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What is the Process to Receive a Personal Loan?2021.04.29
What Documents Do You Need To Get a Personal Loan?2021.04.29
8 Mistakes to Avoid When Taking Out a Personal Loan2021.04.29
5 Reasons Why Your Personal Loan Application Is Rejected2021.04.29
How to Repay Your Personal Loan2021.04.29
Which Home Loan Interest Rate Is Best For Me?2021.04.29
What are the terms and conditions for me as a creditor to file a debtor for bankruptcy?
Can I get a house loan if I recently got discharged from bankruptcy?
Can I obtain a housing loan if I have credit card issues?
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?
If I were to borrow money from the bank how will this work out?
I need to loan a big amount of money but from whom?
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