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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 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. 

You can also expect a lower rejection rate for your application since moneylenders are more likely to approve your loan, even if you have a bad credit score. 

Quick Loan lets you access instant loans through our personal loan service and other options. These include payday loans to help you meet those expenses that cannot wait.

Yes, you can qualify for a 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. 

Unlike Singaporean banks, licensed moneylenders have minimal requirements for expats applying for personal loans. Moneylenders also have faster loan processing times, meaning you can get your money within the same day to cover any urgent needs. 

Alternatively, you may apply for our foreigner loan with a minimum monthly salary of SGD1,800 with no guarantor required. You can look forward to flexible repayment conditions with low effective interest rates if your loan is approved.

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 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.  

At Quick Loan, you can look forward to a simple and speedy approval process once you’ve met our requirements for a personal loan. You can also apply for a quick loan or licensed moneylender loan with us to secure urgent funds.