Singapore car loan calculator (MAS rules)
Calculate Singapore car financing repayments under MAS loan limits (60%-70% max loan based on OMV) and flat interest rates. Free calculator.
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About this tool
Calculate car finance installments in Singapore under Monetary Authority of Singapore borrowing limits and flat vehicle loan interest rates.
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 is the maximum car loan term in Singapore?
Under MAS vehicle financing regulations, the maximum car loan tenure is 7 years (84 months).
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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