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 Maybank prices from 1.79% p.a. (Effective Interest Rate 3.29% p.a.) over 12 months and 2.88% p.a. (EIR about 5.4% p.a.) over 36 to 60 months (Maybank, as of October 2026). The trap most people fall into is the other half of the same account: the CreditAble revolving line of credit charges a prevailing 22.9% p.a., accruing daily on whatever you draw, and paying only the minimum keeps it running. The Term Loan is the other way to borrow from the same limit: a lump sum repaid in fixed monthly instalments at a far lower rate. This guide gives 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 cheap for your amount.
Update, 13 October 2026: Maybank's published rate for the CreditAble line is 22.9% a year, not the 19.80% this guide gave, and it has stood since 15 December 2022. Maybank can set it at up to 24.8% when it approves your line, and a missed minimum payment moves it to a 28% default rate. The everyday Maybank loan you apply for is CreditAble, a personal line of credit that doubles as a borrowing facility (Maybank, as of October 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. Drawn on the revolving line, money costs the prevailing 22.9% p.a. until you repay it; taken as a Term Loan, the same amount costs 1.79% to 2.88% p.a., depending on the tenure. The line gives you instant access to cash, and the Term Loan gives you a lump sum with a fixed repayment. 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.
Update, 13 October 2026: the 2.86% (EIR 5.24%) rate this guide gave is no longer listed. Maybank's rate table runs from 1.79% p.a. over 12 months to 2.88% p.a. over 36 to 60 months. For an online application the rates are 1.79% p.a. (EIR 3.29%) over 12 months, 2.68% p.a. (EIR 5.06%) over 24 months, and 2.88% p.a. over 36, 48 or 60 months (EIR 5.46%, 5.45% and 5.42%) (Maybank, as of October 2026). Each 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.
The 1.79% only applies if you repay inside 12 months, which means large instalments; spread the loan over three to five years and you pay 2.88%. Until 31 January 2027, Maybank also pays cashback on Term Loans taken over 36, 48 or 60 months: 0.5% of an approved S$10,000 to S$29,900, 1% of S$30,000 to S$49,900 and 2% from S$50,000, up to S$2,000, for the first 500 successful customers. 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 October 2026). When you convert to a Term Loan, the amount you can lock in is capped at 90% 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 22.9%.
| Item | Detail |
|---|---|
| Term Loan amount | Up to 90% of your available credit limit |
| Credit limit | Up to 4x monthly income |
| Term Loan tenure | 12, 24, 36, 48 or 60 months |
| Term Loan rate | 1.79% p.a. (EIR 3.29%) over 12 months to 2.88% p.a. over 60 months |
| Revolving line rate | Prevailing 22.9% p.a. (28% default rate) |
| Min monthly repayment (line) | 3% of balance or S$30, whichever is higher |
Update, 13 October 2026: Maybank's late payment charge on CreditAble is S$100, not the S$80 this guide gave; its fee schedule has listed S$100 since 15 December 2023. 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 October 2026). Apply for the Term Loan online and Maybank waives its 1% processing fee.
On penalties, the late payment charge is S$100, and a missed minimum payment moves the line from 22.9% to a default rate of 28% a year until you pay three minimums in a row on time. 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 22.9% 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 October 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.
Citizens and PRs apply with Singpass, which pulls your income details from Myinfo into the form. 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 floors, a Maybank CreditAble Term Loan at 1.79% p.a. flat (EIR 3.29%, 12 months only) sits above the other three banks here: CIMB and UOB advertise from 1.00% p.a. and DBS from 1.48% p.a. Those are lowest published rates, and the rate you are offered depends on your credit and income profile, 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 starting figures side by side. Maybank waives its processing fee online, as UOB does on all tenures and CIMB on its longer ones, while DBS adds 1%. The weak point is the revolving line: 22.9% against 1.79% to 2.88% on the Term Loan, 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 1.79% p.a. (EIR 3.29%, 12 months) | Waived online |
| CIMB Personal Loan | From 1.00% p.a. (EIR from 1.94%) | 0% on longer tenures |
| DBS Personal Loan | From 1.48% p.a. (EIR 3.22%) | 1% processing fee |
| UOB Personal Loan | From 1.00% p.a. (EIR from 1.93%) | Waived on all tenures |
The Maybank CreditAble Term Loan is priced from 1.79% p.a. (EIR 3.29% p.a.) over 12 months to 2.88% p.a. over 36 to 60 months, as of October 2026. The revolving CreditAble line of credit charges a far higher prevailing 22.9% p.a. on drawn balances, so borrowing through the Term Loan is the cheaper way to use the same limit.
CreditAble is a revolving personal line of credit that charges interest daily on drawn balances at the prevailing 22.9% p.a. The CreditAble Term Loan converts part of that available limit into fixed monthly instalments over 12 to 60 months at 1.79% to 2.88% 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 October 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.
Maybank waives the Term Loan's 1% processing fee when you apply online, and the S$80 annual fee is waived for the first two years, as of October 2026. The main cost to watch is the S$100 late payment charge and, far larger, the 22.9% 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, so verify current rates against the official sources above before acting. See our full disclaimer.
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