COE Loan Calculator Singapore: Repayments, Fees and EIR

Turn a written COE funding quote into monthly repayments, interest plus fees, and cash needed. The loan total covers debt payments and fees. Full funding cash also includes your own contribution.

Defaults are a hypothetical example, not current lender rates or approval terms. Use this for a COE renewal or an isolated COE component. If COE is already included in your financed car purchase price, do not add a second COE loan to the same cost model.

Funding and repayment terms

100% means no loan; then enter zero loan fees. This input does not establish the permitted financing percentage.
Use the contract term in whole months, such as 1.5 years for 18 months. The 10-year ceiling is a model bound, not a lending rule.
For renewal, enter the renewed period. This checks timing; it does not change the contracted repayments.
For an effective-rate quote, enter the rate before the separate fees below. If its EIR already includes fees, use the actual repayment schedule instead of adding fees again.
Paid separately at the start; not financed or included in COE amount. Include compulsory borrowing charges once.

Worked example

The default S$100,000 COE amount has S$20,000 cash contribution and S$80,000 borrowed. At 2.88% flat for five years, interest is S$80,000 × 2.88% × 5 = S$11,520.00. Repayments total S$91,520 over 60 months: S$1,525.33 per month before lender rounding.

Add S$500 upfront loan fees. Loan repayments plus fees are S$92,020.00; full funding cash including the S$20,000 contribution is S$112,020.00. Initial cash is S$20,500.00, and financing cost is S$12,020.00. The fee-inclusive annual effective rate is 5.84%.

How the rate calculation works

A flat-rate instalment equals principal × (1 + annual flat rate × years) ÷ months. For reducing-balance loans, annual effective input converts to monthly rate as (1 + annual rate)1/12 − 1; nominal annual input divides by 12. Rates in those formulas are decimals.

The EIR output solves a cash-flow equation: principal minus upfront fees equals the present value of all monthly instalments. Annual EIR is (1 + solved monthly rate)12 − 1. Both fees and repayment timing affect it, so a fixed multiplier of the flat rate is unreliable. See the matched loan-quote comparison.

Check the COE period and exit

LTA renewal uses the applicable Prevailing Quota Premium. A five-year renewal costs half that PQP, rounded up to the next dollar; for Category A and B cars, that five-year renewal can only be used once, followed by deregistration at expiry. A ten-year renewal uses the full PQP. Check the vehicle's category, lifespan rules and actual expiry through LTA's renewal guidance.

If the entered loan runs beyond the COE period, the calculator keeps the full contractual repayment cost and flags the timing mismatch. Obtain a settlement quote for expiry or planned sale. Do not assume another renewal, resale value or COE rebate will pay off the loan.

What this model leaves out

It assumes a fixed rate, equal monthly payments starting one month after funding, no balloon, and fees paid upfront. It uses unrounded instalments until displaying results; lender rounding or a final adjusted payment can differ. Financed fees, irregular repayments, promotional rebates and early settlement need the lender's schedule.

Full COE funding cash is a financing view, not the car's ownership cost. Add vehicle value loss, road tax, insurance, maintenance, parking and energy in the affordability stress test. For an early exit, use the settlement decision guide and the renew-versus-replace cost comparison.

FAQ

Which rate definition should I select?

Use the definition in the written quote. Flat interest is charged on original principal. Annual effective uses a compounded annual rate; nominal monthly-rest divides the annual rate by 12. Ask the lender to clarify an ambiguous APR or EIR label.

Are fees included in the effective rate?

Yes. The model treats entered loan fees as paid upfront and solves the monthly repayment rate against principal less those fees. It compounds that monthly rate over 12 months to report annual effective interest.

Should the loan term equal my planned holding period?

Enter the contractual repayment term. If you plan to sell or deregister earlier, obtain a dated settlement quote. Full-term repayments here do not estimate early-redemption rebates or charges.

Does a calculated result mean this loan is available?

No. The calculator does not assess lender approval, downpayment requirements or product eligibility. Its term range is a modelling limit. Check the actual COE expiry date and written lending conditions.

References

Last updated: 2 Oct 2026 · Editorial Policy · Advertising Disclosure · Corrections