Personal Loan

Need immediate funds? Consider a personal loan as your lifeline when you need financial boost. 

Personal loans can be used for pretty much anything— education, travel, emergencies, home improvements, and car repair—to cover your financial needs. With a minimum salary of SGD1,500 for local & SGD2,000 for foreigners, you can loan SGD $500 up to $50000.

Steps to Apply

Call or apply online

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

Visit our office​

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

Finalize Loan Plan

Agree on terms, including the payments and permitted fees.

Receive Cash Instantly

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

Eligibility

At least 18 years old

Min. Salary of SGD1,500 for local & PR

Min. 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 payslip)
  • SingPass (password to log into CPF, HDB, IRAS website)

Foreigners

Minimum Salary SGD2,000

  • Passport​
  • Work permit
  • Proof of residence (utility bill or tenancy agreement)
  • Proof of employment (certificate of employment or recent payslip
  • Proof of income (bank or account statement)

Ready to get started?

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

Frequently Asked Questions (FAQs)

Prior to borrowing money, it is important to consider the list of money lending companies registered with the Ministry of Law, to verify its legitimacy.

At Bugis Credit Pte Ltd you can be confident that you can get a fair amount of interest rates, as it adheres with the law. It offers flexible repayment terms suitable for the borrower’s budget and capability.

The amount of money you can loan varies depending on the requirement and qualification. Here’s the list of loanable amount A1 Credit offers:

  • Foreigner Loan – Up to SGD10,000
  • Payday Loan – Up to one month’s worth of income
  • Personal Loan – SGD $500 to $50000
  • Business Loan – SGD $10,000 to $200,000
  • Monthly Loan – Up to one month’s worth of income



According to the Ministry of Law, if a borrower fails to repay the loan on time, the maximum rate of late interest a moneylender can charge is 4% per month for each month the loan is repaid late.

All moneylenders are only permitted to impose the following charges and expenses:

  • a fee not exceeding $60 for each month of late repayment.
  • a fee not exceeding 10% of the principal of the loan when a loan is granted.
  • legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

The total charges imposed by a moneylender on any loan, consisting of interest, late interest, upfront administrative and late fee also cannot exceed an amount equivalent to the principal of the loan.

You can verify if a moneylender is licensed by checking this list by the Ministry of Law.

Under the advertising rules, licensed moneylenders are permitted to advertise only through these three channels:

  1. Business or consumer directories (in print or online media)
  2. Websites belonging to the moneylender

If you receive flyers, SMSes, emails or other forms of advertisements, these would be from either licensed moneylenders operating in violation of the rules, or unlicensed moneylenders.

You are advised to seek clarifications on specific terms of the loan contract before signing up with a licensed moneylender, and not to rely solely on the content of advertisements from the moneylender.

You should ensure that:

  • You understand your responsibilities as a surety;
  • You receive a copy of the Note of Contract at the time that the loan is granted to the borrower;
  • The moneylender has explained the terms in the Note of Contract in a language that you understand; and
  • The moneylender does not keep your NRIC card or any other personal ID documents (e.g.driver’s licence, passport).
  • The moneylender does not acquire any information that contains passwords to your user accounts (e.g. Singpass account, Internet banking account, email account).
  • Make sure the moneylender delivers to you the correct principal amount of the loan. The moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.
  • Pay the loan installments on time to avoid incurring late payment fees and late interest.
  • Make sure the moneylender issues to you a receipt every time you make any repayment towards your loan, and check it for correctness (e.g. name, amount, date).
  • Make sure you receive a statement of account for all your loan(s) at least once every January and July, and check it for correctness (e.g. name, amount, date); and
  • You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.

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