Anúncios
Looking for the lowest interest credit card Singapore is a smart decision. Today, Singapore offers a variety of advantages, but the real cost of credit is the crucial factor that defines the economy as the main service.
The reality is that interest rates in Singapore are between 23% and 30% per year, which makes the analysis of effective annual rates fundamental. Therefore, when considering which is the lowest interest credit card Singapore, we must go beyond the nominal interest and understand the complete package of fees, annual fee waivers, and associated benefits.
In this article, we detail the main market options available, focusing exclusively on comparing the options to help you make the best, well-informed choice. Let’s go!
Detailed Analysis of Lowest Interest Credit Card Singapore
1. Standard Chartered Smart Credit Card
This card is an interesting option, as it has no annual fee for the main card. This is a differential that contributes to its positioning as the lowest interest credit card Singapore in the fixed zero-cost category.
Anúncios
Its effective annual rate (EIR) ranges from 23.9% to 29.9% per year, being the lowest initial rate among the options analyzed. Reinforcing the attraction for those who may occasionally incur a revolving balance.
Furthermore, this card offers the following benefits:
- 6% cashback in points on fast food, cafes, digital subscriptions, and public transport;
- Possibility of installment payment in 3 months with 0% interest.
The SC EasyBill program also allows converting utility bills, such as water and energy, into installments, and there is free travel insurance with coverage of up to S$500,000 when the ticket is paid in full with the card.
2. UOB One Card (Lowest Interest Credit Card Singapore)
The UOB One Card, issued by United Overseas Bank (UOB), founded in 1935, charges an interest rate of 27.8% per year, with a late payment penalty of S$100.
The standard annual fee is S$196.20, but the first year has a waiver, and the grace period for payment is 21 days.
This card draws attention for its aggressive cashback, offering up to 10% on Grab, McDonald’s, SimplyGo, and Shopee, and up to 8% in supermarkets and convenience stores.
In addition, it provides 4.33% cashback on SP Group electricity bills.
The card also stands out for offering 20% discounts on fuel via Shell/Caltex and includes free travel insurance that extends to the spouse and children of the holder.
3. Maybank Family & Friends Card
The Maybank Family & Friends Card, from Malayan Banking Berhad (Malaysia’s largest bank), operates with interest of 27.9% per year and an interest-free period of 20 days, similar to market rates for the lowest interest credit card Singapore.
Its annual fee of S$196.20 is waived for the first three years, and the waiver can become permanent with an annual spend of 18,000 or more.
The monthly cashback limit is fixed at S$125 for qualified expenses.
Other advantages include free supplementary cards, purchase protection, extended warranty, and fuel discounts at networks such as Esso and Caltex.
4. HSBC Revolution Card (Lowest Interest Credit Card Singapore)
The HSBC Revolution Card is one of the few options on the market that offers a lifetime annual fee waiver without the need to reach a minimum spend. Therefore, it is among the lowest interest credit card Singapore in terms of maintenance cost.
By the way, if your focus is on options without an annual fee, then we recommend that you check out the Singapore credit card no foreign fee.
The interest rate is 26.9% per year, with a 20-day interest-free period, which is in the lower range of standard Singapore rates.
The main differential of this HSBC card is the rewards system, offering 10x Reward Points on online purchases, meals, entertainment, and transport.
5. DCS Ultimate Platinum Mastercard
The DCS Ultimate Platinum Mastercard, issued by DCS Card Centre (formerly Diners Club Singapore), has an interest rate of 27.8% per year for purchases and 29% per year for cash advances.
However, if the minimum payment is not made, the rate can rise to 30% on purchases and 32% on cash advances.
The first year of the S$196.30 annual fee is free, with a grace period of approximately 20 days. This card stands out for its 2% cashback on all transactions, without requiring a minimum monthly spend, although there is a limit of S$200 per month.
6. UOB PRVI Miles Visa Card
The UOB PRVI Miles Visa Card is another alternative for those looking for an option designed for travel, although with a higher annual fee of S$261.60, waived in the first year.
In addition, travelers benefit from 4 free lounge accesses per year with Priority Pass and free travel insurance when purchasing tickets.
A point of attention is that accumulated miles are valid for 2 years, allowing for long-term travel planning, and the conversion of points to miles is done with a fee of S$25 per conversion.
7. DBS Live Fresh Card
The DBS Live Fresh Card, from DBS Bank, the largest bank in Southeast Asia, has an interest rate of 27.8% per year and an interest-free period of 25 days. The longest among the analyzed cards, along with the POSB Everyday and Citi Cash Back+.
The annual fee of S$196.20 is waived in the first year, and the card offers 5 years of waiver, which places it among the low-maintenance options. Cashback works as follows:
- 6% on online purchases and contactless payments;
- “Green” cashback of 5% in eco-friendly stores and restaurants and sustainable transport.
The card is compatible with digital wallets and offers security tools via the app to block or unblock the card and control limits.
8. Citi Cash Back+ Card (Lowest Interest Credit Card Singapore)
The Citi Cash Back+ Card, from Citibank, offers an interest rate of 27.9% per year, with a promotional rate of 21.9%.
Like others, the rate can rise to 30.9% in case of default.
It has an interest-free period of 25 days and the annual fee of S$196.20 is also waived in the first year. The main attraction of this card is the unlimited cashback of 1.6% on almost all expenses, limited to S$1,650.00.
Comparison of Interest and Fees of Main Cards
| Card/Issuer | Annual Fee (standard) | Effective Annual Rate (EIR) | Payment Term (Days) |
| Standard Chartered Smart Credit Card | None (lifetime) | 23.9% – 29.9% p.a. | Approx. 20 |
| UOB One Card | S$196.20 (waived 1st year) | 27.8% p.a. | 21 |
| Maybank Family & Friends Card | S$196.20 (waived 3 years) | 27.9% p.a. | 20 |
| HSBC Revolution Card | No annual fee (lifetime) | 26.9% p.a. | 20 |
| HSBC TravelOne Card | S$196.20 (waived if spent ≥ S$25,000) | 26.9% p.a. | 20 |
| DCS Ultimate Platinum Mastercard | S$196.20 (1st year free) | 27.8% p.a. (purchases) | Approx. 20 |
| UOB PRVI Miles Visa Card | S$261.60 (waived 1st year) | 27.8% p.a. (purchases) | 21 |
| American Express Singapore Airlines KrisFlyer Ascend | S$397.85 (no waiver) | 27.8% p.a. (purchases) | 25 |
| DBS Live Fresh Card | S$196.20 (waived 1st year) | 27.8% p.a. | 25 |
| POSB Everyday Card | S$196.20 (waived 1st year) | 27.8% p.a. | 25 |
| Citi Cash Back+ Card | S$196.20 (waived 1st year) | 27.9% p.a. (21.9% promotional) | 25 |
Conclusion
Concluding the search for the lowest interest credit card Singapore means understanding that the ideal balance between interest and rewards goes beyond percentage rates.
The benefit lies in aligning the cost of credit with your consumption profile and payment capacity.
Although the difference between 23% and 30% per year may seem small, it represents a real impact on the budget, especially for those who use credit frequently.
However, the choice should always prioritize financial sustainability, avoiding revolving debt and taking advantage of waiver periods.
In summary, the best card is the one that offers the maximum advantages with the lowest effective cost, ensuring control and convenience in daily life.