Singapore credit cards typically charge 26.9% effective interest rate (EIR). Enter your balances and monthly budget to see exactly how much each strategy costs — and when you'll be debt-free.
Take three common Singapore debts: S$4,000 credit card at 26.9% EIR (S$120 min), S$2,000 instalment plan at 20% EIR (S$60 min), and S$8,000 personal loan at 8% EIR (S$160 min). With S$500/month and the avalanche method, you clear the 26.9% card first — saving roughly S$480 in interest versus snowball over the payoff period.
Both strategies start the same: pay the minimum on every debt each month. The difference is where any remaining budget goes.
Avalanche piles the surplus onto the highest-rate debt. In Singapore, credit cards charge ~26.9% EIR — clearing these first is especially impactful. The avalanche always minimises total interest paid.
Snowball piles the surplus onto the smallest balance. This builds momentum through quick wins, but if that small debt has a lower EIR than your card, you leave expensive debt compounding.
MAS mandates disclosure of the Effective Interest Rate (EIR), which includes all fees. This calculator uses the EIR you enter as the APR. For maximum accuracy, enter the EIR from your card statement — not the advertised "flat rate."
For the full math and behavioral research, see our guide to the debt avalanche method.
Both methods pay minimums on all debts, then direct extra budget at one target. Snowball targets the smallest balance first; avalanche targets the highest APR/EIR first to minimise total interest.
Avalanche is always mathematically optimal — it minimises the rate at which interest accrues across your portfolio.
Research suggests many people stick better with the snowball because eliminating individual debts provides visible progress. Choose whichever method you'll actually follow through on.
MAS regulations require minimum payments of at least 3% of the outstanding balance or S$50, whichever is higher. Even an extra S$100/month on your highest-rate debt can dramatically cut your timeline.
Singapore credit cards typically charge around 26.9% EIR. MAS mandates disclosure of EIR, which includes all fees. Personal loans from banks run 6–13% EIR. Licensed moneylenders are capped at 4% per month (EIR ~48%) — always borrow from MAS-licensed institutions. Check your statement for the exact EIR.
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