Licensed Money Lender Personal Loan Queenstown

Queenstown was established in 1952 by the British as Singapore’s first satellite town. The area has since pioneered urban design for neighbourhoods across the country.

Named after Queen Elizabeth, the estate is home to many of the nation’s “firsts”, including the very first HDB flats on Stirling Road and the Queenstown Public Library, Singapore’s premier full-time library. 

With its wealth of amenities and facilities, Queenstown is a popular choice for those looking for ideal neighbourhood living. 

Shop and dine at the Queensway Shopping Centre, or enjoy the greenery and fitness amenities at Alexandra Canal Linear Park. You can also take in the local history at Reflections at Bukit Chandu, a centre commemorating the battle against Japanese troops in 1942. 

The Queenstown, Redhill and Commonwealth MRT Stations are all within easy reach of Queenstown, making it well-connected to much of Singapore. 

Making the trip to Quick Loan’s office from Queenstown is a breeze—visit our office to explore tailored financial solutions that cater to your unique needs.

Understanding Your Credit Score in Singapore

Your credit score is a four-digit number that rates your creditworthiness based on your history of repaying loans and other credit.  

The better your credit score, the more likely banks and other creditors will approve your loan applications.  

Credit Bureau Singapore (CBS), the country’s leading consumer credit institution, generates reports based on your loans, mortgages, credit card usage and more. 

CBS ranks your credit score on a scale from 1000 to 2000. If your score is closer to 1000, it indicates that you have a greater chance of defaulting on loans. A score closer to 2000 tells creditors that you are a lower-risk borrower.

Why is a Good Credit Score Important?

Credit scores are essential when you apply for any financial service or product from a financial institution in Singapore. From borrowing money to applying for an HDB loan, a good credit report from CBS improves your chances of success.

A good credit score may also help you get lower interest rates on bank loans, enabling you to pay off debt more quickly and with less financial strain. 

Some companies and institutions may even look into your credit history before hiring you.

You can obtain a copy of your credit report from CBS.

Factors That Affect Your Credit Score

1. Limited or no credit history

This is typically true for students or young people just starting their financial journey. You may need more credit card usage, loan repayments or credit accounts to draw on when calculating your credit score.

2. Late payments or defaults

If you have defaulted on a loan or have yet to consistently pay off instalments on time, this will reflect poorly on your credit report.

3. Bankruptcy or foreclosure

Major financial setbacks like this can severely impact your credit score for several years.

4. Excessive enquiries

Applying for loans or credit cards too frequently in the recent past will also compromise your credit score’s health.

Tips to Improve Your Credit Score

If you’re struggling with a low credit score, don’t fret—there are concrete steps you can take to start building a healthier credit score today. 

1. Work on Establishing Your Credit History

Having some debt is actually a good thing—lenders typically rely on your track record of managing credit to assess your financial responsibility. Apply for a credit card and use it prudently to start building your credit score.

2. Make Timely Bill Payments

Late payments or defaults can negatively impact your credit score. Set up automatic payments from your bank account or put reminders in place to ensure you never miss a due date.

3. Exercise Moderation in Credit Applications/Usage

Try to avoid applying for multiple loans or credit cards in a short period, as financial institutions may not look favourably on this. Instead, commit to using the credit you have responsibly.

4. Commit to Responsible Use of Credit Cards

Credit card usage can influence your credit score. Keep balances low, pay your full balance each month and avoid late payments to ensure a positive impact on your credit history.

5. Monitor Your Credit Regularly

Regularly review your credit score to stay informed about your financial health. This will also help you detect any irregularities, spot potential identity theft and address issues immediately.

Quick Loan: Reliable Licensed Moneylender Easily Accessible From Queenstown

As the best licensed moneylender in Singapore, Quick Loan is dedicated to ensuring that financial support is easily accessible to citizens, PRs and foreigners across the country. 

Easily accessible from Queenstown by train, bus or taxi, we welcome walk-in visitors seeking assistance with their financial concerns. Quick Loan offers a selection of flexible and cost-effective loan plans that can be tailored to best suit your situation. 

Furthermore, our loan application process is quick and easy. You can opt for our online submission system or visit the Quick Loan office.

Count on Us for Accessible and Reliable Loan Services

• Conveniently accessible from Queenstown
• Loans are customisable according to your unique needs
• Enjoy affordable interest rates and flexible repayment plans for all loans
• Join the ranks of over 20,000 satisfied clients who have chosen Quick Loan

Important Reminders for Borrowers

• For individual loans, you may apply for loans up to 6x your monthly income
• Your company must incorporated in Singapore in order to apply for a business loan
  

Apply for a Loan From Queenstown

Interested in applying for a loan with us? With our streamlined application process, you can get your funds in as fast as 30 minutes.