Loan & Interest Calculator

Work out your real monthly instalment on a commercial vehicle loan — using the same flat-rate method banks and dealers quote — and see the effective interest rate (EIR) behind the headline number. Formula cross-checked against sgCarMart’s own Car Loan Instalment Calculator.

🚛 Vehicle & loan

Default 2.99% reflects Maybank’s published rate for new commercial vehicles. Rates vary by lender, vehicle type and credit profile — see the comparison table below.

💰 Fees & balloon (optional)

Leave at 0 for a standard fully-amortising loan. A balloon lowers your monthly instalment but leaves a lump sum owing when the tenure ends — common in some leasing structures.

S$0Monthly instalment
S$0Balloon payment due at end of tenure
0%Estimated effective interest rate (EIR)
Amount
Loan amount financedS$0
Total flat-rate interestS$0
Processing feeS$0
Total repayment (incl. balloon)S$0
Monthly instalment uses the flat-rate method: interest = principal × rate × years, spread evenly over the tenure — the same method sgCarMart’s Car Loan Calculator uses. EIR is derived by solving the reducing-balance annuity for the rate that produces this same monthly instalment, annualised the way ABS’s own worked example is (2.6% flat over 5 years ≈ 5.09% EIR). Excludes GST, which applies to the vehicle price and most dealer fees but not to loan interest itself.

Commercial vehicle loan rates by lender

Published flat rates as tracked by sgCarMart, last updated 14 Jul 2025. Use these as a starting benchmark when a dealer quotes you a package — always confirm the current rate and EIR in writing.

LenderNew commercial vehiclesUsed commercial vehicles
Maybank2.99%3.28%
UOB3.28%3.40%
Hong Leong FinanceN.A.3.28%
Read the full guide: flat rate vs EIR, processing fees, balloon payments and GST →
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