A personal loan calculator is a free online tool that helps you estimate your monthly repayments before applying for a personal loan in Singapore.

It uses the following inputs:

• Loan amount: The amount you intend to borrow
• Loan tenure: The number of months you’ll take to repay the loan
• Interest rate: The monthly interest rate charged by the lender

(Licensed money lenders in Singapore can charge up to 4% per month, as regulated by the Ministry of Law)

The calculator will then show you estimated figures for:

• Monthly instalment – How much you’ll need to pay each month
• Total repayment amount – The total sum you’ll repay over the entire loan period, including interest
• Total interest payable – The total amount of interest you’ll pay on top of the principal loan amount

This allows you to better understand your financial commitment before applying, so you can plan your budget with confidence.

To calculate your loan:

1. Enter the amount you wish to borrow
2. Select the loan tenure (in months)
3. Input the monthly interest rate

Your estimated loan breakdown will appear automatically.

Once you’re satisfied with the figures, click ‘Proceed to Application’ to start your loan application online.

The results are estimates based on your input. Your actual loan terms will depend on:

• Final approval by our loan officers
• Your creditworthiness
• Ministry of Law regulations

We’ll provide a confirmed repayment schedule during your in-person verification.

The rate shown is monthly, as required for licensed money lenders in Singapore.

• The maximum allowed interest rate is 4% per month
• You may adjust the rate to match what you expect to be offered

Yes. After reviewing your estimated loan breakdown:

• Click ‘Proceed to Application’
• Submit your details online, you can apply with MyInfo via Singpass in less than 2 minutes
• Receive in-principle approval and complete the process in person at our office/li>

This lets you move seamlessly from planning to application with minimal hassle.

Yes, the Horison Credit personal loan calculator is completely free to use — no sign-up, fees, or credit check required.

It helps you:

• Understand how much you can comfortably borrow
• Compare different repayment scenarios
• Avoid overborrowing or underestimating your monthly payments

This makes your application more informed and realistic.

No, using the calculator has no impact on your credit score. It’s only a planning tool. No personal data or credit check is involved.

The loan amount you’re eligible for depends on your income and whether you’re a Singaporean, PR, or foreigner.

For Singaporeans and PRs:

• You can borrow up to $3,000 if you earn less than $20,000 annually.
• If you earn more than $20,000 annually, you can borrow up to 6 times your monthly income.

For foreigners working in Singapore:

• You can borrow up to $500 if you earn less than $10,000 annually.
• Up to $3,000 if you earn between $10,000 and $20,000 annually.
• Up to 6 times your monthly income if you earn more than $20,000 annually.

At Horison Credit, we’ll also consider your employment type (e.g. Work Permit, S Pass, E Pass), credit history, and existing financial obligations before offering a customised loan package that fits your repayment ability.

You can use our Personal Loan Calculator to get a quick estimate of your monthly instalments based on:

• Loan amount
• Interest rate
• Loan tenure

The calculator gives you a breakdown of your expected monthly payment, helping you budget more confidently.

Keep in mind: actual repayments may vary slightly after your loan is assessed and approved by our officers.