urgent loan

5 Best Banks to Get an Urgent Loan in Singapore 2024

An urgent loan can provide a much-needed lifeline if you find yourself needing urgent cash to tackle immediate expenses or unexpected debt, such as medical emergencies, home renovation costs, car repairs or other bills and finances.

If you need a fast cash loan, it’s always wise to compare what’s on offer with different banks and financial institutions. From personal loans products to other urgent cash loans in Singapore, let’s take a look at your options..

Best Urgent Loan Options in Singapore at a Glance

The best fast cash loans in Singapore are the Standard Chartered Personal Loan, DBS Personal Loan, UOB Personal Loan, HSBC Personal Loan and Citibank Personal Loan. Here’s a review of how they compare against one another.

  Interest Rate Maximum Amount Loan Approval / Funds Disbursement Time Loan Tenure
Standard Chartered CashOne From 3.48% p.a. (6.95% EIR) Subject to the bank’s review 15 minutes Up to 5 years
DBS Personal Loans From 3.88% p.a. (7.56% EIR)
  • Up to 4x monthly income
  • Up to 10x if your annual income exceeds $120,000
Instant 6 months to 5 years
UOB Personal Loan From 3.4% p.a. (6.36% EIR) Subject to the bank’s review Instant 12-60 months
HSBC Urgent Cash Loan
  • From 3.4% p.a. (6.5% EIR) for Premier customers
  • From 4.0% p.a. (7.5% EIR) for others
Subject to the bank’s review Approval in principle within 1 minute Up to 7 years
Citi Quick Cash Loan Tailored for Citi customers during loan application process


Dependent on your credit card’s remaining line of credit 60 seconds N/A


5 Best Urgent Cash Loan Products from Banks with Fast Approval

Banks offer several different kinds of loans in Singapore geared toward borrowers who need fast cash loans. Here are some of the personal loan products offered by banks and other financial institutions with a fast response, cash disbursement and loan application process.

1. Standard Chartered CashOne Personal Loan – Best for Fast Loan Approval and Disbursement

While it’s usually relatively easy to get an urgent loan approved quickly in the city-state, few personal loans in Singapore claim to be able to offer a 15-minute cash disbursement time in the same way that Standard Chartered does.

SC customers can borrow a maximum loan amount of up to four times their monthly income with lower interest rates than what many competitors offer, at 3.48% p.a. You can get your funds disbursed fast to any account in Singapore but will need to meet a minimum annual income threshold of $20,000 for city-state citizens and permanent resident status-holders or $60,000 for foreigners.

Key Features

  • Get urgent cash disbursed within 15 minutes
  • nterest rates from 3.48% p.a. (6.95% EIR)
  • Borrowers can access a loan tenure of up to 5 years
  • Cashback available on two months interest

2. DBS Personal Loan – Best for DBS and POSB Bank Account Customers

DBS offers borrowers who need a big cash loan the chance to access financing worth up to 10x their monthly income for anywhere between 6 months and 5 years, but only if annual income exceeds $120,000 – otherwise your loan amount is limited to 4x your salary. You’ll be able to repay your loan at interest rates starting from 3.88% p.a., though a processing fee cost of 1% also applies.

Instant loan approval is available with UOB, too, but you’ll need either a DBS or POSB deposit account, or an existing Cashline Credit Card to take full advantage of the fast response times DBS offers.

Key Features

  • Borrowers can access 10x their monthly income
  • Fixed loan repayment costs at competitive rates
  • Interest rates start at 3.88% p.a. (7.56% EIR)
  • Loan tenures available from 6 months to 5 years

3. UOB Personal Loan – Best Fast Cash Loan for UOB Bank Customers

Anyone who needs urgent cash should definitely consider a UOB Personal Loan – particularly if you’re already a UOB bank account customer. UOB promises instant loan approval and disbursement of funds for every online application form submitted between 8am and 9pm daily. What’s more, you can get any additional fees waived if you borrow for 24 months or more.

The maximum loan tenure available is 60 months, and you can expect attractive interest rates of as low as 6.36% EIR on longer loans. There’s also a $3,288 money rebate available to all customers and the option to borrow anything from $10,000 upwards, though a minimum annual income of $30,000 is mandatory for every permanent resident applicant.

Key Features

  • Lower interest rates starting from 3.4% p.a. (6.36% EIR)
  • Instant loan approval promise
  • Processing fee waiver on 24–60-month loan tenures
  • $3,288 cash rebate available

4. HSBC Personal Loan – Best Urgent Loan for Foreigners

HSBC is a household name in banking, and a great financial institution to approach for an urgent loan if you’re a foreigner on account of its international reputation and favorable eligibility criteria. In fact, a salaried foreigner will need just a few basic documents, bank statements and an annual income exceeding $30,000 to apply.

HSBC’s best interest rates are reserved exclusively for existing HSBC Premier customers, which means that everyone else must pay slightly high interest rates compared to average, starting from 4% p.a.

Key Features

  • 3.4% p.a. (6.5% EIR) available to HSBC Premier customers
  • Up to $3,000 cashback money promo available
  • Fixed loan repayment costs on loans between 1 and 7 years
  • Superb international reputation

5. Citi Quick Cash – Best Urgent Cash Loan for Citi Bank Customers

Citi Quick Cash functions a little differently to a regular kind of loan agreement. Rather than offering you a fast loan, Citi allows you to convert your existing credit limit on any Citi credit cards into cash in an astonishing 60 seconds, enabling you to draw down an emergency fund as a lump sum as and whenever you need it.

Naturally, this option is the best fit for existing Citi bank account and credit card holders. An interesting alternative to a traditional fast cash loan, it allows you to cover medical emergency costs and other unforeseen expenses quickly, efficiently and with no hidden fees charged for accessing your money.

Key Features

  • Instant disbursement for Citi Deposit Accounts
  • No basic documents or bank statements required
  • Convert your Citi Credit Card available credit limit into cash
  • No hidden fees

young couple managing family budget

Important Things to Consider When Borrowing Fast Cash Loan

Still unsure how to get a fast loan in Singapore? Here are some tips to help you borrow more effectively:

1. Use a Comparison Site like Instant Loan instead of applying to multiple banks

Each time you submit a loan application form, your credit rating will be pulled and assessed by the bank. This goes for every single urgent loans application you submit.

This means its unwise to submit multiple applications at the same time, and a much better strategy to instead compare fast loan options between providers before applying. You can use Instant Loan to do this with ease while keeping your credit score in good shape.

2. Look After Your Credit Score

Poor credit scores can result in loan applications getting rejected. You should try your best to always keep your credit score in good condition.

3. Use your SingPass MyInfo to Get Your Loan Approved Quickly

Most banks tend to offer their customers the option to get their loan approved fast using SingPass MyInfo.

When you apply online using your SingPass, the financial institution you are dealing with can automatically pull pre-verified information about your finances and can therefore grant you a fast cash loan much more quickly.

4. Don’t Forget About Credit Card Limits

Many financial institutions offer credit card customers the ability to convert part of their unused credit limit instantly.

This can help you to access a very viable alternative to a fast cash loan, though you’ll want to double-check the repayment T&Cs dictated by your bank before doing so, just to be sure it’s definitely affordable for you.

5. Double-Check Fast Cash Loan Disbursement Times

All loans come with different jargon terms, rules and regulations attached, and it’s common for customers to confuse approval times with cash disbursement times.

You’ll want to check your financial institutions “cash disbursement lead time” and “deposit account requirements” to get a good idea of when you can expect to receive your funds – and what kinds of accounts are eligible for disbursement.

What If Your Fast Cash Loan Gets Rejected?

Every so often, an urgent loan application might get rejected. There are a number of reasons that this can happen, such as:

  • You have poor credit scores or a poor credit history
  • You do not meet the annual income requirements of the loan
  • Your employment or finances are deemed to be unstable

The good news is that there are plenty of options available to people who need to start borrowing money but have been rejected by one provider. The best next steps, include:

  • Making timely payments on other finances to rebuild your credit score
  • Using Instant Loan to hunt for other urgent loan options with looser eligibility criteria

Get a Fast Cash Loan in Singapore Today

Everyone experiences financial burdens and unexpected expenses from time to time, and often an urgent loan will be the best solution to temporary financial distress and debt. If you need an urgent loan in Singapore, don’t forget the following when taking loans in the city-state:

  • Maintaining a healthy credit score is vital if you want to access financing from banks and financial institutions.
  • Using SingPass MyInfo or being an existing account holder with the bank you are applying to are great ways to apply for an urgent loan that is likely to get approved more quickly.
  • Comparing the market using a loan comparison site is the best way to narrow down the most suitable urgent loans currently available without submitting multiple applications that might affect your credit score.

With Instant Loan, you can retrieve up to three loan quotes from banks in Singapore absolutely free and sign a loan agreement with your preferred provider. Apply for an urgent loan today.

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