Car Loan Rates Singapore 2025
Compare the best car loan rates in Singapore. Find competitive auto financing for new and used cars from major banks with flexible tenure options.
New & Used Cars
From 2.78% p.a.
Up to 7 Years
Car Loan Calculator
$100,000
5 years
Compare Car Loan Rates
| Bank | New Car Rate | Monthly Payment* | Max Tenure | Processing Fee |
|---|---|---|---|---|
DBS | 2.78% p.a. | $1,787 per month | 7 years | S$200 |
OCBC | 2.88% p.a. | $1,792 per month | 7 years | S$168 |
UOB | 2.98% p.a. | $1,796 per month | 7 years | S$188 |
HSBC | 3.18% p.a. | $1,805 per month | 7 years | S$250 |
Standard Chartered | 3.08% p.a. | $1,800 per month | 7 years | S$200 |
Maybank | 3.28% p.a. | $1,809 per month | 7 years | S$168 |
* Monthly payment calculated based on your selected loan amount ($100,000) and tenure (5 years)
Detailed Bank Comparison
DBS
New Car: 2.78% p.a.
Used Car: 3.28% p.a.
Max Loan Amount
$800,000
Key Features
- Quick approval
- Flexible repayment
- No prepayment penalty after 3 years
Fees & Charges
Processing Fee:S$200
Early Repayment:1.5% or S$500, whichever higher
Max Tenure:7 years
OCBC
New Car: 2.88% p.a.
Used Car: 3.38% p.a.
Max Loan Amount
$1,000,000
Key Features
- Online application
- Same-day approval
- Free insurance quotation
Fees & Charges
Processing Fee:S$168
Early Repayment:1.5% of outstanding amount
Max Tenure:7 years
UOB
New Car: 2.98% p.a.
Used Car: 3.48% p.a.
Max Loan Amount
$800,000
Key Features
- Preferential rates for UNI$ cardholders
- Flexible payment dates
- Online account management
Fees & Charges
Processing Fee:S$188
Early Repayment:1.5% of outstanding principal
Max Tenure:7 years
HSBC
New Car: 3.18% p.a.
Used Car: 3.68% p.a.
Max Loan Amount
$750,000
Key Features
- Premier customer privileges
- Insurance advisory service
- Global customer support
Fees & Charges
Processing Fee:S$250
Early Repayment:2% of outstanding principal
Max Tenure:7 years
Standard Chartered
New Car: 3.08% p.a.
Used Car: 3.58% p.a.
Max Loan Amount
$1,000,000
Key Features
- Priority banking benefits
- Flexible tenure options
- Comprehensive insurance packages
Fees & Charges
Processing Fee:S$200
Early Repayment:1.5% of outstanding amount
Max Tenure:7 years
Maybank
New Car: 3.28% p.a.
Used Car: 3.78% p.a.
Max Loan Amount
$500,000
Key Features
- Islamic financing available
- Loyalty program benefits
- Fast processing
Fees & Charges
Processing Fee:S$168
Early Repayment:1.5% of outstanding balance
Max Tenure:7 years
Car Loan Guide
Factors to Consider
Interest Rate
New cars typically get lower rates than used cars
Loan Tenure
Longer tenure = lower monthly payments but more interest
Down Payment
Higher down payment reduces loan amount and interest
Processing Fees
Compare total cost including all fees and charges
Required Documents
- • NRIC and valid driving license
- • Latest 3 months' payslips
- • Latest CPF contribution history
- • Bank statements (3-6 months)
- • Income tax return (if self-employed)
- • Vehicle quotation or sales agreement
- • Insurance quotation
Application Tips
- • Shop around and compare multiple offers
- • Check your credit score beforehand
- • Negotiate interest rates with your bank
- • Consider total cost, not just interest rate
- • Read terms and conditions carefully
Ready to Finance Your Car?
Compare rates from multiple banks and choose the best car loan for your needs. Start your application process today for quick approval.