Fill up the quick loan application form and submit.
Wait for the licensed moneylender to contact you (usually within 10mins).
Go down to their office with the address they provided for loan processing.
Personal loans in Singapore are a type of loan from a bank or a moneylender that allows you to borrow a fixed amount of money to be repaid every month. Because banks have strict criteria on its loans, many people turn to moneylenders to apply loans instead.
In Singapore, there is the Registry of Moneylenders that regulates the borrowing of personal loans outside of banks. It is 100% safe, and you can borrow cash quickly, sometimes as quickly as 15 minutes.
If your credit score isn’t good, banks are not going to approve of your Singapore personal loan application. However, moneylenders have high approval rates, so if your bank application gets rejected, it’s not the end of the world. You can apply personal loan with an approved moneylender.
The month term loan is a fixed monthly repayment loan that works similarly to a bank personal loan. You borrow a specific amount of money that you have to repay monthly until the end of the loan tenure.
The payday loan, on the other hand, is a short-term loan that you’ll have to repay on your next payday. This is especially great for getting emergency cash when you most urgently need it.
You can start first by looking for the best Singapore personal loans for your needs. Loan Finder helps you to shop around easily for the lowest interest rates, and it only takes three easy steps! All you have to do is:
|Minimum Period for Repayment||61 Days and above|
|Maximum Period for Repayment||Up to 12 Months|
|Minimum Annual Percentage Rate||From 1.7% per annum|
|Maximum Annual Percentage Rate||Up to 48% per annum on reducing interest rate|
|Total Amount Borrowed||SGD 1000|
|Time Period *||12 Months|
|Interest Rate **||1% Per Month|
|Annual Percentage Rate of Charge (APR) **||12% APR or 1% NIR|
|Total Cost Payable Per Annual *** (excluding loan principle)||SGD 120|
* Time period is from minimum period of 2 months to maximum period of 12 months.
** Interest Rate may vary up to a maximum of 4% per month, depending on loan amount and period of repayment.
*** Total Cost Payable exclude administrative fee. Cost stated is an estimation and may vary due to loan amount, period of loan and other fees such as late fee and late interest rate may be charged in the event of violation on terms & conditions.
Tables above are for illustration purposes only.
Please check with the respective personal loan providers.
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