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Getting a Loan

A personal loan is a sum of money you borrow from a bank or lender to cover various expenses. You don’t have to put up any of your belongings (like your house or car) as collateral. This makes personal loans a flexible option for things like:

  • Weddings
  • Unexpected medical bills
  • Family emergencies
  • Other major costs

Personal loans can be helpful tools in various situations. While they sometimes get a bad reputation, they offer a way to manage expenses like:

  • Planned events: Weddings, home renovations, and vacations are all big costs a personal loan can help cover.
  • Education: If you need help paying for school, a personal loan can bridge the gap.
  • Emergencies: Unexpected medical costs or sudden financial hardship can be eased with a personal loan.
  • Consolidating debt: If you have high-interest credit card debt, a personal loan might offer a lower interest rate, saving you money.

Personal loans are a useful tool, but choosing the right one is important. Before you apply, carefully consider these key factors:

  • Need vs. Want: Do you truly need the loan, or is it for something you can save up for? Only borrow for urgent situations (like medical bills).
  • Interest Rates: Different lenders offer different rates. A lower interest rate means you pay less overall. Shop around and compare offers – places like Crawfort might offer interest as low as 1.8%!
  • Ability to Repay: Can you realistically afford the monthly payments? Factor in the loan amount, interest rates, any fees, and potential late payment charges.
  • Loan Tenure: How long do you have to repay the loan? Longer tenures mean smaller payments but higher total interest over time. Choose a plan you can comfortably manage, and consider repayment frequency (weekly, bi-weekly, etc.).
  • Eligibility: Do you meet the lender’s criteria? Common requirements include being over 21 years old and having a minimum income. Lenders like Crawfort may have more flexible options if you don’t meet typical bank criteria.

Applying for a personal loan in Singapore is straightforward:

  • Find the Right Lender: Compare banks and licensed moneylenders. Consider interest rates, fees, loan terms, and eligibility requirements. Lenders like Crawfort often offer competitive rates and streamlined applications.
  • Complete the Application: Most lenders have online forms. Provide your personal information, income details, and the reason for the loan.
    Submit Supporting
  • Documents: This usually includes proof of income, identity, and address.
  • Wait for Approval: Decisions can be quick, especially with tech-driven lenders like Crawfort, where approvals might take only minutes.
  • Receive Your Funds: If approved, the loan amount will be disbursed to your designated bank account.

Eligibility depends on the lender and your circumstances:

Banks

  • Minimum annual income: Typically S$30,000 (may vary based on citizenship)
  • Foreigners face higher income requirements
  • To borrow large amounts (6x your monthly income): You may need an annual income of S$120,000 or higher

Licensed Moneylenders

  • More flexible income requirements – you may qualify even if you earn less than S$30,000 annually.
  • Less strict overall eligibility criteria.
  • Proof of income still needed: Payslips, CPF contributions, or tax statements.

You can apply for a loan online anytime using MyInfo, unlike banks where you often need to physically visit during their limited hours.

Banks typically close early, which can be inconvenient for people who work late. Crawfort’s online system saves you a lot of time.

If you’re employed:

  1. Your ID card
  2. Singpass account with 2FA (Two-Factor Authentication)
  3. Your last three months’ computerised payslips

If you’re self-employed:

  1. Your ID card
  2. Singpass account with 2FA

If you’re a Grab or Taxi driver:

  1. Your ID card
  2. Grab statements or taxi license

Loan Information

For foreigners:

  • If you earn less than $10,000 annually, you can borrow up to $500.
  • If your annual income falls between $10,000 and $20,000, you can borrow up to $3,000.

For Singaporeans:

  • If you earn less than $20,000 annually, you can borrow up to $3,000.
  • If your annual income is at least $20,000, you can borrow up to six times your monthly income.

The amount you qualify for depends on your ability to repay and your annual income. Completing all required documents increases your chances of approval.

  1. A processing fee is deducted upfront; no additional payments are required.
  2. Late payments incur a $60 fee, so ensure timely payment!

Interest rates start from 1.8% per annum.

Yes, as long as you make repayments on time. Our financial consultants will tailor a loan plan to your financial situation.

We offer various repayment schedules:

  • Weekly
  • Bi-weekly
  • Payday
  • Monthly

No, guarantors aren’t required for personal loans.

We offer loans for various purposes such as studies, renovations, travel, weddings, and medical expenses. Contact us for more information.

Yes, as long as you provide proof of residence.

We’re licensed by the Ministry of Law (License No: 86/2023). Verify on the Ministry of Law’s website.

We offer personalised loan options and clear repayment terms, avoiding potential strain on personal relationships.

We provide simple application processes, quick approvals, and flexible repayment options, unlike banks and finance companies.

No, feel free to enquire without commitment.

Successful applications are kept for at least five years.

No, only single borrower applications are accepted.

Address:

1 North Bridge Road #01-35 High Street Centre Singapore 179094

Hours:

Monday to Saturday: 10:30am – 7:30pm
Sunday, Public Holidays: Closed

During Application

Our system lets you log in with your Singpass, filling in information automatically. This saves time and effort, avoiding errors. Approval in 8 minutes is thanks to our automated system, using big data to assess applicants accurately.

Once you accept our offer and verify in person at our outlet, funds are disbursed immediately.

Yes, but approval is needed, and it can’t be used to refinance.

No, you can only reapply a day after repayment.

We send digital loan statements unless you request a physical copy.

No, we won’t call without your consent.

We send reminders two days before.

Log in to our portal or check with each payment.

Late payment hurts credit and incurs penalties. Contact us if you’re struggling.

We aim to settle internally, but legal action is a last resort.

Poor credit or high debt are common reasons.

You can also pay at AXS.

Contact them for help if you make a mistake.

Yes, you can repay anytime without extra fees.

No, bank and money lender credit bureaus are separate.

After Loan Application

You can easily check your loan status on our management portal. Plus, we’ll send you an e-receipt after each payment via SMS or email, including your remaining balance. If you prefer, you can email us at [email protected] or call us at +65 6777 8080 to inquire.

Absolutely! We prioritize the security of your personal data. We use ChaCha20-Poly1305 encryption to safeguard your information when it’s transferred between your devices and our servers.

We’ll refund you via PayNow. If you don’t have PayNow, you can request a DCA form from our customer service via email ( [email protected] ) or directly from our outlet. Please note, refunds may take up to 14 business days to process.

Usually, payments reflect in our system by the next working day. If your payment isn’t showing, email us at [email protected] or call us at +65 6777 8080. Our friendly team will assist you.

We appreciate your business and will consider increasing your loan limit for future applications where possible.

We strive to provide excellent service. If we’ve fallen short, please share your feedback by emailing us at [email protected] or calling us directly at +65 6661 0909. We’re here to help.

Other Information

1. Types of Loans

Know the different loan options available. We offer secured and unsecured loans:

a. Unsecured loans are based on credit score, with no need for collateral.

b. Secured loans require collateral.

2. Interest Rates

Understand the interest rates and any hidden fees:

a. Examples of hidden fees include origination, appraisal, underwriting, and credit report fees.

b. We don’t have hidden fees at Crawfort.

3. Loan Duration

The length of your loan affects the total cost. Discuss options with our Relationship Manager.

4. Your Financial Situation

Consider your monthly and yearly budgets to decide on a loan amount.

At Crawfort, we tailor loan packages to your needs and financial situation.

It’s a regulatory requirement to prevent identity fraud and protect borrowers like you.

Contact our friendly customer service team at [email protected] or +65 6777 8080 for a replacement.

Getting a Loan

You can apply for a loan online anytime using MyInfo, unlike banks where you often need to physically visit during their limited hours.

Banks typically close early, which can be inconvenient for people who work late. Crawfort’s online system saves you a lot of time.

If you’re employed:

  1. Your ID card
  2. Singpass account with 2FA (Two-Factor Authentication)
  3. Your last three months’ computerised payslips

If you’re self-employed:

  1. Your ID card
  2. Singpass account with 2FA

If you’re a Grab or Taxi driver:

  1. Your ID card
  2. Grab statements or taxi license

Loan Information

For foreigners:

  • If you earn less than $10,000 annually, you can borrow up to $500.
  • If your annual income falls between $10,000 and $20,000, you can borrow up to $3,000.

For Singaporeans:

  • If you earn less than $20,000 annually, you can borrow up to $3,000.
  • If your annual income is at least $20,000, you can borrow up to six times your monthly income.

The amount you qualify for depends on your ability to repay and your annual income. Completing all required documents increases your chances of approval.

  1. A processing fee is deducted upfront; no additional payments are required.
  2. Late payments incur a $60 fee, so ensure timely payment!

Interest rates start from 1.8% per annum.

Yes, as long as you make repayments on time. Our financial consultants will tailor a loan plan to your financial situation.

We offer various repayment schedules:

  • Weekly
  • Bi-weekly
  • Payday
  • Monthly

No, guarantors aren’t required for personal loans.

We offer loans for various purposes such as studies, renovations, travel, weddings, and medical expenses. Contact us for more information.

Yes, as long as you provide proof of residence.

We’re licensed by the Ministry of Law (License No: 86/2023). Verify on the Ministry of Law’s website.

We offer personalised loan options and clear repayment terms, avoiding potential strain on personal relationships.

We provide simple application processes, quick approvals, and flexible repayment options, unlike banks and finance companies.

No, feel free to enquire without commitment.

Successful applications are kept for at least five years.

No, only single borrower applications are accepted.

Address:

1 North Bridge Road #01-35 High Street Centre Singapore 179094

Hours:

Monday to Saturday: 10:30am – 7:30pm
Sunday, Public Holidays: Closed

During Application

Our system lets you log in with your Singpass, filling in information automatically. This saves time and effort, avoiding errors. Approval in 8 minutes is thanks to our automated system, using big data to assess applicants accurately.

Once you accept our offer and verify in person at our outlet, funds are disbursed immediately.

Yes, but approval is needed, and it can’t be used to refinance.

No, you can only reapply a day after repayment.

We send digital loan statements unless you request a physical copy.

No, we won’t call without your consent.

We send reminders two days before.

Log in to our portal or check with each payment.

Late payment hurts credit and incurs penalties. Contact us if you’re struggling.

We aim to settle internally, but legal action is a last resort.

Poor credit or high debt are common reasons.

You can also pay at AXS.

Contact them for help if you make a mistake.

Yes, you can repay anytime without extra fees.

No, bank and money lender credit bureaus are separate.

After Loan Application

You can easily check your loan status on our management portal. Plus, we’ll send you an e-receipt after each payment via SMS or email, including your remaining balance. If you prefer, you can email us at [email protected] or call us at +65 6777 8080 to inquire.

Absolutely! We prioritize the security of your personal data. We use ChaCha20-Poly1305 encryption to safeguard your information when it’s transferred between your devices and our servers.

We’ll refund you via PayNow. If you don’t have PayNow, you can request a DCA form from our customer service via email ( [email protected] ) or directly from our outlet. Please note, refunds may take up to 14 business days to process.

Usually, payments reflect in our system by the next working day. If your payment isn’t showing, email us at [email protected] or call us at +65 6777 8080. Our friendly team will assist you.

We appreciate your business and will consider increasing your loan limit for future applications where possible.

We strive to provide excellent service. If we’ve fallen short, please share your feedback by emailing us at [email protected] or calling us directly at +65 6661 0909. We’re here to help.

Other Information

1. Types of Loans

Know the different loan options available. We offer secured and unsecured loans:

a. Unsecured loans are based on credit score, with no need for collateral.

b. Secured loans require collateral.

2. Interest Rates

Understand the interest rates and any hidden fees:

a. Examples of hidden fees include origination, appraisal, underwriting, and credit report fees.

b. We don’t have hidden fees at Crawfort.

3. Loan Duration

The length of your loan affects the total cost. Discuss options with our Relationship Manager.

4. Your Financial Situation

Consider your monthly and yearly budgets to decide on a loan amount.

At Crawfort, we tailor loan packages to your needs and financial situation.

It’s a regulatory requirement to prevent identity fraud and protect borrowers like you.

Contact our friendly customer service team at [email protected] or +65 6777 8080 for a replacement.