Looking for the best personal loan Singapore right now, but don’t know where to begin? Finding the right loan to suit you isn’t always easy – but we think it should be.
Here at Loan Advisor, we help borrowers compare and contrast the best low interest loans in Singapore in three fast, straightforward steps.
The Biggest Benefits of Using Loan Advisor
Loan Advisor takes the pain out of shopping around for the best loans with low rates, fees, and flexible tenors. With our three-step search and application process you can:
Receive loan approval within five minutes or less
We help you to bypass lengthy bank checks by bringing you amazing deals from licensed money lenders with faster approval processes.
Save valuable time online
Forget scouring the web looking for the best deals – simply tell us what loan amount and tenor you need and we’ll find the best loan in Singapore to match your requirements.
Secure a deal with a top licensed money lender
Our service will only ever connect you with trusted loans from respected money lenders that are fully licensed by the Ministry of Law. We search and compare deals from more than 150 tried and tested lenders.
Avoid the hassle of personal loan applications
Let’s face it, looking for loans during periods of financial difficulty is stressful and filling in endless applications is annoying. Just tell Loan Advisor what amount you need, and we’ll send you three suitable, no-obligation quotes.
If looking for loans in Singapore is driving you crazy, stop right now and let Loan Advisor do the difficult work for you. Compare up to three personal loans right now with our Free Loan Quote service.
Key Personal Loan Features
Ready to compare the best loans in Singapore with low interest rates, but unsure what you’re actually comparing? Here are a few tips from Loan Advisor on what to look out for when trying to decide which personal loan and the loan amount are best for you:
Depending on the loan provider, salary, and credit score, you may get up to 6 times of your monthly salary if your annual income is above $20,000. A decent amount of financial buffer.
Low interest rates
By comparing through our online facility, it’s now easier to know the lowest interest rate that’s suitable for your budget and goals.
Personal loans come with monthly installment and flexible tenure, subject to the terms and conditions of the signed agreement.
Applications can be approved from only 30 minutes to an hour, depending on the loan provider. This is especially important when you need it for emergencies.
Loan Advisor collects and compares the best loans in Singapore and sends you three suitable quotes within minutes. So, what are you waiting for?
How to Apply Today
Here at Loan Advisor, we hate hassle – which is why we want to make your personal loan matchmaking experience as straightforward as possible. Find the most competent personal loan Singapore to suit you in three easy steps:
Step 1: Submit a Personal Loan Enquiry Form to Loan Advisor
Simply share your expectations of the loan amount, tenor, and interest rates in a simple form, click submit then sit back and relax.
Step 2: Receive and compare up to three loan offers
Within five minutes or less, we’ll scan suitable loan offers and amounts from more than 150 licensed money lenders in Singapore and send you the three best quotes.
Step 3: Drop by your preferred money lender to sign the paperwork
Select your perfect match and arrange a quick slot with the lender to finalize and sign any necessary legal documents.
Simple, straightforward and hassle-free
Finding the fittest personal loan with the lowest processing fees and loan interest rates couldn’t be easier. Try out our handy Loan Calculator to see how much you could borrow – and at what interest rate.
Better yet, follow our quick and easy three-step loan application process today and claim your personal cash ASAP. It really is as simple as that.
Why Choose Loan Advisor?
Loan Advisor is a completely free loan comparison and matchmaking service with an unrivaled reputation across Singapore. We empower busy borrowers to make better financial decisions quickly and efficiently. We do this by matching our customers to the best low-interest loans that meet their unique borrowing needs.
We firmly believe that taking out a loan should be as fast and straightforward as can be, which is why we compare loan quotes from not one, two, or three but 150+ licensed money lenders in Singapore to find the perfect loan to suit you.
Our reputation is second to none, with several five-star Google reviews from happy customers – and even more great reviews on our website. We’re the most trusted loan comparison site in Singapore.
Here at Loan Advisor, we have the knowledge, experience, and connections to put you in touch with the best loans Singapore has available. What’s more, we’ll handle your personal data with strict confidentiality and won’t charge you a cent for using our award-winning loan matchmaking service! So, what are you waiting for?
How to Choose the Most Reliable Personal Loan to Suit You
So, you need a personal loan, but you have absolutely no idea what you’re looking for or what to do next? The expert team at Loan Advisor would strongly recommend the following tips to secure a low-interest loan today:
Closely consider what amount you want to borrow
The first step will always be to determine how much you can realistically afford to borrow.
Find a tenor that suits you
Whether you think you’ll need only a payday loan to pay off your loan, or you’re looking for a longer repayment period like a monthly installment loan, Loan Advisor can help you find the perfect deal.
Look for deals with low processing fee
The last thing you need is a personal loan that comes with hidden fees. Shop around for licensed money lender bargains with no hidden fees.
Secure the best interest rate
Not all loan providers offer the same interest rate. It’s important to secure the best interest rate on the market.
Don’t lose sight of overall costs
A loan’s interest rate will always impact the overall amount you’ll eventually pay. Look closely at tenors, fees, charges, and any special offers to save some extra cash.
If shopping around for personal loans sounds like a bit of a headache, let Loan Advisor take care of the hard work for you. Simply fill in a quick form and compare the nation’s best loans today.
Find Your Perfect Personal Loan Right Now
Great loan deals don’t last forever and aren’t always easy to find on your own – especially if you’re looking for the best interest rates. Why waste time scouring the web for suitable loans when Loan Advisor can compare the most solid personal loans Singapore has to offer in the blink of an eye?
Frequently Asked Questions
If you still have questions about personal loans, Loan Advisor has the answers. Check out our helpful FAQs below.
A personal loan is quite simply any Singaporean loan taken out by an individual as opposed to a business. In most instances, personal loans are used for two key purposes, which are
- To repay personal debts (e.g. credit card bills)
- To bridge personal cash flow issues during an emergency
Ordinarily, money lenders in Singapore will allow you to borrow up to 6 times of your monthly salary. However, the actual maximum amount will always vary from lender to lender.
The basic requirements when applying for a personal loan are pretty lax when compared to other types of borrowing in Singapore.
Most banks require a minimum income of $3,000 a month and a solid credit rating before they will grant you a personal loan, but the same isn’t necessarily true of licensed money lenders.
Many of Singapore’s top licensed money lenders require only $1,500 for citizens and permanent residents and a bit higher for foreigners at $2,000 to take a loan.
The Ministry of Law lists which lenders are 100% legit, so you can be sure you’re dealing with a trusted institution.
You must be at least 18 years old to apply, although some lenders require that you must be at least 21.
Try out our loan comparison service today and we’ll find you the most suitable personal loans that fit your eligibility.
In most instances, you will be asked to present the following when you visit their offices to sign your paperwork:
- A Singapore Identification Card, Work Pass or Passport
- Proof of residence (e.g. recent utility bills)
- Proof of income
- Your latest 3-month payslips
- Singpass login details to access their CPF, HDB or IRAS statements*
*Borrowers need login with their Singpass for verification purposes.
Licensed moneylenders can only charge up to 4% interest rates monthly. Other permitted charges include:
- a fee not exceeding $60 for each month of late repayment;
- a fee not exceeding 10% of the principal of the loan when a loan is granted; and
- legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.
For banks, processing fees ranging from 1-4% are not uncommon, while average interest rates sit at around 3.5 to 5%. There’s always ample opportunity to save money by shopping around, especially if you know what you’re looking for.
Still unsure? Use our loan comparison service today to compare the best deals offered by licensed money lenders in all conceivable categories, from interest rate to processing fees and more.
Affordability is the biggest factor above all else. Never borrow more than your realistic means and ensure you are happy with each of the following aspects of your personal loan deal:
- The loan amount and repayment plan
- The interest rate
- Other charges and fees
- The loan tenor and its flexibility
With Loan Advisor, we can get you three trusted quotes within five minutes or less if you fill in our simple online form today. However, once you’ve selected the right personal loan to suit you, you’ll need to arrange an appointment with your preferred money lender to sign all the necessary paperwork. This is a standard requirement under the Ministry of Law’s rules.
Realistically, you can expect to have your loan approved and cash in hand within just an hour, assuming you are able to organize this appointment promptly and pass any eligibility checks with no issues.
Usually, you will be able to choose exactly how much time you need to pay off your personal loan. Most loan providers will offer a variety of tenors, depending on whether you are looking at payday loans or longer-term borrowing. We recommend opting for the shortest tenure with the most manageable monthly repayments wherever possible.
Personal loans in Singapore are ordinarily based on monthly repayments, so you’ll start paying off your borrowed loan amount with interest pretty quickly. In some cases, you can opt to pay off your loan early and this can help you to save the cost of borrowing as well.
Yes! With Loan Advisor, you can compare and apply for great personal loans with the click of a button – just by filling in our straightforward online form. However, licensed money lenders in Singapore will require you to make an appointment and visit their offices in person to sign your paperwork and get your cash. Most money lenders will approve personal loans instantly on-site.
Many licensed money lenders in Singapore offer specialized foreigner loans to non-Singaporean citizens. These loans are very similar to standard personal loans. Always check with your preferred money lender – or simply get free loan quotes with Loan Advisor today.
Interest rates will always vary and can fluctuate with very little notice. The deals available today might not be available tomorrow, and vice versa. Secure the best rates now by filling in Loan Advisor’s quick online form and comparing the top personal loans currently available.
Loan Advisor is a completely free loan comparison site offering quick and easy access to personal loans with low interest rates from various trusted loan providers in Singapore.
If you need a personal loan to suit your unique requirements, but you don’t have time to go shopping around, try out our instant comparison service today. We’ll secure you the excellent personal loans with low-interest rates and fast cash right now.