Personal Loan

Need Immediate Funds?

  • Consider a personal loan as your personal lifeline when you need a financial boost.
  • With a minimum salary of SGD2,000, you can borrow up to six months’ worth of your income.

What is a personal loan?


A personal loan in Singapore is a loan that you take out from a bank or other money lending agencies that aren't secured against any other assets or collaterals. Most personal loans in Singapore allow you to borrow a fixed amount of money over a fixed term, usually at a fixed interest rate. The repayment terms are then spread out over a period of time, depending on the terms and conditions of your loan contract, interest rate, monthly salary, processing fees, and repayment capabilities.

In short, they are a cash loan for you to use as you see fit.

What's more, a personal loan can be an excellent alternative to getting some money that credit cards don't match due, if only due to the high interest rates the card charges and other restrictive terms and conditions. The ability for you to recover from your financial troubles would be even greater without that financial security.

Get Loan in 4 Easy Steps

#1. Call or Apply online

Call us at 6345-9123 or simply apply online here to set an appointment at your convenience.

#2. Visit Our office

Come in for an appointment to create a customized plan that fits your needs and repayment ability.​

#3. Finalize Loan plan

Agree on terms, including the payments and permitted fees.

#4. Receive cash Instantly

Once the contract is signed, you will receive your cash loan.

What customers are saying

  • EXCELLENT
  • 144 reviews on
  • review rating 5  Their service is great. The loan officer explained every single detail to me until I understood all the personal loan terms and conditions. The admin fee and interest rate was reasonable as well. Good Licensed Moneylender!

    thumb John Kevin

    review rating 5  Good and fast services. All the details explained clearly. Will recommend to those who need urgent money.

    thumb Qiqi C

    review rating 5  Jen is a friendly and helpful staff that served very well. Thanks for the good service. Highly recommend !

    thumb bobo phang

    review rating 5  Fast and efficient trustworthy legal ,can look for consultant Jacob phang very friendly and helpful

    thumb Lee Yunloong Eugene
  • review rating 5  A very pleasant experience in Bugis Credit with the company loan officer Jacob. The whole borrowing process is hassle free and professional. They do give a great customer service and reliable image. A big shout out to Jacob for his customer service provided. Obviously, they are the best, safe and reliable licensed money lender in Singapore from you to seek a loan!

    thumb Wesley Chuah

Eligibility

At Least 18+
Years OLD

Minimum Salary of
SGD1,500 for Local & PR

Minimum Salary of
SGD2,000 for Foreigner

Requirements

Local and Permanent Residents

Minimum Salary SGD1,500

  • Identity card
  • Proof of residence (utility bill, a letter addressed to you, and or tenancy agreement)
  • Proof of employment (certificate of employment or recent 3 months payslip)
  • SingPass (password to log into CPF, HDB, IRAS website)

Foreigners

Minimum Salary SGD2,000

  • Passport
  • Work permit / S Pass / E Pass
  • Proof of residence (utility bill or tenancy agreement)
  • Proof of employment (certificate of employment or recent 3 months payslip)
  • Proof of income (bank or account statement)
  • SingPass (password to log into IRAS website)

Ready To Get Your Loan?

Request for a quotation from our friendly officers by filling out the form below

Frequently Asked Questions

Personal loans allow you to borrow a fixed amount of money over a fixed term, usually at a fixed interest rate. The repayment terms are then spread out over a period of time, depending on the terms and conditions of your loan contract, interest rate, monthly salary, processing fees, and repayment capabilities.

Most personal loans are also unsecured loans. As such, the loans are mostly taken for anything that you might need, from an emergency like a hospitalization bill and other unforeseen disasters to even a wedding, home renovation, or a dream vacation you’ve longed for years.

There is a difference between a payday loan and a personal loan in Singapore. The first is that a payday loan is effectively a short term loan that you repay back to the lender when you receive your next paycheck. A personal loan has a longer loan repayment term due to the larger amount that you have taken out.

Singapore citizens, PR, and even foreign workers should take note of the following when deciding on taking out a personal loan:

  • You don’t need collateral to take out a personal loan
  • You can borrow up to 6 times monthly income.
  • The repayment amount is fixed each month, making it easy for you to budget
  • You can make a full or early repayment and even receive a discount on the interest rate

You should be aware of the following cons

  • You could be tempted to take out more than you need unlike a payday loan
  • The cash loan you receive is not a good way to consolidate your debts

Unlike banks, a licensed money lender like Bugis Credit does not judge or look for your credit history when approving your personal loans.

What we look for are the following:

  • Your ability to repay the personal loan
  • Singapore citizens, PR, and foreign workers need to show that they are employed or have income
  • Your proof of income
  • Other identification papers only after you have been approved for a personal loan

Because the total amount of personal loan you can receive is fixed due to the Registry of Moneylenders’ regulations, the best personal loan rates matter greatly. The interest rates would also differ if you have a secure or unsecured personal loan, or if you have a guarantor.

Having collateral such as properties, real estate, bonds, collections and other items and objects of value can help you lower your personal loan interest rates.

Secured loans will have lower interest rates and even unlock higher amounts for customers.

In addition, if you have good credit scores and decide to work with Bugis Credit, you can have lower interest rates too. However, we will never require that you have a good credit score — we’ll give you an amount you can safely borrow that is proportionate to your income.

There are a number of factors that determine your interest rate you will receive. For example, the interest rates would differ if you have a secure or unsecured personal loan, or if you have a guarantor.

However, Bugis Credit will still approve your unsecured loans provided if you have enough income to pay for your financing. Secured loans will have lower interest rates and even unlock higher amounts for customers.

You can contact us at 6345-9123 or come visit us at our office to make the payments and inform us of your early settlement. 

Do tell us about your plans for the early settlement, so that we can come to an agreement with you for any discounts to your loans.

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