Bad Credit Loan Singapore

Loan for Poor Credit, What is it?

A bad credit loan is an unsecured loan that can be taken by individuals with bad credit ratings. Most traditional moneylenders have very stringent rules on borrowing, and most of the time, a poor credit score will cause your loan application to be rejected.

When money is tight and you don’t have many alternatives to get a personal loan, QV Credit is here to help.

You’re running into a cash flow situation and want to apply for a personal loan. But the banks are rejecting your application because of those mistakes you made in the past. It’s frustrating to be penalised like that. But there’s nothing much you can do. Or is there…?

With a bad credit score, you can still have options. And there’s still a chance to improve your credit rating.

Introducing Bad Credit Loans!

Why Should I Borrow from QV Credit?

We help relieve your financial stress so you can focus on the issue at hand and claim your normal life back.

Easy and Quick Application Process

Our online application form is simple and to the point. You can find the form here. No need to download, scan and fax, just fill it in and hit “Send”! It is a fast process!

Fast disbursement of cash

We know how urgent the money is. Therefore, we will give you the money via cheque or cash right after the loan is approved. You can get it within 24 hours if needed!

Flexible repayment plans

Everyone has their own unique problems. There is no template for a repayment scheme. We tailor loan packages for each individual, and we work out a repayment plan that works for you. We do not want you to be stressed over finances even after the current problems are over.

Great Customer Service

We hold our clients as the number one priority. We will always put you first. Our loan assistants are extremely experienced in finance and are both friendly and helpful. They are available for queries or concerns, always.

Apply for Funds with QV Credit

Get An Instant In-Principle Approval And Collect Your Money On The Spot!

Apply now

Eligibility and Requirements

We understand times are tough and you need financial assistance. So we make it easy for you to get access to personal loans.

All a borrower needs is to be at least 21 years old and a Singapore citizen, or a PR with a valid Work Permit. We will also require the following documents during the loan appointment, just for compliance purposes:

What You Must Provide

National Registration Identity Card (NRIC) or Passport
Confirmation Letter or Certificate of Employment in Singapore
Payslips from the past three months
Latest billing proof such as bank statements, mobile phone bill, etc.
Tenancy agreement (Only if your current residence is rented)

If you have any questions regarding the needed documents, feel free to give us a call at +65 6835 7666 and our assistants at QV Credit will be more than happy to explain more.

How to Borrow if you have Low Ratings?

The thing about having bad credit is that the whole world thinks you’re a bad person. But sometimes, you’re just forced by circumstances. And it’s not your fault!

In order to save innocent people who fall in this category and give others a second chance, bad credit loans are offered by licensed moneylenders.

Apply for a loan online here.

Wait for our team to contact you, this will be done within a day.

Our loans assistant will ask some questions and inform you of the documents needed. You will set a date and time for the appointment.

The mandatory documents needed will be:

Proof that you are a Singapore citizen over 21 years of age OR
A foreigner with a legitimate job authorization (S Pass)
NRIC photocopy (both sides)
Not bankrupt
Tenancy agreement for foreigners
Proof of address (PUB bill or handphone bill)
Evidence of income

You will meet our loan assistant at our office.

They will take your documents, and go through the loan agreement, including all terms and agreements and other fees. We will not keep any charges hidden, we are fully transparent with everything. They will also work out a repayment schedule that is comfortable for you.

Once you agree to the terms and conditions, you will sign the loan agreement.

After this, the loan assistant will give you the money in cheque or cash.

Get Alternative Funds from QV Credit

Get An Instant In-Principle Approval And Collect Your Money On The Spot!

Apply now

FAQ

Here are some of our Frequently Asked Questions that we get from most of our clients. Do take some time browsing through and we hope you may find the answers you are looking for!

Can You Get a Loan in Singapore with a Bad Score?

In typical situations, financial institutions like banks wouldn’t award loans to individuals (or even a business) with a bad credit score. However, a licensed moneylender like QV Credit is happy to help.

We offer Bad Credit Loans, which are like unsecured personal loans, to help people with a bad credit score.

However, as the moneylender taking on credit risk, we hope you understand if the interest rate we offer is a little higher than those offered by banks and traditional lending institutions.

But rest assured, the repayment terms are still extremely reasonable and are well within the limits set by the Ministry of Law.

How does it work?

A bad credit loan works just like a regular personal loan in Singapore, just that instead of getting the loan from a bank, you’re moneylending from a licensed moneylender.

This loan also works like any of our other loan products. The entire loan will be disbursed to you via cheque or credited to your bank account and can be used immediately for any purpose.

Whether you need to help with clearing debt or supplement your income, it’s yours.

What’s Considered Poor Credit?

There is a 4-digit score generated by Credit Bureau Singapore based on your past payment history. The score indicates the likelihood of you defaulting on (i.e. not repaying) your loans.

The highest score is 2,000 while the lowest score is 1,000. On this scale, a score of 1,000 to 1,723 would count as a bad credit score, and is regarded as risk grade “HH”.

A few factors can affect your credit score. These include: how much credit you have used, how many recent credit facilities (credit cards included) you have applied for, ther number of enquiries to your credit score and the frequency of late payments.

When Will I Need to Consider This?

There are many instances in life when emergencies arise where you might need more money than your bank account can afford. These are times when taking out loans will be very beneficial to you. Here are some instances where bad credit loans will be useful:

1. You are in the middle of a medical situation that needs a sizeable amount of cash, but banks have rejected your loan application due to poor credit scores.

2. You did not pay your mortgage loan on time and hence your credit score was negatively impacted. You, however, need to apply for a loan to cover some urgent expenses. The bank and other lending institutions have denied you the loans.

3. You need a personal loan to pay off some urgent bills and expenses as your salary has been delayed, but the bank did not approve your loan because of an outstanding debt that caused you to have a bad credit rating. And you don’t have credit cards to help.

Money Loans Offered in Singapore

We offer a range of different loan types based on your needs. It doesn’t matter if you have a bad credit history, or low-income, the best money lender for you is QV Credit!

How to find us

Bus Services to Opposite Burlington Square 64 / 65 / 131 / 139 / 147 / 166 / 857
Near Fortune Centre 56 / 980
Downtown Line DT13 at Rochor MRT Station, Exit A one minute walk to Burlington Square
From Novena MRT Station take Bus Services 56 / 131 / 166 / 980

Phone number

6835 7666

enquiry@qvcredit.sg