Personal Loan Singapore
Call us at 622-11-811 today for the LOWEST INTEREST Personal Loan Singapore to help you get along and meet your needs. Loans up to 4X your monthly income.
Personal loans are unsecured loans that are applied and taken for personal use by qualifying people in Singapore. Qualifying persons are those who have a steady stream of income, from employment or business activities, and are citizens of Singapore, or foreigners with authority to live and work in Singapore. In addition, you must be above the age of 21 years, which is stipulated by law.
The advantage of this line of credit is that your moneylender/bank will not be interested to ask how you intend to use the money –you don’t have to justify yourself before getting the loan. This makes it ideal when you have non-descript needs for which tailored loan facilities do not exist.
Your best lender for personal loan services
Credit 21 Pte Ltd legal and licensed moneylender in Singapore is an established personal credit institution, having existed for more than ten years. Our personal loan Singapore facilities are available for your various needs at any time you need them. Because these loans do not have any security attached to them, they have higher rates of interest than typical secured loans like car loans, mortgages, among others.
This credit is intended for use as a short-term means of financing urgent needs. If you have an emergency of any kind and you need money immediately, our personal loans are the best option since you can get all the money within a few hours, even thirty minutes for smaller personal loans, as soon as documents have been submitted.
Personal loans are payable for between 1-5 years. The amount of money lent is dependent on your level of income. Typically, we can give you between 2-4 times your monthly salary, subject to your available credit. This means that if you also have many other loans from different sources, you limit the amount which we can lend you.
The law does not allow lenders to extend credit in cases where the total repayment instalments will exceed 65% of the gross salary. In order to maximize your chances of getting the full loan amount that you need in your time of need, we advise that you avoid taking too much credit at one given time.
Only take up as much as you need to fulfil a certain need, and try to pay it back in as little time as possible by making larger instalments where possible. This ensures that you clear debts in a shorter period and also open up your servicing ratio to ensure you can get loans when you need to apply for them.
Because these loans are unsecured, it’s important for us to assess your financial abilities to determine whether you can pay back the loan, and also to help determine a suitable repayment plan that will not over-burden your income. In doing this, Credit 21 licensed money lender examine a few characteristics.
We look at your proof of employment, which is given by your employment contract stating your salary. We’ll also need for you to provide your last two payslips and bank statements which help us assess your debt servicing ratio, income and other expenses. This will help us workout how much we can give you, and how it can be repaid.
For people who don’t have a salary, such as entrepreneurs and people who are paid on commission, their last two income tax returns can help us work out an average monthly earning figure which is then used to calculate the amount they qualify to borrow and how it should be repaid.
At Credit 21 licensed money lender, we do not carry out any credit checks, because this not only takes a lot of time, it also excludes individuals who need credit, but cannot secure it because of poor credit scores. If you have a poor credit score, we can help you secure credit provided your current financial situation can support the loan.
In addition, people who were previously bankrupt can still get a loan from us once they provide a letter of discharge. This is what makes us superior to banks and other traditional credit businesses that require a formerly bankrupt individual wait 5-7 years before acquiring credit. However, Credit 21 will not extend credit if you have exceeded your borrowing capacity.
When to use personal loans
Do not just apply for personal loans for the heck of it. Use this loan facility to bail you out of risky situations like medical emergencies and times where legal ramifications may result if payment is delayed. In these situations, don’t apply for more than you need just because you qualify.
Avoid using personal loan funds for games of chance like betting, gambling, speculative investment trading or other unsure ventures. Use the amount of money taken to solve your need. If there is any extra leftover, you can come to us and pay it in as a bulk partial settlement of your loan, instead of spending it unwisely.
With wisdom and good planning, your personal loan can help you navigate difficult patches with ease. Call us today at 622-11-811 to apply for yours.
Features of a Good Personal Loan
Every once in a while, you may find yourself in need of a personal loan to help you get along and meet your needs. There are certain key features of a good loan that will ensure you get financial help without regretting it later. One of the features should be an amount that you can easily payback when you receive your next paycheck. This will allow you to finish paying in time so that you do not risk incurring extra charges on default payments.
A good personal loan should enable you to consolidate your debts. If you have taken more than one loan from other sources, you should consider personal loans. This means that you will only need to make one payment at the end of the month. In addition, the loan you will get will be having a lower interest rate than the other loans. This allows you to save more money and get out of debt faster.
Personal loans should help you improve cash flow. A personal loan can help you settle your bills when you do not have any money at the time. Later on after you are back on your feet financially, you can repay the loan and get out of debt. Therefore, the loan helps you to keep your cash flow constant so that you do not risk defaulting on important bills. However, it is essential that you keep up with the payments on the loan once you get money.
You can also a personal loan with low credit scores. This means that you do not need to have a perfect credit history to get the loan. Normally, if you have low credit scores, you might find it a bit hard getting a loan. However, there are lenders who are willing to offer you such personal loans. However, you should pay your loan in time so as to improve or build your credit score. This will help you avoid any future problems when seeking a loan.
Therefore, if you are struggling with bills or you need money for emergency needs, you should consider a personal loan. It is essential that you get a responsible lender who has helped other people with financial problems as well. In addition, you also need to know all the fine print of the loan you are getting. For example, you should find out how long you will have to repay the loan and what the interest rates are.
Personal Loan: Why you need it
Financial emergencies are not planned. It is very easy for life to present circumstances that require you to spend money. This can present a lot of difficulties if you do not have money with you. Therefore, you have to find ways to be able to access money as soon as possible. One of the options that you have is to take a personal loan Singapore. You can either take the loan from a financial institution like a bank or from a moneylender. Moneylenders process loan quickly than financial institutions. However, they offer loans for short term financial solutions.
There are many reasons why people can choose to take a personal loan Singapore. One of the most popular reasons that drive people to take these loans is for investment or business opportunities. Opportunities present themselves once in a while and it is important to take advantage of them. If a business or investment opportunity presents itself, you need money to be able to get the most out of it. It is advisable when taking a loan for such an opportunity to ensure that it is one that will yield returns.
The other main reason that people can borrow a personal loan Singapore is for personal emergencies. This includes things like medical emergencies or expenses for pursuing an education. It is important when taking such a loan to have a payment plan. These types of emergencies are not like business or investments that will earn you more money. Therefore, you have to ensure that the terms of your loan give you an opportunity to conveniently pay the loan in time.
Most of these personal emergencies do not require a lot of money. However, money for an investment opportunity in most cases will be a large amount of money. The purpose of the personal loan Singapore should guide you in deciding where to take your loan. Short term loans that need to be processed quickly should be taken from a moneylender. This is because the application, qualification and processing of a loan through a moneylender can take a day. However, if you need a large amount of money then approaching a financial institution might be a good option. When approaching a financial institution you have to think about your credit score. This will determine most of the terms for your loan or even whether you qualify for a loan in a bank. There are many moneylenders and institutions that are willing to give these loans to individuals that commit to paying the loan.