Loan Rates Hit 5-Year Low: Is Now the Right Time for Singaporeans to Borrow?

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[{"type":"text","content":"SINGAPORE, Sept. 2, 2025 /PRNewswire/ -- Personal loan flat rates in Singapore have dipped below 2% p.a. for the first time in five years, signalling a potentially opportune moment for consumers considering debt consolidation, home upgrades, or major personal expenses.","length":274,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":267,"url":"https://media.zenfs.com/en/prnewswire.com/5c849f9254f498019b37834cbc27cfb1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/wXQ.zJ7AjlM2v_Rd9x64qw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/5c849f9254f498019b37834cbc27cfb1","width":400,"height":267}},"href":"https://mma.prnewswire.com/media/2762184/image_5005395_13897185.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"To understand how today's rates compare to past offerings, personal finance platform SingSaver reviewed publicly available data — including archived versions of bank websites — to trace changes in personal loan rates from 2020 to 2025 across major lenders like DBS, OCBC, UOB, and Standard Chartered.","length":304,"tagName":"p"},{"type":"text","content":"SingSaver's review of available data found that personal loan rates have steadily declined from an average of 3.88% p.a. between 2020 and 2023 to as low as 1.85% p.a. in 2025 — marking the lowest they've been in five years.","length":231,"tagName":"p"},{"type":"text","content":"According to the review, personal loan rates from Singapore's major banks in 2025 are as follows:","length":101,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"UOB: 1.85% p.a. flat (EIR 3.40%)","length":32,"tagName":"p"}]},{"val":[{"type":"text","content":"DBS: 1.99% p.a. flat (EIR 4.17%)","length":32,"tagName":"p"}]},{"val":[{"type":"text","content":"OCBC: 1.98% p.a. flat (EIR 4.19%)","length":33,"tagName":"p"}]},{"val":[{"type":"text","content":"Standard Chartered: 1.90% p.a. flat (EIR 3.63%)","length":47,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":144,"olType":false},{"type":"text","content":"This represents a sharp drop from earlier years. For example:","length":61,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"DBS mai...

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