What is a Personal Loan?

Apply now for a personal loan in singapore infographics

Personal loans are loans that are applied and taken for personal use by qualifying people in Singapore. Personal loans in Singapore are means of financing urgent personal needs and expenses. 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 personal loans in Singapore can help you.

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. 118 Credit can provide some financial ease, apply for a personal loan today!

Customized 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

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 Money and Borrow from 118 Credit

Get An Instant In-Principle Approval for your Personal Loan And Collect Your Money On The Spot!

Apply for a Personal Loan with 118 Credit

Split your loan into monthly fixed repayments

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

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.

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 payday loan packages got you covered.

How much can I borrow for Myself?

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 Individual Loans

For borrowers applying for a 118 Credit Personal Loan in Singapore, applicants must be at least 18 years of age and above and have to be either, a Singapore Citizen or Permanent Citizen or a Foreigner with a valid work passes such as Work Permit, S Pass or Employment Pass.

Identification Documents

  • Singapore Citizen / Permanent Resident / Work Pass
  • NRIC (front and back) OR a copy of Passport
  • Any of the following documents if you do not own a house:
    • 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

Income Documents

  • Singpass mobile application for logging into CPF, IRAS and HDB
  • 3 Months Payslips
  • If any, other income documents
  • If any, sale and purchase agreements
  • If any, vehicle registration card / Log card
  • If any, application for Hire Purchase

Process of Application

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!

Finance Options in Singapore

Other than personal loans 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 118 Credit!

How to find us

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