Personal Loan

Living in Singapore, you may need some financial assistance or support.

What is Personal Loan?

Personal loans can get you out of bounds, which is why it is becoming more popular among people from all walks of life in Singapore. What is a personal loan? Given the personal nature of the loan, this is an unsecured loan and the lender has not raised any questions. It usually provides a short period of time, usually no more than five years, which means that payments should be faster than other long-term loans. It also attracts higher interest rates than most other loans. The amount of a personal loan depends on a factor in your current monthly income. For example, depending on the lender and your needs, you may receive a loan that is three times your income or five times your monthly income. With high interest rates, personal loans are subject to an annual fee. You should consider all of these factors when deciding which lender is close to your personal loan. When it comes to lending institutions, you can go to financial institutions such as banks or private money lenders. All of this provides good deals, but if you need cash urgently, private money lenders can own it faster than banks because they don’t have bureaucratic procedures operated by large financial institutions.

Why Choose a Personal Loan?

Most of the bank loans that usually go with Singapore are mortgaged. Moreover, their evaluation usually takes several days to several weeks. Some will not even approve the loan in the end.

Of course, there are many other ways to meet your needs, including the use of credit cards. However, personal loans are very popular with consumers because they are easily accessible even if credit is bad. In addition, loans are tailored to your specific needs, making them easier to repay. No collateral is required, which makes personal loans safer during these uncertain economic times.

Unlike other credit lines, as the name implies, personal loans should help to clarify individual needs. Whether you need to travel, solve a medical emergency, hold a dream wedding, pay for college or buy a new car, this loan will come in handy. These loans can be used for both short-term and long-term needs, as well as for all types of customers.

So, is Personal Loan Legal?

If you have never used a licensed money lender’s services, you should know that we are legal and licensed to provide loans to individuals at a predetermined rate. To verify this, you can find our name and license number on the official authorized money lender list on the official IPTO website. Licensed money lender services are very different from usurers, who are illegal and use unscrupulous and illegal means to ensure that customers repay their loans and provide loans at high interest rates. Our interest rates are regulated by the government and only change according to market interest rates. Therefore, we offer competitive loans that are very useful to you when you need them.

5 Tips to get the Best Loan Rate

First: Evaluate your financial needs – You should reassess your financial situation before purchasing any financial products. List your emergency needs and, in addition, view your income to determine the amount you can easily repay.

Second: Looking for a licensed money lender – Although the country’s private lenders are regulated by the Money Lenders Registry (the Singapore Law Department), there are still illegal companies that take consumers away. To avoid scams, ask for their registration number and check their physical address.

Third: Recommendations and Advice – If you are looking for a personal loan in Singapore, talk to a work colleague and a friend. Word of mouth is the best proof of the quality of lenders’ services. Looking for a high-rated credit and positive feedback from past customers.

Fourth: Go online and compare house prices – There are hundreds of money lenders in this country. This competition makes foreigners seeking loans better. Check out the comparison website and choose the company that offers the most competitive prices.

Fifth: Customer Service Level – When purchasing a foreigner loan in Singapore, assess the quality of customer service before registering the loan. A good company will have a representative of a team of experts ready to solve customer problems.

Why choose to borrow with us? What can we do for you?


Affordable Interest Rate

In the leading express lenders of the new fast banknotes, we offer the most competitive personal loan packages at reasonable prices. Our highly qualified, professional and experienced staff will calculate the EIR for you based on your comfortable loan repayment plan and will advise you on the best repayment plan to further reduce EIR. We believe in not only providing a loan solution, but also providing the best advice so that you can get a better financial situation through our services. As a result, our customers are always focused on quality service, and we receive positive feedback even on the review site.

A little about the EIR

If you want to reduce the EIR even further on the loan amount that you are taking, the best way is to choose a repayment plan that allows you to make a few larger installments rather than very many smaller ones. As far as your ability allows, pick the fewest installment amounts for the loan period that you have to reduce your EIR.

Another way to reduce your EIR is by offering the option of getting a secured personal loan. We offer both secured and unsecured loan packages. The latter usually have higher interest rates because of the greater risk involved. By offering a security, for example an asset that you own, you can get the secured loan interest rates which are lower, allowing you to save more money on the cost of loan.

Lastly, if you know what you want to spend the money for exactly, come to Urgent Loan Money Lenders Singapore and choose from any other of our specific loans packages. Specific loans packages also tend to have slightly lower interest rates than non-specific ones.

At the end of the day, our top priority is to see all our clients fully satisfied with our services and in better financial standing through our services. Call us today for your loans solutions and we will help you too!