Licensed Money Lender Personal Loan Simei

Emergencies can happen anytime. Thankfully, there are loan providers in Singapore that offer same-day disbursal cash to support your needs — be it for medical expenses, car or home repairs, or time-sensitive purchases.
1. Personal Loan
There are two types of personal loans: secured and unsecured loans.
Secured loans require borrowers for collateral to qualify, as this property will serve as security to get much lower interest rates and higher loan amounts. With this type of loan, you can take a loan of any amount.
On the other hand, collaterals are not necessary to qualify for unsecured loans. However, your borrowing limit depends on your income. This type of loan is also a good option if you want to consolidate your debt.
Banks
- Loan amount: 4-10x your monthly salary
- Tenure: 1- 5 years
- Interest rate: nearly 4% p year (7% EIR)
Moneylenders
- Loan amount: Up to 6x your monthly salary
- Tenure: 6-12 months
- Interest rate: 1-4% per month
2. Payday Loan
Think of a payday loan as a simple cash advance. Consider this type of loan if you can pay the borrowed money on your next payday or within a month. This is an option if you need to make important small purchases or pay your monthly fixed bills.
Banks offer credit card cash advances. With a cash advance, you also have to pay for cash advance fee typically from 5-8%.
Banks Credit Card Cash Advance:
- Loan amount: Depends on your qualified credit limit (above S $800- S $1,000 for average credit scores and above S $1,500 for high credit score borrowers)
- Interest rate: Typically 24% per year
Moneylenders
- Loan amount: Up to 6x your monthly salary
- Tenure: Within 1 month
- Interest rate: 1-4% per month
3. Foreigner Loan
A foreigner loan is dedicated to expatriates in Singapore. Much like a personal loan, this can be used for any personal reason. The key difference is that the minimum income for foreigners is a bit higher at $3,000 per month to qualify.
Eligible foreigners can take advantage of this loan to cover rental deposits, emergency medical bills, among others.
Banks
- Loan amount: Up to 4x your monthly salary
- Tenure: 1- 5 years
- Interest rate: nearly 4% p year (7% EIR)
Moneylenders
- Loan amount: Up to 6x your monthly salary
- Tenure: 6-12 months
- Interest rate: 1-4% per month
4. Business Loan
A business loan is the best choice if you are an SME trying to stay afloat amid the pandemic. Typically, the business must be registered in Singapore, operational for at least one year, and 30% locally owned. In addition, some lenders require a minimum turnover of $60,000 per year.
Banks
- Loan amount: Up to $500,000
- Tenure: Up to 5 years
- Interest rate: Depends on bank assessment (You can be sure that it’s more or less 11% per year)
Moneylenders
- Loan amount: Up to $200,000
- Tenure: 1-2 years
- Interest rate: 5-15% per month
Takeaway
While it’s clear that banks can give you higher loan amounts and relatively lower interest rates, moneylenders can assure borrowers of its fast disbursal of cash upon approval of the application, usually with a few hours or on the same day. Let us be your go-to Simei Money Lender to provide you with your loans.
Depending on your needs and budget, it always pays to shop around first for the best deals from the best licensed money lenders in Singapore by using a loan calculator, utilizing loan comparison sites, or checking online reviews before submitting your application.
List of Licensed Money Lender Near Me
Licensed Money Lender Personal Loan Aljunied
Licensed Money Lender Personal Loan Balestier
Licensed Money Lender Personal Loan Bishan
Licensed Money Lender Personal Loan Boon Keng
Licensed Money Lender Personal Loan Bugis
Licensed Money Lender Personal Loan Bukit Gombak
Licensed Money Lender Personal Loan Bukit Merah
Licensed Money Lender Personal Loan Bukit Timah
Licensed Money Lender Personal Loan Buona Vista
Licensed Money Lender Personal Loan Chinatown
Licensed Money Lender Personal Loan Commonwealth
Licensed Money Lender Personal Loan Dhoby Ghaut
Licensed Money Lender Personal Loan Eunos
Licensed Money Lender Personal Loan Holland Village
Licensed Money Lender Personal Loan Jalan Besar
Licensed Money Lender Personal Loan Joo Chiat
Licensed Money Lender Personal Loan Katong
Licensed Money Lender Personal Loan Kallang
Licensed Money Lender Personal Loan Little India
Licensed Money Lender Personal Loan Macpherson
Licensed Money Lender Personal Loan Marine Parade
Licensed Money Lender Personal Loan Novena
Licensed Money Lender Personal Loan Orchard
Licensed Money Lender Personal Loan Outram Park
Licensed Money Lender Personal Loan Potong Pasir
Licensed Money Lender Personal Loan Redhill
Licensed Money Lender Personal Loan River Valley
Licensed Money Lender Personal Loan Rochor
Licensed Money Lender Personal Loan Sembawang
Licensed Money Lender Personal Loan Shenton Way
Licensed Money Lender Personal Loan Tanglin
Licensed Money Lender Personal Loan Tanjong Pagar
Licensed Money Lender Personal Loan Telok Blangah
Licensed Money Lender Personal Loan Tiong Bahru
Licensed Money Lender Personal Loan Toa Payoh
Licensed Money Lender Personal Loan Ubi
Licensed Money Lender Personal Loan Upper Bukit Timah
Licensed Money Lender Personal Loan Boon Lay
Licensed Money Lender Personal Loan Bukit Panjang
Licensed Money Lender Personal Loan Choa Chu Kang
Licensed Money Lender Personal Loan Clementi
Licensed Money Lender Personal Loan Jurong
Licensed Money Lender Personal Loan Jurong East
Licensed Money Lender Personal Loan Jurong West
Licensed Money Lender Personal Loan Yew Tee
Licensed Money Lender Personal Loan Ang Mo Kio
Licensed Money Lender Personal Loan Braddell
Licensed Money Lender Personal Loan Hougang
Licensed Money Lender Personal Loan Punggol
Licensed Money Lender Personal Loan Seletar
Licensed Money Lender Personal Loan Sengkang
Licensed Money Lender Personal Loan Serangoon
Licensed Money Lender Personal Loan Thomson
Licensed Money Lender Personal Loan Yio Chu Kang
Licensed Money Lender
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