In times of financial distress, we understand exactly what you need. We realize how critical it is for you to have access to a fast personal loan. It is precisely what we need, all the more so when we are cash-strapped and in the middle of an emergency. Additionally, given the current pandemic, we recognise the critical need to obtain a quick personal loan. We’ve listed the locations where you may get quick personal loans in Singapore to assist you in your quest.
1. Crawfort Personal Loan
Crawfort Pte. Ltd is a registered moneylender capable of approving a personal loan in as little as eight minutes. You may earn up to six times your annual income. They use a technologically advanced algorithm to offer fast loans in Singapore. The application may be completed in three simple steps. Begin by registering with MyInfo. You may use your SingPass to log in. Then, during the following eight minutes, get the results by SMS. Once your application has been accepted, you may visit their office for a face-to-face verification and to collect your funds.
Crawfort also assists low-income individuals, particularly those who are unable to get a bank loan. You are eligible even if you owe money or have a poor credit history. Keep in mind that you must make timely repayments. Additionally, their adviser will create a unique strategy based on your financial situation.
Unlike banks, which provide set monthly repayment choices, you may customise your loan to meet your specific requirements. You may choose a weekly, biweekly, payday, or monthly payback plan.
You may also read their guide on Can I get a personal loan without proof of income?
Time Required for Approval: 8 minutes
Loan interest rates: Annual percentage rates on nominal loans begin as low as 1.8 percent. Processing charge: A fee of up to 10% of the principal loan amount is taken upfront from each loan.
How much personal loan can you obtain?
• Singaporeans and Permanent Residents – Take up to S$3,000 if your annual income is less than S$20,000, or up to six times your monthly income if your annual income is at least S$20,000.
• Foreigners with an annual income of less than S$10,000 may get up to S$500. If your yearly income is between S$10,000 and S$20,000, you are eligible for S$3,000 loan.
2. Citibank Quick Cash
Citi credit cardholders and Citibank Ready Credit clients may apply for a personal loan. Citibank Quick Cash enables you to convert your available credit limit on your Citi Credit Card or Citi Ready Credit into cash payable in monthly instalments. To be eligible, you must earn a minimum of S$30,000 for Singaporeans and permanent residents and S$42,000 for foreigners. Citi Quick Cash may be used for any purpose.
Through Citi Quick Cash, you may choose a payback period of 12 to 60 months at a low-interest rate. During the loan application process, you may examine the interest rates and payback amount.
If you already have a Citi Credit Card or Citibank Ready Credit, log in to the Citi Mobile® App or Citibank Online to apply. If you are new, you must first apply for a credit card or Citibank Ready Credit. If you are a current client, no further papers are needed. If you are a new client, you must meet the eligibility criteria for a Citi credit card or Citibank Ready Credit.
Time of Approval: 1 to 5 working days
The loan interest rate is 3.4 percent, with an EIR of 6.5 percent.
How much money are you able to borrow?
Your available credit limit will determine it.
3. Standard Chartered CashOne
Singaporeans, PRs, and foreigners holding a Singapore Employment Pass are eligible for this loan.
To be eligible, Singaporeans and PR (ages 21-65) must have a minimum yearly income of S$20,000, and foreigners must have at least an annual income of S$60,000. If you already have a Standard Chartered Credit Card, no papers are needed. It offers a loan with a payback period ranging from one to five years. You may also take advantage of their current offer.
There is no need for extra documentation if you already have a Standard Chartered Principal Card or a CashOne account. If you are a new customer, you will be prompted for further information.
Approval Time: If your application is complete, your loan will be authorised immediately, and you will receive the money within 15 minutes.
Loan interest rate: 3.48 percent, with an EIR of 10.4 percent.
There is no processing charge.
Website: at https://www.sc.com/sg/borrow/loans/cashone/.
How much money are you able to borrow?
If your yearly income is S$30,000 or more, you may borrow up to four times your annual income. Furthermore, if your annual salary is between S$20,000 and S$29,000, you may borrow up to twice your monthly income.
4. HSBC Personal Instalment Loan
Singaporeans and PRs with an annual salary of at least S$30,000 have another personal loan option. It offers one of the market’s most competitive interest rates. It presently provides advertising special interest rates beginning at 3.4 percent, with an EIR of 6.5 percent. You have the option of selecting a tenure period ranging from one to seven years.
If you already have an HSBC Personal Line of Credit, you will apply online. If you are a new client, you may need to apply via their online banking as well. They also provide the option of applying by SMS or phone.
Time of approval: up to 5 days
Interest: 3.4 percent, with an EIR of 6.5 percent.
The processing fee is 1% of the total amount of the accepted payment plan.
What much money can you borrow?
Depending on your annual income, you may borrow up to 8 times your monthly salary.
5. DBS Personal loan
It is a personal loan option available to current DBS customers. You are eligible for an immediate loan if you have a DBS Cashline or credit card or a DBS or POSB account. You may get up to ten times your monthly income. When you apply online, you may receive cash right away. Get an inexpensive fixed repayment with fixed interest rates as low as 3.88 percent per year and a term ranging from one to five years. Please take advantage of their special deals as well, such as earning a 1% cashback.
To apply for a DBS personal loan, you must first log in using an iBanking/mBanking/ATM or credit/debit card. Existing clients are exempt from paperwork requirements. Following that, you will choose your preferred amount and duration. Send your request online to get immediate cash.
Time of Approval: Instant Approval
Loan interest rate: 3.88 percent, with an EIR of 8.99 percent
The processing charge is 1%.
How much money can you borrow?
You may borrow up to ten times your monthly income with a DBS Personal loan.