Singapore car loan calculator
Calculate Singapore car financing repayments under MAS loan limits (60%-70% max loan based on OMV), flat interest rates and loan tenures.
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About this tool
Calculate vehicle financing installments and total interest charges in Singapore. Automatically applies Monetary Authority of Singapore (MAS) car loan restrictions: 70% max loan for OMV up to $20,000, 60% max loan for OMV above $20,000, and maximum loan tenure of 7 years (84 months).
How to use it
- 1 Enter total vehicle price including Certificate of Entitlement (COE).
- 2 Enter the car's Open Market Value (OMV) to determine statutory borrowing ceilings.
- 3 Enter the bank flat interest rate (% p.a.) and loan tenure (up to 7 years).
- 4 View your monthly installment, minimum required cash deposit, and effective interest rate (EIR).
Questions
What are the MAS car loan borrowing restrictions in Singapore?
For vehicles with an OMV of $20,000 or less, the maximum loan is 70% with a 30% down payment. For OMV above $20,000, the maximum loan is 60% with a 40% down payment. Maximum tenure is 7 years.
How does flat rate interest differ from effective interest rate (EIR)?
Singapore car loans use flat rates where interest is charged on the original loan amount throughout the entire term. The Effective Interest Rate (EIR) is typically 1.8× to 1.9× higher than the stated flat rate.
Is my data uploaded?
No. This tool runs in your browser, so your text and files never reach our server.
Is this tool free?
Yes. It’s free to use with no sign-up and no limits for normal use.
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