Best Private Personal Loan in Singapore for Swift Funds
Best Private Personal Loan in Singapore for Swift Funds
At 111 Credit, we take pride in delivering a meaningful borrowing experience.
Expect customised personal loan services, fuss-free processing, and affordable rates.
25 minutes processing time on average for walk-ins
Smooth application process with Singpass
Swift fund disbursement upon loan approval
Keen on getting a private loan in Singapore?
What’s So Great About Our Personal Loan?
Reducing Rates:
max 3.92% each month*
Loan Tenure:
up to
12 months*
Processing Charges:
What Is a Personal Loan?
A personal loan in Singapore is an unsecured loan facility where funds are used for personal use. Also known as private personal loans, they’re flexible, offered with fixed repayment plans, and don’t require collateral. They’re multi-purpose and can be used to pay for all kinds of expenses; from emergencies to costly bills.
How Can Personal Loans Help?
You Can Boost Your Credit Profile
By making punctual payments with your personal loan, you are potentially improving your credit history by informing lenders that you’re a responsible borrower.
You Receive Your Funds Quickly
Licensed private money lenders offer private personal loans in Singapore with same-day loan approval and cash disbursement. At 111 Credit, you can expect to receive your cash in as quick as 25 minutes.
You Repay Comfortably in Your Own Time
Rather than jeopardise your finances by taking out your savings or using a credit card, private loans in Singapore lets you repay your loan based on your timeline. With a loan tenure of up to 12 months, repay comfortably in fixed monthly instalments.
You Can Pay or Any Expenses
Private personal loans in Singapore are designed to alleviate your financial burden by meeting a wide array of personal needs. This ranges from purchasing a new car, funding your dream home or wedding, paying household bills, to any other kind of personal use.
Why Apply for a Personal Loan With 111 Credit?
Simple Applications, Quick Approvals
Our private loans in Singapore come with hassle-free online loan applications via Singpass or in-person applications at our office conveniently located in the heart of Orchard.
Experienced in Moneylending
As a legal lender registered under the Ministry of Law since 2009, we have been serving thousands of customers and boast an excellent approval rate of 90%. With our private personal loans in Singapore, we strive to help borrowers achieve their financial goals.
Customised Loans
Need a personalised private loan in Singapore? Whether it’s your loan repayment plan or loan amount, we are more than happy to accommodate your specific needs with specially tailored loan solutions.
No Collateral
Our personal loans don’t require you to provide any security in the form of collateral. Borrow with ease knowing that none of your assets will be at risk.
Eligibility Requirements for Personal Loans in Singapore
Who can apply?
Singaporeans, Permanent Residents (PRs), or Foreigners
Any individual who is able to show proof of stable income: Full-time employment, self-employment, gig worker, freelancer, or commissioned-based employment
As a trusted licensed money lender, we work hand in hand with you to meet your personal needs. We ensure you get the loans you require in the most fuss-free manner for we are a licensed money lender with secure online services.
How Much Can I Borrow for a Personal Loan?
Yearly income
Singaporeans & PRs
Foreigners living in Singapore
Lower than $10,000
S$500
At least $10,000, lower than $20,000
S$3,000
S$3,000
At least $20,000
6 x monthly income
6 x monthly income
What Documents Do I Need for a Personal Loan?
Required Documentation
Singaporeans & PRs
Foreigners residing in Singapore
Proof of income
- CPF statements from the past 3 months (retrievable via Singpass)
or - Latest Notice of Assessment from IRAS (retrievable via Singpass)
or - Bank statements from the past 3 months to show proof of stable income
- Delivery personnel/ private-hire drivers: Screenshots of income statements from the past 3 months via company app
or - System-generated income statements emails from the past 3 months
- Bank statements from the past 3 months to show proof of stable income
Proof of identity
- NRIC or Digital IC (retrievable via Singpass)
- Work Pass (Only Employment or S Pass)
Proof of residential address
- Retrievable from Singpass
- Proof of residence, for instance, utility bills or bank statements
3 Easy Steps to Apply for a Personal Loan
Apply for the Loan
Wait for Results and Review the Offer
Receive your application results within an hour. Visit our office to review and sign your loan offer
Receive the Cash
Get your funds in cash or via bank transfer
Frequently Asked Questions: Personal Loans in Singapore
1. What is a personal loan?
A personal loan, also known as a private loan in Singapore is a sum of money borrowed from a bank, financial institution, or licensed lender. It is usually an unsecured loan — there’s no need to offer an asset as collateral in exchange for the loan.
2. How does a personal loan work?
A personal loan is disbursed in one lump sum. This sum of money that you owe —your loan principal, plus interest and processing fees, if any— is to be repaid in equal monthly instalments (EMI) over the loan tenure. Legal lenders in Singapore typically offer loan tenures ranging from 1-12 months.
3. How can I get a personal loan with poor credit?
If you have poor credit, you may consider getting a private loan in Singapore from a reliable loan provider like 111 Credit. Legal lenders are more lenient in this regard compared to traditional banks.
4. How many personal loans can you have at once?
There’s no fixed limit to the number of personal loans you can have at once. However, the maximum you can borrow from licensed lenders at any one point in time is capped at 6 x your monthly income.
5. How to calculate personal loan eligibility?
Legal lenders provide loans to borrowers even if they earn less than $10,000 annually. However, money lenders will consider your existing liabilities (e.g. loans) and income when calculating your personal loan eligibility. They may check your MLCB Loan Information Report and/or CBS credit report when assessing your suitability to take a loan.
6. How to reduce personal loan EMI?
There are several methods to reduce your personal loan EMI (i.e. the monthly repayment amount you’re supposed to pay throughout your loan tenure):
- Negotiate with your lender for a lower interest rate
- Go for a longer loan tenure
- Opt for a smaller loan amount
7. Can I take a home loan after a personal loan?
Yes, you can take a home loan after taking a personal loan.
8. Can foreigners apply for a personal loan in Singapore?
Yes, foreigners can apply for a personal loan in Singapore so long as they meet the eligibility requirements and are able to furnish all required documentation. Legalised lenders like 111 Credit offer greater accessibility than traditional banks.
Start an online personal loan application with 111 Credit
With 111 Credit, your loan journey is ultra quick and easy thanks to our simplified application procedures, friendly team, and speedy loan approval. Get the loan you need with ease now.
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