Loan Types

Home Loan Types

How to make the most of a failed business strategy

failed business strategy

As an entreprenur, you must know that failure is inevitable but to achieve success you must move forward. Keep a positive mindset and a flexible attitude. It is important to learn from the mistakes and what makes them succeed from previous business owners. A real entrepreneur is not defined by its failures but by how he overcomes that. Following are some ways to get rid of failures and let your business thrive.

You should be ready for every kind of failure either it is in the form of loss of buyers or product etc. Before initiating your business you must set a vision. It will guide you and give you clarity.

To overcome the failure you must know what is going wrong. You must take feedback from your customers it will tell what is missing or flawed in your business. Then make every effort to correct it. You should not be emotional about your business and keep yourself separate from the business. You must run your business like an owner without letting your emotions come between. You must not take money out from your business to quickly and continue investing and reinvesting it. It is irresponsible to eat money from your business just because you are the boss. Your team is what matters for a successfull business. Choose your team carefull. Choose a competitive, capable and skilled team then trust your team. You must make your team believe that this business is as much theirs as yours. Some people just work for their paychecks and have no interest in your ideas behind the business. Such type of people will harm your business.

A fundamental part of the business is to satisfy your customers. Give them what they want. Try to gain their trust. Demand and supply is the core of your business. Find out what your customers desire and try to fulfill them. Your business will not flourish by just one client, continue the search for new clients and add them. Invest in a low budget advertising agency.

Constantly keep a check on your business. Know your strengths, weakness, and profits. Monitor your accounts and all your collected data. If you have faced some problem try to get to its roots. Remain ready to make some hard decisions. Know your errors, either you are paying more salaries than the income you earn or the product is more expensive than its price. Lay off some staff if you need to manage your budget. Remember nothing comes before business.

Keep yourself aware of your surrounding especially your competitors. Know your state policy, most states and countries have laws that promote small business by cutting off some slack and taxes. If your company is still failing to review all the assets. They might be the only money you got. Some time assets act as a lifeline to keep you in the run further. Don’t make emotional decisons especially in dire circumstances. Don’t sell your products and machinery on a hasten impulse because there are a lot of people that will use your these costly mistakes for themselves.

1AP Capital Pte. Ltd.

1AP Capital Pte. Ltd.

1AP Capital is a highly professional licensed money lender company. It issues Personal loans, Renovation Packages, Business loans, and Education loans. 1AP Capital is the ultimate solution to all emergency cash situations. They believe in service excellence. Being a foreigner meeting all the financial needs could be tricky, flexible 1AP Capital foreigner loans can make your stay longer and easier. 1AP Capital has helped thousands of foreigners to access easy financing over the year.  

Borrowing unlicensed money is illegal in Singapore. So, be very careful while getting loans. 1AP Capital company is Licensed, legal, and reputable Money Lender in Singapore specially for foreigners.

Loan Packages:

We have a trained team of loan assistance to help our clients to get the best loan product. Their financial advisors will look at your income and advice you loan products accordingly.

Here is the detail of the loan offered by 1AP Capital.

Personal Loan: In life we all short for money sometimes.  For our financial shortfalls, 1AP Capital has a solution in the form of personal loans. A personal loan is a kind of loan which helps you meet your current financial needs. You usually don’t need to submit any security and collateral while getting a personal loan plus you have the flexibility to use this money the way you want.  

Fast Cash Loans: Getting a loan in Singapore on poor credit history is very tough. But 1AP Capital offers you fast cash loans to meet your daily financial issues. This loan is the best alternative to traditional financial loans because they are easily accessible. You get the money in 30 minutes.

Foreigner loans: Now foreigners can apply for “Foreigner loan” in their financial needs with all the benefits that they deserve. It involves a simple process that is not demanding and has no restrictions. Credit 21 gives financial freedom to foreigners to cover their expenses. 

Wedding Loans: A wedding is the most important event in any person’s life.  But having a perfect and grand wedding costs you much. We ensure to make your life-changing event luxurious. Get an affordable wedding loan to fund your big day through our easy application process.

Home Renovation Loans: Renovate your ideal home with the help of 1Ap Capital Renovation Loan. After getting keys to your dream house, first, you want to do is to renovate your home. It can include; change the flooring, repaint the house, and much more. 1AP Capital will borrow you the 6X amount of your monthly income. Single applicant and the joint applicants can request for this loan.

Payday Loans: Unlike other loans, applying for a payday loan is very easy and fast.  Credit 21 offers you the facility to apply online. Start your payday loan application from the comfort of your home.

Things to know before applying for a loan:

One should be very careful with their finances. If you need extra cash and planning to get cash, there are some important points that you should know before getting a loan.

  • The bank should be licensed with the government.
  • The bank should be flexible. 
  • The bank should have a physical address. 
  • The bank doesn’t rush you in any loan but gives you financial advice first. 
  • The bank should have good customer reviews and rating.  
  • The bank should have clear documentation.
  • The financial advisors should be responsible, honest and patient.
  • The bank doesn’t have hidden terms and conditions. 

Eligibility Criteria:

In order to get loans, you must fulfill certain criteria.

For Singaporean:

  • The borrower’s age should be between 21 and 65.
  • Minimum monthly income of RM 3,000 
  • He/She should not be an undischarged bankrupt.
  • Must have a valid proof of income.
  • Original IC.

For Foreigner:

  • The borrower’s age should be between 21 and 65.
  • Minimum monthly income of RM 3,000 
  • Billing proof.
  • Valid Work permit.
  • He/She should not be an undischarged bankrupt.

How much you can borrow?

1AP Capital offers you a variety of loan packages. Pick one which suits you the most.

  •  If your annual income is less than S$ 20,000 you can borrow up to S$3,000.
  • If your annual income is S$ 20,000 or more you can borrow up to 2X of your monthly income.
  • If your annual income is S$ 30,000 or more you can borrow up to 4X of your monthly income.
  • If your annual income is S$ 120,000 you can borrow up to 8X of your monthly income.
  • You can borrow any amount of money if your annual income is more than S$120,000.

Interest Rates & Repayment Methods:

Most people had hard times while getting loans because interest rates happened to change during the tenure period. That was a hard thing for borrowers to digest. So, in October “Moneylending Advisory Committee” introduced a 4% cap interest rate. 1AP Capital follows this rule strictly. 

Their promise is to give you a loan package that you can easily pay. But if you still have a problem and unable to pay a loan. You can contact with their assistants they will give you an alternative repayment schedule. You can make repayments through Cheque, Cash, and transfer funds via online baking.

There are different methods of repayment.  Equal repayments: This is a good way to repay your loan throughout the tenure period repayment amount remains the same. Choose Equal installments when you are willing to pay a large amount of money as installments at the beginning of the tenure period. You pay an equal amount of money in the entire tenure period in the Fixed Equal Payment method.

News Room:

1AP Capital’s newsroom is full of new and unique loan packages. Let’s take a quick look at 2019 latest loan packages.

Foreign Domestic Helper Loans: Singapore is one of the best places to work as a foreign maid but sometimes things get tough. Singapore has a high cost of living and even considered among the most expensive countries in the world even with a good salary one might be forced to seek alternatives to get through your next paycheck. Foreign domestic worker loans help to rescue in this case.

Weight loss loan: Having a dream body without going to the gym is everyone’s wish. But it costs you a lot of money. If you are lack of funds to have better weight loss surgery, don’t worry.  We offer you wonderful weight loss loan packages at low-interest rates.

Customer Reviews:

1AP Capital Pte.Ltd is a licensed moneylender in Singapore. The company was established with the vision of providing competitive services to the public. The world of marketing has been changed now and social media reviews are important for your brand’s reputation. Customer reviews ensure that your business is genuine and you are providing real services.

“Extra fast services!  the loan officer describes the loan services in a very simple manner for me to understand. I’ll get a loan from them if required.” ~Jimmy shed.

“I’ve been their customer for quite a while, they always help me when I have many outstanding loans. Thank you!” ~Lauren Warren.

1AP Capital Pte.Ltd has got a 3.8/5 rating. It is the #1 reliable moneylending brand in Singapore and recommended by hundreds of people.


Creating new ways of managing Fintech through New Innovative Ideas

fintech new inovative ideas

The “out of box” thinking start-up Crawfort is changing the rules when it comes to loan granting solutions

Management of finances and regularizing cashflow is a challenge for many Singaporeans. In Singapore, there is a community of people faced with limited credit access.

In cases where such help is needed, a top-rated licensed microfinance company, Crawfort, offers an attractive financial solution. Founded by brothers John and James Cheow, the company is best in the market when it comes to upping the ante on the traditional models of money lending and bringing it into a new era of technology-enabled consumer finance.

According to Mr. John Cheow, co-founder and chief investment officer: “Our experience as entrepreneurs has made us realise how hard it is to access capital when you need it the most. Because of this, we identify and empathise with others like us, and want to help individuals, and small and medium enterprises, who need access to credit facilities.”


Crawfort was founded in 2011 by Jjohn and James Cheow, the firm is leading others when it comes to drive innovation and leverage on the emergence of smart digital processes. With these capabilities in force, the company was able to achieve a new high in the streamlining of internal processes and optimizing resources to achieve greater efficiency and productivity.

Now, Crawfort has become a top rated and most trusted name among the firms offering a suite of loans ranging from personal, business to bridging, for a wide range of customers. The company has seen an uptick in returning customers which shows its quality of service and appeal of its comprehensive range of products. Serving as a further testimony of its outstanding customer service standards and delivery, Crawfort has achieved up to 96 percent customer satisfaction reviews.

According to Mr James Cheow, co-founder and chief executive officer:  “At Crawfort, customers are our primary focus. Sincerity, respect and empathy are at the heart of our corporate culture and we believe excellent customer service is a direct reflection of these values. We build trust through the way we’ve approached customer service, and we place a huge emphasis on building a partnership with our customers. We treat every customer with the utmost respect, and we like to make them feel at home. Over time, because of this, we have come to gain their trust and confidence.”


Nowadays, the government has implemented new moneylending regulations, as a result, the industry has largely shrunken in terms of providers — Crawfort has stayed aligned with these changes and has witnessed fast growth. By innovating and steadying its overall approach to conducting business, it has always stayed ahead from the rest of the pack and is continually changing perceptions around moneylending.

Crawfort offers the best customer service and hospitality. It conducts transactions in a comfortable and friendly environment and provides on-time service delivery through quality customer care. Its onboarding and approval processes also provide customers with a simple and seamless experience in applying for access to credit facilities.

Additionally, it appeals to a new generation of customers who are seeking an intuitive and impeccable user experience. Crawfort has deployed the use of innovative solutions to process its loan applications using proprietary algorithmic formulas in its predictive scoring credit methodologies. Crawfort’s approval process is fast and delivers responsible lending, without compromising on compliance and face-to-face customer screening.

As  Mr John Cheow himself says: “We’ve always sought to be a pioneer in the industry in many respects. For instance, we were the first moneylending business to use AXS and SAM machines and post offices for repayment transactions. Thanks to our adoption of the best of today’s technology, we have optimized internal processes, and this has translated to happy customers.”

Five Powerful Morning Habits to Help You Become More Successful

Morning Habits

Success is not a destination rather it is a journey.

With that being said,

It is important to layout the truth here, that you don’t become successful overnight. It takes a lot of effort and sacrifice. You build the ladder to success, yourself. The key to success is developing certain habits that help you be more productive and result-oriented.

One of the most essential habits that is crucial for your success is your morning routine.

Powerful Morning Habits

We all can agree that morning is probably the most important part of the day. It dictates how the rest of your day goes.

In order to help you climb the ladder to success,

Here are the top vital morning habits that will help you perform at an optimal level.

1.       Early to Bed, Early to Rise

A habit that all the successful entrepreneurs have in common, is that they wake up early, before everyone else.

Starting your day early can help you be more efficient as it will give you more time to focus on your goals.

Try to start your day at 4:00 am or 5:00 am by latest. This will give you an edge over others.

2.      Daily Dose of Motivation

You can never be motivated enough. Your brain requires a constant reminder as to why you’re doing all that you’re doing in order to stay focused.

To keep yourself motivated, you need to dedicate an hour of your morning to inspirational anecdotes or quotes.

Listening to inspirational podcasts can make you emotionally invest in your daily objectives, that will, in turn, increase your productivity.

3.      Incorporate Exercise

Exercising is crucial for your mental and physical health.

Including exercise in your morning habit, is an excellent way of getting your body ready to tackle the day. There are countless benefits of exercise for your brain. Also, the metabolism rate of your body is enhanced, as a result, you feel fresh throughout the day.

Blowing-off some steam in the morning will enlighten your mood as well.

4.      Prioritize

To carry out the daily tasks effectively, you need to know how you will be spending your day.

Time can be your best friend or your worst enemy, depending upon how you utilize it.

Scheduling your day, jotting down everything that’s important and then prioritizing them according to their significance, can save you a lot of time.

Before starting your day, make sure you’re organized to compete for the tasks in an orderly fashion.

5.      Intake of Nutrients

Healthy breakfast is an essential part of your morning.

Intake of nutrients that are good for your brain, will help increase your cognitive performance. As a result, you will be able to function better and your mind will be full of energy.

Try to have breakfast that includes;

  • Omega-3
  • Vitamin K
  • Vitamin E
  • Iron

Morning habits play a vital role in setting the tone of your day. So, make sure you have the best morning habits to conquer your dreams.

Uses of Medical Loan In Singapore

medical loan in Singapore

Medical emergencies are unexpected, and at such times of need, not having the finances at hand can be troublesome. Medical loans in Singapore cover multiple types of loaner from people who need finances for emergencies to practitioners who want to purchase medical equipment. Medical loans are much like personnel loans. While most people have their medical finances cover by companies, however, that is not the case for everyone. In such cases, medical loan helps a lot in fulfilling medical expenses.   

The medical loan falls in the category of personnel loan if they are used for emergencies. When medical loans are acquired for purchase of medical equipment, it falls in the type of an equipment loan or inventory loan. Such loans can be lifesavers in the time of need.   

If you are thinking about applying for a medical loan in Singapore either for emergencies or as a practitioner, you are in the right place. In this article, we will cover the basic types of medical loan option available in the market along with competitive medical finances of different loans which include all the factors that you should consider before applying for the loan.  

Personal loans for medical expenses:  

A medical loan that is used for personal emergencies is called personnel loans. There are three types of personnel loans that are mostly used for medical expenses.   

  • Unsecured Personal loan: Personal loans can be used for any purpose, including medical emergencies. All you need to be eligible for unsecured personnel loan is a sound income/salary. You can get 2-4 times your existing salary/income from lenders/banks through this personal loan. The interest rates for such types of loan in Singapore are 2-8% depending on the policies of the lenders/banks.  
  • Short term loan: This is another type of personal loan that is used to bare medical expenses. The only downside to short term loans is the interest rates and fees which are comparatively higher to other loans.   
  • Credit Card: Another financing option that you can consider in Singapore is a credit card. If you have a credit card or if you are eligible for one, then you can use this option to cover your medical expenses. This option is particularly helpful when you have no idea how much money you will need for your expenses. You can also take advantage of the interest-free period of credit card, make sure that your medical expenses are eligible for interest-free purchases and that you have the adequate means to pay back the credit you are using.    

Medical loans help to cover the expenses that are usually not covered by your insurance. It might happen when your copay is too large, or that particular type of procedure is not included in your insurance package. Some common procedures that are not included in the insurance packages are:  

  • Hair transplant surgery  
  • Reconstructive surgery   
  • Weight loss surgery  

These are only a few procedures; you can find many other procedures that fall in the same category.  

How to compare competitive medical financing of different loans?  

Once your mind is made up about applying for the loan, ensure that you choose the right lender/bank. There are many factors that you should have a look before applying for a medical/personal loan. Such as:  

  • Application process: Look at the application process of each bank/lender. The application process can be quite hectic for some banks/lenders. Choose the one that has the shortest application process. It will save you both time and energy.   
  • Credit score: Each lender/bank has different requirements or conditions before they release finances. Take into account the credit score requirements of different bank/lenders and choose the one that is most feasible for you.   
  • Interest rates: Interest rates is the most important factor of them all. Interest rates are different for different lenders. Banks/lenders that have the most feasible condition for the loan tend to have the highest interest rate. Keep this in mind before you make your decision.  
  • Loan terms and condition: The term and condition of each bank are different from the other. You should compare the terms and conditions of different banks/lenders before you make your decision. Never agree on loans with baseless terms.   
  • Fees: Compare the fees that different money lenders/banks offer before you make your decision. Opt for the one that you think fits within your budget.  

You should keep all these factors in mind before you go for a medical loan/personal loan from a bank/lender.

Standard Chartered Singapore

Standard Chartered Singapore

Standard Chartered Bank in Singapore is a member of an international banking group which has more than 150 years of experience in some of the world’s most ever-changing markets. Their purpose is to drive commerce and prosperity through unique diversity and their values and heritage are expressed in their brand promise, Here for good. Standard Chartered has a history of 160 years where they opened their first bank in 1859 and in October 1999, they were among the first international banks to receive a Qualifying Full Bank (QFB) license.

In Singapore, they provide and support both individual and corporate needs to build wealth and drive commerce at every step of their journey. They can do this by providing a variety of financial services across personal, priority and private banking as well as their business, commercial and corporate banking. The bank has a network of 16 branches, 6 priority banking centers, and 29 ATMs.

Loan offered:

When you need cash for education, home improvements, or any personal use, Standard chartered provides you exciting loan packages. Standard Chartered offers loans at competitive interest rates and easy repayment methods which makes your experience hassle-free to live your dreams.

Standard Chartered offers two types of banking. Individual banking and banking for companies.

Individual Banking:

Standard Chartered has offered individual banking which allows customers to use local branches of larger commercial banks. This banking scheme allows customers to open savings and checking accounts, mortgages and personal loads also debit and credit cards and certificates of deposit.

Corporate Banking:

Corporate banking which is also known as business banking refers to the aspect of banking which deals with corporate customers. Standard Charted corporate banking allows businesses to grow and hire people by giving business loans which help in the expansion of the economy and the business itself.

Standard chartered Loan Services:

Personal Loan:

Personal loans are the most common types of loan that you can apply for, you apply for a specific loan amount from the bank to pay for the products, emergency or services you want. When your loan application is approved, you will get the exact amount that you applied for and then pay this amount back to the bank in regular monthly installments. Normally, Personal Loans have shorter repayment periods than other types of loans, ranging from 6 months to 10 years. They require low-income of RM $1,000, low-interest rate, no early settlement penalty, 48 hours approval and no hidden charges.

House Loan:

When you want to build your own house and need financial assistance you can apply for a home loan at Standard Chartered Bank which they have enhanced to offer a fixed monthly repayment with no processing fee for both completed and building under-construction properties. Standard Chartered also covers up to 75% of the financing you require to build your dreams home.

Debt Consolidation Loan:

Manage your finance with Debt Consolidation Plan with Standard Chartered Bank. The debt consolidation loan is a service that combines all loans into a single simple account. It benefits you many ways like you get longer tenure period, low-interest rate than usual, and low monthly repayment. You can choose your repayment plan from 3 years to 10 years. You can manage your repayment amount through online banking, cheque deposit, or cash deposit machine.  You will get a credit limit of 1X your monthly income for the daily expense. There is a $199 joining fee.

Interest Rates and Repayment Methods:

Almost every bank has their interest rates and standard chartered helps to offer lowest and competitive interest rates. Mainly the interest rate depends on the loan amount and the tenure period. Standard Chartered bank working loan capitals have the longest financing period of up to 10 years. The interest rate starts at 4%-7.5%. The monthly repayment is not fixed it can vary and depends upon the loan amount. You can make repayment through the following methods.

  • Online Money Transfer: Online banking has made everyone’s life easy. You can now transfer money from another bank account to Standard Chartered account. 
  • Cheque: Deposit cheque to any branch of Standard Chartered in Singapore. 
  • Cash: You can easily deposit cash to ATMs at any Standard Chartered ATM in Singapore.

Eligibility Criteria:

  • Singapore Citizen or Permanent Resident.
  • Annual income: Minimum $30,000 to less than $120,000 per annum.
  • Age: 21 -65 years old.
  • Employment Pass holders must have their Cards and have a minimum of 1 year left on the card expiry.

Newsroom Standard Chartered:

Standard Chartered introduced Unlimited$aver that unlocks up to 5% cashback* on Unlimited Cashback Credit Card spend.

Standard Chartered Singapore has launched one of the most popular cashback cards in Singapore where clients can earn up to 5% cashback on their unlimited credit cards spends without any cashback cap and no minimum spending amount. This was done based on a study that people are more likely to deposit money into a savings account to enjoy higher cashback on their credit card spend.

Standard Chartered launches one-stop digital FX platform

Standard Chartered Banks has launched LiveFX which can be used from within the mobile app, a one-stop platform that will allow retail clients to make FX conversation in real-time, gain market insights and place limit orders anytime and anywhere at their preferred exchange rates.

Standard Chartered Bank to set up FX e-trading and pricing engine in Singapore

Standard chartered bank will launch this E-trading engine by the first quarter of 2020, offering the bank’s clients FX e-trading of 130 currencies and more than 5000 currency pairs in Spot, Forward, Swaps, Non-deliverable forwards and options, as well as commodities e-trading for both Precious and Base Metals.

Standard Chartered instant issuance of digital credit cards and disbursement of loans

Standard chartered bank has announced the roll-out of its instant digital credit card issuance and loan disbursement capability. The bank’s new and existing customers can look forward to a seamless and speedy credit card or personal loan application online and avail instant issuance of credit card or disbursement of loans.

Customers Reviews:

“Comfortable chairs to wait in and friendly service. Most impressive was the rack of reading glasses for those who need them.” ~Yanling Tng

“One of the best clients I have worked with. Great marketing team which is extremely data-driven!”. Aditya Maheshwari

“SCB this Branch weekly 7 Days open. It’s really helpful for Clients. Good Banking.” ~Allen Joseph Gomes

“It has the longest business hours, at least to what I know, of all banks in Singapore, and it seems that it is always very busy. Nevertheless, the staff there can provide timely and high-standard services while keeping a friendly attitude.” ~Ye Yuan

“Good location for banking needs in the middle of the shopping district in the basement of the popular shopping mall. Brightly lighted banking area with sufficient space within for a break when waiting or performing transaction.” ~Marcus Goh

Credit 21 Pte. Ltd.

Credit 21 Pte. Ltd.

Credit 21 is a licensed money lender in Singapore and registered with the Ministry of the law. People prefer this bank because they keep their customer’s personal information at the highest level of confidentiality. Loans, Interest rates, and repayment plans are negotiable which truly meet your needs. 

Credit 21 understands that time is money, they promise you to deliver it on time. Either you need it at large number to buy asset, afford medical expenses or a small number for home renovations, school fees, fast cash or foreigner loan. This bank is your go-to money lender in Singapore. They guarantee to make your loan application hassle-free process. So, just relax and enjoy their services that any customer can only dream about. 

Available Loans:

At one point or another, we all need extra cash and we look for loans on short notice. But you can’t deny this fact that finding the right and legal money lender is not easy. At such times If you find someone who gives you the fast loan as you need it and at affordable interest rates and repayment plans. Credit 21 is like a blessing to you because it gives you all that you are looking for. Whatever you need get it quickly with Credit 21. It offers you a variety of loans. 

Payday Loans: Unlike other loans, applying for a payday loan is very easy and fast.  Credit 21 offers you the facility to apply online. Start your payday loan application from the comfort of your home.

Foreigner loans: Now foreigners can apply for “Foreigner loan” in their financial needs with all the benefits that they deserve. It involves a simple process that is not demanding and has no restrictions. Credit 21 gives financial freedom to foreigners to cover their expenses. 

Wedding Loans: A wedding is the most important event in any person’s life.  But having a perfect and grand wedding costs you much. We ensure to make your life-changing event luxurious. Get an affordable wedding loan to fund your big day through our easy application process.

Renovation Loans: After getting keys to your dream house, first you want to do is to renovate your home. It can include; change the flooring, repaint the house, and much more. Renovating a home is not cheap. Our home renovating loan helps you in building your ideal home.

Weight loss loan: Getting weight loss surgeries is one of the solutions to get rid of extra fat. But it needs huge funds. If you are lack of funds to have better weight loss surgery, don’t worry.  We offer you wonderful weight loss loan packages at low-interest rates.

Domestic Helper Loans:  You may be earning a handsome salary but there will a time comes when you are short of cash and need extra money in some emergencies. You may need money to send back to your hometown. Credit 21 understands your situation and offers you a flexible domestic helper loan package with a simple application process.

Among those loans, Credit 21 offers you many other loans i-e. business loans, plastic surgery loans, Grabtaxi driver loans, short term loans, luxury goods loans, dental loans, jewelry loans, and furniture loans, etc. There is no shame in getting loans. As they help us with our poor financial needs.


Things to know before applying for a loan:

  • Before borrowing money ask yourself if you are ready to sign all terms or conditions. And you are able to repay (keep in mind your income and expenses). So, borrow only what you need.
  • Before applying for a loan, you should confirm whether the money lender is licensed or not. You can check the names of licensed moneylenders from the list given by the government. Being licensed doesn’t give them any right to use abusive language with you, ask for retaining your NRIC, and SingPass user ID or password. If you find them doing so you can report them to the registry of money lenders.

Eligibility Criteria:

In order to get loans, you must fulfill certain criteria.

For Singaporean:

  • The age should be above 21.
  • He/She should not be an un-discharged bankrupt.
  • Must have a valid proof of income.
  • Original IC.

For Foreigner:

  • The age should be above 21.
  • Billing proof.
  • Work permit.
  • He/She should not be an un-discharged bankrupt.

How much you can borrow:

Credit 21 offers you different kinds of loan packages. Pick one which suits you the most.

  1. Borrow up to S$3,000 if your annual salary is less than S$ 20,000.
  2. Up to 2X of your monthly salary, if your annual income is S$ 20,000 or more.
  3. Up to 4X of your monthly salary, if your annual income is S# 30,000 or more.
  4. Borrow any amount of money if your annual income is S$120,000.

Interest rates & Repayment Methods:

As Credit 21 is working under a government so maximum interest rate it can charge is 4% per month. Fees for late repayments will be S$60 for each month of late repayment. We offer you different kinds of repayment plans. Equal payments, Equal Instalments, and fixed Equal payments. The repayment amount affected by interest rates.   

When you know the period of loan tenure and can afford a change in repayment amounts choose Equal repayments. When you can pay a huge amount of money at the beginning go for Equal installments. The repayment amount varies accordingly; a little increase in the interest rate causes an increment in repayment amount and a decrease in the interest rate causes a decrement in repayment amount. And when you know how much you are going to pay Fixed Equal Payment should be your choice. Increment in interest rate extends the tenure period and decrement in interest rate shortens the tenure period. 

You can make repayments through Cheque, Cash, and transfer funds via online baking.

News Credit 21:

Singapore is one of the few countries who has the honor to adopt new technologies. Even when Samsung, Apple, and Google wanted to test the viability of their contactless cashless payment system they picked Singapore. And now Credit 21 provides you cashless payment services. Singapore can get you Samsung and Apple services in the Association of Southeastern Asian Nations (ASEAN). Samsung pay supports American Express, Mastercard and Visa while Apple pay supports American Express Cards.

Note: Apple Pay and Samsung Pay are now payment methods in Singapore, especially for like SingTel, Starhub, and M1 (Telecommunication Companies).

Customer reviews:

Credit 21 is Singaporeans #1 choice to get loans. Moreover, it is one of the oldest banks providing their services in Singapore but still has got 2.3/5 rating on the internet. People have their reasons. Come on let’s listen to them.

“Never will go again, the collector is so rude. You’ll regret visiting them.” ~Nicholas Kong

“They called at my given contact as a reference like boss or supervisor and tell them I borrowed money and don’t return yet. That was so embarrassing” ~ Dickson Deny

Reviews help you judging the bank’s repute. We’ve read bad reviews but still, someone should not trust on the basis of online reviews. There are many satisfied customers out there too.  Many things depend on your analytics so, choose what is best for you.

Foreigner Loan in Singapore

Foreigner loan in Singapore

Qualifying for a loan as a foreigner is no walk in the park. You have to fill out multiple forms and give your lenders all sorts of the document to prove your residence, income, and employment. Borrowing money from any lender in the past was impossible for foreigners. However, recent changes to the law have made it possible for foreigners living in Singapore to access lines of credit from Singapore lenders.

General Requirements

If your lender offers loans to foreigners, you typically need to have:

  • A Foreign Identification Number
  • An eligible visa
  • Age 21 or older
  • Minimum RM S$3,000 per month
  • Employment pass

4 type of loans to be considered as a foreigner

Living in a foreign country can be challenging. But don’t let financial problems make your experience unbearable. Singapore lenders have provided you with an easy and flexible solution. As a foreigner, you can apply for four main types of loans.



Maximum amount

Unsecured Personal Loan An unsecured personal loan isn’t backed by any collateral and can be used for almost any purpose. And while your interest rate will likely be fixed over the life of your loan, you may have to pay a higher interest rate than with a secured personal loan. Up to


Secured Personal Loan A secured personal loan requires you to provide an asset as a guarantee- like your car or home. It protects the lender by allowing it to repossess and sell your asset to recoup its losses if you default on the loan. Up to


Payday Loan With repayment terms of two or four weeks, payday loans are typically for smaller sums of money. Up to


Installment Loan With a set number of payments over schedule periods of time, installment loans can last for a few months or more. Up to



Student loans for foreigners

Whether it’s NUS, NTU or SMU, the opportunity to study in Singapore can open many doors. But if you can’t afford the cost of attending a university in Singapore, an international student loan may be able to help.

How do loans for foreigner’s work?

For lawful permanent and non-permanent residents, applying for a loan is the same process as for citizens. There are no higher costs or fees, through interest rates may vary. However, the process depends on the lender and type of loan you choose.

Are there restrictions for foreigners?

As a foreigner, you might run into the following roadblocks:

  • If you don’t have a consistent credit history, you may be required to apply with a guarantor.
  • If you’re a foreigner who will be in Singapore for a limited time, approval for a loan may be hard.
  • If you’re not earning a comparatively high income, you may not be able to meet most lender’s eligibility requirements.

Bottom line

Getting a loan as a foreigner involves a lot of paperwork and time. But when you are in need of money, no matter what it’s for, there are options out there for you.

How FinTech is changing the world with new and innovative money lending ideas?


No one can deny the importance of having a growing SME sector in a country as its regularly cited by governments and economists as key to any countries growth as a nation. In Singapore, SMEs account for nearly two-thirds of the working people and a large portion of GDP growth. But if these firms fail to get funding, their failure to thrive has a dampening effect on the larger economy.

For big national level companies and multinationals, the options are endless for accessing credit are established and numerous, but for startups and small businesses, the only solution is to seek a loan.  Their normal route for sourcing loans has been to contact the banks, but for those with no credit history, insufficient collateral, or no proof of a stable revenue stream for repayments, credit solutions offered by banks have remained out of reach – a situation ripe for technological disruption.  

This situation was even become worse by the Global Financial Crisis and subsequent credit crunch in 2008 when banks were no longer able or willing to extend credit of any kind, and small businesses or startups were mostly at the receiving end.  With limited credit resources available, they found few alternatives to the established banks and difficult choices regarding the future viability of their businesses. 

The traditional or manual banking system was too slow for SME’s to get funds to keep their business running and fuel its growth.  According to McKinsey, traditional banks’ average ‘time to decision’ for small business and corporate lending is between three and five weeks, while the average ‘time to cash’ is nearly three months. For those needing access to short-term funding, this effectively renders a loan solution irrelevant, creating a class of businesses underserved by existing institutional offerings. 

How technology can help us overcome this obstacle

Innovation and automation provided the breath of fresh air into lending markets. Computerized applications and back-office processes go part of the way towards delivering the kind of accessible solution that will ease SMEs’ short-term needs.  Many existing lenders realized that it is necessary to shift from traditional system to the new digitalized system they have caught on to this necessity and in some cases have leveraged technology to improve their response times. Digital technology, not just a way of delivering efficiency to existing processes, instead it is proving to be a paradigm shift in how such businesses are structured and run.  FinTech firms are putting pressure on the banks which have the advantage of building their business and systems from scratch and remaining nimble. FinTech firms are moving rapidly into the gaps not covered by the banks, thus they are filling the credit vacuum small businesses previously faced.  They are bringing the change which is much-needed innovation to move forward to a space that has remained traditional for too long.

Utilizing the potential of new technologies such as blockchain, big data, and smart analytics enables new business models to emerge: FinTechs have sharply realized that analyzing client data, including the flows of payments and remittances between counterparties, gives them a powerful tool for accurately assessing risk and creditworthiness.  

In addition to that, digital networks enable innovators to establish lending models that don’t rely on any 3rd party to manage risk and provide liquidity. Other forms of lending are lean, efficient and able to reach parts of the market previously seen as unprofitable or difficult to risk-assess.  This process of avoiding 3rd parties has leverages the inherent flexibility of electronic networks, putting borrowers in touch with lenders in a more direct and efficient way, with smart analysis functioning just like a match-maker to introduce borrowers to lender. 

It’s time to move to new lending models

Apart from making the process smooth, automation has removed the costs out of the process has transformed the economics of lending so as to result it is making smaller amounts cost-efficient to lend to, and smaller borrowers more feasible for both parties. Additionally, technological solutions have also provided convenience in the ways small borrowers can make repayments: in Singapore, technology-based lenders first enhanced the customer experience by offering simple repayments at post offices and via AXS machines. Today, repayments are run largely through online platforms, positively improving business processes for many SMEs each day.     

If you study the business case for FinTechs is mostly very compelling.  It is funded by investors instead of the banks’ reliance on depositors, FinTechs offering very innovative ways of lending are experiencing rapid growth and size of transactions they are handling are set to skyrocket. Statista projects from $64 billion in 2016, the global total could reach $1 trillion by 2025.  

And for lenders, the investment case can be very appealing, as they have to provide relatively low upfront capital demand, alternative lending can offer handsome mid-range return on investment. Across the U.S. industry, lenders gain an average 4.4% return, making alternative lending significantly more profitable than a savings account or other low-yield investments. Investors willing to offer higher-risk loans can access yields of 10% to 12%. In some markets, like India, returns can reach 18-26%, according to lender

Responsible business practices you must follow

We have to keep in mind that the alternative lending space for SMEs is still very new and both parties involved need to take a responsible approach to some forms of alternative lending.  China, which took to the Peer-to-Peer (P2P, one of the faster-moving types of alternative lending) model very passionately and experienced rapid growth. China has recently introduced rules and regulations to protect consumers after concerns that the model could be misused by some unethical operators.  Having snowballed, growth has now decreased as greater regulatory oversight has driven many platforms out of business. With protections for both lenders and borrowers a key element of ongoing market health, responsible FinTech firms should keep abreast with relevant regulatory developments and ensure compliance. 

For Capital C Corporation, taking a proactive approach is key when it comes to feeding new ways of lending. We see the success of FinTechs’ alternative offerings as something with very long-term potential so avoiding the issues experienced in markets like China is the only way to build confidence and trust.  As a result, confidence and trust make for a strong foundation for long-lasting lending businesses. They build a trustworthy base of returning clients who, satisfied with the service they have received, will come back again and again.

A responsible approach to building alternative lending businesses will eventually lead to a sustainable and flexible alternative credit space occupied by companies providing suitable and sustainable sources of finance. A growing SME sector is important for any country’s economy and we feel strongly that with suitable lending options in place SMEs that were in the past underserved by traditional credit institutions can continue to in the long term as Fintech is the only way forward.

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