Personal Loan Calculator
Estimate your monthly repayment, total interest and total repayment amount before applying for a personal loan.
90.2% Principal
9.8% Interest
MinLaw Interest Guide
Personal Loan Calculator: How Licensed Moneylenders Calculate Interest
This personal loan calculator helps borrowers estimate monthly instalments, total interest and total repayment before applying with a licensed moneylender in Singapore.
- Monthly interest: Licensed moneylender interest is capped at 4% per month under MinLaw rules.
- Total repayment: Borrowers should check the full amount payable, not only the monthly instalment.
- Fees to check: Admin fees are capped at 10% of the loan principal, and late fees are capped at S$60 per month.
- No upfront fee: Borrowers should not pay any upfront fee before loan approval and disbursement.
- How much can I borrow: The approved loan amount depends on income, residency status, existing commitments, repayment ability and the legal borrowing limits for licensed moneylenders in Singapore.
This calculator is for estimation only. The final repayment amount depends on the approved loan amount, repayment period and loan terms explained before signing.
3 Simple Steps
to receive your
instant cash loan
Submit Online Application
Register an account or simply fill up the loan application form. Takes only 3 mins.
Receive Application Status
Outcome of the loan with the maximum loan amount will be provided to you within an hour.
Fast Cash Disbursement
Head down to your selected Credit 21 branch, sign the contract and get your money instantly.
