Katong Credit Review

Katong Credit Moneylender
(Product Review)

Updated November 12, 2024

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6 times monthly income

Max. Loan Amount (Singaporeans)

6 times monthly income

Max. Loan Amount (Foreigners)

1 – 4%

Monthly Interest Rate

Current Moneylender Interest Rate Trends

Today’s moneylender interest rate trends in Singapore – As of Tuesday, November 12th, 2024, moneylenders in Singapore are charging an average monthly interest rate of 3.68%

Product Review

Katong Credit is a reputable licenced moneylender in Singapore, renowned for its quick loan processing and customer-focused philosophy. The company aims to offer dependable financial solutions. The moneylender provides various loan products with flexible repayment options and affordable interest rates.

Katong Credit stands out by offering loans to individuals with bad credit histories. Their lending portfolio includes personal, payday, foreigners, SME and small business loans, as well as life event loans for occasions like weddings and home renovations. Despite being relatively new to the market, Katong Credit has already served over 1000 clients, demonstrating their growing presence in Singapore’s lending landscape.

Singapore’s Favourite
Loan Marketplace
Up to 0.5% Cashback*
$20 Grocery Voucher*
Quick 20 Minutes Approval

$1,000

$200,000

3 Months

72 Months

Your monthly payment

337

Rate Disclaimer*

* For a loan amount of $20,000, APR of 6.95%, 5 year tenure, the tot. loan payable will be $26,940 with a monthly cost of $449. An individualised APR will be presented at the end of your application. Max. APR 8.88%. Min. repayment period 3 months, max. 72 months.

Borrowers also gain access to faster approval processes, more individualised attention, and larger loan amounts. The company’s emphasis on honesty and openness guarantees that borrowers loan on reasonable and unambiguous terms.

List of Reputable Licensed Moneylenders in Singapore (November 2024)

Moneylender Max. Loan Amount (Singaporeans) Max. Loan Amount (Foreigners) Monthly Interest Rate Google Reviews
Best Licensed Moneylender 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
Orange Credit 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
1 2 Lend 6 times monthly income 6 times monthly income 1-4% 5.0
118 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
Abm Creditz Singapore 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
Capital Funds Investments 6 times monthly income 6 times monthly income 1-4% 4.9
EZ Loan 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
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 - 12 November 2024

Katong Credit Moneylender Application Requirements

To submit a loan application via Katong Credit, you must:

  • Possess a valid NRIC, passport, or work permit
  • Be at least 21 years old
  • Present evidence of your income, such as bank statements, pay stubs, or CPF statements.
  • Proof of residency (utility bills, lease agreements, etc.) for foreign nationals

PROMOTIONS

APPLICATION PROCESS

  • Apply & Submit

    Start your loan application journey with our quick online application multistep form — it takes just 30 seconds to complete. Our advanced technology and expert loan specialists work together to match you with suitable options on our platform

  • Document Upload

    Provide the necessary documents: your last 3 pay slips, a credit report from CBS or MLCB, and your IC/FIN details. Upload these files through your dashboard or email them to [email protected]

  • Application Review

    Our dedicated customer success team will carefully examine your application, contacting you if any additional information is required. Once we’ve verified your details, we’ll begin the process of matching you with appropriate lenders and loan options.

  • Compare Offers

    Compare loan offers in real-time through your application dashboard. Our customer success team is available to discuss loan details.

  • Lender Appointment

    After you’ve selected a loan option, we’ll assist in arranging an appointment with the chosen moneylender. Note that for moneylender options, assessment and disbursement must be completed in person at their branch.

  • Funds Disbursement

    Once you’ve agreed on the loan terms and signed the contract, you’ll receive a copy of the agreement. This document will outline your monthly payment schedule. Your funds will then be disbursed either in cash or via bank transfer.

Katong Credit Moneylender Highlights

  • Quick Approvals

    You can expect a fast loan approval process to meet urgent financial needs.

  • Competitive Interest Rates

    The moneylender offers Lower rates than many other lenders.

  • Higher Borrowing Limits

    Allows borrowing larger amounts with flexible terms.

  • Personalized Service

    There are Tailored loan solutions to meet individual needs.

  • User-Friendly Application

    Expect an easy online application with quick processing.

  • Trusted and Licensed

    Operates with complete transparency and in compliance with regulations.

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Frequently Asked Questions

How does Katong Credit operate?

Katong Credit offers a range of loan products through a straightforward application process. Customers can apply online or visit their office for a consultation.

Can I apply for a loan with a bad credit score?

Yes, Katong Credit offers loan options for individuals with bad credit. Each application is assessed on a case-by-case basis.

What types of loans does Katong Credit offer?

Katong Credit provides personal, business, renovation, vacation, and wedding loans.

Is Katong Credit a licensed moneylender?

Yes, Katong Credit is a licensed moneylender regulated by the Ministry of Law in Singapore.

How fast is the loan approval process at Katong Credit?

The loan approval process is fast; customers typically receive a decision within 24 hours.

What documents are required to apply for a loan?

Applicants need to provide a valid ID (NRIC/Passport/Work Permit) and proof of income (payslips, CPF statements, or bank statements). Foreigners must also provide proof of residence.

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