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About QV Credit

QV Credit is a legal, recognized and licensed money lender here in Singapore. Since 2010, we have provided an extensive range of money lending services for those in need of quick cash, with tailored loan packages for Singaporean residents, businesses and foreigners alike.

Our mission is to offer our clients fast access to emergency cash in times of financial difficulty. Our process is both convenient and hassle-free — no endless paperwork and long loan approval waiting times. Our clients are of utmost importance to us; our team will ensure your loan transactions will go through smoothly and quickly, in order to tide over the difficult times. Our repayments are flexible too — we can cater to specific remuneration dates or agreed on monthly installments.

QV Credit is a legal moneylender, monitored and licensed by the Registry of Moneylenders Singapore (Ministry of Law). Our packages and plans hence adhere to the policies and regulations set by the Moneylenders Act and Rules. You can expect fairness, convenience, transparency and quick responses from our friendly and experienced team.

How it works

Apply for a loan

Loan applications are done online in 3 easy steps, completed in 1 minute. By applying with Singpass Myinfo, loan approvals are even faster!

Apply now

Wait for the response

Once the application is received, loan approvals can be as quick as 30 minutes so standby your phone!

Collect the money

No hidden fees! Approval within 20 minutes with instant cash disbursement in our office!

Licensed Loan Agency in Singapore for all situations

There are many instances in life when you might need fast cash, such as buying a new car, paying for your upcoming wedding, going overseas to study, or paying off hefty medical bills.

Given how expensive it is to live in Singapore, it is completely understandable that you will not have enough money on hand to pay for certain things. Many banks have a lengthy and complicated approval process with many terms and conditions. Worse, you might not even be awarded the loan contract after all that!

QV Credit is here to change that. We ensure that you don’t waste any time when getting your loan. Furthermore, we are licensed by the government. It is very important to take loans from a licensed money lender as they are bound by legal rules. Be it a personal loan or business loan for Singapore citizens and permanent residents or foreigners, we make getting a cash loan hassle-free.

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Cash disbursed instantly upon approval

Approval within 30 minutes

Here at QV Credit, we also take great pride in ensuring our customers are

100% satisfied. So we do not have any hidden fees and interest charges; we are completely transparent and ensure you fully understand any terms and conditions that come with the package before you sign the loan contract.

Why Choose QV Credit?

Easy Application

With a simple application form, you can immediately apply for a loan with us! No interviews and scheduling of appointments needed. Unlike traditional banks we only require proof of personal id documents.

Approval within an Hour

You will receive approval of your application loan online within an hour. No more waiting for weeks of approval. Just fill out the loan application form here for a quick turn around.

Licensed Provider

There are many unlicensed money lenders such as loan sharks that take advantage of borrowers with ridiculously high-interest rates. It's crucial you only borrow from licensed money lenders recognised by various government agencies and the Ministry of Law.

Low Interest Rates

Rest assured you can get past your financial difficulties because we offer the most affordable interest rates. You may contact one of our loan officers to get a quote and expect reasonable interest rates.

Best Provider of Funds in Singapore since 2010

Loans served daily

Happy customers

Years of experience

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Alternative Funds for Everyone

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, whether you are looking to fund a wedding or get the money to further studies overseas, QV Credit has a loan package perfect for you!

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The process is simple — just enter your basic contact information and the loan amount!

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Customer Reviews & Testimonials

Burlington Square, 175A Bencoolen Street, #11-08, Singapore

4.9 226 reviews

Ash Sufyan

a week ago

The officers attended to me was very polite and helpful... i have no problem doing loan with them...

Polavarapu Sreekanth

a week ago

Very professional and friendly customer service and easy to approch.

Hilal Rapani

3 months ago

Service is prompt and quick, reminders of upcoming payments are a big help. Any issues with payments are also easily settled. Highly recommended

Nurhashimah Rahim

4 months ago

We are happy with the service. We have been with them for 3 years. The staffs are pleasant, very helpful in advising and helping us.

dennis tay

6 months ago

QV Credit service are good. SK Explain in clear detail to me.Receive cash in 20min. Thanks !

MY MY

9 months ago

Have no doubt on their professionalism in handling my inquiries to suit my financial needs. Good service, helpful staff, affordable rates and fast approval. Thumbs up!

Yunnan Chia

9 months ago

Service quite fast but still able to explain the terms clearly, will definitely come back when I need their service again, HIGHLY RECOMMENDED!

Meimei Cheah

9 months ago

First time taking loan from money lender was a bit scared, but after their explanation everything went smoothly .They will assist and willingly to help your financial problem .GOOD SERVICE AND FRIENDLY

Raymond Ng

10 months ago

QV Credit is understandable and willingly to cater to your needs when required. Do approach them if you need any financial assistance. They willing to listen and come up with a suitable loan proposal for you. Keep up the good work.

WR Low

10 months ago

Very helpful and friendly service. They will explain to you in detail and understand your financial issue and will advice on the best solution for you. Highly recommended.

jonathan2001 free

10 months ago

I have no difficulties having the good service from this credit company. The staff gave me full assistance in handling my matters. Really appreciate the good services.

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!

What do Loan Providers in Singapore Do?

A licensed money lender in Singapore is here for you when you are in financial distress and have no one to turn to.

At QV Credit, we understand that it can be frightening to be in your situation. We also know it can be confusing with so many things to worry about.

That's why we want to make getting fast cash easy for you.

When you apply for a loan at a licensed money lender like us, we'll hand-hold you through the entire application process because we put the needs of our clients first, we always approve money loans in a matter of minutes.

Although we assess your basic documents just for regulatory purposes, we don't have strict checks on credit history.

Finally, we always structure a flexible repayment schedule to make loan borrowing accessible, affordable and hassle free.

Legal money lenders in Singapore also adhere to regulations set by the Ministry of Law. On the other hand, an unlicensed money lender is not bound by the moneylenders act and rules so they will likely impose a very high interest rate. In fact, it is illegal to even borrow from them!

What should I consider before taking up a loan?

What are you using the loan for and is it necessary to take out a loan?

We always encourage our clients to spend within your means. But if you have an existing, high interest debt to pay off or have urgent bills to pay, using a loan from a licensed money lender in Singapore as a form of debt consolidation would make sense.

Next, consider your ability to repay the principal loan amount and its interest payment. Do you have any other financing solutions? As much as a loan is meant to help tide you through your financial difficulty, it still needs to be repaid at some point.

If you've determined that you can handle that, here are some other considerations:

Are you borrowing from a bank (and do you qualify) or are you borrowing from a moneylender (and are they a licensed and legal money lender recognised by the Registry of Moneylenders)
What type of loan are you looking for
What is the loan amount you require
What is the interest rate (remember to calculate the EIR too)
What is the loan tenure and what are the loan terms
Remember to include payment fees into your calculation (and factor in late fee or late interest charges if you feel you might be unable to repay the loan on time)

How much can I borrow?

Licensed money lenders in Singapore are bound by consumer protection rules and MAS regulations. Here are some basic cash loan requirements they have to adhere to. Secured Loan:

No Restriction to any amounts

Unsecured Loan:

If your annual income is less than S$20,000 : Up to S$3,000
If your annual income is at least S$20,000 and more, in addition to AWS and Bonuses : Up to 6X of your monthly income

Business Loan

Business owners are eligible to take up a small business loan of any size between $10,000 to $300,000. The right amount depends on your business needs and the size of your company in Singapore.

Feel free to fill out our online loan application and head down to our office so we can assess the maximum amount loan amount we can disburse for your specific case.

Are there compulsory requirements needed for any loan?

In order to take out a loan from any licensed money lender, you have to fulfil these requirements stated below:

A Singapore Citizen or Permanent Resident of Singapore
At least the age of 21 and above
Must not be declared undischarged bankrupt nor any bankruptcy that is ongoing
Permanently employed contributing monthly CPF
Foreigners and Expats must have a Valid Work Permit or Valid Passport
Self-Employed to have their Income Tax Assessment, ACRA, or Vocational License

QV Credit will need some documents to be submitted for verification purposes. Singapore Citizen / Permanent Resident:

Copy of NRIC (front and back) OR
Copy of Passport (for Singapore Permanent Residents)

Proof of residence using any of the following documents:

Latest Utility bills (electricity, water, refuse collection), rates or tax bills
Latest Bank or Credit Card statements (including e-statement)
Copy of Rental Agreements showing your address
Latest Mobile phone statements / pay TV statements
Letter from Employer stating current address
Government issued documents stating address (e.g. IRAS, CPF, ICA)
Income documents
Copy of latest Income Tax Notice of Assessment (2 years for Self-employed); or
Copy of latest 1 month computerised payslip from current employer; or
Copy of latest 12 month CPF Contribution Statement

Moreover, according to IPTO’s regulation, all successful personal loan applications require the applicant to collect the loaned amount in cash from the licensed moneylender’s office. This is so to ensure that all paperwork required for the loan application is legal and binding between both parties.

What are the interest rates that can be charged in Singapore?

Interest rates moneylenders charge are typically slightly higher than banks, mainly because they take the risk of money lending without any collateral (which is better for customers).

Nevertheless, as a premier licensed money lender must abide by the standards and policies set by the Ministry of Law in Singapore, you can count on the competitive interest rate options they offer. These rates are reasonable since there is a maximum interest rate moneylenders can apply on a borrower's income.

So, you can be guaranteed that you will only need to repay a fair amount of money once the term of your loan is over. In the same way, there are many flexible repayment plans available. You can also check with the moneylender what their payment terms are, so you will be able to foresee the cost you need to pay at the end of the period of your loan.

As mentioned above, these items should be stated in the loan contract, and do make it a point to review the details carefully to avoid any problems in the long run with regard to legal circumstances.

*Note: There are additional late interest charges that a licensed money lender can charge for late repayment if a borrower fails to pay on time.

What are the fees that can charge?

With effect from 1 October 2015, licensed moneylenders are only permitted to impose the following charges and expenses:

late repayment fees not exceeding $60 for each late month;
a fee not exceeding 10% of the granted principal loan disbursed; and
legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

Is there a way to get a loan extension if I really need one?

Yes it is possible, but we cannot guarantee you will be awarded an extension. Extensions and Refinancing will need to be done through QV Credit.

Just call our hotline and our loan assistants will guide you through the process. We will then follow up with you on information about approval, cancellations, your future payment plan, and the possibility of extensions.

It's important that you contact us early to discuss your needs. If not, late payment fees will be applicable.

What should I do when borrowing money in Singapore?

There are many money lenders available in Singapore. So when choosing one for your financial concerns, it is important that you deal with one offering a reliable level of service and is flexible with your requirements.

Most importantly is checking the background of money lenders so you can avoid a loan shark or unlicensed moneylenders. Let's be honest, not every lender can meet your standards and requirements. There are now some moneylenders known for their false and misleading advertising while others are notorious for their malpractice.

Here's what you can do:

Search for the list of licensed moneylenders in Singapore.
Check out their website and see what they have to offer.
Speak to the loan assistants over the phone. Good customer support is a great indicator!
Feel free to enquire about the interest rate moneylenders offer.

After you've decided on a moneylender and you are approved of a loan, you will need to request for a contract that indicates information about the principal amount, interest rates, penalties, and schedule of payment.

The language used in the contract must be one that you can understand, so there will be no confusion or uncertainty as you read it. Make a copy of the loan contract and keep it to avoid any possible disputes.

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

Tip of the day

View more tips in our blog →

Maximising your Credit Card in Singapore

7 Tips to Identify Legal Licensed Money Lenders Singapore

Money Lender approval in less than 30 minutes

Loan calculator

Results

About QV Credit

How it works

Apply for a loan

Wait for the response

Collect the money

Licensed Loan Agency in Singapore for all situations

Why Choose QV Credit?

Easy Application

Approval within an Hour

Licensed Provider

Low Interest Rates

Best Provider of Funds in Singapore since 2010

Alternative Funds for Everyone

Personal Loans

Payday Loans

Foreigner Loans

Business Loans

Housing Loans

Renovation Loans

Wedding Loans

Fast, Urgent, Cash Loans

Bad Credit Loans

Monthly Installment Loans

Short Term Loans

Debt Consolidation Loans

Apply for a loan now

Customer Reviews & Testimonials

FAQ

What do Loan Providers in Singapore Do?

What should I consider before taking up a loan?

How much can I borrow?

Are there compulsory requirements needed for any loan?

What are the interest rates that can be charged in Singapore?

What are the fees that can charge?

Is there a way to get a loan extension if I really need one?

What should I do when borrowing money in Singapore?

Tip of the day

We have moved!

QV Credit is now 118 Credit as of 14 January 2022