A Maybank loan for everyday borrowing in Singapore runs through one product family called CreditAble, and the cheap way to use it is the CreditAble Term Loan, which is advertised from 2.86% p.a. with an Effective Interest Rate from 5.24% p.a. on a fixed instalment plan (Maybank, as of June 2026). The trap most people fall into is the other half of the same account: the CreditAble revolving line of credit charges a prevailing 19.80% p.a. if you draw on it and only pay the minimum, which is close to credit-card territory. The Term Loan exists precisely to lock your drawn amount into a fixed monthly repayment at a far lower rate. This guide gives you the verified 2026 figures: the real EIR, the 12 to 60 month tenures, the 0% online processing fee, the S$80 annual fee and its two-year waiver, every penalty, the income and age rules, and a side-by-side check against DBS, UOB and CIMB so you can see whether Maybank is genuinely cheap for your amount.
Maybank does not sell a standalone consumer instalment loan the way DBS or UOB do. The everyday Maybank loan you apply for is CreditAble, a personal line of credit that doubles as a borrowing facility (Maybank, as of June 2026). Once you hold a CreditAble account you can either draw on the revolving line, where interest accrues daily on the drawn balance, or convert a chunk of your available limit into a CreditAble Term Loan, which fixes that amount into equal monthly instalments at a much lower advertised rate.
That split matters because the two halves price completely differently. Left on the revolving line and paying only the minimum, you are charged the prevailing 19.80% p.a.; moved into a Term Loan, the same money can sit at an advertised 2.86% p.a. The product is built so the line gives you instant access to cash and the Term Loan gives you a cheap, disciplined way to repay it. Most of the value in a Maybank loan is in choosing the Term Loan, not letting a balance ride on the line. If you are weighing this against a plain instalment loan, our comparison of loan structures explains why a fixed repayment usually beats an open-ended balance.
Maybank advertises the CreditAble Term Loan from 2.86% p.a., which works out to an Effective Interest Rate from 5.24% p.a. (Maybank, as of June 2026). The 2.86% is a flat rate: it charges interest on the full original amount across the whole tenure even as you pay the balance down, so the EIR sits well above the headline. The EIR is the only figure worth comparing across banks, because it folds in fees and the repayment schedule to show what the money truly costs.
Maybank has at times run a sharper promotional rate from 1.79% p.a. (EIR from 3.29% p.a.) on the Term Loan, but promotional pricing is dated and capped, so treat the 2.86% published rate as the realistic floor unless a live promotion confirms otherwise on the day you apply. Your actual rate also depends on income, your credit bureau score and existing debt. Before you commit, model the monthly instalment and total interest against your take-home pay with our personal budget calculator so the new repayment does not crowd out your fixed costs. The mechanics of why a flat rate and an EIR diverge so much are unpacked in our guide to low-interest personal loans.
Your CreditAble credit limit is set at up to 4 times your monthly income, and a Term Loan draws from that available limit (Maybank, as of June 2026). The minimum credit amount is S$10,000, so CreditAble is aimed at mid-sized borrowing rather than a few hundred dollars; for very small sums a different bank's instalment loan may suit better. When you convert to a Term Loan, the amount you can lock in is capped at a percentage of your available credit limit at the time of processing, so the exact ceiling depends on how much of your line is already drawn.
Term Loan tenure runs 12, 24, 36, 48 or 60 months. A longer tenure cuts the monthly instalment but raises the total interest paid, because flat interest accrues on the original principal every month of the term. The revolving line, if you stay on it instead, has no fixed end date and only requires a minimum monthly repayment of 3% of the current balance or S$30, whichever is higher, which is exactly how balances linger for years at 19.80%.
| Item | Detail |
|---|---|
| Minimum credit amount | S$10,000 |
| Credit limit | Up to 4x monthly income |
| Term Loan tenure | 12, 24, 36, 48 or 60 months |
| Term Loan advertised rate | From 2.86% p.a. (EIR from 5.24% p.a.) |
| Revolving line rate | Prevailing 19.80% p.a. |
| Min monthly repayment (line) | 3% of balance or S$30, whichever is higher |
The sticker rate is only part of the cost. CreditAble carries an annual fee of S$80, but Maybank waives it for the first two years, so a borrower who clears a Term Loan inside that window pays no annual fee at all (Maybank, as of June 2026). Apply for the Term Loan online and the processing fee is 0%, which is a genuine saving versus lenders that bolt a 1% to 2% fee onto the principal.
On penalties, the late payment fee is S$80 (or, on the credit-card-linked schedule, 5% of the minimum payment or S$80, whichever is higher). The expensive failure mode is not a fee at all; it is leaving a drawn balance on the revolving line and paying only the minimum, which compounds at 19.80% p.a. and quietly dwarfs any saving on the headline rate. Confirm the live fee schedule and any promotion terms on the day you apply, because annual-fee waivers, processing-fee offers and promotional rates are tied to running campaigns and change. If a late payment has already dented your record, our guide to your credit score in Singapore explains how lenders read that history.
CreditAble is open to Singapore Citizens and Permanent Residents aged 21 to 65 with a minimum annual income of S$30,000 (Maybank, as of June 2026). Unlike some banks that lend to foreigners at a higher income bar, CreditAble in its standard form is positioned for citizens and PRs, so foreigners should confirm eligibility directly before applying. You must hold a CreditAble account to take the Term Loan; if you do not, opening one is part of the same online application flow.
Documents follow the usual Singapore lending checklist: NRIC, your latest computerised payslip or 12 months of CPF contribution history, and your latest Notice of Assessment for self-employed or variable-income applicants. The bank also pulls your credit bureau report, so a clean repayment record on existing cards and loans materially improves both your odds and the rate you are offered.
On the published headline, a Maybank CreditAble Term Loan at 2.86% p.a. flat (EIR from 5.24%) is mid-pack, not the cheapest. Several rivals advertise a lower flat floor on a plain instalment loan, but those floors are best-case rates reserved for higher-income, longer-tenure borrowers, so the right move is to get an actual quote from two or three banks for your exact amount and tenure and compare the EIR, not the headline.
The table below sets the published 2026 starting figures side by side. Where Maybank can win is the structure: the 0% online processing fee and the two-year annual-fee waiver lower the all-in cost, and if you already bank with Maybank the application is faster. Where it loses is the revolving-line rate, which punishes anyone who treats CreditAble like a credit card. For the full picture, see our roundup of the best personal loans in Singapore and the sibling CIMB personal loan breakdown.
| Lender | Advertised flat rate | Processing fee |
|---|---|---|
| Maybank CreditAble Term Loan | From 2.86% p.a. (EIR from 5.24%) | 0% online |
| CIMB Personal Loan | From 1.00% p.a. (EIR from 1.94%) | 0% on longer tenures |
| DBS Personal Loan | From around 3.88% p.a. flat | 1% processing fee |
| UOB Personal Loan | From around 3.40% p.a. flat | 1% processing fee |
The Maybank CreditAble Term Loan is advertised from 2.86% p.a., which is an Effective Interest Rate from 5.24% p.a., as of June 2026. The revolving CreditAble line of credit charges a far higher prevailing 19.80% p.a. on drawn balances, so moving money into the Term Loan is the cheap option.
CreditAble is a revolving personal line of credit that charges interest daily on drawn balances at the prevailing 19.80% p.a. The CreditAble Term Loan converts part of that available limit into fixed monthly instalments over 12 to 60 months at an advertised 2.86% p.a., which is dramatically cheaper if you intend to repay over time.
You need a minimum annual income of S$30,000 and must be a Singapore Citizen or Permanent Resident aged 21 to 65, as of June 2026. Your credit limit is set at up to four times your monthly income, and the bank checks your credit bureau report, so existing debt and repayment history affect both approval and the rate offered.
The Term Loan has a 0% processing fee when you apply online, and the S$80 annual fee is waived for the first two years, as of June 2026. The main cost to watch is the late payment fee of S$80 and, far larger, the 19.80% p.a. charged on any balance left sitting on the revolving line.
This is general financial information for Singapore, not personal financial advice. Figures change — verify current rates against the official sources above before acting. See our full disclaimer.