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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

Lowest Interest Personal Loan in Singapore

Lowest Interest Personal Loan in Singapore

Lowest Interest Personal Loan in Singapore

When you need a personal loan, definitely you would get one with the lowest possible interest rate. We all need personal loans at some point but finding a lower interest rate can take forever, mostly it depends on lenders. So, we’ve done our research in Singapore on all personal loans offered by banks. Here is the detail of top banks who offered lower interest personal loan in Singapore, with their eligibility criteria, interest rate, and processing fees, etc.

HSBC Singapore

If you need to borrow a loan in a large amount but can’t afford big monthly repayment, HSBC Bank is for you. It offers the longest loan tenure. Further details are as follow:

Bank Loan Type HSBC Personal Loan
Eligibility Criteria Age: 21 to 65 years old (Singaporean/ foreigner)

Minimum Annual Income: S$30,000 (Singaporean) or S$42,000(foreigner/self-employed)

Employment Pass (with the validity of 1 year)

Interest Rate 4% p.a.  (if your annual income is $80,000 or above you can enjoy lower interest rate at 3.7% p.a)
Processing Fees $0
Maximum Loan Amount 4X your monthly salary (8X if your annual salary is S$120,000 or above
Monthly Installments S$617.22
Tenure 1-7 year

Standard Chartered Singapore

Apply for CashOne Personal Loan in Standard Chartered Singapore bank and get cash disbursed instantly to your designated bank account. It has the current lowest interest rate; further details are as follow:

Bank Loan Type CashOne Personal loan
Eligibility criteria Age: 21 to 65 years old (Singaporean/foreigner)

Minimum Annual Income: S$20,000 (Singaporean) or S$60,000 (foreigner)

Employment Pass (with the validity of 12 months)

Interest Rate 3.88% p.a. through money smart
Processing Fees S$199 (currently waived)
Maximum Loan Amount 4X your monthly salary
Monthly Installments S$620.22
Tenure 1-5 years

DBS Singapore – DBS Bank

DBS Personal loans are given either on your personal line of the card or your DBS credit card. But if you don’t have any of them still you can apply for the personal loan.

Bank Loan Type DBS Personal Loan
Eligibility Criteria Age: Singaporean or PR.21 to 65 years old

Minimum Annual income:  S$20,000

Interest Rate Starting from 3.88% p.a. depending on your risk profile
Processing Fees 1%
Maximum loan amount 4X your monthly salary /10x if your annual income is S$120,000 and above
Monthly installment S$619.07
Tenure 1-5 years

Citibank Singapore

Citibank personal loan is called Quick Cash. People who need money fast, Citibank promise to approve their application in 1 hour depending upon their eligibility. Further details are as follow:

Bank loan type Citibank Personal Loan (Quick Cash)
Eligibility criteria Age: Singaporean, PR or 21 to 65 years old

Minimum Annual income: S$30,000 (Singaporean, PR) or S$42,000 (foreigner)

Interest rate 4.55% p.a.
Processing fees $0
Maximum loan amount  4X your monthly income
Monthly installment S$622.06
Tenure 1-5 year

There are many other banks in Singapore which offers personal loans under flexible conditions and low-interest rate depending on your need. Like: CIMB CashLite it has no processing fees, the interest rate is 4.5% p.a. , and the monthly installment is S$315.UOB Personal Loan offers 4.99% p.a. interest rate, 1% processing fees, and monthly installment of S$319, and many other banks.

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.

Type

Description

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

S$100,000

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

S$100,000

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

S$5,000

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

S$1,000

 

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.

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.

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

Fintech

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 Faircent.com.

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.

Is Getting a Personal Loan is a bad Idea in Singapore?

Personal loan Idea

Personal Loan can be a viable option in a variety of circumstances. First, let define a personal loan. Some loans are earmarked for a specific purchase. You buy a home with a mortgage loan; you purchase a car with an auto loan and you pay for college with a student loan.

But a personal loan can be used for just about anything. You can do what you want to do with it.

Getting a Personal Loan is not a bad idea at all! The main advantages of getting a personal loan include the following.

  •       Relatively fast
  •       No restriction on how you can spend money
  •       Don’t require any collateral

So, if you don’t have any assets like a home, or shares or gold to offer as security, and are in need of money urgently, this is perhaps the most convenient option. No doubt personal loans are very successful you can take it out for almost anything.  But its good practice to review your situation before entering into a financial agreement.

So, take a moment to read through the following checklist and ensure your personal loan makes sense and you really need it.

1) Do you have a real reason to get a personal loan?

Getting a small personal loan should never be thought of as a trivial or minor undertaking. While you can secure a loan for almost anything, it’s important to remember that the consequences for defaulting could be dire and life-changing.

2)What should you get a loan for?

When it comes to small personal loans, there is a range of sensible reasons why people choose to take them out. Using a loan to consolidate your credit card into one monthly payment is an attractive idea if taken out at the right time. This is because the interest rate you might get on your small personal loan could be far lower than your credit cards.

3) What shouldn’t you get a loan for?

Getting a personal loan in some cases, in others, you simply shouldn’t. Paying off a student loan is one of those cases where you shouldn’t. A student loan will normally come with a tax advantage and it’s possible that the government could offer a loan forgiveness program in the future. If you switched to a personal loan, then you aren’t eligible for either of these things.

4)Are you overlooking any important factors?

Getting a personal loan should never be a case of walking into your bank and signing on the dotted line. You’ve got to shop around and find yourself the best terms out there from the most reputable lender available. When taking out a loan, never accept anything other than a fixed interest rate loan as variable rate loans can turn out to be an expensive risk to take.

It’s vital that you examine your reasons for wanting a personal loan and work out if it’s really necessary. If you are certain about those reasons then you are good to go with a personal loan.

 

Best Personal Loan and how it Works?

Personal Loan

What is a Personal Loan?

A Personal Loan is a type of loan that is issued by banks and financial institutions including private lenders in Singapore. It is the perfect solution when you are in need of extra funds to finance personal expenses like your home renovation, holidays, education cost, business, medical bills, or anything else. Personal Loans gives you the financial flexibility to use the funds as per your convenience and needs.

How Does Personal Loan Work?

Personal Loan works in the same way any other bank loan works. You apply for a specific loan amount from the bank to pay for things you want or need. If your loan application is approved, you will receive the lump sum amount that you applied for and then pay the bank back in regular monthly bank installments. The monthly repayment amount includes the principal amount plus fees and interest. Personal Loans typically have shorter repayment periods than other types of loans, ranging from 6 months to 10 years.

Does Personal Loan require collateral?

As its name suggests, personal loans are unsecured loans. This means that you don’t need to offer any collateral or assets. Bank will simply review your financial backgrounds, such as your minimum salary and credit score and give you a loan.

Types of Personal Loans that can be the best choice for you

They are personal loans, they come in handy when you need quick cash in emergency situations. They require low-income of RM $1,000, low-interest rate, no early settlement penalty, 48 hours approval and no hidden charges.

Keep these fast approval loans in mind!

  • Debt Consolidation Loans

It’s a type of loan that you take to consolidate or combine more than one existing loans under your name.

  • Fast Approval Loans

These loans can be distributed to your bank account in as fast as 24 hours or up to 2-3 working days. Suitable if you are in urgent need of financing and cash, or need to pay for an emergency.

  • Business Loans

For first-time business owners or starting up a franchise, getting a personal loan can help you secure the seed money to start up your business ventures.

  • Housing Loans

You can use it finance the down payment on your home or even finance all the fringe costs that come buying a home including stamping duties, processing fees, property tax, maintenance fees and to repay the monthly installments on your mortgage.

  • Car Loans

You can use this to put money down for down payments, to service your vehicle, and any related vehicle expense you have. Perfect for your next car or motorcycle.

  • Wedding Loans

A personal loan for your wedding day expenses, which would ideally cover all associated costs such as decoration, venues, food catering and more!

  • Home Renovation Loans

It is a loan to help cover your home renovations or maintenance expenses. It allows you to fund your home renovation projects to turn your house into your dream home.

If you’re in Singapore and looking for personal loans, we can help you with all the details and quick capital too.

Top 3 Business Strategies for Online Entrepreneurs

Business Strategies for Online Entrepreneurs

Who is an online entrepreneur?

To begin with this topic you should have a clear picture of online entrepreneurs. Online or internet entrepreneurs are those owners or risk-takers who use the internet platform to cater to its customers. That is, its value proposition focuses on the web and web designing strategies to produce, market, distribute and promote its goods and/or services.

There are numerous strategies you can undertake to make sure your web-based business reaches success. However, these are the three main tactics you should prioritize in order to be the successful entrepreneur you dream of becoming.

SEO-Search Engine Optimization

SEO today holds significant importance in generating traffic towards your website. What it does is basically makes your website available on google search or any other search engine so people searching for product or services related to your business get access to your website. Or in simpler terms, it affects the online visibility of your web page or website. Hence helping you lure potential customers towards you. It generates quality and quantity traffic to your website example, through organic search results who use keywords that match your website content. It is, therefore, imperative that the content you put up is designed in a meticulous manner that it helps your target audience to easily reach you.
Since online entrepreneurs rely heavily on the internet and its various platform, your website and the content it holds plays a crucial role in the success of your business.

Social media marketing

Perhaps one of the greatest tool you can use in promoting your business and its offerings in social media. From mainstream social media platforms like Facebook to advertisement placements on Youtube channels, one can avail in reaching target markets-national or international with low costs and greater response. You must first answer your basic marketing questions like, who is your target market, and what are you offering to them?
 The benefits of social media are that it helps you create a brand image or identity, can aid in research prior to launch, engaging with potential and/or actual customers, and reaching a much wider audience.

Email Marketing

Sounds old school doesn’t it? Yet statistics show email marketing strategies give the highest Return On Investment ROI to marketing managers about 4 times greater than other strategies. So to establish a successful startup one must:

  • Create a catchy subject line which compels viewers to read your proposal
  • Avoid the use of technical terminology and jargons-in essence, the language you use should be user-friendly
  • Sell your offerings-what are the benefits of your offering and why should people buy it
  • Try avoiding the spam folder
  • And lastly, make your email mobile-friendly

All of these strategies won’t work if you’re lacking dedication, passion, and commitment, the foremost requisites of any successful entrepreneur. Give time and attention to your online business as much as one does to any business in general and watch your hard work bloom into success and profits.

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