There’s no question that personal loans are a helpful way to cover unexpected expenses. However, it’s important to choose a lender that can meet your needs while also offering a competitive interest rate and flexible loan terms.
Licensed List of top personal loan licensed money lenders Singapore can provide you with loan amounts up to 2-6x your monthly income, with terms up to 120 months, depending on your financial situation and creditworthiness. Compared to banks, money lenders offer a faster application process and can usually approve your loan within 24 hours. They’re also able to make funds available within a few days of approval. This is because money lenders are not regulated like banks, and their lending rates are often more competitive than bank rates.
When choosing a personal loan, it’s important to research several lenders before making a decision. A good place to start is by asking friends and family about their experiences with different companies. You can also find a lot of information by doing online research. Once you’ve found a few companies that seem to match your criteria, read their rates and fees carefully. You’ll want to look for a lender that offers low rates, zero late fees, and plenty of flexibility when it comes to repayment terms.
Here are the top five best personal loan lenders:
PenFed Credit Union
This lender earned the second spot in our list thanks to its low interest rates, no signup or origination fees, and flexible loan amounts and terms. Plus, it offers unemployment protection, which can modify your loan payments and help you get back on your feet if you lose your job through no fault of your own.
You can apply for a personal loan with this lender by visiting its website or calling its customer service line. You’ll have to provide proof of income, a copy of your driver’s license, and the last few months of pay stubs to be approved for a personal loan from this lender. This lender also allows borrowers to borrow up to $200,000 without pledging collateral, which is a great option for borrowers with bad credit who might not be able to qualify for a loan at other places.
BHG Money
This money lender has a great reputation in the industry for its customer service and affordable loan terms. Its unsecured personal loans are available in small and large amounts and can be used for a variety of purposes. In addition, BHG Money offers flexible repayment terms and no prepayment penalties. It’s also rated A+ by the Better Business Bureau.
U Credit
U Credit is a Singapore-based money lender that offers flexible loan terms and a variety of interest rates. Its unsecured personal loans can be used for any purpose, and it offers a fast application process. Additionally, it has a friendly and knowledgeable customer service team.
U Credit has a number of loan packages that are suitable for both foreigners and residents in Singapore. Its loans are backed by years of experience in the finance industry and its customer satisfaction is a top priority.