1 Fullerton Credit Pte Ltd is a licensed moneylender (License No. 100/2023) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.

How To Apply For An Urgent Loan Singapore This 2024

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There are a variety of reasons why people get an urgent loan in Singapore, ranging from paying a debt to covering the deposits for a personal investment. Regardless of the reason, it is important to know how to properly apply for one and to have insight on how you can end up choosing the best personal loan in Singapore. 

Loan application involves more than just filling a form, there is also a need to submit several legal documents to establish one’s eligibility for the loan. If you need to get an urgent loan in Singapore, you can refer to this guide to make sure your application runs smoothly.

What are the Urgent Loans?

Before getting into the actual discussion of how you can get an urgent cash loan in Singapore, you should first know what your options are. The following is a summary of the types of urgent cash loan Singapore you can get and what each could be used for.

  • Personal Loans

A personal loan in Singapore is an unsecured, fast cash amount you can borrow from a financial institution (like a bank or lending establishment) for whatever monetary need you will use it for.

A personal loan can cover debt consolidation payments, unexpected medical bills, deposit for a new property/vehicle/appliance, or even a vacation. You repay the personal loan in monthly installments for a certain period with a corresponding interest rate that is typically lower than those charged for credit cards.

  • Payday Loans

Singapore payday loan is a short-term, unsecured loan where you can get fast cash from a lending institution with a promise of repaying the amount and its interest rate as soon as you are paid your salary. 

The cash loan amount is a portion of your salary, and you write the bank or money lender a postdated check which they can cash as soon as funds are available in your bank. Interest rates can go sky-high for these loans, and you are required to pay back the borrowed money within two weeks or on your next payday.

  • Title Loans

Unlike the personal loan and the payday loan, the title loan is a secured loan where you can use your assets (e.g. a car) as collateral in exchange for a certain amount. 

During loan application, the lender does not solely rely on the borrower’s credit history for this type, and the loan can be approved quickly as there are fewer requirements that have to be submitted. 

Interest rates for these loans can go as high as 300%, but you can be lent up to about 25% of the value of your collateral

  • Credit Card Advances

Credit card advances or cash advances are short-term loans that allow the account holder to withdraw a certain amount of cash. They are known for their steep interest rates and high fees, although these loans are quickly approved by money lenders that issue credit lines. 

You can withdraw your money in an ATM or it can be issued as a bank cheque. Similar to personal loans, credit card advances are repaid in monthly installments.

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What are the Pros and Cons of Taking Out the Loan?

If you need an urgent loan, the following discussion may help ease your concerns over these fast cash offers from banks and other licensed moneylenders here in Singapore. 

You have the option to borrow from a 24 hours money lender in Singapore that is licensed to provide fast cash to meet the financial struggles of citizens. However, you have to weigh your decision properly before making the move to not get yourself in a more complicated situation


  • Highly Flexible

The lending institution will not ask you to disclose the details for which you will be spending your loan hence it is said to be highly flexible. Also, you are the master of your repayment terms from the start. 

You can choose how long your tenure is going to be and how much you will pay for your monthly installments (among the various available terms).

  • Collateral is Not Required

Urgent loans (except title loans) can be either secured (with collateral) or unsecured. Thus, you are not required to let go of your ownership for an asset if you default. 

However, keep in mind that secured loans have better interest rates that might make you want to consider signing off collateral (just make sure you can pay your loan on time).

  • Fast Application Process

With the advent of technology, application for an urgent loan is now mostly done online. This makes the process smooth, comfortable, and fast. 

You can have your money as soon as the lending agency approves your request, given you have fulfilled all their requirements.

  • High Approval Rates

Most licensed money lenders in Singapore offer personal loans under very limited eligibility. Synonymous with the word “urgent”, fast cash offers like the payday loan and the personal loan provide money quickly as long as you can meet their requirements.  

Just make sure that you completely understand the terms and conditions set by the money lender to not get into an even tighter circumstance when you are repaying the money you owe.

  • Affordable Repayments

The most likely reason why you get a loan is that you lack money, and money lenders in Singapore have designed the urgent loan to fill this gap. They are upfront with their terms, giving you the freedom to decide your scheme of repaying the loan. 

It is empirical that you consider all your options properly to make sure that you can continuously remit the monthly loan installments to avoid getting fined additional fees.


  • High-interest Rates

Especially for unsecured loan types, interest rates are normally higher. This is because the lending agency has to have a certain assurance that you will repay the amount you have borrowed. 

Also, the money that your loan can provide comes from the lender’s capital. If their customer defaults or decides to vanish, the rates they charge previously and on their other clients can help buffer the (potential) losses.

  • Small Loan Amount

Because of the high-risk that unsecured loans pose on the lending party, banks and moneylenders typically limit the loan amount. The maximum amount is affected by the credit score of the customer; those who have a higher credit score can loan larger amounts. 

Your credit history will help the lender evaluate how much they can risk loaning out to you. In the case of the payday loan, your salary is the one that determines the loan amount you can borrow.

  • Additional Fees Charged

If you opt for a bank cash advance loan, you can be fined 3% – 5%, with an SGD10 minimum, as additional fees here in Singapore. Also, if you withdraw the amount from an ATM not affiliated with your credit card, you will be fined with more fees. 

Other urgent loans also charge processing fees, although these are significantly smaller than the fees from the cash advance.

What You Need to Know when Choosing the Loan

There are institutions that you can consider when getting an urgent loan here in Singapore. These are licensed moneylenders, banks or credit unions. 

Whichever of them you choose to get your loan from, you must make sure that they have the proper license by checking on government sites like the Ministry of Law in Singapore for your protection.

For licensed moneylenders, the process is quick and easy, although they charge a significantly higher interest rate. These financial institutions do not require extensive documents and their loan rates are regulated by the government of Singapore (under the Ministry of Law). You can get your urgent loan within an hour after your application is approved, hence licensed moneylenders are the best options for those that need cash fast.

On the other hand, the bank is the conventional source of a Singapore loan for the longest time, and with good reason, as they charge the lowest interest rates. Also, these institutions have a long history of credibility when it comes to offering a loan, however, you have to have a good credit history if you want to get your loan approved by banks. 

Their criteria are strict and these institutions require a long list of legal documents to establish your identity, employment, and financial status. Because of this, the bank loan is usually the loan that takes the longest time before being released.

Lastly, you may also get your urgent loan from credit unions. You can easily withdraw your available credit (minus charges) from their ATMs and/or over the counter, and use this as a monetary loan instead. They are among the fastest urgent loans you can get, but these loans also charge high-interest rates that may increase exponentially if unpaid. Also, you should note that the maximum loan amount you can get is limited to your available credit.

Why Choose Us?

The many options of where you can source a loan here in Singapore can be overwhelming, especially if you are new to the idea. 

If you are looking for a financial institution where you can get your urgent loan Singapore from, you may want to apply to 1 Fullerton Credit. Here in Singapore, you must patronize only those institutions that operate legally and have established credibility in the market.

1 Fullerton Credit is one of the top licensed moneylenders in Singapore and offers a variety of loans (from the personal loan to the payday loan, among others) so you can choose what policy works best for you. Loans from 1 Fullerton Credit are fast (loan approval can take only about 30 minutes to an hour) and they have flexible repayment options. Also, you can be assured that no hidden charges will be charged on your monthly loan payment installments, as 1 Fullerton Credit is upfront with their charges.

You can get your urgent loan in 3 easy steps in 1 Fullerton Credit Singapore. First, you will have to call the office or you can answer their online loan application form. Then, you will be asked to attend an in-personal consultation, and afterward, your loan is processed and you can receive your money. Just make sure to submit all required documents for your loan of choice, and you are good to go.


Getting an urgent loan for whatever financial pinch you are in can be intimidating. After all, loans, in general, have a pretty controversial impression in society due to the many stories of bankruptcy and asset loss after failing to repay. However, your urgent loan journey does not have to be like that

As long as you borrow an urgent loan from reliable credit institutions like 1 Fullerton Credit, you can be secured that they will leave you with no room for misunderstanding their terms and conditions. You’re only responsibility will be meeting the proper payment deadlines and repaying the correct amount of monthly installments.

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