Personal Loan Singapore

Applying for a personal loan through a traditional bank presents many restrictions, including stricter eligibility criteria, longer processing times and higher chances of rejection. Your credit score and income weigh heavily on the bank’s decision to offer you a personal loan. 

On the other hand, licensed moneylenders can give you a personal loan with low interest rates, a convenient online application process and more flexibility. At Quick Loan, we welcome applications from anyone aged 18 and above with a minimum income of SGD1,800 and the required documentation according to their citizenship status. 

You can access a quick cash loan for emergencies or secure funds for major expenses like medical bills. 

All licensed moneylenders in Singapore are subject to the Moneylenders Act, ensuring that we adhere to confidentiality laws and have strict limits on interest rates, fees and other charges. You can be sure that all loans and processes at Quick Loan are legal and carefully regulated.

When you apply for a urgent cash loan with licensed moneylenders in Singapore, you can expect a faster personal loan approval process compared to traditional banks. At Quick Loan, you can look forward to accessing your funds within 30 minutes. 

Yes, you can qualify for a instant personal loan as a foreigner in Singapore. All you need to do is ensure that you are a valid Work Permit holder or possess an S Pass or Employment Pass with 6 months of validity.

To apply for a personal loan for foreigners, you must present these with your passport, along with proof of residency, payslips for the last three months, a bank token, your employment contract and your staff card. 

You can take out a personal loan even with an unfavourable credit score. You may have trouble qualifying for a traditional bank loan, where poor credit indicates a high-risk loan candidate. However, licensed moneylenders in Singapore are more lenient with applicants’ credit history. 

At Quick Loan, for example, our requirements for loan applications are minimal and straightforward. If you need cash urgently, legitimate licensed moneylenders like us are an excellent alternative to banks. 

We’ll help you find a loan that works best for your unique situation, such as funds for big-ticket items like education.

The minimum requirements for applying for a personal loan in Singapore depend primarily on your citizenship, income level and age. Quick Loan requires you to be at least 18 years of age with a minimum salary of SGD1,800 to qualify for a online personal loan. 

Singapore banks have stricter eligibility conditions and income level requirements. However, non-bank loan requirements tend to be much more lenient, making licensed moneylenders a reliable alternative if you cannot meet a bank’s prerequisites or require cash on top of what banks have offered you.  

Here at Quick Loan, no collateral or third-party guarantor is needed for your application for a personal loan in Singapore. Unlike Singaporean banks, licensed moneylenders tend to favour personal loans that are flexible and suitable to your needs in terms of repayment.

Yes. Personal loans are meant to cater to a variety of financial needs, from debt consolidation on pending bills, medical emergencies, supporting your renovation works at your new place, or boosting your cash flow at your new business.

At Quick Loan, we aim to customise our personal loans to your requirements, so that everyone gets the best out of their package, whether it may be for that special day with your loved one, or providing you that extra capital for a worthwhile investment.

Should you happen to miss your payment for your personal loan with Quick Loan, please contact us as soon as you are able. As late payments will detrimentally affect your credit score, and also incur unwanted additional charges, we would similarly like to avoid such a scenario and hope to work with you to see if we can find a mutually beneficially solution together.