When it comes to borrowing money in Singapore, there are different types of loans you can take out and this makes choosing the right kind a bit difficult if you don’t know their uses. With that being said, below we’re going to focus on offering you more information about the various types of loans in Singapore available from legal lenders and the benefits each one carries.

Personal Loan

Personal loan in Singapore is one of the most popular loan from licensed money lender. A personal loan has a lower value compared to a mortgage loan and people usually take it out to pay for a wide variety of things, including their car, electronics, debt consolidation and so forth.


  • Can borrow amounts of up to 4 months of monthly income.
  • Fixed interest rates.
  • Early repayment options.
  • Repayments are the same each month.
Apply Now!
personal loan

Payday Loan

Payday loan in Singapore allow you to borrow a small amount of money at a high interest rate which needs to be paid back in as little as 30 days or at your next paycheck.


  • Convenience & Flexibility.
  • Fixed interest rates.
  • Fast approval.
  • Easy to qualify for.
Apply Now!
payday loan

Foreigner Loan

A Foreigner Loan is a type of loan for foreigners who has valid work permit / employment pass in Singapore. If security is to be provided, as a borrower you’ll need to put some collateral against the loan amount.


  • Foreigner loan is not subjected to an extensive background or credit check.
  • You receive money fast.
  • Low interest rate.
  • Minimum number of documents required for approval.
Apply Now!
foreigner loan

Business Loan

Singapore business loans are funds given to various kinds of businesses by an organisation, individual or bank and it usually needs to be repaid by a specific date and with a specific amount of interest. The qualification of the borrower, the repayment date, interest rate and the loan amount are all variable.


  • Short term business loan solve cash flow issue.
  • Fast approval compare to banks.
  • Various loan payment options.
  • Accessible and convenient.
Apply Now!
business loan

Instant Cash Loan

Instant cash loans in Singapore allow individuals to borrow a certain amount of money, usually influenced by their salary until their next paycheck. While the interest rate is very high, they’re generally used by people who find themselves in financial emergencies and therefore need money fast.


  • You can borrow up to 2 to 4 months of monthly income.
  • Almost anyone qualifies as long you have prove of income
  • Your credit score is irrelevant.
Apply Now!
instant cash loan

Cash Advance Loan

Cash advance loans in Singapore are very similar to payday loans in the sense that you’ll be able to borrow a certain amount of money from a lender before your payday. While most people qualify for these kinds of loans, they do carry a high interest rate.


  • You don’t need to put any collateral down.
  • The application and collection process is straightforward and simple.
  • You’ll be able to gain quick access to the cash you need.
  • High approval rate.
  • Amount of money you can borrow depends on your income.
Apply Now!
cash advance loan

Education Loan

Education or student loans are loans specifically designed for helping students to pay for university tuition, living expenses and books and they’re usually offered by a licensed money lender. Generally, the repayment schedule starts as soon as the student graduates and the interest rates are very low.


  • Very low interest rates.
  • High approval rate.
  • Almost any student qualifies.
Apply Now!
education loan

Renovation Loan

A renovation loan is usually taken out in order to help the borrower fund improvements that he wants to consider for his apartment or house in Singapore.


  • Large credit ceiling.
  • Allows borrowers to select their preferred repayment method (weekly, monthly, etc).
  • You can select between fixed and variable interest rates.
Apply Now!
renovation loan

Vacation Loan

Vacation loans are a type of loan which can be used exclusively in order to pay for a vacation.


  • Ability to get cash right away.
  • There are no hidden fees.
  • You start paying it back as soon as you return from your vacation.
Apply Now!
vacation loan

Short Term Loan

Short term loans in Singapore are also known as caveat loans and they’re designed in order to help businesses having trouble with their cash flow fix these issues and get back on track with their finances.


  • No application fees.
  • Approval period is very short (a matter of hours).
  • Easy & Flexible.
  • Lose credit checks involved.
Apply Now!
short term loan

With that being said, these are the top 10 types of loans you can take out no matter your financial needs. Make sure to study each one carefully and consider several lenders before deciding on taking out your desired loan type.

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