5 June 2020

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 out. This has affected livelihoods from all walks of life, including private-hire drivers such as Grab and Gojek drivers, as well as taxi drivers. 

In fact, there’s been a fall of up to 40% in taxi and private-hire driver earnings. Despite the fact that they’re providing essential services, the lack of customers have been hitting them hard. 

While the number of customers has greatly reduced, daily expenses to upkeep the car remains the same.

And even though the government has allowed private-hire and taxi drivers to deliver food, it’s not necessarily economically viable. 

Plus, the waivers and subsidies given by the government might not be enough to cover the costs. 

To tide over this financial difficulty, one of the options available, if you’re a private-hire or taxi driver in Singapore, is a personal loan. 

What’s A Personal Loan For? 

A personal loan is a lump sum of money borrowed from a financial institution, such as a bank or a licensed money lender. You’ll need to pay back the money borrowed in instalments over an agreed-upon period of time.

In general, personal loans in Singapore can be useful in emergencies and unforeseeable situations that abruptly affect your income. For example, for most people, the COVID-19 outbreak has caused a sudden drop (or halt) in their income. 

In times of low demand and uncertainties (such as the impending recession and the pandemic), it’s challenging to earn just enough money to cover daily expenses such as car rental and petrol. However, having a lump sum of cash from a personal loan can significantly ease your financial worries. It can be useful especially if you need cash urgently to pay for these day-to-day operating expenses. 

Plus, it can help to ensure that you have sufficient funds for the maintenance of your car, allowing you to continue working.

Learn more about how personal loans work here. 

How Is A Personal Loan Useful For Private-Hire Drivers? 

Instead of dipping into your savings, you can take out a personal loan in Singapore to cover some of the operating expenses, especially during this time when there’s low demand. 

As compared to taxi drivers, the daily operating cost for private-hire drivers can be quite high. 

If you’re using your own car, here are some of the operating costs that you may pay using a personal loan: 

  • Commercial insurance
  • Maintenance and servicing
  • Petrol

Commercial Insurance 

Commercial insurance for a car is about S$2,000 to S$3,500 per year.

Let’s assume that the insurance for your car costs S$2,750. 

For instance, you work a 5-day work week, every week of the year. This makes it 52 weeks — in 1 year, you would have gone to work for 260 days.

It means that for every working day, you’re paying an insurance cost of S$10.60.

And this cost is before adding in maintenance and petrol costs. 

Maintenance Costs

On average, car servicing can cost around S$500 per year, which translates to a daily cost of around S$2. 

There’s also a greater need for private-hire cars to go for car wash more frequently to maintain the external appearance and cleanliness. 

The average price for a basic car wash is S$10. This makes the general maintenance and servicing costs to be S$12 daily.

Petrol Costs

Out of these expenses, petrol costs take up a bulk of it. For instance, petrol can easily cost you S$50 to S$80 daily. What’s worse is that during off-peak seasons, you’re picking up less customers, but use the same amount of petrol to drive around the island, hoping to pick up customers along the way.

For Car Rental

The good thing about renting a car is that you won’t need to pay for the costs of commercial insurance and maintenance. 

However, you’ll still have to pay for the petrol and car rental fee. The car rental cost averages between S$40 and S$80 per day.

Whether you’re using your own car or a rental car, taking a personal loan in Singapore can help to cover these operating costs, as well as to ease your financial burden when demand is low. 

Infographic on private-hire/taxi operating costs that can be covered by a personal loan in Singapore
You may take out a personal loan to cover daily expenses such as petrol and car rental fee

How Is A Personal Loan Useful For Taxi Drivers? 

Just like private-hire drivers, you may opt for a personal loan instead of using your savings to pay for some of your operating costs when demand is low. Your savings, for instance, can be set aside for more urgent payments. 

In general, some of the operating costs that you can pay using a personal loan are: 

  • Taxi rental
  • Petrol costs

Taxi rental costs an average of S$75 to S$105 daily. It’s generally more expensive than the rental cost for private-hire cars.

The daily cost of petrol for taxi drivers is slightly cheaper, at approximately S$30 to S$50. However, given the current situation, you might be using the same amount of petrol but won’t be able to pick up enough customers to cover the cost. 

Here’s an estimation of the daily operating cost for private-hire cars and taxis: 

  Private-hire (e.g. Grab), with own car Private-hire (e.g. Grab), with rental car Taxi 
Commercial insurance S$10.60 N.A.  N.A.
Maintenance (e.g. car wash, servicing) S$12/day N.A.  N.A. 
Petrol costs S$65/day (average between S$50 to S$80) S$65/day (average between S$50 to S$80) S$40/day (average between S$30 to S$50)
Rental cost N.A.  S$60/day (average between S$40 to S$80) S$90/day (average between S$75 to S$105)
Total/day S$87.60 S$125 S$130
Source: First Lane, TODAY, and CNA

Daily expenses just to upkeep the car itself can be quite high. And in times of low demand due to situations such as the pandemic, paying for these expenses becomes even harder especially when less customers are riding. 

If you’re struggling to pay off daily expenses, much less your basic work expenses, you may consider taking out a personal loan in Singapore to help ease your financial burden.

What Are The Documents Needed To Apply For A Personal Loan In Singapore As A Driver?

Applying for a personal loan in Singapore is quite simple, especially if you’re borrowing from licensed money lenders.

In general, these are all the documents you’ll need: 

  • Proof of identity, e.g. NRIC
  • Proof of income, e.g. payslip

It’s essential to submit your proof of income as the amount that you can borrow depends on your annual income.

As a private-hire or taxi driver, you may use your latest Grab statements or taxi license instead as your proof of income when applying for a personal loan with Crawfort. 

How Much Can You Borrow As A Driver Through A Personal Loan In Singapore?

Before you jump into taking a personal loan in Singapore to cover your private-hire or taxi operating costs, do take note of the maximum amount that you can borrow. 

The amount typically depends on 2 factors: your income and credit score.

Annual Income

Generally, the more you earn, the more you can borrow.

If you have an annual income of less than S$20,000, the maximum amount that you can borrow from licensed money lenders such as Crawfort is S$3,000.

If you earn at least S$20,000 annually, you can borrow up to 6 times your monthly income.

That means if you’re a taxi driver earning the average monthly income of S$4,330 (which translates to an annual income of S$51,960), the maximum amount you’ll be able to borrow is S$25,980! 

If you’re a full-time private-hire driver earning an estimated monthly income of S$5,104, you’ll be able to take out a maximum loan amount of S$30,624. 

However, you should only borrow based on your capacity and needs, for instance, to cover your car rental or taxi rental costs. It’s not recommended that you borrow the maximum amount; this helps to ensure that you’ll be able to pay back your loans on time. 

Credit Score

Your credit score may also be evaluated when you apply for a personal loan in Singapore. 

Essentially, a credit score indicates how likely you’re going to repay your debts. It’s not fixed, and will change based on your actions. For example, if you keep making late payments, your credit score will drop. 

Having a higher credit score makes it easier for you to take out a personal loan in Singapore. It allows you to borrow more money too. 

In general, banks are more particular about credit scores, while licensed money lenders tend to focus less on them when approving loans.

But if you’ve never borrowed a loan as a driver, or held a credit card before, chances are you don’t have a credit score. Not to worry, you can start building up your credit score by taking out small personal loans and paying them back on time. 

Or if you have a credit score and it isn’t very good, you can consider going to a licensed money lender instead of a bank to take out a personal loan in Singapore. 

Learn more about how you can get a personal loan in Singapore with a bad credit score here

What Do You Need To Consider When Taking A Personal Loan In Singapore?

A man driving a car
Besides paying for daily expenses, you may also use the personal loan to pick up new skills to get other sources of income

While getting a personal loan in Singapore can be very helpful in covering the operating costs of your private-hire car or taxi, there are some aspects that you should always pay close attention to before getting one.

Interest Rates

Before taking a personal loan, it’s always handy to compare the interest rates from banks and licensed money lenders.

While licensed money lenders in general tend to have higher interest rates than banks, the former have a faster approval rate. 

This is especially useful when you need cash urgently, for instance to pay for petrol. At Crawfort, you can get your loan approved within as fast as 8 minutes — the same amount of time taken to pay and pump your petrol! 

If you’re planning to borrow from a licensed money lender, be sure to check that the interest rate does not exceed more than 4% per month. 

In fact, Crawfort’s nominal interest rate starts from 1.8% per annum. 

Should you encounter any money lender that offers loans with interest rates of more than 4% per month, they might be unlicensed money lenders or loan sharks. 

Always consider the interest rates carefully before taking a personal loan! The last thing you want is to find out that you’ve overcommitted to a loan with a high-interest rate that’s not within your means. 

Loan Repayment Schedule

Loan repayment schedule refers to the number of instalments and frequency of instalments. 

Some financial institutions have a predetermined and more rigid loan repayment schedule. For instance, for most personal loans in Singapore, the loan repayment is through monthly instalments. 

However, given that income for private-hire and taxi drivers varies depending on demand, it can be hard to make the repayments monthly. So paying your loans in monthly instalments may not be a suitable option. 

On the other hand, Crawfort offers a more flexible repayment schedule, making it easier for you to pay off your loan. If you’re planning to borrow from us, you can choose either one of the following options: 

  • Weekly
  • Bi-weekly 
  • Payday 
  • Monthly 

With this flexibility, you can plan your driving trips ahead and manage your repayments better. 

Total Cost

The total cost isn’t just the amount you’re borrowing. It includes the principal amount, interest, and the administrative fee.

Administrative Fee

When it comes to taking out a personal loan in Singapore, most people overlook the administrative fee. In general, administrative fees can be around 0% to 3% for banks, and up to 10% for licensed money lenders. 

Should you choose to borrow from a licensed money lender to pay for the operating costs of your private-hire car or taxi, be sure to check that the administrative fee is not more than 10% of the principal amount. You should also ensure that you’re not charged with any hidden fees. 

If it’s more than 10%, or if you’re asked to pay for a processing fee before your loan is approved, chances are that you’re dealing with an unlicensed money lender. 

Late Fees And Late Interest

In addition, it’s good to take into account any late fees and late interest that might be incurred. 

Licensed money lenders can only charge a late fee of at most S$60 per month, and a late interest of 4% per month. 

Missing repayments can set you back and incur more debt. It might potentially cause a debt spiral too if it’s not settled in time. 

Should you find yourself unable to pay back your loan repayments on time, be sure to consult your lender for other alternatives. Ask them for an extension, or if it’s possible to restructure the repayment. 

This is better than incurring late fees, especially if it happens frequently.

Lenders such as banks and licensed money lenders can help in restructuring your repayments. So don’t hesitate to reach out to them if you can’t meet your loan repayment by the deadline.

Planning to take out a personal loan in Singapore soon? Read here to find out more on other factors that you should consider. 

What Else Can I Use A Personal Loan For? 

The good thing about personal loans is that you can use it for all kinds of purposes, and not just to cover the operating costs of your private-hire car or taxi. 

Here are other situations in which a personal loan can come in handy. 

For Vacations

For instance, you might want to go on a dream vacation after the COVID-19 measures have ended and travel restrictions have been lifted. 

Airlines are currently offering plane tickets at a low price for flights in the next several months. So it seems like a once-in-a-lifetime opportunity to go to places like Europe might just be coming your way. Yet you may not have enough cash to pay for it. What should you do?

Instead of forgoing this opportunity, you might want to take out a personal loan! With the lump sum of money, you can book and pay for travelling expenses such as the air tickets and accommodation first, allowing you to enjoy yourself without any worry. 

You can then pay back the personal loan in instalments after your holiday (or even before your holiday, given the current travel restrictions). 

Planning to travel once the restrictions are lifted? Check out our travelling tips to make the most out of your holiday. 

For Upgrading Your Skills

Personal loans in Singapore can also help with your personal growth. If you want to upgrade your skills, such as taking a short-term course, you may either use your SkillsFuture Credit or a personal loan to pay for it. 

For instance, if you’ve used up all your SkillsFuture Credit, you can continue to take up courses on investing by paying it with a personal loan. 

These new skills can come in handy and provide you with other sources of income and opportunities when demand for taxi or private-hire is low, especially during this outbreak. 

Still wondering when you should take out a personal loan to upgrade your skills? Learn more about it here. 

For Emergencies

A personal loan can also come in handy in times of emergencies. In the unfortunate event that an accident happens, you’ll need to foot hospitalisation bills. Medical bills in Singapore can be costly, especially if you don’t have the right insurance coverage.

In such a situation, you can take out a personal loan in Singapore to temporarily bear the cost. It will help ease the financial burden and let you focus on recovery.

In addition, with a personal loan, you won’t have to ask your relatives or friends to borrow from them, especially if they’re equally tight on money.

Planning to take out a personal loan soon? Here are 2 types of personal loans in Singapore that are useful during emergencies. 

For Urgent Payments

Personal loans in Singapore are also known to be processed quickly, especially those from licensed money lenders. 

The quick approval time for personal loans in Singapore means that it can be used to clear off urgent payments as fast as possible. If you’re borrowing from Crawfort, you can get your loan approved within 8 minutes! 

If you have credit card bills due soon, a personal loan can give you the cash needed to pay it off first. Doing so will also prevent your credit card balances from snowballing and incurring more interest. 

Still unsure about when you should take out a personal loan? Read here to find out more!

Ultimately, having the right support is crucial, especially in a time of low demand. During this COVID-19 outbreak, most of us will be hit hard financially, especially those working in the service industry. 

Getting a personal loan, especially during this time, can go a long way in helping to lessen your stress and financial difficulties. 

Whether it’s to cover the operating expenses of your private-hire car or taxi or to pay off urgent payments, that extra monetary aid can temporarily help tide you over.

Ready to apply for a personal loan? Get started with Crawfort today. 

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

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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
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 […]

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, […]

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
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
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
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 […]

Blogs and Opinions
Should You Take A Personal Loan In Singapore For Your Wedding?

Most of us dream of having the perfect wedding with our significant other. We want to make the day perfect to celebrate our love for our partner with our family and friends. However, planning a wedding can be stressful. Not only do you have to decide on the location, settle the most minute details, and […]

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
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
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, […]

Personal Loan
Personal Loan In Singapore: How Can It Help With Wedding Expenses?

Your wedding day is probably the most significant milestone as a couple. It’s a momentous and joyous occasion, where family and friends come together to celebrate the love and union between the two of you. How would taking out a personal loan in Singapore come into the picture? Well, every couple dreams of having that […]

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 […]

Personal Loan
Secured Vs Unsecured Personal Loan In Singapore: Which One To Take?

If you’re facing some kind of financial difficulty, getting a personal loan in Singapore could help improve your situation. Whether you choose to borrow from a bank or a licensed money lender in Singapore, you have a decision to make: you’ll need to decide whether to take out a secured loan or an unsecured loan. […]

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 […]

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
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
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
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
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.



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 […]

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.

The Breakfast Huddle

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

CEO Conversation: Transforming Into A Digital Financial Services Provider

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

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.

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.

Crawfort: Breaking Stereotypes Through Innovation

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

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