Top 10 Online Loan Apps in Singapore

Picture this: It’s a humid Tuesday evening in Singapore, and I’m sprawled on my couch in my HDB flat, scrolling through my phone. My air-con decides to throw a tantrum—right in the middle of a heatwave. The repair guy’s quote? A cool S$800. My savings account laughs in my face. Sound familiar? We’ve all been hit with those unexpected expenses that make you wonder if the universe is testing your budgeting skills. That’s when online loan apps swoop in like financial superheroes, promising quick cash without the hassle of bank queues or endless paperwork. But with so many apps out there, how do you pick the right one? Don’t worry—I’ve done the legwork for you. Here’s my take on the top 10 online loan apps in Singapore for 2025, sprinkled with some personal stories, a dash of humor, and practical tips to help you borrow smart.

Why Online Loan Apps Are a Game-Changer

Let’s be real: nobody wakes up thinking, “Wow, I can’t wait to apply for a loan today!” But life happens—car repairs, medical bills, or that impulsive GrabFood binge that got out of hand (guilty). Online loan apps have become insanely popular in Singapore because they’re fast, convenient, and don’t require you to dress up for a bank appointment. You can apply in your pajamas, get approved in minutes, and have cash in your account faster than you can say “lah.”

Back in 2023, I needed a quick loan to cover a last-minute flight to Kuala Lumpur for a family emergency. I was skeptical about online lenders—would they scam me? Charge me an arm and a leg? But I took a chance on one of these apps, and the process was smoother than a morning MRT ride. That experience taught me that these apps can be lifesavers, but only if you choose wisely. So, what makes a loan app worth your time? I looked at interest rates, approval speed, user experience, regulatory compliance, and customer reviews to rank the top 10. Let’s dive in.

Criteria for Picking the Best Loan Apps

Before we get to the juicy list, here’s how I judged these apps. Interest rates and fees are the big ones—nobody wants to pay more than they have to. Approval and disbursement speed matter when you’re in a pinch. Eligibility requirements, like minimum income or credit score, can make or break your application. User experience is huge—nobody has time for a clunky app that crashes mid-application. And of course, regulatory compliance is non-negotiable. In Singapore, legit lenders are licensed by the Ministry of Law’s Registry of Moneylenders or regulated by the Monetary Authority of Singapore (MAS). I also peeked at user reviews to see what real people are saying. Ready? Let’s meet the top 10.

The Top 10 Online Loan Apps in Singapore for 2025

1. CashOne by Standard Chartered

Overview: Standard Chartered’s CashOne is like the dependable uncle of loan apps—reliable, established, and surprisingly quick. It’s a bank-backed option, so you know it’s legit.
Key Features: Interest rates start at 1.90% p.a. (EIR from 3.63% p.a.), with loan amounts up to S$250,000 for high earners. Approval can take as little as 15 minutes, and funds hit your account almost instantly.
Pros: Low interest rates, fast disbursement, no processing fees for some promotions.
Cons: S$199 first-year annual fee, higher income requirements (S$30,000 annually).
Best For: Big loans for renovations or debt consolidation.

I used CashOne for that KL trip I mentioned. The application was a breeze—I uploaded my payslip, NRIC, and a selfie, and boom, approved in 20 minutes. The S$199 fee stung a bit, but the low interest rate made it worth it. If you’re borrowing a larger amount, this fee becomes less of a burden.

2. Trust Instant Loan

Overview: Trust Bank’s app is like that cool new café in Orchard—modern, user-friendly, and everyone’s talking about it.
Key Features: Interest rates from 2.49% p.a. (EIR 4.72% p.a.), loans up to 4x your monthly salary, and no processing or annual fees. Approval is near-instant for Singaporeans and PRs.
Pros: Affordable rates, no hidden fees, foreigner-friendly (S$60,000 income requirement).
Cons: Early repayment fee of 3% on remaining loan.
Best For: Salaried workers needing quick cash.

I haven’t personally used Trust, but my colleague, Priya, swears by it. She borrowed S$5,000 to fix her car and loved how the app broke down the repayment schedule. “It felt like the app was holding my hand,” she said. If you value transparency, Trust is a solid pick.

3. UOB Personal Loan

Overview: UOB’s loan app is like your favorite hawker stall—consistent and always there when you need it.
Key Features: Rates from 2.88% p.a. (EIR 5.43% p.a.), loans up to 95% of your credit card limit, and instant approval for existing UOB customers.
Pros: No processing fees, flexible tenures (12-60 months).
Cons: Only for UOB cardholders or CashPlus customers, S$30,000 minimum income.
Best For: Existing UOB customers.

My cousin, Jason, used UOB’s app for a S$10,000 loan to start his side hustle. He was approved in an hour, but he grumbled about needing a UOB credit card first. If you’re already in the UOB ecosystem, this is a no-brainer.

4. DBS Personal Loan

Overview: DBS is the heavyweight champion of Singapore banking, and its loan app doesn’t disappoint.
Key Features: Rates from 1.99% p.a. (EIR 4.17% p.a.), loans up to 10x your monthly income (capped at S$200,000), and approval in 60 seconds.
Pros: Super low rates for high earners, fast approval, trusted brand.
Cons: 1% processing fee, stricter credit checks.
Best For: High-income borrowers.

DBS saved my bacon when I needed to pay for a medical procedure last year. The app was so slick I felt like I was shopping on Shopee. But heads-up: my friend with a so-so credit score got rejected, so keep your finances tidy.

5. ROSHI

Overview: ROSHI isn’t a lender but a loan matchmaking platform, like the Tinder of quick cash.
Key Features: Connects you with licensed moneylenders offering rates from 1-4% per month, loans up to 6x your salary, and approval in as little as an hour.
Pros: Great for low credit scores, compares multiple offers, user-friendly.
Cons: Higher interest rates than banks, shorter tenures (1-6 months).
Best For: Urgent, short-term loans.

I recommended ROSHI to my neighbor, Ahmad, who needed S$2,000 for a dental emergency. He loved how it showed him three offers to pick from, but the 4% monthly rate was steep. Perfect for small, short-term fixes.

6. Friday Finance

Overview: A licensed moneylender with a modern app, Friday Finance is like that hip new bar in Clarke Quay—flashy but legit.
Key Features: Rates from 1.8% per month, loans up to 6x your monthly income, and instant approval.
Pros: Flexible repayment, rewards good credit with lower rates.
Cons: Higher rates for poor credit, limited loan amounts for new borrowers.
Best For: Borrowers with solid credit.

I haven’t tried Friday Finance, but my gym buddy, Li Wei, used it to cover his wedding expenses. He said the tiered interest system felt fair, but he wished the app explained the terms better. Check the fine print

7. SingSaver

Overview: Another loan comparison platform, SingSaver is like your savvy friend who knows all the best deals.
Key Features: Compares bank and moneylender loans, rates from 1.90% p.a., and pre-qualification without credit score impact.
Pros: No fees, wide lender network, exclusive promotions.
Cons: Not a direct lender, approval speed depends on the lender.
Best For: Deal hunters.

SingSaver helped me compare loans when I was shopping for my air-con repair loan. The pre-qualification feature was a godsend—no dings on my credit score. It’s like window-shopping for loans.

8. OCBC ExtraCash Loan

Overview: OCBC’s app is like a trusty Grab ride—reliable, but not the flashiest.
Key Features: Rates from 5.43% p.a. (EIR 11.47%), loans up to 6x your salary, and approval in a day.
Pros: Trusted bank, flexible tenures.
Cons: Higher EIR, S$100 processing fee.
Best For: OCBC customers needing medium-sized loans.

My aunt used OCBC for a S$15,000 loan to renovate her kitchen. She liked the straightforward app but wasn’t thrilled about the EIR. If you’re an OCBC loyalist, it’s worth a look.

9. SingFinance

Overview: An online lender with a focus on accessibility, SingFinance is like your friendly neighborhood kopitiam—approachable and no-fuss.
Key Features: Rates from 2% per month, loans up to S$50,000, and approval in hours.
Pros: Flexible eligibility, fast funds.
Cons: Higher rates, shorter tenures.
Best For: Small, urgent loans.

I haven’t used SingFinance, but my barber raved about it for a S$3,000 loan he took for his shop. He said the app was “simple lah,” but the interest rate crept up fast. Good for quick fixes, not long-term borrowing.

10. HSBC Personal Loan

Overview: HSBC’s app is like a business-class flight—premium, but you pay for it.
Key Features: Rates from 2.20% p.a. (EIR 4.22% p.a.), loans up to S$200,000, and approval in a day.
Pros: Low EIR, high loan amounts, promotional gifts.
Cons: 1% processing fee, S$30,000 minimum income.
Best For: Big-ticket expenses.

My boss used HSBC for a S$50,000 loan to fund his kid’s overseas education. He got an Apple Watch as a sign-up gift, which he wouldn’t stop showing off. If you’ve got a high income, HSBC’s perks are tempting.

Comparison Table

App Name	Interest Rate (p.a.)	Loan Amount	Approval Time	Min. Income	Tenure Options	Unique Feature
CashOne	1.90% (EIR 3.63%)	Up to S$250,000	15 mins	S$30,000	1-5 years	Instant disbursement
Trust Instant Loan	2.49% (EIR 4.72%)	4x monthly salary	Instant	S$30,000	1-5 years	No processing fees
UOB Personal Loan	2.88% (EIR 5.43%)	95% credit limit	1 hour	S$30,000	1-5 years	Instant for UOB customers
DBS Personal Loan	1.99% (EIR 4.17%)	Up to S$200,000	60 seconds	S$30,000	6 months-5 years	High loan ceiling
ROSHI	1-4% per month	6x monthly salary	1 hour	Varies	1-6 months	Loan matchmaking
Friday Finance	1.8% per month	6x monthly salary	Instant	Varies	1-12 months	Tiered interest rates
SingSaver	From 1.90% p.a.	Varies	Varies	Varies	Varies	Pre-qualification
OCBC ExtraCash	5.43% (EIR 11.47%)	6x monthly salary	1 day	S$30,000	1-5 years	Trusted bank
SingFinance	2% per month	Up to S$50,000	Hours	Varies	1-12 months	Flexible eligibility
HSBC Personal Loan	2.20% (EIR 4.22%)	Up to S$200,000	1 day	S$30,000	1-7 years	Promotional gifts

Tips for Choosing the Right Loan App

So, how do you pick the perfect app? First, figure out how much you need and how fast you need it. For emergencies, ROSHI or Friday Finance are great for quick cash. For bigger loans, DBS or HSBC offer better rates. Compare the Effective Interest Rate (EIR)—it includes fees, unlike the advertised rate. Check for hidden costs like processing or late payment fees. And always, always verify the lender’s license on the Ministry of Law’s website. I learned this the hard way when I almost applied with a shady app that had no physical address. Yikes.

Here’s a quick checklist:

Assess your needs: Emergency or long-term? Small or large amount?
Compare EIRs: Look beyond the shiny “1.9% p.a.” ads.
Read reviews: Google Play or App Store ratings don’t lie.
Check eligibility: Don’t waste time on apps you don’t qualify for.
Borrow responsibly: Only take what you can repay.

Risks and Considerations

Online loan apps are convenient, but they’re not without risks. High interest rates can spiral if you miss payments—trust me, I’ve seen friends get stuck in debt traps. Privacy is another concern; some apps ask for access to your contacts or location, which feels like overstepping. And then there’s the temptation to overborrow. I once considered taking a bigger loan “just in case,” but thankfully, my sister talked me out of it. Stick to what you need, and read the terms like it’s a WhatsApp gossip thread.

The Ministry of Law caps moneylender interest rates at 4% per month, but banks can vary. If your credit score’s shaky, you might face higher rates. And if an app promises “no credit checks,” run—it’s probably a scam. Legit lenders always verify your financials.

My Biggest Loan App Lesson

Here’s a confession: I once borrowed S$1,000 for a “great deal” on a new phone, only to realize I could’ve saved up in a month. The interest wasn’t crazy, but it stung knowing I paid extra for impatience. That taught me to pause and ask, “Do I really need this loan?” Now, I only borrow for true emergencies or planned expenses, like that air-con repair. It’s not about being stingy—it’s about staying in control.

Conclusion

Singapore’s online loan apps are like a buffet—there’s something for everyone, but you’ve gotta choose carefully. Whether you’re a high earner eyeing DBS or CashOne, or someone with a tighter budget leaning toward ROSHI or SingFinance, there’s an app that fits. My advice? Compare, compare, compare. Use platforms like SingSaver to shop around, check reviews, and never skip the fine print. Borrowing doesn’t have to be stressful if you do it smart.

Got a loan app story of your own? Or maybe you’re eyeing one of these apps? Drop a comment or chat with a financial advisor to make sure you’re on the right track. Now, go fix that air-con or tackle that emergency bill—you’ve got this. And if you need me, I’ll be over here, praying my appliances behave.