Compare the Lowest
Bad Credit
Loan Rates
in Singapore (March 2024)

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rates, apply online & settle faster.

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Updated March 4, 2024

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BAD CREDIT LOAN CALCULATOR
Calculate your repayments

Loan Amount
34

$1,000

$200,000

Term
3

3 Months

48 Months

Monthly Interest
Your Monthly repayment will be
$9,700.88
Total Repayment

$58,200.00

Total Interest

$13,200.00

List of Bad Credit Loan Providers in Singapore (March 2024)

Moneylender Max. Loan Amount (Singaporeans) Max. Loan Amount (Foreigners) Monthly Interest Rate Google Reviews
1 Fullerton Credit 6 times monthly income 6 times monthly income 1-4% 5.0
1 Fullerton Credit 6 times monthly income 6 times monthly income 1-4% 5.0
1st Credit SG 6 times monthly income 6 times monthly income 1-4% 5.0
365 Credit Solutions 6 times monthly income 6 times monthly income 1-4% 5.0
1st Credit SG 6 times monthly income 6 times monthly income 1-4% 5.0
Orange Credit 6 times monthly income 6 times monthly income 1-4% 5.0
365 Credit Solutions 6 times monthly income 6 times monthly income 1-4% 5.0
Quick Credit 6 times monthly income 6 times monthly income 1-4% 5.0
Raffles Credit 6 times monthly income 6 times monthly income 1-4% 5.0
Orange Credit 6 times monthly income 6 times monthly income 1-4% 5.0
A1 Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Abm Creditz Singapore 6 times monthly income 6 times monthly income 1-4% 4.9
Quick Credit 6 times monthly income 6 times monthly income 1-4% 5.0
Bugis Credit Up to $50,000 Up to $30,000 1-4% 4.9
Raffles Credit 6 times monthly income 6 times monthly income 1-4% 5.0
Capital Funds Investments 6 times monthly income 6 times monthly income 1-4% 4.9
GS Credit 6 times monthly income 6 times monthly income 1-4% 4.9
A1 Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Horison Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Abm Creditz Singapore 6 times monthly income 6 times monthly income 1-4% 4.9
Katong Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Bugis Credit Up to $50,000 Up to $30,000 1-4% 4.9
Credit 21 6 times monthly income 6 times monthly income 1-4% 4.8
Capital Funds Investments 6 times monthly income 6 times monthly income 1-4% 4.9
Aero Credit 6 times monthly income 6 times monthly income 1-4% 4.3
GS Credit 6 times monthly income 6 times monthly income 1-4% 4.9
JR Credit 6 times monthly income 6 times monthly income 1-4% 4.0
Horison Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Katong Credit 6 times monthly income 6 times monthly income 1-4% 4.9
Credit 21 6 times monthly income 6 times monthly income 1-4% 4.8
Aero Credit 6 times monthly income 6 times monthly income 1-4% 4.3
JR Credit 6 times monthly income 6 times monthly income 1-4% 4.0

*Today's Moneylenders Rates - 4 March 2024

  • Bad Credit Loan Basics

  • Tips and Hints

  • FAQ

When to Consider a Bad Credit Loan?

A bad credit loan allows borrowers with low credit score access to emergency cash when traditional banks would likeley reject them. These high-cost, short-term loans should only be considered as an absolute last resort during unforesable financial circumstances.

Bad credit loans do not require collateral and provide instant cash to borrowers in amounts usually ranging from anywhere between S$500-S$10,000. Very high monthly interest rate charges of anywhere between 2-4% per month should discourage irresponsible borrowing.

Comparing Licensed Money Lenders in Singapore

Consider lending options from licensed moneylenders versus banks:

Loan Sizes
Moneylenders provide small loans of S$500-S$10,000 to borrowers with a lower credit score while traditional banks usually only lend to borrowers with a higher credit score.
Interest Rates
Moneylenders in Singapore charge 3-4% interest per month on bad credit loans given the higher risk of borrower default or late repayments while traditional banks charge anywhere between 3.5-5% per annum.
Application & Approval Speed
Moneylenders provide quick approval and disbursment of funds sometimes even within the same day while banks take days or weeks to decide on lower credit score applicants.
Benefits of Bad Credit Loans

Below are some of the main advantages of using bad credit loans when facing a financial emergency:

Fast Online Application
Bad credit loan applications via ROSHI take just seconds and approvals can happen within hours. Customer support is available via WhatsApp or mail.
Cash Access with Low Credit Score
With a network of selected and reputable licensed moneylender partners in Singpaore, ROSHI can secures access to cash despite lower credit score borrower profiles.
Quick Cash Disbursal
Upon approval, cash can be released on the same-day directly into the borrower’s bank account, usually within hours.
Few Restrictions
Bad credit loans have no restrictions on usage but amounts below S$10,000 limit major retail purchases.
Apply Online for Fast Approvals

Online applications via ROSHI allow instant matches with licensed moneylenders willing to lend to low credit score borrowers. This saves time versus visiting mulitpe branches. Approvals can be completed within minutes.

Compare Interest Rates

Comparing different licensed moneylender rates and total repayment costs prevent high borrowing expenses.

Provide Personal Documents Upfront

In order to expedite your application provide three recent payslips and a credit report from either CBS or MLCB. Approvals happen quicker with full details provided versus missing critical documentation dragging out application processing.

Explain Unique Situation

If a specific emergency created current bad credit status, carefully explaining the circumstances may inspire lender empathy – especially from community-based financing groups.

Consider Bank Options via Loan Guarantor

Besides higher interest rate unsecured moneylender options, discuss possibilities of lower interest rate personal loans secured by a loan guarantor.

What credit score gets you approved?

In Singapore, licensed moneylenders often approve scores around 630 minimum. Banks typically require higher scores starting from 670 plus.

What income proofs are required?

Expect providing CPF contribution history, IRAS tax notices, recent payslips showing your NRIC, and letters from employers verifying employment.

How high are interest rates for bad credit borrowers?

For licensed moneylenders, interest rates range from 2% to 4% per month given caps under Singapore regulations. Banks charge relatively lower interest rates of about 3.5-5.5% per annum.

How much can I borrow?

Licensed moneylenders can lend up to S$3,000 for up to 12-months repayment period and S$5,000 for a longer repayment period.

What are typical repayment schedules?

Most lenders structure repayment over maximum 5 years with equal monthly repayments. A few lenders might agree to stretch terms for very large consolidation loans.

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