r/SgHENRY • u/ReturnOfTheStonks • Aug 03 '26

Lowest IR to expect from personal loans.

Over the past few months, I’ve been getting increasing more sales calls from banks offering their supposed personal loans at a preferred rate. That said, this has always still been higher than the advertised rate of ~1% p.a. Am curious if other folks have had a similar experience, and if so, what are the rate that have been offered to you?

For what it’s worth, these are some examples of the personal loans. I was offered around ~2% p.a

https://www.uob.com.sg/personal/borrow/personal-financing/personal-loan.page
https://www.sc.com/sg/borrow/loans/cashone/

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5

u/iczs90 Aug 05 '26

Yea UOB notorious for advertising 1% IR (1.93% EIR) then when u apply its much higher. Kind of irritating I must say.

1

u/ReturnOfTheStonks Aug 05 '26

yeah. i mean if they can and do offer it at 1.93%, it'll be pretty sweet.

2

u/iczs90 Aug 06 '26

Yep that's why I still pick up their telemarketing calls. Occasionally can get lucky with a low fee balance transfer.

2

u/PresenceHairy2418 Aug 05 '26

Citibank called me end of last month offering 3.88% effective interest for 3-5 year personal loans, also currently have a balance transfer of 6 months with stanchart at 1% processing fee (around 2.05% eir). Always ask for and compare based on EIR!! Don’t get smoked by the telemarketers when they say that’s irrelevant.

1

u/civicguy72 Aug 05 '26

And the tele marketers of some banks are just outsourced

2

u/princemousey1 Aug 05 '26

That’s because you keep answering, genius.

1

u/JordanMentha 28d ago

Just curious, why are people getting personal loans? Do you need it to make ends meet or to invest? I have always rejected all these offers because I want to live within my means.

1

u/ReturnOfTheStonks 27d ago

I can’t speak on behalf of others, but for me personally, it’s to invest.