Singapore on-time loan repayments in 2025 hit post-COVID record high

It has jumped to 86%, when it hovered around 36% to 65% in 2020-2024.

Singaporeans have hit a record-high on loan repayments in the post-pandemic period, with 86% on-time repayments in 2025, according to data from IFS Capital Group.

This is much higher than the 65% in 2024. On-time loan repayments hovered between 51% to 65% between 2020 to 2024 except in 2022, when it plunged to 36%, based on data from the Friday Finance database.

Taken together, data suggests that there are general improvements in the overall consumer credit profiles in Singapore, both in the bankable and underserved segments, where repayment behaviour and delinquency rates remain within acceptable norms, IFS Capital Group said.

Despite the improvement in repayments, debt consolidation remains the most common loan purpose amongst underserved borrowers, with 26% indicating such.

“The persistence of debt consolidation as the primary loan purpose (20-26%) is strongly linked to credit card rollover balances, which have been rising since 2022 and reached a record S$9.07 billion in late 2025,” IFS Capital Group said.

Income advance (12%), medical reasons (7%), self-improvement (6%), and business expansion (5%) were the key reasons for borrowing in Singapore.