Complete Guide to Loan

Latest news and tips about all thing of Loan. And you can also check forum and review about Loan.

Confused About Financial Products?

You can chat directly and receive the best offers from the experts.

Latest Articles

Latest Forums

What are the terms and conditions for me as a creditor to file a debtor for bankruptcy?

When the Bankruptcy order was signed,creditors are given the choice to file their debtors for bankruptcy if they meet the following conditions: The debtor failed to comply wit a statutory demand to pay the debt for at least 21 days and the debtor failed to comply with a court issued execution. Debtors who also fled the country could also be subjected for filing.

Can I get a house loan if I recently got discharged from bankruptcy?

Most financial institutions would usually do a background check but there is no need to fear. If you just go discharged this year then it might be hard but it doesn't mean that you'll never be able to get a housing loan. Financial institutions will consider approving your housing loan but you wil need to be discharged from bankruptcy for at least a year or two.

Can I obtain a housing loan if I have credit card issues?

Like in most financial institutions your bad credit record would definitely affect your eligibility to obtain a housing loan because it would be harder for those financial institutions to trust your capacity to pay off your debt. You need to at least have a clean credit record for at least 6 months before you get approval from financial institutions.

I have debts that need to be paid would it be a good idea for me to use a personal loan in order to pay these debts?

Just as long as the interest rates are not that high and that loan isn't going to be lasting long without it being paid, then I say it is a matter of priority of whether you should get a loan because if all else fails and you fail to pay the loan immediately, the interest rates will get you otherwise and you will be under twice the amount of debt that you started with, ofcourse it can be helped just as long as you responsibly find out the set backs of having a personal loan and if you are able to handle of paying the said loan when the need arrives

If I were to borrow money from the bank how will this work out?

Well whenever you borrow or loan from the bank there will be given a limit to that loan and when you should pay for that specific loan, ranging from months to even a year, but the inability of you being able to pay at the due date will result in a higher amount of interest the following month compared to your payment dues during the deadline. Everytime you will decide to borrow from the bank there will always be an interest in general and you will have to pay for it with an added amount next time around. Hope I helped goodluck in affording that new car!

I need to loan a big amount of money but from whom?

Singapore banks can help with your loan. They give you a small interest rate. You can search online what banks offer loans. You can compare them now. There are some sites that lets you compare the loans of banks that are can make you at ease, You just need to make sure that your salary income meets there requirement.

Latest Reviews

Quick Cash has the lowest published interest rates on the market and no processing fees

Citi Personal Loans / Citibank Singapore

The Citibank personal loan also known as Quick Cash, has the current lowest published interest rates on the market and also no processing fees, although with the caveat that the promo rate is for new-to-Citi customers or you don’t have a Citibank credit card. If you are in need of money fast, Citibank promises approval of your loan within one hour but subject to eligibility. Upon approval, funds will be deposited the next working day if to a Citibank account or up to 5 working days later for non-Citibank accounts.

HSBC personal loan offers the longest loan tenure of 7 years in Singapore

HSBC Personal Loan / HSBC Bank Singapore

If you need to borrow a large amount but cannot afford a big monthly repayment, then you should give consideration to the HSBC Personal Loan. This HSBC personal loan offers the longest loan tenure of 7 years in Singapore which means you’ll be paying 7 years’ worth of interest. HSBC is also great for those who need cash urgently as you can get approval-in-principle within one minute and receive the money the next working day. Isn’t that just wonderful?

MoneySmart exclusive rate of 3.5% (7.27% p.a.) for new loan customers with only 1% processing fee

OCBC ExtraCash Loan / Oversea-Chinese Banking Corporation

The OCBC ExtraCash Loan is a true personal loan as it allows you to borrow up to 6X your monthly salary. However, I must warn that the interest rate is kinda high. If you don’t require that much money, I recommend that you consider the OCBC Cash-on-Instalments loan which is slightly cheaper. However currently with OCBC personal loan, you can get a MoneySmart exclusive rate of 3.5% (7.27% p.a.) for new loan customers with only 1% processing fee. For existing loan customers, you pay an interest of 4.7% p.a. (EIR 9.46% p.a.).

DBS personal loans are based on either your credit card or personal line of credit

DBS Personal Loan / DBS Bank

DBS personal loans are based on either your credit card or personal line of credit. Thus if you have DBS credit card or DBS Cashline and a DBS deposit account, you can apply through internet banking and get your loan processed immediately and credited instantly into your account. However if you don’t have a DBS credit card you can still get this loan, but you will have to furnish your income documents and obviously you won’t get the funds right away

You can actually apply for a credit card and personal loan at the same time

UOB Personal Loan / United Overseas Bank

To apply for a UOB Personal Loan, you’ll need either a UOB CashPlus account or UOB credit card as UOB draws from your credit card limit. If you’re new to UOB, you can apply for a credit card and personal loan at the same time but note that terms & conditions like the fee schedule of the credit card will also apply to your UOB Personal Loan. UOB bank is one of the few banks that provide instant approval for personal loans for submissions between 7am to 8pm by new UOB customers.

$199 cashback for loans of $1,000 and above if you apply through MoneySmart

Standard Chartered CashOne Personal Loan / Standard Chartered Bank Singapore

Although standard Chartered personal loan’s published rates aren’t that awesome, you still get a much lower interest rate as well as $199 cashback for loans of $1,000 and above if you apply through MoneySmart for your loan amounts of $1,000 to $250,000. Like most of its competitors, Standard Chartered Bank promises next-day cash. You can apply via MyInfo via MoneySmart to get instant approval and loan disbursement