Frequently Asked Questions
Common questions for borrowers
What is the minimum age required?
You must be at least 18 years of age to take up a loan.
What is the minimum income required?
Singaporeans / PR / Foreigners : $1500
Will my credit history affect my application?
We understand that your past credit record may not reflect your current repayment ability, therefore we look into other things such as your sources of income or assets. Discharged bankrupts are also welcomed to apply.
How much is the interest?
As of 1 October 2015, new regulations were put in place to reduce total borrowing costs. This includes capping the maximum interest to 4% per month.
Are there any other fees?
There is an admin fee of up to 10%. For late payments, there is a late fee of up to $60 as well as late interests capped at 48% per annum.