How to Calculate Your Personal Loan Monthly Instalment in Singapore

Banks advertise personal loans at 1.6% p.a. — but you'll actually pay closer to 3%. Before you sign anything, here's how to calculate what your loan really costs each month. In this video, we break down exactly how personal loan monthly instalments work in Singapore — including the trap most borrowers miss. ⏱️ What you'll learn: ✅ What a monthly instalment (EMI) actually is — and how it's calculated ✅ Flat rate vs EIR: why the advertised rate is never the real rate ✅ Why EIR is roughly 1.7–1.9× the flat rate (and what that means for you) ✅ A real worked example: S$20,000 over 3 years — what you actually pay ✅ The 30% rule — how to know if a loan fits your budget before you apply 💡 Pro tip: A 3.5% flat rate sounds manageable — but the true EIR can be as high as 6.5%. Always compare loans using EIR, not the advertised flat rate. 🔗 Compare the best personal loans in Singapore: https://www.moneysmart.sg/personal-lo... 🔗 Read more on what EIR is in Personal Loan: https://www.moneysmart.sg/personal-lo... #PersonalLoanSingapore #EMI #LoanCalculator #MoneySmart #MoneySmartSingapore #PersonalFinanceSG #SingaporeFinance