Have any Questions? +65 6908 8111

Looking for a convenient, stress-free way to get a personal loan?

Yes, it’s possible.

Looking for a convenient, stress-free way to get a personal loan?

Yes, it’s possible.

Smiling lady happy about being able to get fast personal loans from the top licensed money lender in Orchard

At 111 Credit, we aim to deliver a positive borrowing experience.

Our application process is fast, easy, and transparent.

Friendly female licensed money lender loan officer helping male borrower with loan enquiries
Friendly female licensed money lender loan officer helping male borrower with loan enquiries
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Average processing time of 25 minutes for walk-in application

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Seamless application process using Singpass

Instant cash disbursement upon approval

READY TO START?

Reducing Interest Rates:

max 3.92% per month*

Loan Tenure:

up to
12 months*

Processing Fee:

5 to 10%*

*Terms and Conditions apply

Loan Eligibility Criteria

Who can apply?

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Singapore Citizens, Permanent Residents, or Foreigners
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18 to 70 years old
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Self-employed, employed, freelancer, gig worker, commissioned-based employee, or anyone who can show proof of consistent income

We work with you to understand your personal requirements.
Our goal is to provide you with the loans you need in the most hassle-free way.

How much can I borrow?

Borrower's annual income

Singapore Citizens and Permanent Residents

Foreigners residing in Singapore

Less than $10,000

$500

At least $10,000
and less than $20,000

$3,000

$3,000

At least $20,000

6 times monthly income

6 times monthly income

*Figures show the total maximum amount that you may borrow at any time across all licensed money lenders in Singapore as stipulated by the Ministry of Law. The actual amount you can borrow is subject to the licensed money lender’s approval.

Required Documents

Singapore Citizens and Permanent Residents

Foreigners residing in Singapore

Income proof

  • Latest 3 months’ CPF Statements (retrieved from Myinfo using Singpass)
    or
  • Latest IRAS Notice of Assessment (retrieved from Myinfo using Singpass)
    or
  • Latest 3 months’ bank statements showing proof of consistent income
  • For a private-hire driver or delivery personnel: Screenshots of the latest 3 months’ income statements taken from your company app
    or
  • Latest 3 months’ system-generated income statement emails
  • Latest 3 months’ bank statements showing proof of consistent income

Proof of identity

  • IC or Digital IC (via Singpass App)
  • Work Pass ( Employment or S Pass only )

Proof of residential address

  • Retrieved from Myinfo using Singpass
  • Any proof of residential address, such as bank statement and utility bill.
Distressed woman calculating multiple bills, contemplating whether to take a personal loan or not

Ready to start your application?

How to apply?

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Visit our office to apply in person, or

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Submit an online loan application and wait for your
in-principle approval, which will be issued within an hour

Frequently Asked Questions

A personal loan is a sum of money borrowed from a bank, financial institution, or licensed money lender. It is usually an unsecured loan — there’s no need to offer an asset as collateral in exchange for the loan.

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. Licensed money lenders in Singapore typically offer loan tenures ranging from 1-12 months. 

If you have poor credit, you may consider getting a personal loan from a reliable licensed money lender like 111 Credit. Licensed money lenders in Singapore are more lenient in this regard compared to traditional banks.

You may get a personal loan of up to 6X your monthly income if you earn at least $20,000 annually.

Borrower’s annual income

Singaporeans and Permanent Residents

Foreigners residing in Singapore

Less than $10,000

$3,000

$500

At least $10,000

and less than $20,000

$3,000

At least $20,000

6X monthly income

6X monthly income

There’s no fixed limit to the number of personal loans you can have at once. However, the maximum you can borrow from licensed money lenders at any one point in time is capped at 6X your monthly income.  



Licensed money 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. 

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). Try negotiating with your lender for a lower interest rate. If that doesn’t work out, consider choosing a longer loan tenure or taking a smaller loan. 

Yes, you can take a home loan after taking a personal loan.

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. Licensed money lenders like 111 Credit offer greater accessibility than traditional banks.

Start an online personal loan application with 111 Credit

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