Apply for Car Loan Online in Singapore

Apply for POSB Car Loan Online

Features & Benefits

Choice of loan tenor from 1 year to 7 years.

Loan amount is pegged to the Open Market Value (OMV)

Open market value^#	Maximum Finance Amount
≤ S$20,000	70% of the purchase price or valuation price, whichever is lower
> S$20,000	60% of the purchase price or valuation price, whichever is lower

Tips for Used Car

It is recommended that you do not transfer the car under your name prior to loan approval.

Loan is only available for vehicles which are not more than 10 years old from the original date of registration.

The open market value (OMV) of a used motor vehicle will be adjusted in accordance with its age, for the purpose of determining the appropriate loan-to-value (LTV) ratio allowable under the financing restrictions. A straight-line depreciation will be adopted in the value of the original OMV over 10 years (120 months) to derive an "applicable OMV" for purpose of determining the appropriate LTV ratio.

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New feature! - Enjoy less hassle and skip the need to provide income documents when you retrieve your personal information via Singpass.

Looking for assistance with car loans? Try using our digibot for help:Step 1 – Click on the digibot button

on the bottom right-hand cornerStep 2 – Input keyword “car” to get your queries answered!Click here to learn more!

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Save more when you finance your car loan with us!

Car Loan Calculators

Maximum Loan Amount

Calculate the maximum amount you can borrow.

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Monthly Payment Instalment

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The calculators are intended to be used for illustrative purposes only. The Bank accepts no liability for errors or omissions, nor for any loss arising from us of or reliance on this calculation herein.

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