18 June 2024

Written by Alwin Goh

Taking best personal loans in Singapore can be something worth considering. This is essential to help you reach your financial goals.

Before applying for a low interest personal loan in Singapore, let’s explore more about it. Let’s find out whether or not it can cater to your needs and help you achieve your goals.

Infographic on the pros and cons of taking a personal loan in Singapore

One advantage of taking a personal loan is the faster processing time

What Is A Personal Loan?

A personal loan is an unsecured fast cash loan in Singapore. It’s “unsecured” because it’s not bonded to collateral — a house, for example.

This means that the lender doesn’t possess the right to seize your assets when you’re unable to pay back the loan.

Conversely, the common “secured” loan is a mortgage loan, in which the lender is capable of seizing your assets when you fail to pay your debt.

Still unclear about a personal loan? Learn more about how it works here. 

How Does Personal Loan Work In Singapore?

Taking a personal loan means that you will receive a lump sum of money first based on the approved loan amount.

When it comes to repayment, it does not only stop by paying just the lump sum. Interest and other fees are also included. The total amount of money must be repaid within a specified time period by your lender.

Most personal loans such as personal instalment loans have fixed interest rates and repayment periods. This simply means that you need to repay it on an instalment basis that can span from months or over years.

Thus, being fully amortised, allows the borrower to repay the interest rate plus the principal amount. With an amortised loan, it does allow the borrower to prepare for their repayment schedules.

Do You Really Need A Personal Loan?

It’s good to consider taking a personal loan, particularly when you need to get a relatively large sum of cash urgently or looking for a fast cash loan in Singapore. Despite the need to pay it off over a period of time, it’s still a viable alternative to meet your short-term needs.

Before you apply for a low-interest personal loan in Singapore, ensure that you’re able to pay back your debt.
Here are some common reasons in which a personal loan may come in handy.

Medical And Family Emergencies

While it’s always good to save up a good sum of money for a rainy day, accidents and other emergencies are often unpredictable.

You may never know when you need that extra financial support for yourself or your family. Even after you’ve saved up some money, it may not be sufficient.

Hence, in these scenarios, a personal loan can aid in cushioning these emergencies, and give you a longer buffer time to restructure your financial plans.

Wedding And Vacations

A bride and groom hugging each other at their wedding

Consider taking a personal loan to pay for your wedding banquet

Besides emergencies, a personal loan can also be used to pay for the biggest events in your life. Whether it’s to celebrate your special day with your partner or to go for a holiday, you can consider taking up a loan to pay for these expenses, especially given how expensive a wedding can be in Singapore.

Learn more on how you can use a personal loan for your wedding here. 

Planning for a trip soon? Find out how a personal loan can cover your vacation expenses.

Debt Payments For Credit Cards

A personal loan is also a viable option to pay off your credit card debt. It’s not advisable to do this in the long term though, so it’s equally important to ensure that you spend within your means.

Education Expenses: College Tuition And School Textbooks

On top of that, if you’re a student, you may also adopt a personal loan that’s catered to your needs. Whether or not you require extra cash for textbooks or tuition fees, a personal loan can help support your education.

Consolidate Debts

A personal loan, such as a balance transfer and Debt Consolidation Plan, is also useful in consolidating your debt into one manageable account. Through these 2 types of personal loans, you can pay a fixed amount monthly at interest rates that are reasonably priced.

Do take note that the personal loan interest rates and other terms are still subject to your annual income and other supporting factors. Be sure to compare the interest rates and criteria of personal loans offered by various banks and financial institutions in Singapore.

What Should You Take Note Before Taking Up A Personal Loan In Singapore?

Before you apply for one, it’s good to understand what it entails. While a personal loan allows you to get quick cash, it comes with interest rates.

Advantages Of Personal Loans

Here are some of the good things about taking a personal loan.

Fast Processing Time

It’s a viable option for you to borrow money quickly, particularly in the case of an emergency. You can get a loan within a day to a week of your application. In addition, the documents you have to submit is also less as compared to applying for other types of loan.

No Collateral

Unlike a mortgage loan, you won’t risk losing an asset such as your house when you default on your payments. Since a personal loan is an unsecured loan, it’s not tied to an asset.

Fixed Interest Rates

The interest rates charged for the money you borrow are fixed. This is unlike credit cards, in which the interest rates can vary depending on your balance.

Disadvantages Of Personal Loans

However, like all things in life, a personal loan comes with drawbacks.

High-Interest Rates

A personal loan is typically charged with a higher interest rate than a secured loan. In some cases, its interest rate can be higher than some credit cards.

Age And Income Requirements

In general, you must be at least 21 years old and no older than 65 years old to take up a personal loan.

Most banks in Singapore will also require you to have a minimum income of S$30,000 per annum. While some offer personal loans to people who make less than S$30,000 a year, they’re subjected to a higher interest rate.

If you’re a foreigner, you’ll need to have an annual income of at least S$40,000 to S$60,000 when taking a personal loan from a bank in Singapore.

However, at Crawfort, even if you have an annual income of less than S$10,000, you can still borrow up to S$3,000. If you’re a foreigner living in Singapore under the same income bracket, you can borrow up to S$500. Here’s a table to summarise how much you can borrow from a licensed money lender in Singapore, such as Crawfort.

Annual income Maximum loan amount
Singaporeans and Permanent Residents Foreigners living in Singapore
Below S$10,000 S$3,000 S$500
S$10,000 to less than S$20,000 S$3,000
S$20,000 and above 6 times of monthly income

 

What Else Do I Have To Consider Before Applying For A Personal Loan?

Besides weighing the pros and cons, here are a few things that you should keep in mind when taking a personal loan in Singapore.

Be Sure To Plan Ahead

Before you apply for a personal loan, ensure that you’re able to pay back your debt.

Keep in mind that this debt doesn’t only comprise the sum you’ve borrowed initially, but also the interest and any additional charges. Paying your debt on time helps you to maintain a good credit score.

A credit score reflects the health of your financial state and the risks of lending you money as a customer. The better the credit score, the more trustworthy you are as a borrower.

On the other hand, defaulting on your payments can negatively impact your credit score. When this happens, you’ll have a lower chance of getting your loan applications approved in the future.

Got a bad credit score? Find out how you can still get a personal loan despite having a low score. 

Manage Your Finances Wisely

Whether or not you’ve taken up a loan, it’s important to manage your finances. Be sure to budget wisely and only borrow within your means.

During the application, choose a repayment schedule that you can commit to. Regardless of the instalment frequency (e.g. weekly, monthly, etc.) you’ve chosen to pay back your debt, be sure to manage your budget accordingly.

This helps to ensure that you can pay back your loan in a timely manner.

Explore Alternatives

While a personal loan may seem like the best option you’ve got, you may also consider borrowing from your family and friends. Talk to them about your goals and plans, and reassure them that you’re able to pay them back.

Should You Take A Personal Loan from Banks Or Licensed Moneylenders?

You might come to this point where you have decided that you need a personal loan. You’re now on the hunt for where you should get a personal loan. Is it best to go for banks or take out from licensed moneylenders?

The Advantages Of Taking the Best Personal Loan From Licensed Moneylenders

Fast & Easy Online Loan Application

As they take advantage of the technology, licensed moneylenders are now using online application forms. You will just fill in the form with your initial details e.g. your I.D. type, monthly salary, and loan request. Simple steps are needed to follow. Take for example Crawfort, there are just 3 simple steps to follow: first is to apply via MyInfo, then, check your results, and finally collect your loan.

Saves Time

With the existence of an online application, you don’t need to go down to the office of a licensed moneylender. This means that you can save time and can apply even in the comfort of your home. A time saver when especially when you need an urgent loan in Singapore.

Notable For Fast Approval Loan

Most licensed moneylenders are notable for their fast approval loans in Singapore. Only minutes of waiting to see your loan approval status. Crawfort is also notable for 8-minute loan approval. Therefore, no more long days to wait to collect your loan.

Easier Eligibility Requirements

Unlike banks that need you to have at least S$30,000 annual salary, a licensed moneylender can allow you to borrow even if your annual salary is less than S$10,000.

Ideal For Urgent Needs

Emergencies do come unexpectedly. Accidents and disasters may come at any time. In reality, handling this situation may need you to take some loans. Getting a personal loan from a licensed moneylender is a life-saver. Your fast cash loan can be collected within the day; Thus, it can answer your immediate need for money.

Lower Rejection Rate

Your personal loan has still the chance to be approved even if you have a bad credit score. You don’t have to worry about applying for a personal loan if you have a bad credit score. Licensed moneylenders will look at the moment your capacity to repay

Short-term Loan

Licensed moneylenders also specialises in offering short-term loan. This means that you can pay much lesser interest compared to committing to a long-term loan where you need to pay more interest.

The Disadvantages

Lower Maximum Loan Amount

The maximum loan amount you can take from a licensed moneylender is up to 6x your monthly salary unlike with Banks you can borrow up to 10x times your monthly salary.

Higher Interest Rates

Since licensed moneylenders are less strict when it comes to loan eligibility, this comes with a higher interest.  The interest rate is much higher compared to banks.

But, remember to take a loan from a licensed lender to avoid getting the worst interest rate e.g. those offers coming from a loan shark or “Ah long”. Licensed money lenders are regulated by the Registry of Moneylenders – Ministry of law, thus they can only charge an interest rate of up to 4% per month.

To get the advantages of getting a personal loan from a licensed moneylender, it is essential that you are knowledgeable on how to differentiate a legal lender from a loan shark.  Learn more about the differences between licensed vs unlicensed moneylender.

The Advantage of Taking Personal Loans from Banks

Higher Maximum Loan Amount

If you wanted to borrow up to 10x your monthly salary, taking a loan from a bank is the best option. An ideal answer especially if you need a larger sum of money.

Taking Advantage of Online Application

Most of the banks right now are taking advantage of using their website for loan applications. Borrowers can avoid queues and can experience convenience while applying even in the comfort of their homes.

The Disadvantages

Stricter Loan Requirements

Since they provide higher loan amounts compared to licensed moneylenders, banks are more stringent when it comes to checking the credit profile of every borrower. You need to have at least a S$30,000 annual income to apply.

Longer Approval Time

Credit Evaluation can take time. They will need to look at your credit score and other eligibility requirements. Thus, approval of your loan may take days. So, if you are asking right now where best to get a personal answer, you need to consider your annual salary and the amount you need. If your annual salary is lower than S$30,000, don’t be sad, licensed moneylenders are open to serve you.

Learn more about the differences between borrowing from a bank and a licensed moneylender here. 

How to Choose the Right Personal Loan?

When you are now decided to take a personal loan in Singapore either from a licensed money lender or bank, you might be asking right now if what is the right personal loan offer for you. Below are considerations in coming up with the right decision.

Which is the best interest rate?

When taking a personal loan from a licensed moneylender, you have to consider that the interest rate must not be above 4% per month. Since there is a wide range of lenders, you can shop around and find the lowest-interest possible. Taking a loan from a bank, you have to look over its effective interest rate (EIR) rather than the advertised interest rate. EIR is considered the “real interest rate” it includes processing and other fees.

What is the ideal loan amount?

Both banks and licensed moneylenders can give a higher loan offer. Banks can provide up to 10x your monthly income while licensed moneylenders can give you up to 6x your monthly salary. It is still recommended that you get the lowest loan offer or will be based on your capacity to repay. So, it is right if you start to get to know your financial condition.

What to look for about the repayment schedule?

Although both lending institutions can offer flexibility in terms of your repayment plan, it is advisable to get one that is manageable. Remember to read and understand well the Note of Contract since late repayment entails late interest and repayment fees.  This can also affect your loan and your credit score.

What is the right loan tenure?

You have to remember the ideal loan tenure is the shortest possible since with this you can pay a much lower interest rate compared to the longest tenure. Take into consideration also your financial condition, it is best that it will align with your capacity to repay.

Thinking of taking a personal loan soon? Learn more on what to consider here. 

Need More Help?

Here are the commonly asked questions that can help you with your personal loan application journey.

Can I take a personal loan if I have a bad credit score?

Yes, this is possible, most of the licensed moneylenders have specialised offers for those who have a bad credit score. Your loan application has still the chance to be approved even if you have a bad credit score. If you got approved, it is ideal that you start first with the lowest loan offer and repay it on time to improve your credit score.

Are personal loans good for my credit score?

When you are a good debtor, repaying a personal loan on time can help you improve your credit score. Remember, you need to be a responsible borrower to take advantage of the personal loan.

What Documents Do I Need For The Application?

Here are the documents that you’ll need to provide when applying for a personal loan in Singapore:

  • Proof of identity: Singapore Identification Card (IC) or Employment Pass (EP) and passport
  • Proof of address: Documents showing your residential address (e.g. utility bills with your residential address)
  • Proof of income: Your contribution history statement to your Central Provident Fund (CPF) for the last 12 months, latest income tax Notice of Assessment, latest computerised payslip, or salary crediting into the lender’s bank account (if you’re applying at a bank)

How long does it take to get my personal loan approved?

With a licensed moneylender, it can only take minutes to get your personal loan approved. Thus, they are known for disbursing fast cash loan offers. At Crawfort, loan approval can only take 8 minutes.

So, Are You Now Ready to Take Up the Best Personal Loan in Singapore?

Before you apply for the best personal loan in Singapore, be clear about your motives for applying. It’s also important for you to consider the pros and cons of taking a personal loan, as well as any other advantages and disadvantages based on your own circumstances.

As you go ahead with your plans, be mindful of your spending and borrowing, and only do so within your means.

When in doubt, speak to your peers — whether they’re a legal financial advisor or your family and friends. They might be able to advise you and give you a helping hand when you need it.

Apply now for a personal loan with Crawfort!

A Personal Loan In 8 Minutes.
That’s how fast it takes.

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Yishun, formerly known as Nee Soon, is one of the best spots in Singapore that offers a perfect mix of tradition and modernity. But it isn’t just a place – it’s a community. And just like any community, especially one that is part of the most expensive city in the world, financial hurdles are part […]

Personal Loan
Taking Control Of Your Finances Through MLCB Self-Exclusion

Have you ever felt trapped in a debt cycle? If so, you already know that it can take its toll on your life and relationships. Borrowing can be an addiction that causes harm not just to your finances, but also to your well-being. If you need a way to break free from this compulsive behaviour […]

Personal Loan
How Does Bridging Finance Work in Singapore?

As your family grows, you might plan to buy a bigger property and sell your existing home. As you are still in the process of selling your property, your funds may not be enough. Your savings might not be enough to cover the expenses of buying a new home. Moreover, borrowing from family members or […]

Blogs and Opinions
Guide To Finding Best Cheap And Good Renovation Contractors In Singapore (2024)

When it comes to home renovations, choosing your contractor can make or break the entire project. Contractors manage projects, coordinate with skilled workers, and monitor that the renovation work is completed on time and within your budget. Considering its importance, picking out the affordable and reliable contractor is something you shouldn’t take lightly especially because […]

Personal Loan
Licensed Moneylender In Jurong East: Go-To Guide Borrowing A Personal Loan

Jurong East is a small yet vibrant neighbourhood in Singapore. This is among the places in Singapore that boast attractions like the renowned Jurong Bird Park, home to over 3500 birds, and the Singapore Discovery Centre. Delight in family-centric amenities, such as KidSTOP at the Science Centre, a dedicated play zone offering various activities and […]

Blogs and Opinions
Licensed Vs Unlicensed Money Lender In Singapore: What’s The Difference?

Life can get pretty unpredictable. Sometimes, you might find yourself in need of quick cash, but your savings is not enough. You may have thought about taking up a loan from the bank, but what if you can’t get across the red tape? The paperwork, the waiting period, and the anxiety of not knowing whether […]

Personal Loan
How To Get A Motorcycle Loan In Singapore?

For many Singaporeans, motorcycles are the most convenient mode of transportation. Not only is it significantly more affordable compared to cars, but it’s also more convenient to maintain. That said, not everyone can pay for a motorcycle upfront – either you still haven’t saved up enough money or just don’t want to touch your savings. […]

Personal Loan
What Are Monthly Instalment Loans In Singapore?

Ever heard the term “instalment loan” thrown around but wondered what it means? Don’t worry, you are not alone. Borrowing can definitely be overwhelming at times, especially when you encounter unfamiliar terms and concepts. However, understanding the ins and outs of instalment loans is essential for anyone seeking financial assistance in Singapore. To better understand […]

Personal Loan
What Are The Interest Rates and Fees A Private Moneylender Can Legally Charge?

Sometimes, we may face financial emergencies or require quick cash for unexpected expenses. In these challenging times, borrowing from a moneylender can be an ideal way to get the needed funds. However, before taking out a loan, it is vital to understand the interest rates and fees that private moneylenders can charge in Singapore. In […]

Personal Loan
CPF Personal Loan: What Is It? Eligibility and Requirements

Singapore is the most expensive city in the world to live in. This is extremely daunting for the average person who is struggling to make ends meet. With the rising cost of living, unexpected expenses can easily throw off anyone’s budget. When emergencies pop up, needing cash right away can feel super stressful. This is […]

Blogs and Opinions
How to Deal With Loan Shark Harassment In Singapore: 5 Ways To Deal With It

With the reputation that loan sharks in Singapore have, most of us wouldn’t want to deal with them in the first place.   But perhaps desperate times have called for desperate measures. You needed money during a time when no bank or financial institution was willing to offer you a personal loan. With limited options to […]

Personal Loan
How To Check Credit Score In Singapore?

When it comes to loan applications, your credit score or credit rating significantly influences the likelihood of approval. Major loan providers such as banks consider it a primary factor in assessing your eligibility for a loan.  A favourable credit score suggests a high likelihood of loan approval, whereas a low credit score makes it challenging […]

Personal Loan
Complete Guide To Short-Term Loans In Singapore

There could be a situation where you urgently need cash to tide over an unforeseen situation. One solution to consider is applying for a short-term loan in Singapore. In this article, we’re going to share with you all you need to know about short-term loans in Singapore. What’s A Short-Term Loan? A short-term loan usually […]

Personal Loan
How Personal Loans In Singapore Can Be Useful For Grab And Taxi Drivers

The past few months have been difficult for many people in various industries. Most businesses, especially in the service industry, have been badly affected by the COVID-19 social distancing measures. Taking a personal loan in Singapore is one option to get through this tough time.  Ever since the outbreak began, less people have been going […]

Personal Loan
Renovation Loan Vs Personal Loan In Singapore For Home Renovation: What’s The Difference?

The priciest thing you can buy in Singapore is probably your home. Even if you don’t mind a rugged aesthetic, minimalistic, or industrial look, basic renovation is still necessary for installation of electrical endpoints, tilework, paintwork, and so on.  If you’ve done the maths, you’ll realise that renovations can cost an arm and leg. However, […]

Blogs and Opinions
How To Get An Instant Cash Loan In Singapore

Are you going through an emergency that requires quick cash? Then you might want to consider getting an instant cash loan in Singapore. Getting an instant loan can help to solve your urgent financial needs. Since you can get them fast, you’ll be able to solve your issues as quickly as possible.  How do you […]

Personal Loan
An Essential Guide To Personal Loan In Singapore: What It Is And How To Apply

Whether you need a helping hand to achieve a resolution you’ve set for the year, or you’re in urgent need of money, getting a personal loan in Singapore from a licensed moneylender may come in handy.  But before you apply for a personal loan in Singapore, here are some important things that you need to […]

Blogs and Opinions
5 Ways To Improve Your Credit Score At The Credit Bureau Singapore

Ever wondered what affects your loan applications? Or why some of your credit card applications were rejected?  It’s likely because of your credit score. A bad credit score can affect your applications for personal loans and credit cards. But what’s a credit score? How do you check it, and how can you improve your credit […]

Personal Loan
4 Types Of Personal Loan In Singapore You Should Know

It is tough sometimes when we land ourselves in unexpected situations that require immediate financial assistance, such as medical emergencies or investment opportunities. At times like this, taking out a personal loan in Singapore could be a viable option to ease your financial burden.  A personal loan is a type of unsecured loan that does […]

Personal Loan
What To Do If I’m Unable To Pay My Credit Card Bill?

Encountering financial difficulties, whether due to unexpected expenses or a job loss, can lead to challenges in paying off credit card bills. This might prompt the question: “What can I do if I’m unable to pay my credit card bill?” Failure to clear credit card bills can result in escalating debt. It’s crucial to understand […]

Personal Loan
Tuition Fee Loan In Singapore: What Is It And How Does It Work?

Despite the government’s provision of a tuition fee grant, the cost of tuition continues to rise annually. In fact the average annual education inflation rate in Singapore was about 2.86% for a 20-year period (2002-2022). Moreover, it was reported that the school fees will increase from 2024 to 2026 for PR and international students. So, […]

Personal Loan
What It Means To Be A Loan Guarantor in Singapore?

Certain types of loans in Singapore need guarantors since they carry higher risk of default for lenders. For instance, car loans, education loans and business loans, in place of collateral. It can be a requirement when applying for a loan in Singapore. Therefore, before you sign-up to be a guarantor of your friend or your […]

Blogs and Opinions
What Happens When You File For Bankruptcy In Singapore?

From January 2020 to May 2020, there have been 1,481 applications for bankruptcy in Singapore and 404 orders made — a significant number considering the short 5 months span.  Bankruptcy, in short, is when you owe more than you can afford to pay. There are also a number of technicalities involved. Filing for bankruptcy in […]

Blogs and Opinions
10 Easiest Ways To Get A Credit Card Approved in Singapore

Owning a credit card in Singapore has a lot of perks. It offers a convenient way to purchase online or in person. Even if you’re short on cash for the month, you can still purchase big-ticket items or gadgets that you want since it allows you to buy now and pay later. Moreover, some of […]

Blogs and Opinions
Saving Money In Singapore: Easy Ways To Grow Your Savings

If you often find yourself living paycheck to paycheck despite your best budgeting efforts, you’re not alone in this situation. Overspending is a common challenge that many individuals face. No matter how meticulously you track your expenses, the temptation of impulse buying might occasionally mislead us. The fact is that since we are all imperfect, we […]

Personal Loan
5 Reasons Why Your Personal Loan Application In Singapore Was Rejected

Perhaps it’s a time right now when you require extra financial support for your needs—for an emergency, for a dream vacation for you and your partner, or even for a plan to move forward and venture out of your comfort zone. However good your reasons may be, you may have faced problems having your personal […]

Personal Loan
Guide to Peer to Peer (P2P) Lending in Singapore

Peer-to-peer lending or P2P lending is a part of financial innovation that originated in the UK in 2005. It has become an investment and lending platform that has reached major financial markets worldwide, and Singapore is no stranger to P2P lending. It has adopted this FinTech tool for borrowing and lending money. In this guide, […]

Personal Loan
How Do Home Renovation Loans Work In Singapore?

Considering a home renovation project this year, but falling short on your savings? You might consider getting a home renovation loan. Without sacrificing your objectives, this type of loan is designed to assist you in funding your home improvements. But, how do home renovation loans in Singapore work, and what should you take into account? […]

Personal Loan
Can You Get A Personal Loan Without Income Proof In Singapore?

If you’re in a financial jam, you want to get a personal loan as quickly as possible. But what if you don’t have income proof? In this article, we share with you some useful tips on how you can get a personal loan in Singapore without standard income proof like payslips.  But before we dive […]

Personal Loan
Are You Eligible For A Personal Loan In Singapore?

When we’re short on cash, most of us will consider borrowing from friends and family members. However, if you don’t want to trouble them, how about taking a personal loan instead? A personal loan is a lump sum of money borrowed from a bank or licensed money lender. You’ll need to pay it back over […]

Blogs and Opinions
When Should You Consider Taking A Personal Loan Over A Renovation Loan In Singapore?

Now that you’ve collected the keys to your new home and browsed countless web pages for decor inspiration, it’s time for the next step. Imagine, after a long day at work, going back to a home that’s furnished and personalised just the way you like it. Isn’t that exciting? That is until you realise the […]

Personal Loan
Personal Loan Broker In Singapore: What You Need To Know

While many people still go directly to their local bank to seek financial assistance, many people have turned to personal loan brokers for a more customised and efficient approach to borrowing money. This proves that personal loans have gone beyond the confines of traditional banks. In this article, we will discuss personal loan brokers in […]

Personal Loan
Emergency Payday Loans from Direct Lenders: A Comprehensive Guide

Life is full of challenges and unfortunately facing sudden financial trouble is part of it. You may be facing a sudden medical emergency, car repair or the need to replace a broken appliance which may require quick cash to cover these emergencies. In these unexpected events having an emergency payday loan from a direct lender […]

Personal Loan
What Happens if You Don’t Repay Your Personal Loan in Singapore?

If you’re using a personal loan in Singapore for a big ticket expense, home renovation or to fund some emergencies, it’s probably because your savings is not enough to cover it. And while repaying the loan is usually the last thing on your mind when you take out the loan in the first place, missing […]

Personal Loan
Should You Take A Personal Loan In Singapore For Home Renovation?

Whether you want to increase your property value or simply enhance the aesthetics of your house, you need a home renovation. However, loan renovations can be costly and you may not be able to do up your dream house should you lack funds. Now, the good news is that you have alternative options to help […]

Personal Loan
How To Pay Off Multiple Payday Loans

When your bills and emergency expenses pile up, it can be hard to resist the temptation of payday loans. Although these loans can be a helpful remedy for tough times, they also have the potential to trap you in overwhelming debt. Thankfully, there are tons of ways to help you get back on track financially. […]

Personal Loan
How To Clear Credit Card Debt With A Personal Loan In Singapore

Credit cards have a lot of benefits. Not only do they boost your spending power, but they’re also very convenient since you don’t need to keep drawing and carrying cash. However, for the convenience they offer, you run the risk of incurring high interest and accumulating debt quickly. What should you do when you find […]

Blogs and Opinions
How To Pay My Credit Card Bills (DBS, UOB, OCBC And Other Banks)?

Today, you can take advantage of various enticing credit card deals that offer benefits like bonus miles and up to 10% cashback. These deals can maximise your financial benefits and transform each transaction into a rewarding experience. Despite these benefits, you must pay your credit card account on time. Just like with other types of […]

Personal Loan
Personal Loan Calculator In Singapore: Why You Should Use One And The Benefits

Personal loans are an alternative for big-ticket purchases or immediate financial emergencies. But before taking up a loan, most of us would be curious as to how much everything would cost in total. One way to find out is to use a personal loan calculator in Singapore to work out the sum.  So, what are […]

Personal Loan
What Are The Alternatives To Personal Loans In Singapore For The Unemployed?

When we need cash, some of us consider taking personal loans to get through the tough period. Unfortunately, it can be difficult to get a personal loan in Singapore when you’re unemployed.  Don’t worry, though. There are alternatives to personal loans in Singapore that you can take up, even if you’re unemployed. This article is […]

Blogs and Opinions
How Does Credit Counselling And Debt Management Programme Work?

Have you ever found yourself struggling in debt, with no one to turn to, and all hope seems lost? In those situations, where can you get help? Well, there’s an answer for that: credit counselling. It’s alright if you don’t really know what it is. Not many Singaporeans are familiar with the concept of credit […]

Personal Loan
Total Debt Servicing Ratio (TDSR): What Is It and How It Affects Your Personal Loan Application?

One major factor that makes a huge difference in whether you get approved for a personal loan is your total debt servicing ratio. If you haven’t heard this concept before, it might seem complicated, but don’t let it scare you. To put it simply, your TDSR is just a way to figure out if you […]

Blogs and Opinions
Credit Card & Unsecured Loans Credit Limit In Singapore: All You Need To Know About Increasing It

Are you cash strapped and in need of extra credit for your big-ticket purchases? Are you considering increasing the credit limit on your credit card or unsecured loan but aren’t sure how to? In this article, we will share with you everything you need to know about increasing your credit card limit in Singapore. We […]

Blogs and Opinions
Licensed Money Lender Vs A Pawn Shop In Singapore: What’s The Difference?

Something sudden happens and you find yourself in urgent need of cash. You might be considering borrowing from the bank, but they might take a long time to approve your loan. So, you start looking for alternatives to get a fast loan in Singapore. When it comes to getting quick cash in Singapore, 2 options […]

Blogs and Opinions
How Much Can I Borrow From A Money Lender & What I Need To Note?

The cost of living is high in Singapore. There are times when we inevitably run into money problems and need cash to tide over difficult periods. For some, it could be money needed to last until their next payday, more money for their wedding, home renovation, or for a financial emergency. According to the Credit […]

Personal Loan
Loan Scams In Singapore: How to Protect Yourself from Personal Loan Scams

As of 14 October, the police warned the public about the return of loan scams involving fake emails from banks and government agencies in Singapore.  Between 1 September and 4 October 2021, there were 17 victims losing a total of over $130,000. While the Police have suggested ways to help combat scams, it is important […]

Personal Loan
Financing Your Home Renovation: Personal Loans In Singapore, Renovation Loans, And More

Just collected the keys to your new house? Buying a house is most likely the largest purchase in your life. After getting the keys, you’ll want to renovate it to turn it into your dream home. In this article, we look at renovation costs, what affects it, as well as financing options like a renovation […]

Blogs and Opinions
Effective Interest Rate: A Simple Guide (EIR) For Borrowers

Whether you’ve taken a personal loan before or not, interest rate is a term you’re sure to have heard of. But did you know there are usually 2 types of interest rates when you take out a loan? There’s the advertised rate, and the effective interest rate (EIR). So why are there 2 interest rates […]

Personal Loan
Multiple Personal Loans: Can You Take Two Personal Loans At The Same Time?

Even after taking a personal loan, unexpected financial events can force you to take another one, especially during this Covid-19 pandemic. And, you may be asking if it is possible to take two personal loans? A personal loan is an unsecured amount of money. It is referred to as unsecured because it does not require collateral. The […]

Blogs and Opinions
Credit Counselling In Singapore: All You Need To Know

Not many Singaporeans know about credit counselling. Mention “credit counselling” to people, and you’re more likely to be met with blank stares. Explain that it’s about discussing debt management with a financial counsellor, and they might reel away in shock. The topic on debts is often so private that most people shy away from the […]

Personal Loan
How To Get The Best Personal Loan In Singapore To Help Make Your Dream Vacation A Reality

Are you planning your next dream vacation as more countries now allow tourists for the first time in two years since the start of the COVID-19 pandemic? Did you then realise that you may need extra cash as your travel funds are insufficient? If so, you’ve come to the right place! Read on. You will learn […]

Personal Loan
6 Tips To Avoid Being Rejected For A Personal Loan Application In Singapore

It’s never a nice feeling being rejected for anything, especially when it comes to a personal loan application. If you’ve ever been in this position before, you will know how discouraging this can be. So, why are personal loan applications in Singapore rejected? And what can you do to avoid it happening to you? Keep […]

Media
Singapore Fintech Startup Capital C Scores $54m in Fresh Funding

DealStreetAsia Capital C Corporation, a Singapore-based financial services provider, has announced raising S$74 million ($54 million) in a mix of pre-seed equity and debt funding rounds. The fundraising exercise was participated by Phillip Capital, Luminor Capital, Paradise Group, Citystate Group, family offices, and ultra-high-net-worth individuals, according to the announcement. With the fresh funding, the company, […]

Media
Singapore’s Capital C Corporation Bags SGD74 Million in Funding

Finextra Capital C Corporation, a Singapore-based financial services provider, bags SGD$74 Million in their recent fundraising exercise with PhillipCapital, Luminor Capital, Paradise Group, Citystate Group, various family offices and Ultra-High-Networth-Individuals. The fresh injection of funds will serve to fuel their lending capabilities and expand their digital financial platform offerings to provide a seamless experience and […]

Personal Loan
When Can Personal Loans In Singapore Be A Better Option Than Credit Cards?

Personal loans and credit cards are two popular credit options in Singapore. For instance, if you are short of cash to pay your monthly bills, getting a personal loan in Singapore or paying through your credit card can be a viable option. Both provide easy access to money when in need but getting a personal loan can […]

Company News
Capital C Corporation in DocuSign Momentum 2022

Celebrates the achievements of 10 businessmen and women who prove to have what it takes to break boundaries and emerge as winners of Singapore’s Entrepreneur of the Year Awards (EYA).

Personal Loan
Should You Take Out A Personal Loan in Singapore For The Holidays?

Have you been thinking of taking a break for this coming holiday season? Are you also considering rewarding yourself or your family with a memorable holiday gift? As the country eases the travel restrictions especially to fully vaccinated Singaporean residents, traveling to your dream destinations is now possible. Regardless of the plans you have for […]

Personal Loan
How To Manage Your Personal Loan In Singapore More Effectively

Taking a personal loan in Singapore from licensed moneylenders can help you manage your unexpected expenses, such as medical bills. Moreover, it can help you in fulfilling your life goals. While it can make a huge difference in managing your financial situation when it matters most, it is not a permanent solution. Although you are free to use […]

Personal Loan
Why Taking A Personal Loan In Singapore Is The Best Option For Emergency Expenses?

In the time of a pandemic (like now), you need to be prepared for emergency expenses. However, if you are someone who does not have savings or is hesitant to borrow money from friends or family, then you could be in trouble when an emergency arises. But, don’t worry, getting a personal loan in Singapore to tide […]

Personal Loan
Top 6 Life Goals You Can Achieve With Singapore Personal Loan For 2022

Having sufficient money can help you achieve your New Year’s goals.  However, if you don’t have enough cash, taking a personal loan in Singapore is something worth considering. With a personal loan, you can get a relatively substantial sum of fast cash, and this is useful if you already have big goals and plans for New Year. […]

Personal Loan
Licensed Moneylenders Vs Banks: How Long Does It Take To Get A Personal Loan In Singapore?

If you are currently in need of quick cash for emergencies or holiday spending, you might consider taking a personal loan either from a licensed moneylender or bank. You might wonder how long it takes to get a personal loan from these credit facilities. How fast does it take to get your loan application approved with a licensed […]

Personal Loan
Is It A Good Idea To Take Out A Personal Loan In Singapore To Invest?

According to the latest Finder’s survey, nearly 1 in 3 (that’s 32% or 928,000 Singaporeans) have taken out a personal loan in the past 12 months. Some of the key reasons why people are taking out personal loans in Singapore include, covering daily expenses, helping out a friend or family, and financing a mortgage.  But […]

Company News
Crawfort Is Honoured To Be Awarded The Singapore Quality Class Certification

Crawfort is honoured to be awarded Singapore Quality Class certification. This certification, by Enterprise Singapore, recognises organisations that have attained robust business fundamentals and met standards for good business performance based on the internationally benchmarked Business Excellence Framework. This certification serves as a recognition of our commendable management capabilities and commitment towards continuous improvement and sustainable […]

Personal Loan
6 Must-Know Tips To Get The Best Personal Loan In Singapore

You might be looking for a personal loan to help you cover some financial needs. But with the overwhelming amount of loan products and choices out there, how do you find the best personal loan in Singapore?  Financial institutions in Singapore offer loan discounts and promotions periodically; it’s important that you learn how to compare […]

Blogs and Opinions
7 Things You Should Know About Loan Sharks In Singapore

Commonly known as “ah longs” in Singapore or unlicensed moneylenders, a loan shark is a person or entity that lends fast and easy money at sky-high interest rates. These interest rates are typically far above any established legal rates.  They are infamous for their harassment tactics and threats of violence as a means of forcing […]

Personal Loan
5 Tips On Taking A Personal Loan In Singapore When You’re Unemployed

Life is always unpredictable, and there may be times when you need to take up a loan to tide through unexpected financial difficulties. It could be medical emergencies, debts, bills to pay, or simply urgent cash needs. And if you’re unemployed, getting a personal loan in Singapore can be difficult. In Singapore, banks and financial […]

Personal Loan
Scam Alert: Fake Site!

RED ALERT: crawforts.com is a SCAM site posing as us. Apart from using a web URL that bears close resemblance to ours, this website also displayed our previous brand logo and company information that are stolen from us. Please be informed that this site has no relations to us and are likely to be operated […]

Blogs and Opinions
3 Reasons Why You Should Never Borrow From A Loan Shark In Singapore

If you’ve ever found yourself in a tight financial spot and have considered borrowing from a loan shark in Singapore, think twice. There are many risks involved when you borrow money from an unlicensed money lender like a loan shark. This includes high processing fees and interest rates, and continuous harassment to you and your […]

Personal Loan
5 Tips For Short-Term Course Remote Learning And How A Personal Loan In Singapore Can Help

Maybe you’ve already been sitting on the idea of taking the plunge into the world of short-term courses. Whether it’s learning a new design software or discovering a different industry, short-term courses are all the rage for both working professionals and students alike to upgrade their skills. But maybe you’re hesitant because of many factors, […]

Personal Loan
Loan Scams – Do Not Be A Victim

Loan scams are on the rise now. Please stay vigilant and beware of scammers who may approach you with attractive loan offers through calls, SMSes or any other media forms. Don’t be impulsive and fall into their traps. Learn to differentiate between a licensed and unlicensed money lender in Singapore. Crawfort Finance will only advertise […]

Blogs and Opinions
3 Alternatives To Filing For Bankruptcy In Singapore

Filing for bankruptcy in Singapore can stir up feelings of stress, anxiety, depression, and failure. Let’s face it, the process of filing for bankruptcy is also a tedious affair combined with the social stigma that comes with it. So before you decide to file for bankruptcy, why not consider other alternatives that are more desirable […]

Personal Loan
The 2 Types Of Personal Loans In Singapore To Consolidate Your Debt 

Besides being symbolic of financial independence and adulting, owning a credit card is a great way to earn rewards and cashback on your spending as long as you pay your bills dutifully every month. But what if you’re unable to pay your bills on time? With sky-high interest rates and a few late payment fees, […]

Blogs and Opinions
10 Travelling Tips For Your Next Trip And How A Personal Loan In Singapore Can Help

In a world where everything has its price, your dream of travelling the world can seem far and out of reach. Especially when you have daily expenses to account for and pressing bills to pay. Travelling can be expensive. However, the experiences you gain and memories forged from travelling is oftentimes invaluable. Though travelling can […]

Personal Loan
Should You Take A Personal Loan In Singapore For Your Vacation?

Have you been toying with the idea of taking a good break for a while? And when we mean a break, we mean a good, quality break that’s going to give you a good reset. Maybe it’s been something on your mind for a while now but you haven’t gotten around to it because it’s […]

Personal Loan
Why You Should Upgrade Your Skills And How A Personal Loan In Singapore Can Help

According to Robert Kiyosaki, a successful businessman and author of Rich Dad Poor Dad, continuous learning is the key to getting rich. If you want to be successful in life, you need to have the right attitude, the right mentality, and seek continuous learning. Even after graduating, you should continue to upgrade your skills, which […]

Personal Loan
3 Ways To Reduce Your Wedding Costs And How Getting A Personal Loan In Singapore Can Help

Your wedding day is undoubtedly one of the most important days of your life. If you’ve been saving diligently after meeting “the one”, kudos for planning in advance! However, it may be the case that your savings still aren’t enough to cover the costs of your dream wedding.  To help you along on your journey, […]

Personal Loan
2 Types Of Personal Loans In Singapore To Consider In Times of Emergency

It’s always good when we receive a heads up before something happens, so that we can prepare for it.  But that doesn’t happen all the time. You can never predict when something unexpected crops up, and when you need extra cash urgently. In such times, a personal loan can be a viable option.  Types Of […]

Personal Loan
When Should You Take Out A Personal Loan In Singapore To Upgrade Your Skills?

We’re often told to continuously upgrade our skills because we need to stay relevant in times of changing needs. And one way to do that is through taking up courses. Plus, doing so can be helpful when we choose to switch careers. But taking up courses in Singapore can be quite expensive. For instance, a […]

Blogs and Opinions
8 Reasons Why You Have Low Credit Score In Singapore

Looking to purchase a home, car, or paying for that dream wedding? High costs of living in Singapore can make that hard to achieve. In fact, taking on personal loans to make those dreams a reality is not uncommon. Before applying for a loan, you should look at a few key considerations banks and financial […]

Blogs and Opinions
7 Things You Didn’t Know About Licensed Money Lenders In Singapore

Getting married, buying a home, or furthering your studies are major milestones in life. And these milestones usually come at a hefty price. Remaining debt-free becomes increasingly difficult as you move up the different stages of life; the last thing you want is to be trapped in a financial emergency. Turning to loved ones or […]

Blogs and Opinions
Licensed Money Lenders In Singapore: What Are Your Options If You Can’t Repay Your Loan?

Some of us encounter financial difficulties at different junctures in life. In such situations, borrowing from lenders like banks or licensed money lenders in Singapore would be among the available options to help get you back on your feet. Whether you borrow from a bank or licensed money lender, you’re of course obligated to make […]

Blogs and Opinions
4 Things To Consider When Borrowing From A Licensed Money Lender In Singapore

Whether it’s taking out a loan to renovate your brand new home or financing an unexpected medical emergency, there may come a time when you need some financial assistance. Taking out a personal loan to fund such expenses is a common option.  As a borrower, you’re usually faced with 2 main options: a bank or […]

Company News
Leveraging On Digitalisation To Simplify Loan Application

Singapore — (19 May 2020) — Staying ahead of the digital economy, we at Crawfort, the consumer loan subsidiary of Capital C Corporation, have incorporated digitalisation strategy to introduce a new loan platform with an improved user interface and experience on our website, alongside a new brand name and logo. In line with our goal […]

Blogs and Opinions
6 Things A Licensed Money Lender In Singapore Can’t Do When Collecting Debts

Getting a loan from a money lender in Singapore might be nerve wracking for some. When most think of money lending, they think of a pig’s head hanging by their door or that ‘O$P$’ red paint on the corridor.  However, loan sharks and licensed money lenders in Singapore operate very differently.  Let us look at […]

Personal Loan
6 Reasons Why You May Need A Personal Loan In Singapore

Have you ever found yourself stuck against a wall financially? When you have so many bills to pay, then suddenly, you or someone you know gets into an accident or gets sick. You are then overwhelmed with bills and the debt you need to pay, and the money you’ve saved or earned just isn’t enough […]

Personal Loan
Personal Loans In Singapore: What To Consider When Applying

Personal loans can seem like a mystery. What are they? When should you take them? How do you go about applying for personal loans in Singapore? A personal loan is a lump sum of money borrowed from a bank or licensed money lender, which you have to pay back in instalments (fixed payments) over a […]

Blogs and Opinions
Licensed Money Lender in Singapore Vs Bank: Key Differences

Getting married and buying a home are some of the most significant milestones and expenses you’ll incur when adulting. The last thing you want is to be strapped for cash. When that happens, most people think of borrowing money to tide them through the rough patch. You’re usually faced with two choices – should I […]

Personal Loan
Top 5 Personal Loan in Singapore Myths Busted

It’s pretty common to take up a car loan and/or a housing loan, especially since it’s costly to own a car and a home in Singapore. But when it comes to taking a personal loan in Singapore, it’s usually perceived as the result of poor financial management.  Depending on the circumstances, taking a personal loan […]

Company News
Advisory on COVID-2019

In light of the COVID-19 situation, Crawfort Singapore has stepped up and implemented additional precautionary measures at our outlet.

Media
单枪匹马赴菲“拓荒”寻商机

一般人对菲律宾的印象,总停留在治安欠佳和交通拥堵。然而,不能忽视的是,菲律宾有上亿人口,而近年经济增长也保持强劲,可谓商机处处。Crawfort正是看到了这个商机,希望能够为那些懂得数据科技,却无法充分从传统金融机构获取服务的消费者提供服务。

Company News
Crawfort Is Awarded
ISO 9001 : 2015

Crawfort is proud to be awarded the TUV ISO 9001 mark of quality, and will continue to provide excellent quality of services.

Company News
Crawfort Is Honoured To Be Awarded The Singapore Prestige Brand Award (SPBA) 2019

We are pleased to announce that Crawfort has been awarded The Singapore Prestige Brand Award (SPBA) 2019 – Promising Brands. Into its 18th year, SPBA seeks to recognise and honour distinguished brands for their outstanding achievements in branding. Our team went through rigorous rounds of judging by stellar industry professionals who evaluated us based on […]

Media
10 Business Leaders Recognised As Entrepreneur Of The Year

From training aspiring pilots to lending money, 10 local entrepreneurs received the Entrepreneur of the Year Award (EYA) 2019.

Media
The Breakfast Huddle

Find out how we can help F&B SMEs scale their businesses.

Media
CEO Conversation: Transforming Into A Digital Financial Services Provider

Find out how our Group is leveraging technology to serve underbanked customers in the region.

Media
The Case For Alternative Lending

In the last decade, we have witnessed rapid growth in the alternative lending space, with the creation of new business models opening up the range of alternative lending products available.

Media
How Fintech Is Driving Innovative Lending?

In Singapore, SMEs account for around two-thirds of the workforce and a large chunk of GDP growth. And if these firms can’t get funding, their failure to thrive has a dampening effect on the larger economy.

Company News
Crawfort Joins Singapore’s Fastest Growing Businesses

Crawfort rewrites the rules when it comes to moneylending solutions.

Media
Crawfort: Breaking Stereotypes Through Innovation

Innovative business Crawfort is rewriting the rules when it comes to moneylending solutions

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