Question 1

How do I qualify for a cash loan in Singapore?

Accepted Answer

In terms of qualifying for a cash loan in Singapore, all the following requirements have to be fulfilled: Must be a Singapore Citizen or Permanent Resident of Singapore. Must be above 21 years of age, and is not an undischarged bankrupt, nor facing any bankruptcy involvements.

Question 2

Some notes to take note prior to getting a loan

Accepted Answer

Republic of Singapore’s government ruling on the interest rate is capped at 4% per month. The cash is given upon the signing of agreement on the spot at the retail outlet.

Question 3

What is the loan amount that I can receive?

Accepted Answer

For Singapore Citizen’s & Permanent Residents of Singapore, you can loan: Up to $3,000, if your annual income is less than $20,000; Up to 6 times your monthly salary, if your annual income is $20,000 and above.

Question 4

What are the documents I need to prepare to get a loan?

Accepted Answer

For Singapore Citizen’s & Permanent Residents of Singapore: NRIC Identity Card Income Proof (Eg. CPF Statement / Notice of Assessment / Computerised Payslips)

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