Yes, most personal loans offered by banks in Singapore do include an EIR. An EIR, or effective interest rate, is meant to reflect the true cost of taking a loan in Singapore. When you take a personal loan from a bank, there are often other costs in addition to the base interest rate, such as the administration fee that a bank may charge. EIR (effective interest rate) is much more complicated as it also takes into account any processing fees plus your repayment schedule.