How do personal bank loans work? Are there certain criteria that needs to be met? Is there a limit to the amount you can borrow?

If you have existing credit card, go for balance transfer loan.

Balance transfer loan means using your existing credit card to take a sum of cash to deposit into your bank account to use.

Usually balance transfer loan are very cheap for the first 6 months (1% to 2% pa for 6months) and will go to 24% after 6months. So roll them if possible every 6months, meaning you pay them off and retake again for 6 months in a day.

As usual, the foreign banks are the one offering the best rates, such as Standard Chartered bank, Maybank etc. Call or email them directly.
SC 6mths balance transfer has always been 1% processing fee + 0% interest.

You can give them your email and contact number to [email protected]

Typically, banks require annual incomes of at least S$20,000 - S$30,000. In some cases, banks require that foreigners earn at least S$40,000. Loans are generally limited to 4x your monthly income (max. S$100,000) or 8x for high-income individuals (S$120K annual salary). Our guide should help you compare the best rates and determine your eligibility.