Licensed Moneylenders Upper Serangoon
Small Loans, Big Solutions

Short Term Loans
We offer the most flexible repayment terms you can meet with ease.

Short Term Loans
We offer the most flexible repayment terms you can meet with ease.

Short Term Loans
We offer the most flexible repayment terms you can meet with ease.
Eligibility and Documents Needed

Loan applicant must be aged 21 years and above

Singapore Citizen or Permanent Resident

In employment
Eligibility and Documents Needed
- Identification Card (NRIC)
- Singpass Login
- Proof of billing ( Any latest bill indicating residential address)
- Latest 3 month original payslip (Only applicable if there is no cpf contribution)
- Letter of employment (Only applicable for new employment)
For Self Employed
- Identification Card (NRIC)
- Singpass Login
- Notice of assessment (NOA indicating trade income)
- ACRA (Accounting/Corporate Regulatory Authority)
- Proof of billing ( Any latest bill indicating residential address
For Taxi Drivers
- Identification Card (NRIC)
- Vocational license
- Taxi pass
- Min 7 days job summary
- Proof of billing ( Any latest bill indicating residential address)
Upper Serangoon
In the North-East Region of Singapore lies Serangoon. This planning area and the residential town has Upper Serangoon.
The Upper Serangoon Road links nearby districts, Hougang district included. Residents travel faster and with comfort.
Licensed moneylenders in Upper Serangoon create financial confidence. Citizens apply often as long as they are a qualified borrower.
Criteria to Become a Qualified Borrower by the Licensed Moneylenders in Upper Serangoon
Why does it need to qualify before getting approved?
Not all individuals have the same financial status. Some can afford to pay, some don’t.
It is a way for moneylenders to reduce the risk of lending to people who tend to do illegal acts.
Thus, licensed moneylenders follow rules in approving applications.
Here are some criteria on how to qualify for loan approval.
Age
Licensed moneylenders qualify a person depending on age.
What ages does the licensed moneylender prefer? You might ask this one.
The moneylenders prefer to accept ages 21 to 65. Because at this stage, you are at the peak of your career.
More or less, they are financially stable to repay the loan on time.
Ages 21 and below and 65 above are considered as high-risk borrowers.
Why?
21 years and below are still new in the employment world. They had just begun their career.
They don’t have enough credit score yet. Also, they don’t develop a sense of responsibility yet.
For ages 65 and above, they are already in the retirement stage.
Once retired, it means you stopped working. And when you stop working, you stop earning. Where will they get money to pay for the debt?
This is why they are all considered as high-risk borrowers.
Citizenship
Singapore Citizens and Permanent Residents in Singapore have privileges to bank loans.
Licensed moneylenders in Upper Serangoon offer the same. But they allow lending to foreigners.
But there are more qualifications they’ll need for you to present.
If you need instant loan cash, show your residency ID card to your chosen lender.
Income
The source of income has a big role in getting a loan.
Try to think about it.
Where will the borrower get money to pay the loan with interest if he/she doesn’t have any source of income?
We need to earn money to provide our daily necessities. And this is the reality.
This is why the lack of a job gets declined.
Licensed moneylenders in Upper Serangoon need a minimum income.
If you earn less than $10,000 a year, take out a personal loan. The loan amount depends on how much you.
The higher your income, the higher the approved loan amount would be.
Credit Score
The credit score is the reflection of your creditworthiness.
As mentioned earlier, the lack of a job will usually result in a declined application.
It doesn’t matter how much salary you earn monthly.
All legal moneylenders connect with the Credit Bureau.
The Credit Bureau gets all the views of your credit score.
They post all your repayment history. It may be your previous loan or your current loan.
Through them, licensed moneylenders can track down how you repay your financial obligations.
If they found out that you are an irresponsible borrower, that will give them a negative view.
Keeping a good score means you have a good payment habit. And with a great credit score, you can easily get approval.

Licensed Moneylenders Upper Serangoon
Employment Duration
Licensed moneylenders consider the length of your stay in the company. It is part of their assessment.
Licensed moneylenders in Upper Serangoon require at least three to four months’ stay.
Some lending institutions don’t have a specific duration of employment stay. And they do not elaborate as well how it affects your loan approval.
Again, before you decide to get a loan, do personal research first.
Licensed moneylenders in Upper Serangoon assess borrowers.
Borrower’s Requirements with the Licensed Moneylenders in Upper Serangoon
Licensed moneylenders in Upper Serangoon have online personal loans.
Here’s how to do:
STEP 1: Apply online.
The online loan officer will check your application. Wait for the approval. It can happen within 24 hours.
STEP 2: Complete all the requirements needed to submit.
STEP 3: Submit all the requirements to their office.
Afterward, you can get the loan cash you needed.
So simple!
This is how the online application of licensed moneylenders in Upper Serangoon works.
Personal Identification
This card contains all your personal information including your age.
Remember, only ages 21 to 65 will get approval from the licensed moneylenders.
Proof of Citizenship
Not all who live in Singapore are citizens of the country.
This is why proof of citizenship is part of the requirements.
For Singapore citizens, they have NRIC. It stands as a National Registration Identification Card.
For foreigners, they have FIN which means Foreign Identification Number. Also, permanent residents have this one.
Present a photocopy to a licensed moneylender in Upper Serangoon.
Latest Proof of Billing
This kind of billing should be under your name. This bill shows how responsible you are for your monthly obligation.
The bill also includes your current address.
Licensed moneylenders in Upper Serangoon need these details. It shows how accessible you are and how diligent you pay.
Latest 3-month original payslip
Payslips are proof of an individual’s source of income.
The latest payslip will prove that you are earning.
The moneylender can assess you using your latest payslip on how you can repay your loan.
Licensed moneylenders will require you your latest 3-month original payslip.
Licensed moneylenders in Upper Serangoon even allow CPF contribution (Central Provident Fund).
Check your payslip at home and present it to the loan officer.
Letter of Employment
The letter of employment will tell them that you are currently employed in a company.
To get one, you can ask your company’s Human Resources ahead of time. Every company in Singapore provides this document.
Licensed moneylenders in Upper Serangoon allot time for you. Prepare all the documents before you go to the office.
With all this information, you can now assess yourself.
It’s better to check it first, your eligibility and requirements before applying.
Any problem or difficulty in providing some documents? You can seek help from them.
Licensed moneylenders in Upper Serangoon process faster. Especially if you have all the criteria in you.

Browse by categories
Recent Posts
- Hunger Pangs No More With The Best Online Food Delivery Services in Singapore
- Why Singaporeans Choose UOB Personal Loans?
- POSB Home Loans Singapore: Your Guide to Buying a Cozy Home in Singapore
- POSB Personal Loans: Low-Cost Banking Services in Singapore
- Your Financial Guide about UOB Business Loans Singapore