Personal Loan Singapore

What can I use personal loan for?

personal loan singaporePersonal loan is an unsecured loan pay by installment that you can use it for whatever you want. You can use it for a family holiday, emergency medical financing, or even a new mobile phone that you’ve been eyeing. There are also specialized loan for renovation like renovation loan and even education loan.

Individuals who requires a personal loan must fulfill these qualifying criteria:

  • Singaporean/PR or foreigners may apply for a personal loan
  • Age between 21-65
  • Singaporean/PR must be earning at least $20,000 per annum and foreigners must be earning at least $40,000 per annum.

Typically, you can borrow 2-6X your monthly income up to a cap of $200,000 under the personal loan scheme. The tenures for personal loan ranges from 1 to 7 years. However, the longer the instalment tenure are, the higher your interests are for personal loan.

Please also prepare the following documents if you intent to secure a personal loan:

These are the documents you will need to submit:

  • Photocopy of your NRIC (both sides)
  • If you are a salaried employee, you’ll need your latest e-statement, or your CPF contribution history statement for the last 12 months, or your latest Income Tax Notice of Assessment
  • If you are self-employed, you’ll need your latest 2 years of Income Tax Notice of Assessment

Banks and Moneylenders revised their personal loan rates from time to time. Personal loan rates usually range from 6% to 10% per annum. Call us today to find out about prevailing best personal loan interests rate.

Contact us now -:

License No.: 96/2016
Reg No: 201010579C
Tel: +65 6635 8888

Block 131 Jurong Gateway Road # 01-261
Singapore 600131

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