Simplify Finances With a Debt Consolidation Loan in Singapore
Simplify Finances With a Debt Consolidation Loan in Singapore
At 111 Credit, we aim to deliver a positive experience to everyone.
Expect personalised service, attractive rates, and swift processing.

We process walk-in debt consolidation loan applications in 60 minutes or less
Seamlessly apply for your debt consolidation loan in Singapore with Singpass
Benefit from a debt consolidation money lender’s professional advice
Ready to start on your debt consolidation loan journey?
What’s So Great About Our Debt Consolidation Loan?
Reducing Interest Rates
From 2.88% per month*
Loan Tenure:
Up to
24 months*
Processing Fee:
5 to 10%* of principal amount
*Terms and Conditions apply
What Is a Debt Consolidation Loan?
A personal loan for debt consolidation merges your eligible outstanding unsecured loan balances from different financial institutions to form a new loan with a revised interest rate. This allows you to use funds from the debt consolidation loan to pay off your outstanding unsecured debts. Thereafter, simply pay off your debt consolidation loan via a single instalment every month.
When you work with a licensed money lender for debt consolidation, you gain a solution that’s easy to track and manage altogether. There’s no need to note down multiple repayment deadlines and amounts anymore. Simply mark on your calendar one repayment amount and date every month. This lets you manage your monthly budget better while ensuring all your debt gets paid off.
How Can Debt Consolidation Loans Help?
You Streamline Debts Into a Single Payment
No longer bear any headache of repaying multiple debts on different dates. With a debt consolidation loan in Singapore, you only need to worry about one payment every month.
You Enjoy Lower Interest Rates
A debt consolidation loan money lender is capable of consolidating your debt into one loan, providing you a more affordable interest rate — easing repayment by a great deal.
You Boost Your Credit Rating
By making consistent repayments for your debt consolidation loan, you’re telling your lender that you’re a responsible borrower.
This means you stand a chance of improving your credit rating when you get a debt consolidation loan from a licensed money lender.
You Enjoy Flexible Loan Repayment Plans
On top of only making a single payment, the loan tenure period is also up to you. Our experienced loan officer will assess your eligibility and ability to repay, working closely with you to offer a debt consolidation loan in Singapore that carefully matches your needs and repayment capacity.
Why Apply for a Debt Consolidation Loan With 111 Credit?
Simple Applications and Fast Approvals
Applying for our debt consolidation loan only takes three steps, and we’ll process your application in under an hour.
Competitive Interest Rates
We levy an interest rate of up to 4% a month for our debt consolidation loan. Nothing more.
A Transparent Fee Structure
As a licensed debt consolidation money lender, we’ll never include hidden fees or penalties in your loan.
Regulated and Reliable
We have been a licensed debt consolidation loan money lender for years, earning the trust of 3,000+ customers.
Prevent loans from spiralling out of control with our debt consolidation loan in Singapore!
Eligibility Criteria for Debt Consolidation Loans in Singapore
Be a Singapore Citizen, Permanent Resident, or foreigner employed in Singapore
Be 18-70 years old
Be able to show proof of stable income
As a private money lender in Singapore, we work with you to understand your financial requirements.
Our goal is to provide you with the loans you need in the most hassle-free way.
How Much Can I Borrow for a Debt Consolidation Loan?
Yearly Income
Borrowing Limits for Singapore Citizens and Permanent Residents
Borrowing Limits for Foreigners Employed in Singapore
<S$10,000
S$500
S$10,000 to S$19,999.99
S$3,000
S$3,000
≥S$20,000
Up to 6 x your monthly income
What Documents Do I Need for a Debt Consolidation Loan?
Type of Supporting Document
Singapore Citizens and Permanent Residents
Foreigners Employed in Singapore
Income Proof
- Latest three months’ CPF statements
or - Latest Notice of Assessment
or - Latest three months’ bank statements showcasing proof of consistent income
- Latest three months’ bank statements showcasing proof of consistent income
Identity Proof
- Physical or digital NRIC
- Work Pass (Employment or S Pass)
Residential Address Proof
- Information retrieved via Singpass Myinfo
- Utility bill, rental agreement, telco bill, bank statement, etc.
Other Supporting Documents
- Latest credit card and unsecured loan statements
- Confirmation letters evidencing unpaid principal balances for your unsecured credit instalment plans (Optional, depends on whether you possess them)
- Latest Loan Information Report and Credit Bureau Singapore Credit Report
3 Easy Steps to Apply for a Debt Consolidation Loan
Send in Your Loan application
Wait for an Update and Review Loan Offer
Get an update on your application result in an hour; review the loan offer at our office and sign the loan contract
Get the Cash
Retrieve your funds — either through bank transfer or cash
Frequently Asked Questions: Debt Consolidation Loans in Singapore
1. Is a debt consolidation loan a secured or unsecured loan?
A debt consolidation loan from a licensed money lender is an unsecured loan, but you can secure your loan with collateral to improve your chances of loan approval.
2. Is a debt consolidation loan in Singapore good for my credit profile?
Yes, because a personal loan for debt consolidation helps put you in a better position to pay off your loans and prove you’re a responsible borrower. Your credit profile within your Loan Information Report can improve over time.
3. Can a debt consolidation loan lower my existing interest rates and overall repayments?
Generally, it can. However, if your existing loans have lower interest rates than the debt consolidation loan from a licensed money lender, do think about how you can optimise your monthly repayments.
4. Can a debt consolidation loan combine all my current debts , including those from other lenders?
Yes, it can. However, do note that our debt consolidation loan only combines outstanding unsecured loan balances. Certain unsecured loan types are excluded, too, such as education loans.
5. Is a debt consolidation loan the same as a debt consolidation plan?
A debt consolidation loan money lender’s solution isn’t the same as a debt consolidation plan from participating financial institutions. However, they’re identical in principle, being a form of debt refinancing to help individuals struggling with existing multiple loans.
6. Is a debt consolidation loan the same as a debt consolidation scheme?
A debt consolidation scheme is your best bet if you want to get a debt consolidation loan with possibly better loan terms and conditions. Under this scheme, a voluntary welfare organisation will negotiate with the licensed money lender on your behalf to let you get the debt consolidation loan you need to repay all outstanding amounts owed by you to all licensed money lenders. The Ministry of Law’s loan cap of up to 6X your monthly income doesn’t apply to this scheme.
Not everyone is eligible for a debt consolidation scheme. To qualify for one, certain requirements must be met.
Note: You are not allowed to apply for any new loan from any licensed money lender throughout the duration of your debt consolidation scheme.
7. How can I benefit from a debt consolidation loan?
Apart from making it easier for you to manage loan repayments, there could be significant interest savings to be had. This is particularly true if you have been missing or skipping payments for your existing high-interest debts.
A debt consolidation loan can be a good idea if you’ve been struggling with multiple outstanding debts and are determined to take better charge of your finances.
Ready to apply for your debt consolidation loan?
As an experienced and licensed debt consolidation money lender, we’ll put you on the path to paying off your loans in no time at all!
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