Personal Loan in Singapore

What is a Personal Loan?

Personal loans are loans that are applied and taken for personal use by qualifying people in Singapore. Global economic uncertainties hinder a country’s growth, which makes it harder for household owners to access easy personal loans. Banks become more stringent and it is especially difficult for people with poor credit scores to access credit. All these against a backdrop of increasing financial needs and rising prices make life stressful.

Personal loans Singapore is a short-term means of financing urgent personal needs. They can be taken out from anyone, be it the lower income group or the higher income group of people. We will not be able to predict the future nor any mishaps that may happen. But sometimes, accidents such as unforeseen car repairs or hospital bills to be settled for your loved ones can arise, and it is in these situations that a personal loan can help you.

Customised packages

Everyone has their own unique needs. That's why our team will customise one that takes into account your problems, financial situation, and future

Full Transparency, No Hidden Charges...

We explain every detail, term and condition. And we definitely don't have hidden processing fees

Complete privacy & Confidentiality

Your personal details are 100% safe in our secured database

Easy Online Loan Application

With our online loan application, getting a personal loan has never been easier

Instant Approval, Instant Cash

Once your loan is approved, we'll disburse the cash within the same day

Low Interest Rate Loans

Interest rate for as low as 1% per month if all conditions apply. Choose from our wide selection of loan repayment and flexible repayment options.

Apply for a Personal Loan with QV Credit

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

Car Loans

Auto financing that powers your dream

With low monthly instalments and fixed loan repayments, you never have to put your dream on hold because of money.

Let’s face it, owning a car in Singapore is expensive. 

Unless you’ve been seriously saving up for a car, most of us don’t have a hundred grand rolled up in our bank, waiting to be spent. We’re here to change that.

  • Flexible repayment plans

Choose from a variety of repayment plans that meet your financial needs

  • Easy payments to enjoy your car

Enjoy small, convenient payments through various payment channels available

Car loans for repayment

Fast Cash Loans

Cash you can use for anything, any time

Get instant cash with our low-interest personal loan packages. Whatever your short-term financial need is, we promise to help tide you over.

Money might not make you happy. Maybe. But lack of money can overturn your life. 

And a QV Credit, we believe everyone deserves to make their dreams come true, or at least prevent nightmares. So whether it’s a blissful marriage or getting rid of a massive debt burden, let us help you.

  • Instant cash, instant approval
    Once your loan is approved, we’ll disburse the cash within 20 min 
  • Lower interest rates, lesser stress
    Repay only a fixed amount every month with our low interest rate repayment plans
  • Customisable loan packages
    Everyone has their own unique needs. That’s why our team will customise one that takes into account your problems, financial situation, and future
Fast cash loans from a money lender singapore

Loans for Medical Bills

Medical loans that give peace of mind

Health comes first and we want to ensure both you and your loved ones receive the best treatments so that you can fully recover. Our medical loan packages got you covered.

Never be denied medical care because of insufficient money. We take care of your finances so you can take care of your health and your loved ones. 

Just as you are there for your loved ones, we are here for you.

  • Maximum coverage for your medical bills
    Be it cosmetic, dental, hospital surgery or medicine, we got you covered for all
  • Experienced loan officers
    Our officers will guide you step-by-step on the best medical loan package
  • One easy monthly instalment
    Never stress about managing multiple balances and bills again. Just focus on recovery
Medical bill loans from a money lender singapore

Fees and Charges

Details Charges
Interest Up to 3.92% per month
Administration Fee Up to 10% of loan amount approve
Early settlement fee There is no penalty fee for early settlement of a loan

How much can I borrow for a personal loan?

Banks and licensed money lenders in Singapore offer both secured and unsecured loans.

In general, secured loans have no cap amount, but require you to provide collateral. Unsecured loans, on the other hand, don’t require collateral. But the amount you can borrow varies.

For unsecured personal loans of up to S$3,000, you must have an annual income of at least $10,000 to $20,000

For unsecured personal loans exceeding S$3,000, you must have an annual income of at least S$20,000.

And if you earn more than S$20,000, a licensed money lender can give you a loan of up to 6 times your monthly salary.

Eligibility and Documents for Personal Loans

For borrowers applying for a QV Credit Personal Loan in Singapore, applicants must be at least 21 years of age and above and have to be either, a Singapore Citizen or Permanent Citizen. Click here if you are a foreigner applying for a loan.

Identification Documents Income Documents
  • Singapore Citizen / Permanent Resident:
  • Copy of NRIC (front and back) OR
  • Copy of Passport (for Singapore Permanent Residents)
  • 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
  • Sale and purchase agreements
  • Vehicle registration card / Log card
  • Application for Hire Purchase
  • Please complete and sign this form.
  • Please complete and sign this form. You can also do this at your car dealer.

How to Apply for Personal Loan - The Process

1. How to begin – how much do I need?

Borrow just the right amount! Not too little that you’ll be short of cash again, but not too much so that you can keep your debt as light as possible for emergencies.

2. Preparing Your Documents

At QV Credit, we take extra steps to analyse your financial situation, just to ensure that your repayment plans will not overburden your income.

3. Loan Appointment

Submit your documents at our office, sign the loan agreement and get instant cash into your account. Cheque or cash, your choice!

FAQ

In Singapore, you’ll need to be at least 21 years old to qualify for a personal loan.

Most banks also require a minimum annual income of at least S$30,000 to take out a personal loan. But this can be restrictive to people who don’t meet this criterion.

Licensed money lenders aren’t subject to those MAS regulations, so this is your next best alternative.

Adding on to the section above, the minimum salary required also varies depending on your nationality.

Singaporeans and PRs only require a minimum annual income of at least S$10,000 and above.

Foreigners will require a valid work pass, and 3 months’ pay slips to show annual income of at least $20,000

There are two main reasons why you may need a personal loan. Most borrowers either need cash or want to repay a debt. Here are some use cases and an explanation of how they work.

1. You need cash
This is the most common need when an emergency arises. What happens when you apply for a personal loan is that the money (cash) is deposited directly into your bank account and can be used for whatever purpose you wish.

Whether it’s planning for a wedding, a vacation, settling medical bills or anything, we’ve got you covered.

*Note: If your intention is for a home or renovation, we advise that you take a home loan or renovation loan instead.

2. You need to settle a debt
For those slapped with high interest rate debts, such as credit card loans, taking out a personal loan with a lower interest rate may be a good option.

After you pay off the debt burden, you’ll have less weight on your shoulders.

Apply for one of the Lowest Interest Rate Personal Loan Singapore

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

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