What is the easiest type of loan to get with bad credit

Can You Get a Personal Loan in Singapore with a Bad Credit Score?

While being in good credit standing is definitely a bonus when applying for any type of loan from traditional lending institutions such as banks in Singapore, it’s not the end of the world if you happen to have a less-than-stellar credit history. Bad credit loans from licensed moneylenders like us can be a financial solution for you.

What is a loan for bad credit?

Simply put, a bad credit loan is created for individuals who may have faced repeated loan rejections from banks and other conventional lending institutions due to their poor credit ratings. Bad credit loans are an alternative way for these individuals to get access to the financial help they need.

Why take out a bad-credit loan with us?

– Competitive interest rates with flexible repayment terms

Whether their credit score is good or bad, we believe every individual should be able to access financial help when they need it. This is where personal loans for people with bad credit scores come in. We are here to improve your cash flow, not to make it impossible for you to manage. Feel free to compare our interest rates with other moneylenders in Singapore – you will realize we are among the most competitive. Talk to us about your requirements – we have a range of flexible repayment terms and are able to tailor a repayment plan that works best for you.

– A licensed moneylender

Rest assured you are dealing with a licensed and legal moneylender who has your own interest at heart. Feel free to drop by our office and fill out a simple application form for your bad credit loan. We will give you a loan eligibility decision no more than a working day or two after the day you apply.

Eligibility, and how to apply for a bad-credit loan with us

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Please visit us to apply personally. For further enquiries, please call 6481 1788.

The easiest loans to get approved for would probably be payday loans, car title loans, pawnshop loans, and personal installment loans. These are all short-term cash solutions for bad credit borrowers in need. Many of these options are designed to help borrowers who need fast cash in times of need. 

Personal Installment Loans – These are unsecured personal loans for borrowers with less-than-perfect credit scores. You can usually get more money with a personal installment loan than you can with some of the other fast-cash options like payday loans. You’ll also have more time to repay it with a personal installment loan. Generally, borrowers have several months up to a couple of years in some cases to repay the loan and interest. 

Payday Loans – These are also unsecured loans, but they offer smaller amounts of money and less time to repay the loan plus interest. Usually, borrowers have to repay these loans within two weeks, or by their next payday. The higher interest rates combined with the short repayment period can make them difficult to repay on time. Even if you need money now, consider them carefully before you take out this type of loan. 

Car Title Loans – This is a secured loan which means you’ll need collateral to get one. The collateral would be the title to your vehicle. This means that if you can’t repay the loan by the due date, the lender can legally seize your vehicle and sell it. This makes these loans very risky if your vehicle is crucial to your everyday life. 

Pawn Shop Loans – These are also secured loans. But the collateral, in this case, may be any valuable item you own that the lender will accept. It could be jewelry, electronics, musical equipment, or any other valuable item. The lender gives you cash based on the value of the item, then you get your item back when you return the loan and interest. But if you can’t pay it back they can keep your item and sell it. 

Think very carefully, and do plenty of research before choosing any loan. Make sure you’re capable of paying it back on time to avoid any negative effects on your credit score.

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