Best instant loans in Singapore (September 2025)
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PUBLISHED ONSeptember 21, 2025 9:30 AMBYVanessa Nah
There are two things we all wish we had more of: money and time. When life throws unexpected bills your way, the last thing you want is to wait days — or even weeks! — for a loan to be approved. That's where instant loans come in.
Whether it's a medical emergency or urgent home repairs, instant loans promise to get you cash fast. But how do they stack up when it comes to interest rates and fees? Just how "instant" are they really?
In this article, I'll be sharing with you all you need to know about the top instant loans around, along with all the quickfire information you'll need to know about them. Beyond that, you'll also have my take on whether you should take a loan from a bank or a licensed moneylender.
For fair comparison, all loan interest rates, effective interest rates (EIR), and fees in this article assume you're taking a loan amount of $10,000 and repaying it over three years unless otherwise stated. Actual rates will be personalised to your loan amount, loan tenure, credit history, and annual income.
1. DBS/POSB Personal Loan
| DBS/POSB Personal Loan: Quick facts | |
| Minimum annual income | $20,000 for Singaporeans/PR |
| Maximum loan tenure | 5 years |
| Interest rates | 1.99 per cent p.a. (EIR 4.17 per cent p.a. ) |
| Processing fee | 1 per cent of approved loan amount |
| Late fee | $100 |
| Early repayment fee | $250 |
Estimated loan approval time:
So two things — if you:
- Have DBS/POSB Cashline account or credit card or
- Have your salary credited into a DBS/POSB savings account
You can get your cash disbursed instantly.
Loan breakdown:
The main thing that caught my attention for the DBS/POSB Personal Loan is that you don't have to be earning a regular salary in order to take this loan. Self-employed individuals and freelance workers can also go for this one.
It also has a low interest rate. As you go on and view the other loans listed in this article, you'll see that few can beat its 1.99 per cent p.a. (EIR 4.17 per cent p.a.).
How do I apply for the DBS/POSB Personal Loan?
You can apply for the DBS/POSB Personal Loan using your available credit limit easily via the respective digibank mobile apps. Existing customers don't need to submit new documents.
2. GXS FlexiLoan
| GXS FlexiLoan: Quick facts | ||
| Loan type | Balance Transfer | Instalment Loan |
| Loan tenure | 4 – 12 months | 2 – 60 months |
| Interest rates | 0per cent interest | From 2.88 per cent p.a. (EIR 5.45 per cent p.a.) |
| Processing fee | From 1.35 per cent (EIR 4.13 per cent p.a.) | None |
| Late fee | No late fee but there is late interest that is chargeable at a default rate of 28 per cent p.a. upon late repayment for both Balance Transfer and Instalment Loan. | |
| Early partial/full repayment fee | None | |
| Minimum annual income | $20,000 p.a. (Singapore Citizen or a Singapore Permanent Resident) | |
Estimated loan approval time:
According to GXS, eligible applicants will usually only wait three minutes or less for their application to be approved.
Loan breakdown:
The GXS FlexiLoan comes in two iterations:
- Balance Transfer: 0 per cent interest but has a one-time processing fee. This option is more suitable for short-term loans of up to one year.
- Instalment Loan: From 2.88 per cent p.a. (EIR 5.45 per cent p.a.) but no processing fees. This option is suitable for longer loan periods of up to five years.
Between the two options, choose Balance Transfer for lower interest rates overall, with 0 per cent interest and one-time processing fees starting from 1.35 per cent (EIR 4.13 per cent p.a.). Tenure can be four to 12 months, and monthly repayments start from as little as one per cent a month.
However, if you need a loan period longer than one year (perhaps if you're taking a larger loan), choose the Instalment Loan option. This allows you to repay a loan over a maximum of five years. The interest rate starts from 2.88 per cent p.a. (EIR 5.45 per cent p.a.), but you can take one per cent off the prevailing interest rate with GXS Reno Club if you're a prospective homeowner.
For both Balance Transfer and Instalment Loan, a high late interest rate of 28 per cent p.a. is chargeable if you fail to make your repayments on time (there is a 2-day grace period). So make sure you have the means for repayment sorted before you apply.
Another thing to note is that you'll only be able to take the Balance Transfer option once. Any future loans you want to take with the GXS FlexiLoan have to be under the instalment loan plan.
How do I apply for the GXS FlexiLoan?
- Download the GXS Bank app and sign up for a GXS FlexiLoan account.
- Customise your loan by entering your loan amount, choosing your repayment tenure, and selecting your preferred monthly repayment date.
- Receive your funds.
3. Mari Credit Card Instant Loan
| Mari Credit Card Instant Loan: Quick facts | |
| Interest rates | 1.86 per cent p.a. (EIR 2.79 per cent) |
| Processing fee | $0 |
| Minimum annual income | – $30,000 for those between 21 to 55 years old – $15,000 for those over 55 years old. This is to be eligible for a Mari Credit Card, which is a requirement in order to apply for their Instant Loan. |
| Late interest | – 27.99 per cent p.a. on any outstanding amount if the Statement Due is not paid in full by the due date. – 30.99 per cent p.a. on any outstanding amount if the Minimum Payment Due is not paid in full by the due date. In both cases, interest is calculated on a daily basis. |
Estimated loan approval time:
MariBank says: "Your application will be reviewed upon submission and you should receive your funds within one to two minutes if your loan is approved."
So most likely, you'll get your money pretty much instantly (1 - 2 minutes) after submitting your application if you are approved.
Loan breakdown:
Mari Credit Card Instant Loan is an option for MariBank customers with a Mari Credit Card. It allows you to convert a portion of your remaining credit limit into cash. For example, if your Mari Credit Card's credit limit is $20,000 and you charge $5,000 to the card, you have $15,000 that you can draw down from as a Mari Instant Loan.
While the loan interest rate is low, MariBank has incredibly high interest rates if you're late with your payments: 27.99 per cent p.a. to 30.99 per cent p.a. Do not, and I mean do not, take this loan if you're unsure of your ability to make punctual repayments.
How do I apply for a Mari Instant Loan?
| For existing MariBank customers | If you're not a MariBank customer yet |
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If you don't already have a Mari Credit Card and Mari Savings account, these will be issued to you once your loan application is successful.
4. OCBC ExtraCash Loan
| OCBC ExtraCash Loan: Quick facts | ||
| Annual income requirement | Singaporean/PRs above 21 years of age: At least $20,000. Foreigners above 21 years of age: At least $45,000 | |
| For annual income $30,000 and above | For annual income between $20,000 to $29,999 | |
| Interest rates | 10.08 per cent p.a. (EIR 11.47 per cent) | 22 per cent p.a. (EIR 23.67 per cent) |
| Processing fee | $200 or 2 per cent of the approved loan amount, whichever is higher | $100 |
| Late fee | $80 | |
| Early partial/full repayment fee | 3 per cent of amount to be repaid ($1,000 minimum repayment) 1 month interest in lieu will be charged if redemption is done immediately | |
| Restructuring fee | 3 per cent of outstanding loan amount | |
Estimated loan approval time:
Instant approval and cash disbursement when you apply via Myinfo.
Loan breakdown:
With the OCBC ExtraCash Loan, you can get instant approval and disbursement of your money when you apply via Myinfo. The major downside? Interest rates are sky-high. You’re looking at an EIR of 11.47 per cent if your annual income is $30,000 and above, or a whopping 23.67 per cent if it’s $20,000– $29,999. This is of course assuming you’re taking a 3-year repayment plan.
How do I apply for an OCBC ExtraCash Loan?
Apply via Myinfo (which is authenticated using Singpass) for a smooth, secure and fast application process. This will also help you get your cash disbursed instantly.
5. Trust Instant Loan
| Trust Instant Loan: Quick facts | |
| Age requirement | Between 21 to 65 years old |
| Minimum annual income | $30,000 (Singaporean or Permanent Resident) $60,000 (Foreigner with a valid work pass) |
| Interest rates | 1.56 per cent (EIR 3.00 per cent p.a.) |
| Processing fee | None |
| Late interest rate / fee | 27.9 per cent p.a. & $100 late fee |
| Early partial/full repayment fee | 3 per cent |
Estimated loan approval time:
According to Trust, you'll get your loan approved and money deposited into your Trust account within 60 seconds from application.
Loan breakdown:
Like the Mari Credit Card Instant Loan, the Trust Instant Loan lets you convert part of your Trust credit card’s credit balance into cash. This cash will be put into your Trust savings account. So, as you can guess, applying for a Trust Instant Loan means you’re also applying for a Trust credit card and savings account (if you don’t already have them).
Currently, Trust Instant Loan rates are very low — they start from just 1.56 per cent (EIR 3.00 per cent p.a.). This is a promotional rate that’s being offered till Sept 30, 2025.
How do I apply for a Trust Instant Loan?
Apply for a Trust Instant Loan on the Trust app:
| For existing Trust customers | For new Trust customers |
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6. UOB Personal Loan
| UOB Personal Loan: Quick facts | |
| Age requirement | Between 21 to 65 years old |
| Minimum annual income | $30,000 |
| Interest rates | From 1.85 per cent (EIR 3.40 per cent p.a.) |
| Processing fee | 0per cent |
| Late fee | $100 |
| Full repayment fee | $150 or 3 per cent of the outstanding amount |
| Restructuring fee | No cancellation, restructuring, or partial prepayment allowed. |
Estimated loan approval time:
You should be able to get instant approval and cash disbursement with the UOB Personal Loan.
Loan breakdown:
If you're an existing UOB Credit Card/CashPlus customer, consider taking a UOB Personal Loan. Aside from its instant approval, another strong point of the UOB Personal Loan is that it's affordable — it comes with no processing fees and low interest rates of 1.85 per cent (EIR 3.40 per cent p.a.).
You also have a good deal of flexibility in terms of how long you'll borrow the money, with loan periods of one to a maximum of five years.
How do I apply for a UOB Personal Loan?
You may apply for a UOB Personal Loan online using a UOB savings account or current account.
7. Credible.sg Personal Loan
| Credible.sg Personal Loan: Quick facts | |
| Age requirement | 21 and above |
| Minimum annual income | $20,000 (Singaporeans and PR) $40,000 (Foreigners) |
| Interest rates | 14per cent p.a. (EIR from 14.93per cent p.a.) |
| Processing fee | From 5per cent |
| Late fee | 2per cent of the outstanding balance |
| Full repayment fee | No penalty |
| Restructuring fee | No penalty |
Estimated loan approval time:
According to Credibile.sg, you’ll be able to complete the digital application in under five minutes and receive same-day approval.
Loan breakdown:
So, you probably realised that this loan isn't coming from a bank — and you'd be right because Credible.sg is actually a platform that helps you connect to licensed moneylenders. And if the company's name didn't clue you in, the slightly higher interest rates might've.
You're probably thinking — why would I opt for a loan with a 14 per cent interest rate when banks are offering way lower than that. Well, Credible.sg serves borrowers who are looking for alternatives to banks — which may mean borrowers with less than perfect credit scores are still eligible to apply.
That's the main draw. While interest rates are low for banks, you might not even be able to get your foot through the door with a bad credit score. So when all else fails, a platform like Credible.sg might be your best option.
On the bright side, you dodge early repayment and restructuring fees, plus there are no pesky processing charges. Whether you're a full-time employee or a freelancer figuring it out as you go, they've got you covered — and the best part? You get your loan funds on the same day.
How do I apply for a Credible.sg Personal Loan?
Credible.sg has a really quick process from start to finish:
- Gather up some key documents (Proof of income, ID etc) and fill out the straightforward application form.
- Wait for the Credible.sg team to process your application and documents.
- Visit your selected outlet for a quick appointment, sign the relevant documents, and pick up your funds.
8. Loans from banks vs licensed moneylenders
The loans we recommended above are all from physical or digital banks. Considering taking a loan from a licensed moneylender instead?
Here are the key differences:
| Bank loan | Moneylender loan | |
| Credit history | Stricter, generally requires good credit score | More flexible |
| Annual income | Typically requires annual income of at least $20,000 | Possible with an annual income below $20,000 |
| Loan amount | Larger, up to 12 times your monthly income | Smaller: – Up to $3,000 if your annual income is below $20,000 – Up to 6 times your monthly income if you earn at least $20,000 a year |
| Loan period | Typically longer, 1 to 7 years | Typically shorter, within 1 year |
| Interest rates | Usually lower, starting from around 3 per cent p.a. | Usually higher, but capped at 4 per cent per month |
| Approval time | Usually longer, from a day up to a week | Usually shorter—from as little as within 30 minutes |
So as you can tell from the comparison above, there are a unique set of advantages when borrowing from a licensed moneylender.
Which brings us now to the big question.
9. Should I take a loan from a bank or licensed moneylender?
If you qualify for a bank loan (i..e you have a good credit score and earn at least $20,000 a year), it might be the best option for you. It’s the more cost-effective option, and you’ll also be allowed to take a larger loan amount if need be. While some bank loans require a longer wait to get your loan approved and money disbursed, the loans we highlighted above are very fast.
Consider a loan from a licensed* moneylender only if:
- You have a poor credit history, and/or
- Your annual income falls below $20,000
*Note that we said licensed moneylender. Read the next section to find out how to verify your institution is legit.
Whether you take a loan from a bank or licensed moneylender, always only borrow within your means. You can use our personal loan comparison tool to calculate your monthly repayments so you can be sure that you can manage the loan.
10. How do I know if a loan is legit?
- If you're taking a bank loan, verify that your bank is licensed and regulated by the Monetary Authority of Singapore (MAS) using their Financial Institutions Directory.
- If you're taking a loan from a moneylender, verify that it is licensed using the Ministry of Law's Registry of Moneylenders in Singapore.
In both cases, never respond to unsolicited messages, emails, or calls about loan offers — banks and moneylenders are not allowed to advertise their loans this way.
You're either dealing with an unlicensed lender or a licensed one that is breaking the rules. Either way, don't proceed!
Report such advertisements immediately to the relevant authorities.
| Registry of Moneylenders | 1800-CALL-LAW (1800-2255-529) |
| Police | 1800-255-0000 |
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This article was first published in MoneySmart.