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What are the loan interest rates in 2021?

Published by Handy Work on

Loan bank
Loan bank

In Singapore, interest rates for personal or consumer loans vary depending on the amount of loan you are applying for. Interest rates will change depending on your credit profile and how much the lender is willing to lend you. The lowest interest rate offered by banks and financial institutions in Singapore is 3.99% p.a. while the highest interest rate offered by various lenders is over 20% p.a..

As for Malaysia, interest rates for personal or consumer loans also vary depending on your credit profile and how much the lender is willing to lend you. The lowest interest rate offered by banks and financial institutions in Malaysia is 8% p.a., while the highest is 25% p.a.. Interest rates also varies depending on which bank you choose to apply from – this also applies to Singaporeans who are looking to apply from banks outside Singapore.

This means that a borrower can get lower or higher interest rate if he chooses a different bank instead of his usual bank when applying for a loan from a different country (e.g Malaysian borrower applying from Indonesia or Philippine).

What are the loan rates in Indonesia?

In Indonesia, interest rates for personal consumer loans range from 6-16% p.a. depending on your credit profile and how much the lender is willing to lend you. The lowest interest rate offered by banks and financial institutions in Indonesia is 8% p.a., while the highest interest rate is 16% p.a..

What are the loan rates in Philippines?

In the Philippines, interest rates for personal consumer loans range from 12 to 19% p.a. depending on your credit profile and how much the lender is willing to lend you. The lowest interest rate offered by banks and financial institutions in the Philippines is 12% p.a., while the highest interest rate is 19% p.a.. Interest rates also varies depending on which bank you choose to apply from – this also applies to Singaporeans who are looking to apply from banks outside Singapore.

This means that a borrower can get lower or higher interest rate if he chooses a different bank instead of his usual bank when applying for a loan from a different country (e.g Malaysian borrower applying from Indonesia or Philippine).


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