Private Personal Loan Singapore
Get a fast, non-bank personal loan of up to
6x your monthly income, approved typically within
30 minutes, with a repayment plan built around
your salary.
*(subject to approval)
Licensed
Licence No. 59/2026
Nothing to Pledge
No guarantor needed
Same-Day Payout
Cash on in-person signing*
Interest Capped by Law
Never more than 4% a month
Private Lender vs Bank Personal Loan
Both are legal ways to borrow in Singapore. A bank costs less if you can wait and meet its criteria. A licensed non-bank lender is built for speed and flexibility. Here is how they compare.
| Feature | Bank Personal Loan | QuickLoan Private Lender |
|---|---|---|
| Approval | Minutes to several days, depending on the bank | Typically within 30 minutes |
| Getting the money | Credited to your bank account after approval | Paid out on in-person signing |
| Credit history | Strict credit bureau checks | Checked, then assessed case by case |
| Interest | Lower, quoted per year | Up to 4% a month, capped by law |
| Fees | Processing and early repayment fees vary by bank | Legally capped, with no early repayment penalty. Total charges can never exceed the amount you borrow |
| Repayment term | Usually 1 to 5 years | Shorter terms, set around your salary |
| Foreigners | Often higher income requirements | Work pass holders considered. See our foreigner loan |
A bank fits if you have good credit, can wait for approval, and want lower interest over a longer term.
QuickLoan fits if you need cash today, the bank has turned you down or is too slow, or you prefer a shorter repayment period.
Loans are subject to approval at QuickLoan
Personal Loan Interest Rates and Fees
With a licensed moneylender, your interest rate is capped by law and charged only on what you still owe, so it drops with every repayment. Below are the maximums under the Moneylenders Act, not standard charges. Your actual rate is set out in your contract before you sign.
-
4%a month, max
Interest is charged only on the balance you still owe, so it drops with every repayment.
-
10%of the loan, max
Admin fee, charged once when the loan is granted. Nothing is paid upfront before you receive your money.
-
4%a month, max
Late interest applies only to the overdue instalment, not the rest of the loan.
-
S$60a month, max
Late fee for each month a repayment is late.
-
100%of the loan, max
Total charges, including interest, late interest and fees, can never exceed the amount you borrowed.
No early repayment penalty. Settle early with QuickLoan and you only pay the principal plus charges up to that date.
Personal loan repayment calculator
Set an amount, tenure and rate. Interest is worked out on the reducing balance, as the law requires.
Estimated monthly repayment
S$0 / month
- Loan amount S$0
- Total interest S$0
- Total repayable S$0
Illustration only, assuming on-time repayments. Excludes the one-time admin fee of up to 10%. Loan amount, rate and tenure are subject to approval and your income.
Why Choose QuickLoan for Your Personal Loan?
Fast Assessment
Typically assessed within 30 minutes, with funds available after approval.
Convenient Location
Visit us at International Plaza, a short walk from Tanjong Pagar MRT.
Open on Saturdays
Drop in after work on weekdays or on Saturday. No appointment needed.
Personalised Repayment
A repayment plan based on your income and ability to repay.
Loans are subject to approval at QuickLoan.
Personal Loan Eligibility in Singapore
Four things to check before you apply. Meet all four and you can usually get a decision on the same visit.
Looking for a personal loan on a low income? QuickLoan's minimum is a monthly salary of S$1,800. How much you can borrow depends on your annual income and residency, as set by law.
- Aged 18 or aboveBring your NRIC, or your passport if you're a foreigner.
- Employed, earning S$1,800+ a monthRecent payslips help us confirm your income.
- Singaporean, PR or work pass holderForeigners need an S Pass or Employment Pass valid for 6+ months. See our foreigner loan.
- Existing loans are OKLoans with other moneylenders don't rule you out. We look at what you can comfortably repay.
Unsecured Personal Loan Limits from a Private Lender
How much you can borrow is set by law, based on your annual income and residency. The limit covers everything you owe to licensed moneylenders combined.
These are legal maximums, not offers. QuickLoan's minimum is a monthly salary of S$1,800. The amount we lend depends on your income, existing debts and ability to repay.
Check My LimitDocuments Needed for a Personal Loan
Bring the right papers and your application can be approved, signed and paid out in one visit. Pick your residency to see your list.
Save time with MyinfoApply with Singpass and your personal details are filled in for you, so there's less to check at the office.
- NRIC
- SingpassTo verify your identity
- Payslips for the last 3 monthsIf you have them
- Bank token
-
If you rent, bring both
- Tenancy agreement
- Proof of addressA recent phone or utility bill
- S Pass or Employment PassValid for at least 6 more months
- Passport
- Employment contract
- Staff card
- Payslips for the last 3 monthsIf you have them
- Bank token
-
Proof of residence, bring both
- Tenancy agreement
- Phone or utility bill
How to Get a Personal Loan in Singapore
From application to cash in hand, in a single day. Here's exactly what happens at each step.
-
A few minutes
Apply online or walk in
Fill in a short form with Singpass Myinfo, or come to our office. No appointment needed.
-
Typically 30 min
Get your loan assessed
A loan officer reviews your income and existing debts, then contacts you with an offer.*
-
One visit
Visit us with your documents
Bring the documents listed above. By law, we verify your identity face to face.
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No surprises
Review and sign your contract
We explain the rate, fees and repayment schedule in a language you understand. You keep a copy.
-
On the spot
Receive your money
Walk out with cash, or have it transferred straight to your bank account.
What Can You Use a Personal Loan For?
Almost anything. A personal loan is unsecured and multi-purpose, so the money is yours to use as you need. These are the most common reasons borrowers come to us.
Personal Loan FAQs
Straight answers to what borrowers ask us most. Can't find yours? Talk to a loan officer.
Our team replies during office hours, Monday to Saturday.
What is a personal loan and how does it work in Singapore?
A personal loan is an unsecured loan, so you don't pledge a car, property or anything else as security. You borrow a fixed amount and repay it in instalments over an agreed period.
With a licensed moneylender, the amount you can borrow depends on your income, and interest is charged only on the balance you still owe.
Is it legal to get a personal loan from a private lender?
Yes, as long as the lender is licensed by the Registry of Moneylenders under the Ministry of Law. QuickLoan Pte Ltd holds Licence No. 59/2026. You can check any lender against the official list of licensed moneylenders.
A licensed lender will always meet you in person at its registered office and will never ask for money before your loan is paid out.
Can I get a low interest personal loan from a moneylender?
Licensed moneylenders can charge up to 4% interest a month, which is higher than a bank's rate. What keeps the cost down is how that interest works: it is charged only on what you still owe, so it falls with every repayment.
Total charges can never exceed the amount you borrow, and QuickLoan has no early repayment penalty. Try our repayment calculator to see what a loan would cost you.
How fast can I get a personal loan approved?
Most applications are assessed within 30 minutes. Once approved, you sign your contract at our office and receive your money on the same visit, as cash or a bank transfer. Final approval depends on your documents and assessment.
Can I get a personal loan on a low income in Singapore?
QuickLoan's minimum is a monthly salary of S$1,800. How much you can borrow is set by law according to your annual income and residency. See the loan limits above for the exact caps.
Can I get a personal loan without income proof?
We need to confirm your income before we can lend, as licensed moneylenders are required to assess your ability to repay. Payslips for the last three months help. If you don't have them, bring your bank token and we'll discuss other ways to verify your income.
Will my credit score affect my personal loan application?
It is considered, but it isn't the only factor. Licensed moneylenders are more flexible than banks, so a lower credit score doesn't automatically rule you out. We look at your income, existing debts and what you can comfortably repay.
Can I apply if I have existing loans with other moneylenders?
Yes. Existing loans don't stop you from applying, but they are counted when we work out how much you can borrow. The legal limit covers everything you owe to licensed moneylenders combined.
Is a payday loan the same as a short-term personal loan?
They are similar. A payday loan is usually a small amount repaid in one go when your salary comes in. A short-term personal loan is repaid in instalments over a few months. Both follow the same legal caps on interest and fees.
Is there a penalty for repaying my personal loan early?
No. QuickLoan charges no penalty for early repayment or full early settlement. You only pay the outstanding principal plus any charges up to the date you settle.
What happens if I miss a repayment?
Contact us as soon as you can. Late interest of up to 4% a month applies only to the overdue amount, and the late fee is capped at S$60 a month. Late payments can also affect your credit record, so we'd rather work out a solution with you early.
Can foreigners and Malaysians working in Singapore apply?
Yes. Foreigners with an S Pass or Employment Pass valid for at least six more months can apply, including Malaysians working in Singapore. See our foreigner loan page for details.
Can I get a personal loan if I'm unemployed?
No. You need to be currently employed and earning at least S$1,800 a month to qualify.
Find Our Office at International Plaza, Tanjong Pagar
Once you've applied for your personal loan, drop by our licensed office. We verify your identity, go through your offer and explain every term before you sign.
International Plaza
Singapore 079903
- Leave Tanjong Pagar MRT by Exit C
- Walk into International Plaza, right beside the station
- Head to unit #01-15 on Level 1
Mon to Fri: 11am to 8pm
Sat: 12pm to 5pmClosed on Sundays and public holidays
You sign your personal loan contract at our office. We confirm your identity and take you through the interest, fees and repayment plan first, so you decide with the full picture.