Frequently Asked Questions

In order to qualify for a cash loan in Singapore, all the following criteria must be fulfilled:

• Be a citizen or permanent resident of Singapore, or for foreigners, have a passport and employment pass.
• Be above 21 years of age, and is not an undischarged bankrupt, nor facing any bankruptcy proceeding.
• Be permanently employed, have a valid work permit (for foreigners) or self-employed with a valid income prove.

Quick Notes Prior to Getting a Loan:

(a) We offer monthly repayment plans
(b) Based on government ruling, the interest rate is from 1% per month, and capped at 4% per month
(c) You can obtain the cash or cheque ON THE SPOT upon loan agreement signed between you and Credit 21 Pte Ltd

What is the Loan Amount that I Can Get?

For secured loans, you can obtain a loan of any amount. For unsecured loans, you can obtain:

For Singapore Citizens and Permanent Residents (PR), you can loan:

• Up to $3,000, if your annual income is less than $20,000;
• Up to 6 times your monthly income, if your annual income is $20,000 and above.

For Foreigners residing in Singapore, you can loan:

• Up to $500, if your annual income is less than $10,000;
• Up to $3,000, if your annual income is at least $10,000, but less than $20,000;
• Up to 6 times your monthly income, if your annual income is $20,000 and above.

Required Documents for a Loan:

For Singaporean/PR:
(a) Original IC
(b) CPF statement / NOA
(c) Billing proof

For Foreigners:
(a) Original work permit
(b) Employment contract / latest 3 months payslip
(c) Billing proof

Important Links:

List of Licensed Moneylenders in Singapore | Ministry of Law
Click here to view the complete list of licensed moneylenders in Singapore, including Credit 21 Pte Ltd.

Guide to Borrowing from Licensed Moneylenders
Answers to questions such as what should you consider before taking up a loan, and how much can you borrow.

What Borrowers Should Know About Effective Interest Rates
The Effective Interest Rate (or “EIR”) of a loan reflects the true cost of taking that loan, by taking into account the frequency of repayments.

Credit Association of Singapore
The Association has set the following as its objectives, (1) To represent, develop and promote the interest of members, (2) To project moneylending as an important and integral part of the business of financing of individuals and businesses, (3) To maintain close ties and cordial relationships with governmental and relevant authorities through consultation and cooperation, (4) To keep members informed of developments in the industry, (5) To advocate ethical practice in the moneylending industry.