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What are the Loan Interest Rate Caps in 2021?

Published by Handy Work on

Loan interest rate
Loan interest rate

As mentioned above, interest rates offered by banks and financial institutions in Singapore varies depending on your credit profile and how much the lender is willing to lend you.

For borrowers who have a good credit score and there is no need for collateral (i.e no additional security) from a borrower, interest rates usually range from 3.99% p.a. to 20% p.a.. For borrowers who have a good credit score but need additional security (e.g pledge an asset) from a borrower, interest rates usually range from 4.99% p.a. to 20% p.a..

What are the interest rate caps in Malaysia?

In Malaysia, interest rates for personal consumer loans also varies depending on your credit profile and how much the lender is willing to lend you.

Interest rates for borrowers with no additional security (i.e no collateral) from borrowers usually ranges from 8% p.a., while interest rates for borrowers with additional security (i.e pledge an asset) range from 9% p.a..

What are the interest rate caps in Indonesia?

In Indonesia, there is no cap on the maximum interest rate that financial institutions can charge on personal consumer loans but it must be inside the limits of Bank Indonesia’s guidelines. They usually set it within 13-25%.

The maximum amount of loan that can apply for depends on each bank’s policy as well as each bank’s risk appetite. We also know this as pricing differentiation among banks.

What are the interest rate caps in Philippines?

In the Philippines, there is no cap on the maximum interest rate that financial institutions can charge on personal consumer loans but it must be within the limits of Bangko Sentral ng Pilipinas’ (BSP) guidelines. Interest rates for borrowers with no additional security (i.e no collateral) from borrowers usually ranges from 12% p.a., while interest rates for borrowers who have additional security (i.e pledge an asset) range from 15% p.a…

The maximum amount of loan that can apply depends on each bank’s policy as well as each bank’s risk appetite. People know this as pricing differentiation among banks.


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