citi Rewards Card is a must-have card for those who always shop online using credit cards. Imagine earning 10X Rewards^ (4 Miles) for every S$1 spent online each time you shop. For example, you can earn 4 miles per dollar on shopping transactions, online food delivery, online groceries, ride-hailing platforms with the Citi Rewards Credit Card. Often paired with the amaze card, you’ll be able to earn 4 miles per dollar on both local and overseas spend, up to S$1,000 per statement month. If you are looking for a versatile card, look no further than the Citi Rewards Card!

  • Enjoy 10X Rewards^ (4 Miles) on online and retail purchases at Lazada, Qoo10, TANGS and more.
  • Earn 10X Rewards* (4 Miles) on rides with Grab, ComfortDelGro, Gojek and more
  • Earn 10X Rewards^ (4 Miles) on online food delivery
  • Earn 10X Rewards^ (4 Miles) on online groceries

Earn 1X Reward on all other spend.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

From the 11th applicant onwards:

  1. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

Citi Cash Back+ Mastercard® 

Not to be confused with the Cash Back Card, the Citi Cash Back+ Mastercard® is a new product launched by Citibank this year which offers a competitive 1.6% cashback on all spend categories with no cap and no minimum spend. In other words, you can accumulate as much cashback as you want each time you swipe you card. It does not expires and you can redeem it instantly on-the-go with Citi Pay with Points or for cash rebate via SMS.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

From the 11th applicant onwards:

  1. Receive an Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65) or Dyson Supersonic (worth S$699) or Dyson V8 Slim Fluffy (worth S$509) or S$300 cash via PayNow

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

Apply Now

Introducing the OCBC 90°N Credit Card, the perfect travel and everyday spending companion. Earn 2.1 Miles per S$1 on foreign currency spend and 1.3 Miles per S$1 on local spend. Miles never expire, providing flexibility for future use. Enjoy exclusive travel perks, lifestyle privileges, and complimentary airport lounge access. Apply now and turn your purchases into exciting adventures with OCBC 90°N Credit Card.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive a Travel Bundle [Samsonite Volant Spinner 68/25 EXP + 2x Apple AirTag] (worth S$570), or an Apple Bundle [Apple AirPods (Generation 3) with Magsafe Charging Case + MagSafe Charger] (worth S$330.50), or S$300 eCapitaVoucher or S$280 Cash via PayNow

From the 11th applicant onwards:

  1. Get a Travel Bundle [Samsonite Volant Spinner 68/25 EXP + 2x Apple AirTag] (worth S$570), or an Apple Bundle [Apple AirPods (Generation 3) with Magsafe Charging Case + MagSafe Charger] (worth S$330.50), or S$300 eCapitaVoucher or S$280 Cash via PayNow

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

OCBC Titanium Rewards Card

Apply Now

Meet the OCBC Titanium Rewards Card, a powerful rewards card that brings you 10 times more rewards for every dollar spent at selected merchants like Apple, Shopee, and H&M, equivalent to 4 miles for every S$1 spent. Whether you shop online or in stores, this card lets you earn generous rewards on your purchases. Plus, you’ll also enjoy additional perks with a 2% cash rebate when shopping at BEST Denki. With the OCBC Titanium Rewards Card, you can indulge in your favorite shopping experiences while maximizing your rewards at the same time.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive a Travel Bundle [Samsonite Volant Spinner 68/25 EXP + 2x Apple AirTag] (worth S$570), or an Apple Bundle [Apple AirPods (Generation 3) with Magsafe Charging Case + MagSafe Charger] (worth S$330.50), or S$300 eCapitaVoucher or S$280 Cash via PayNow

From the 11th applicant onwards:

  1. Get a Travel Bundle [Samsonite Volant Spinner 68/25 EXP + 2x Apple AirTag] (worth S$570), or an Apple Bundle [Apple AirPods (Generation 3) with Magsafe Charging Case + MagSafe Charger] (worth S$330.50), or S$300 eCapitaVoucher or S$280 Cash via PayNow

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

OCBC Infinity Cashback Card

Apply Now

 

The OCBC Infinity Cashback Card offers an unlimited opportunity to earn cashback on your purchases, no matter what you’re buying—whether it’s essentials, desires, or favorites. New OCBC cardholders get a bonus 0.2% cashback, while everyone enjoys a consistent 1.6% cashback throughout the year. There’s no minimum spending requirement or cap on the cashback you can accumulate.

The cashback is automatically credited, making it hassle-free. If this sounds appealing, you can apply for the card now.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive a Travel Bundle [Samsonite Volant Spinner 68/25 EXP + 2x Apple AirTag] (worth S$570), or an Apple Bundle [Apple AirPods (Generation 3) with Magsafe Charging Case + MagSafe Charger] (worth S$330.50), or S$300 eCapitaVoucher or S$280 Cash via PayNow

For the 11th applicant onwards:

  1. Receive a Travel Bundle [Samsonite Volant Spinner 68/25 EXP + 2x Apple AirTag] (worth S$570), or an Apple Bundle [Apple AirPods (Generation 3) with Magsafe Charging Case + MagSafe Charger] (worth S$330.50), or S$300 eCapitaVoucher or S$280 Cash via PayNow

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

OCBC 365 Credit Card

Apply Now

The OCBC 365 Credit Card is your gateway to incredible cashback rewards. With 2x more cashback of up to S$160 per month (S$1,920 per year), you’ll save more than ever on your daily expenses. Revel in 3% cashback on pharmacy, streaming, and EV charging, making your essential services even more affordable. What’s more, indulge your taste buds with a satisfying 5% cashback on all dining and food delivery, letting you relish your favorite meals while earning cashback. The OCBC 365 Credit Card is designed to enhance your everyday spending, providing you with unmatched cashback benefits and significant savings throughout the year.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive a Dyson Supersonic hair dryer (worth S$699), or Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65), or an Nintendo Switch OLED (worth S$549) or S$250 Cash via PayNow + S$100 eCapitaVoucher

From the 11th applicant onwards:

  1. Receive a Dyson Supersonic hair dryer (worth S$699), or Apple iPad 9th Gen 10.2 Wifi 64GB (worth S$503.65), or an Nintendo Switch OLED (worth S$549) or S$250 Cash via PayNow + S$100 eCapitaVoucher

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards

Standard Chartered Simply Cash Credit Card

Apply Now

Elevate your financial journey with the Standard Chartered Simply Cash Credit Card, a gateway to a world of exciting possibilities and unbeatable rewards. Imagine earning a generous 1.5% cashback on all your expenditures, transforming your everyday transactions into a treasure trove of savings. But the benefits don’t stop there – this card is designed to revolutionize the way you manage your finances. Whether it’s settling your IRAS dues, investing in education, securing insurance coverage, or managing rental payments, the Simply Cash Credit Card showers you with not just cashback, but also reward points and even bonus interest.

For the 1st – 10th applicant:

  1. Receive a Sony PlayStation® 5 Disc Console (worth S$799); AND
  2. Receive a AirPods Pro Gen 2 + AirTag bundle (worth S$407.35) or Nintendo Switch Gen 2 (worth S$399) or Xiaomi Robot Vacuum S10 EU (worth S$379) or up to S$350 (incl. S$20 COF)

From the 11th applicant onwards:

  1. Receive a AirPods Pro Gen 2 + AirTag bundle (worth S$407.35) or Nintendo Switch Gen 2 (worth S$399) or Xiaomi Robot Vacuum S10 EU (worth S$379) or up to S$350 (incl. S$20 COF)

Requirements: New-to-bank cardmember and make a minimum spend of S$500 on eligible purchases within 30 days of card approval to be eligible for rewards


How to redeem your rewards:

  1. Search for any of the cards that matches your spending habits
  2. Click on Apply Now and Enter your email address on the new page (SingSaver will be sending the redemption instructions here. Check SPAM folder if you don’t receive any emails)
  3. Click Start Application / Apply with Myinfo
  4. Complete the application form from the bank and remember to take a screenshot upon completion so you can take note of the application reference number (ARN). Here’s where to find it.
  5. Submit your Rewards Redemption Form with your Application Reference Number and Choose your preferred rewards and submit the form.
  6. Important: If you did not received the Rewards Redemption Form, please check your SPAM folder in your email OR drop and email to [email protected] with your application details.
  7. Once you fulfill all the requirements (i.e. meeting the $988 mininum spend in 60 days from card approval), please allow some time for SingSaver and the bank to validate. Click here to understand more about the process.

You can click here to check the rewards redemption status.

For redemption follow-ups and enquiries, drop an email with your details to [email protected]


This promotion is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Sony, Dyson or any of its subsidiaries or its affiliates. The names Sony, Dyson as well as related names are registered trademarks of their respective owners.

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Get a FREE Dyson Supersonic™ hair dryer (worth S$699), Apple iPad 9th Gen (worth S$503.65) when you apply for selected credit cards with SingSaver from now till 8 Dec 2023

Bring home a brand new Dyson Supersonic™ hair dryer (worth S$699) or a Apple iPad worth $503.65

Want a brand new Dyson Supersonic™ hair dryer or an Apple iPad? From now till 8 December 2023, SingSaver and HSBC Bank will be offering new cardmembers who sign up for a credit card with a free Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 9th Gen 10.2 64GB WiFi (worth S$503.65) upon activating and spending (min. S$500 spend) on eligible goods and services within 30 days of card approval.

Alternatively, for those who do not want an iPad or a Dyson hairdryer, can opt to receive the following:

  • Sony Portable Theatre System HT-AX7 (worth S$759); or
  • S$350 upsized cash via PayNow

There are no limit to the number of sets to be given away, so every eligible applicant who applies can all receive a set each!

For those who are unfamiliar with SingSaver, you can check out their reviews on Google:

HSBC TravelOne Credit Card

Apply Now

The HSBC TravelOne Credit Card opens up a world of elevated travel with its incredible features. This card stands out as the first HSBC credit card to offer instant redemptions with a wide array of airline and hotel partners, all accessible through your mobile app, providing unprecedented convenience. Additionally, you can earn up to 2.4 miles (6X Reward points) for every dollar spent, accelerating your journey towards your travel dreams. The card further enhances your travel experience with complimentary travel insurance coverage, including protection against COVID-19, airport lounge visits, and more. Moreover, its flexibility shines through with the option to split purchases across various tenors to suit your individual needs through HSBC Instalment Plans, ensuring that your travel experiences are tailored to your preferences.

Welcome gift: Receive a Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 9th 10.2″ WiFi 64GB (worth S$503.65) or Sony Portable Theatre System HT-AX7 (worth S$759) or S$350 upsized cash via PayNow

Requirements: Activate and spend min. S$500 for 30-day periods following card approval plus pay for card annual fee to be eligible for gift

HSBC Visa Platinum

Apply Now

HSBC Visa Platinum Credit Card is a high cashback rewards credit card, with no annual fees – ideal for families as you can get 5% cash rebate on categories like dining, groceries and fuel. Important to note would be the minimum spending requirement of S$600 per calendar quarter to qualify for rebates and the S$250 rebate cap per calendar quarter.

Welcome gift: Receive a Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 9th 10.2″ WiFi 64GB (worth S$503.65) or Sony Portable Theatre System HT-AX7 (worth S$759) or S$350 upsized cash via PayNow

Requirements: Activate and spend min. S$500 for 30-day periods following card approval

HSBC Revolution Card

Apply Now

HSBC Revolution Card is a rewards credit card ideal for savvy online shoppers. It allows you to earn up to 10X Points on online purchases or the usage of contactless payment like Visa PayWave and Apple Pay. Alternatively you can choose miles as your reward, with 4 miles for every dollar spent ($1 = 4 miles). Benefits of the HSBC Revolution card include no annual fees, travel insurance, no required minimum spend and more.

Welcome gift: Receive a Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 9th 10.2″ WiFi 64GB (worth S$503.65) or Sony Portable Theatre System HT-AX7 (worth S$759) or S$350 upsized cash via PayNow

Requirements: Activate and spend min. S$500 for 30-day periods following card approval

HSBC Advance Credit Card

Apply Now

The HSBC Advance Credit Card is a cashback credit card designed to help you save as you spend with up to 3.5% cashback without minimum spend. Spending less than S$2,000 monthly gets you 1.5% cashback while spending more than S$2,000 will get you 2.5% cashback. The maximum cashback you can earn per month is capped at S$70.

The extra 1% cashback can be earned when the HSBC Advance Cardholder also has an HSBC Everyday Global Account that fulfills S$2,000 of monthly deposit AND charges 5 qualifying Credit Card transactions.

Welcome gift: Receive a Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 9th 10.2″ WiFi 64GB (worth S$503.65) or Sony Portable Theatre System HT-AX7 (worth S$759) or S$350 upsized cash via PayNow

Requirements: Activate and spend min. S$500 for 30-day periods following card approval


This promotion is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Dyson, Apple, Sony or any of its subsidiaries or its affiliates. The names Dyson, Apple, Sony as well as related names are registered trademarks of their respective owners.

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Get a free Dyson Omni-glide™ (worth S$649) when you apply for selected credit card from 15 – 17 Feb 22

Get your hands on one of the most maneuverable vacuum

Here’s a deal you don’t want to miss. From 15 – 17 Feb 2022, receive a FREE Dyson Omni-glide™ (worth S$649) when you apply for the Standard Chartered Smart Credit Card via SingSaver.

The first 10 successful new-to-card applicants who apply during each of the specified time slots: [11am], [2pm] and [5pm] from 15 – 17 Feb 2022 will get a complimentary Dyson Omni-glide™ (worth S$649)  with a minimum spend of $350 within 30 days of card approval.

If you are not within the first 10, you can still choose between a brand new Airpods Pro (S$379) or S$300 cash. Nonetheless, it’s still a good offer that you don’t want to miss!

Dyson Omniglide

Probably the most flexible vacuum cleaner in the market

Apply for the Standard Chartered Smart Credit Card below:

The Standard Chartered Smart Credit Card allows you to earn 6% cashback in the form of reward points on selected merchants with no min. spend required. You can also enjoy S$0 fees on annual fee and cash withdrawal with 3-month interest-free instalments with 100% cashback on service fees. Now that is the smarter way to spend and you can say goodbye to fees!

Here’s how to redeem your rewards:

  1. Search for any of the cards that matches your spending habits
  2. Click on Apply Now and fill in your email address (SingSaver will be sending the redemption instructions here. Check SPAM folder if you don’t receive any emails)
  3. Complete the application form from the bank and remember to take a screenshot so you can take note of the application reference number
  4. Once your card is approved, check your email inbox for the reward redemption instructions from SingSaver (Check  junk/spam inbox too)
  5. Sign up for an account on SingSaver’s website to access the redemption form
  6. Fill up the form with the application reference number and you are good to go!

For redemption follow-ups and enquiries, drop an email to [email protected]


This promotion is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Dyson Singapore Pte Ltd, or any of its subsidiaries or its affiliates. The names Dyson and Dyson Omniglide as well as related names are registered trademarks of their respective owners.

 

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Get covered for accidents and COVID-19 for less than $0.30/day

Get covered for COVID-19 and personal accidents for less than $0.30/day

Protect yourself and your family members from the impact of the novel coronavirus. The ongoing pandemic has means uncertainty for a lot of people. To cope with the health and financial challenges, SingSaver has launched a personal accident insurance policy with FWD to extend coverage for COVID-19.

The new and exclusive insurance product will cover infectious disease including COVID-19, Dengue, Zika and more at only $98/year — one of the cheapest in the market.

One of the highest limit/coverage for COVID-19

The policy offers coverage for the highest number of Infectious Diseases in the market. It also has the highest Death Benefits of $50,000; plus Guardian Angel Benefits and Funeral Expenses Benefits at $50,000 and $2,500 respectively.

That is not all. You will be covered with a $1,000 limit for inpatient and outpatient expenses and $25/day in hospital income for up to 365 days! ($50/day if you are admitted to ICU) Yes, you see it right. Insurance coverage for the entire year. (Most insurer has a higher daily hospital cash payout but has a cap of around 14 – 30 days)

With unlimited medical evacuation, you enjoy a peace of mind if you contract an infectious disease or met with a accident overseas.

No occupation loading

Working in an environment that carries more risk? Most insurers in the market impose occupation loading which increases the price by as much as 80%! You’d be glad to know that FWD does not impose occupation loading. (Yay, for frontline healthcare workers)

The plan also covers all personal accidents

The personal accident plan also covers all accidents. In the unfortunate event that there is an accident i.e. your Grab ride gets into a collision or a GrabFood rider on e-scooter knocks into you, you are well covered with this policy.

Frequently Asked Questions

  1. For hospitalisation due to accidents and COVID, cost of ward stay is excluded right? (i.e. I’ll need to have medical insurance for that instead)
    Covid19 – SG govt covers the hospitalisation ward stay, so the $1K medical expenses is additional $ for you. For other infectious diseases and Accidents, your ward stay can be reimbursed via medishield life/ integrated shield plan (the $1K medical expenses is additional $ for you).
  2. The plan covers me for 1 year. Anything to note if I want to renew?
    Usually renewal or buying a PA policy will ask some questions like Age below 65, never excluded from any PA insurance
    applications previously, etc.
  3. Does it cover accidents arising from car accidents? i.e. my Grab ride gets into a collision, or a GrabFood rider on e-scooter knocks into me
    Yes, it covers ALL ACCIDENTS – as long as it is an accident.

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Best Personal Loans in Singapore with the Lowest Interest Rates (for 2019)

OCBC, HSBC and Standard Chartered offer the lowest interest personal loans in Singapore, available exclusively on SingSaver.

Editor’s note: Personal loan and bank rates are subject to change. Last updated 7 October 2019.

Whether it’s due to an emergency or simple cash flow management, most of us will need a personal loan at some point. Personal loans do get a bad reputation sometimes, but if you understand how to manage cash flow and know how to take advantage of promotional interest rates, they can be used to your advantage.

The most important factor when deciding on a personal loan is the interest rate for the personal loan. The lower the interest rate, the better. This is especially true if you need to borrow a large amount. Interest rates being offered via SingSaver are often lower than the ones being offered by the bank but also take note that ultimately, the final loan interest rate will also take into account your credit score, salary and repayment history.

Also pay attention to any admin or processing fees involved (sometimes, they are waivable), annual fees, how quickly you can get your cash as well as the monthly instalments to be repaid. Here’s a quick guide on the dos and don’ts when applying for a personal loan. We’ve compared the lowest interest rate personal loans available on the market right now and shared them below.

S$20,000 LOAN WITH 3-YEAR TENOR

Bank Loan Flat Annual Interest Rate Effective Interest Rate (p.a) Processing Fees Monthly Payment
OCBC Personal Loan 3.5%* 7.27% $200 $614
HSBC Personal Loan 3.7%* 7.00% $200 (min of $88) $617
SCB CashOne Personal Loan 3.88%* 7.97% $199 (waived as cashback) $620
*NEW* SCB CashOne Fee Free Personal Loan 4.38%* 8.2% None $630

*Exclusive rate only available on SingSaver

1. OCBC Personal Loan

Enjoy the low interest rate of 3.5% p.a. (EIR 7.27% p.a.) — the lowest in the market currently — when you apply for an OCBC Personal Loan. This rate is exclusive for new to OCBC loan customers who apply via SingSaver. In addition, receive up to $320 in Capitaland vouchers with a minimum loan amount of $8,000. (Note: existing OCBC loan customers will be offered an interest rate from 4.7% p.a)

The downside for this loan is there’s a one-time processing fee of 1% of the loan amount. So if you’re looking at a $20,000 loan amount, that will be a processing fee of $200.

Do note that you will need to open an OCBC Credit Card or OCBC EasiCredit account to service your loan. Your maximum credit limit will be 6x your monthly salary if you’re earning $120,000 a year and above (if not, it will be 4x your monthly salary). Click the “Apply Now” button below, which helps you apply for both the credit account and cash loan all at once.

SingSaver Exclusive Rate

This low rate of 3.5% p.a. (EIR 7.27% p.a.) for your OCBC Personal Loan is exclusive to customers who apply through SingSaver and is not available on the bank’s own website.

Eligibility

Nationality Age Minimum Annual Income
Singaporean or Permanent Resident (PR) 21 – 65 years old S$30,000 and above
Foreigners (residing in Singapore) 21 – 65 years old S$42,000 and above

2. HSBC Personal Loan

If you’re looking at a loan tenor of 2 to 4 years, the HSBC Personal Loan offers the best annual interest rate of 3.7% p.a. (EIR 7% p.a.) for all income levels above S$30,000 per annum. This interest rate is only available on SingSaver and cannot be found on HSBC’s own website. 

The HSBC Personal Loan also offers the longest loan tenor on the market — you can spread out your payments over up to 7 years. Enjoy a waiver of the S$88 processing fee as part of your welcome offer.

Loan amounts range from a minimum of S$5,000 to a maximum of 4x your monthly salary. If your annual income exceeds S$120,000, you can borrow up to 8x your monthly salary, or a maximum of S$200,000.

Foreigners residing in Singapore will need a minimum annual income of S$40,000, and may borrow up to 2x their monthly income, or a maximum of S$100,000.

Nationality Age Minimum Annual Income Other requirements
Singaporean or Permanent Resident (PR) 21 – 65 years old S$30,000 and above N.A.
Foreigners (residing in Singapore) 21 – 65 years old S$40,000 and above Employment Pass with at least 12 months’ validity

3. Standard Chartered CashOne Personal Loan

With a guaranteed flat interest rate of 3.88% p.a. (EIR from 7.63% p.a.), regardless of loan amount or tenure, the Standard Chartered CashOne Personal Loan is one of the best options in the market.

There are no processing fees for this loan but Standard Chartered charges an annual fee of S$199 (waivable for the first year). Subsequently, a S$50 fee waiver will also be awarded (in the form of a cashback) from the second year onwards if all payment is received by the due date for the past 12 months.

What’s more, you can now get instant approval and loan disbursement – no more waiting 3-5 working days to receive your cash! From now till 29 February 2020, you can also receive an Apple AirPods worth $239 when you apply for a minimum loan of $10,000!

Nationality Age Minimum Annual Income Other requirements
Singaporean or Permanent Resident (PR) 21 – 65 years old S$30,000 and above N.A.
Foreigners (residing in Singapore) 21 – 65 years old S$60,000 and above • Foreigners must be holders of P1, P2 or Q type Singapore Employment Passes
• Q Pass holders must have minimum 1-year validity remaining on their passes

4. *NEW* Standard Chartered ‘Fee Free’ CashOne Personal Loan

For a limited time between now until October 31, Standard Chartered are offering a fee-free personal loan with a flat interest rate of 4.49% (EIR from 8.4% p.a.). It comes with:

  • annual fee permanently waived
  • no early redemption fee (after 9 months)
  • instant approval and cash if you apply via MyInfo
  • $160 cashback for successful applicants with minimum $20,000 loan

As there is no “lock-in” period, this limited offer is ideal for people looking for a fuss-free (and fee-free!) product as a means for investment or quick emergency cash.

Nationality Age Minimum Annual Income Other requirements
Singaporean or Permanent Resident (PR) 21 – 65 years old S$30,000 and above N.A.
Foreigners (residing in Singapore) 21 – 65 years old S$60,000 and above • Foreigners must be holders of P1, P2 or Q type Singapore Employment Passes
• Q Pass holders must have minimum 1-year validity remaining on their passes

If you’re still undecided, we’ve compared all the personal loans being offered by banks so you can easily compare the various terms and conditions. Compare and apply through SingSaver now and save more with exclusive welcome gifts and better interest rates.

Alternatively, check out our summary of the Best Personal Loans in Singapore 2019 for our recommendations of the best loans based on different needs.

This article first appeared on Singsaver.com.sg.

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