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ANZ personal loan Singapore

ANZ personal loan Singapore

While going out and seeking loan facility in a country like Singapore, one has to be complete with their homework and related knowledge. Certainly you want a personal loan with flexible terms and immediate approval that is friendly to your pocket. 

ANZ personal loan in Singapore is quite popular amongst people who want to meet their daily life or any other living necessity. ANZ offers two kinds of loans as in ANZ fixed rate loan and ANZ variable rate loan. As the names suggest, they both have their own features that will assist you through the way. However, these loan amounts can be used for more or less the same purposes. Such as if you need to improvise your home, in need of paying for the new car, surprise your loved one with a holiday plan, need to spend some bucks on your dream wedding, have to travel on an urgent basis or required a collective loan amount to pay off other loans. 

ANZ Variable Rate Loan 

As this form of loan presents you with the ease of paying the loan early and do not charge anything. The rates charged on this loan are 15.99% annually that can be varied as per the financial market trend. This loan type brings you at least $5000 and higher up to $50,000 of the loan amount. You can either pay it off within a year or in the period of seven years. As the loan gets approved, you will be charged $150 for once. 

The bank does not use the amount that is paid extra by the customer. He or she can withdraw it whenever they want, though the conditions applied. With the variable rate loan, the client can get an additional amount of loan on the existing repayment plan. Yes! That sounds so favorable for all those who could be in sudden need of extra money. 

It is advised that the client should apply till midday and from Monday to Friday so that they could get approval in a day. For that, it is necessary that you have an account in the same bank so that the amount will be transferred on the same day. 

ANZ Fixed rate personal loan 

In the fixed rate personal loan, the borrowers are secured from facing the floating interest rates. They just have to stick with the one rate and already decided repayment sum. Even if there is a change occurring in the interest rate, you will have to pay as per the agreed rate. 

The interesting thing about these repayments is that you decide what suits you. It means that you can set the repayment amount as per your feasibility, thus, facing no halt in repaying the loan. 

The interest rate charged on this loan type is 12.45% per annum while if you pay the entire amount before time, then you will have to pay $300 more. The loan duration is also from one to seven years. 

For both of the ANZ loans, you must be above the age of 18 and submit the proper financial details along with the employment ones. The applicant is also required to earn $15,000 yearly.

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.

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.”

STARTING A REVOLUTION

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.”


TRAILBLAZING THE WAY

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.”

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.

 

Bad credit personal loan $5000 Singapore

Bad credit personal loan $5000 Singapore

Having a bad credit history means that it has become really difficult for the applicant to obtain loan later in life. Certainly, it affects your reliability and eligibility as a serious borrower. It shows that you do not have sufficient finances as well. 

Although, there are some lenders who could be generous yet smart enough to grant with the loan of around $5,000 despite having a bad credit history on short term. Some of the lenders in Singapore can still offer you this loan amount to meet your financial obligations. Some of these institutions are:

Bad credit loans 

There is no harm in try as you can apply and find out if they are willing to grant you loan or not. The borrower can also visit or call them and ask for an idea about how to get a loan with such financial situation. The online form makes it easier for you to apply and the money gets transferred as soon as possible. The clients are provided with all the details of their loan amount, the rates charged, about the repayment method, etc. these details are provided beforehand so that the borrower will have a clear idea while taking the decision. 

OppLoans 

OppLoans offer you loan money from $500 to $5000 along with the viable repayment terms. The loan is in your account within a day means having an unattractive credit history is not going to disturb your monetary condition. The great thing is that they have the loan term of maximum 36 months and minimum 9 months. All you have to do is to meet their terms of minimum income. The benefit that any defaulter gets from this loan is that it provides you with the chance of improving your credit history. 

Lendela 

It will take you just a few minutes to apply for the loan at Landela and they can get you the borrowing amount of maximum $100,000. Now, as much as you borrow, the monthly payment cost will vary accordingly. The repayment calculator on the website will guide you with the payment schedule depends on the year to 7 years and from $1000 to $100,000. Landela do not ask that for what purpose the borrower needs the money, thus, you are free to use in any legal way that you want. The loan is deposited in your account a day after or in a day that saves you a lot of time. 

Credit thirty3

We know that bad credit history could result due to many reasons and that is why Credit Thirty 3 is the stop for you where you can look for assistance. For all the urgent cash requirements, this place never turns you down. Even if your salary is delayed, you can always look forward to this personal loan and get tension free. The company brings a number of loans to you such as business loan, grab taxi driver loan, payday loan and even if you are a foreigner in Singapore, you can get the Foreigner/ expat loan. The online form gives you the chance to not to waste any time and apply for the 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.

What do you need to know about Unsecured Loans in Singapore?

unsecured loan singapore

The world is evolving at a fast pace. Similar to the needs of people are moving in the fast lane. Most of the people are stuck in situations where they need financial assistance. Savings are not enough they approach for bank loans. Well, further bank loans are divided into different categories to ease the facility of loans. One of the kinds that are most feasible and avail by the people of Singapore are Unsecured loans. Well, there are many benefits but as well as some cons of this loan. So, before you are going to avail the opportunity, just make sure that it is suitable for your position and not damaging anything directly.

Information is necessary for you to get the right loan and make a decision that is beneficial for your financial situation. This information will not only save from any trouble but you can ensure the security of your assets.

Banks might have a little difference in the policy but rates are almost the same. However, we will help you to understand the basics of Unsecured loans in Singapore in a precise manner. Just explore the article and you will get the information.

What is an unsecured loan?

Unsecured Loans are also preferred as personal loans. It is clear by the name that it is dependent on borrowers credit score. These loans are avail without any security of assets. A person must have high credit to get his loan approved.

Types of Unsecured Loans

These unsecured loans have different types which can include personal loans and student loans.

  1. Revolving loan: the loan can be spent, repaid and spent again. It is more like credit cards.
  2. Term Loan: this is the type of loan in which a person is responsible to pay equal installments till all payments are done by the term.
  3. Consolidation Loan: pay off credit cards or signature loans fall in the category of consolidation loans and also unsecured loans.

What you should be concerned about the loan?

If a borrower defaults on a secured loan, the lender can reclaim the collateral to earn the losses. On the contrary, if a borrower avoidances on an unsecured loan, the lender cannot claim assets. However, the lender can take other actions, such as ordering a collection agency to assemble the debt or taking the borrower to the law court. If the court rules in the lender’s favor, the borrower’s pays may be enhanced, a lien may be located on the borrower’s home or the borrower may be otherwise ordered to pay the debt. However, before the approval. The borrower needs to understand the criticality and need of the loan. So, before you file for approval, ensure that you have complete clarity on your needs. Take guidance from a different lender. It is always good to have different options. A slight change in the policy can make it feasible for you. Therefore, do not forget to do your research before applying for Unsecured loan in Singapore. 

Katong Credit Pte.Ltd. Singapore

Katong Credit Pte.Ltd.

Katong Credit is a licensed money lender in Singapore. It is a company built on trust and integrity and has a pool of clients from different walks of life. It is a nightmare to apply for a loan with a poor credit score. Either bank rejects your application or borrows money at high-interest rates. But Katong Credit has designed “Fast Cash Loan” to access cash. It is also known as “Bad Credit Fast Cash Loan.” Their custom loan products suit your needs. Their eligibility criteria are very easy even for foreigners they offer foreigner loans as well. Visit their website and get their amazing services.

Types of Loans offered by Katong Credit Pte.Ltd:

There are many certain points in our lives where we need financial support. You may need a loan to start a new business, home renovation, to pay off medical bills, or finance a new car. Katong Credit Pte.Ltd offered you a wide range of loans.

  • SME Business Loans
  • Foreigner / Expat Loans
  • Vacation loans
  • Domestic Helper Loans
  • Home Renovation loans
  • Wedding Loans
  • Luxury Goods Loan
  • Furniture Loan

Bad Credit Loans:

Getting a loan in Singapore on low credit rates/ poor credit history/ bankruptcy is almost impossible in Singapore. This has made the life of many people difficult. But Katong Credit understands that making low payments on bills and loans has lower your credit score. Many moneylenders deny you to give loans but Katong Credit gives you hope and gives you a loan on low interest with:

  • Bad Credit Fast Cash Loan
  • Bad Credit Payday Loans

Personal loan:

A personal loan is one of the most flexible loans available. Because you are not restricted to the way you want to spend this borrowed money. It is also known as “go-to-loan”.

Here are some different things that you can use a personal loan for:

  1. Pay off credit cards: Personal loan is useful for your outstanding balance on credit card. Get a personal loan, pay off your debt and then repay this loan over time.
  2. Medical Cost: Technology has made new inventions in medical science which made treatments easy but also very expensive. Like fertility treatments, dental services, and cosmetic surgeries, etc. You can use a personal loan to bear such medical expenses.
  3. Moving Expense: Although Singapore is not a big country it costs much to move offices & houses. In some cases, you may need new furniture and other accessories. With a personal loan, you can cater to that as well.

What you should know before applying for a loan:

Before applying for a loan, you should know that bank and the given package is ideal for you. Katong Credit provides all its customers the financial help they required. They approve your loan in 24-hours. The interest rate is depending on the type of your loan; if it is collateral-free then the interest rate will be higher if not then the interest rate will be low. But it is important to know the interest rate should not be exorbitant.

Who can apply?

Permanent residents of Singapore or a foreigner with passport and employment card. If you are permanently employed, you should have a work visa. Self-employed with a clear record of cash flow to apply for a loan.

Requirements & Documents:

  • Age above 21
  • Proof of Income
  • Handphone bills and proof of residence
  • Work permit (Foreigners)
  • Copy of NRIC card

Negotiation loan terms & Repayment methods: 

Usually, financial managers are responsible for negotiation term loans but this whole process is not as one-sided as it appears. The bankers always don’t win. You just need to think like a banker and understand his objectives to force you to get a specific kind of loan. Once you understand his objective you can save yourself from getting the loan you might don’t need. If you are good at talking you can force the financial manager to lower down your interest rate. If you succeeded and lower your interest rate even 1% you can save a huge amount of money.

Repayment Methods:

When a customer takes a loan from a bank, the bank expects that soon customers will be able to repay this loan. Interest rates are charged on the amount of the money. You can repay your loan in three different methods.

  • Equal Payments: if you know exactly when the loan period is going to end and you can afford a possible rise in interest rate than equal payments is your good to go for the repayment method. The repayment only changes when the interest rate changes.
  • Equal Instalments: When you want to make bigger repayment at the beginning go for this repayment method. Normally installment remains the same but according to the interest rate it varies: the increase in reference rate causes an increment in repayment; a decrease in reference rate causes a decrement in repayment.
  • Fixed Equal Payment: When you know how much you are going to repay; it is a handy repayment method because increment in reference rate extends the tenure period and decrement in reference rate shorten the tenure period.

Choose the repayment method that suits you.

News/Article:

Katong Credit introduces new packages according to the need and feasibility of customers. This has made their services more attractive. For example, on June 24, 2019, they have introduced “HDB Home & Condo Renovation loan” with fast and easy approvals. In Singapore its everybody’s dream to have their home. After owning a home, the next step is to renovate it and maintain its beauty. For which Katong Credit offers you home renovation loan. Similarly. Katong Credit understands the importance of exercising but it also knows gyms are very expensive in Singapore. Katong Credit helps you getting Gym Membership so that you can maintain a healthy lifestyle.

The new and very interesting loan is “Hair loss Treatment Loan”. Katong understands that thinning hair, balding, and hair loss could be the worst nightmare in men’s life. As its treatment is quite expensive. Katong Credit gives loan for this too.

Customer Reviews:

Customer review plays an important role in the reputation of any industry. When it comes to the bank’s loan review, it is considered an important tool for others to identify risks. If you need cash you just can’t take a loan from any bank. As banking is a customer-oriented industry and customer’s satisfaction is their key aspect. Let’s see what people have to say about Katong Credit’s services.

“Nice business to deal with, simply accessible place with quick approval. Personnel was kind and clearly explain the loan terms to me. They have also very good repayment plan.”  ~Yvonne Sim

 “I explained my situation to the collector that I needed some time to make a payment, the collector understands my situation and gave some additional time.” ~Mathew Ong

There are many other customers around the country who are satisfied with their services and recommend Katong Credit. But it is advised not to always depend on reviews as every person has a different experience. In the end, you are going to face the consequences of your choices so make the right choice.

Personal loan for Malaysian working in Singapore

Personal Loan for Malaysia worker

You are working in a neighboring country like Singapore and you are short on cash and financial difficulties seem overwhelming, finding reliable access to fast cash is the best solution to ease all your concerns. The First best solution that will come into your mind would be getting a personal loan. But being a Malaysian can you apply for a “Personal Loan” in Singapore? The answer to that question is YES, and the good news is that it’s not as complicated as it seems.

Banks in Singapore provides best interest cost, fees, loans tenures, and promotions. The average effective interest cost of all personal loans in Singapore is about 13% to 15% but some banks charge lower interest rates, 5% to 7%, making them more affordable. As it allows you to make affordable monthly payments with as short of tenure as you can manage.

Now the question is which requirements need to be fulfilled for a Malaysian in order to get a personal loan.

  • Minimum monthly income of RM 3,000
  • Must be 21 years old or above
  • A copy of passport, visa or work permit
  • Bank account statement for the last six months
  • Three months salary slip

You will have to full out an application form among the necessary documents mentioned above and then wait for the application to be processed.

Your application will be approved in 48 hours. You can get the least interest cost i-e 5%, depending on which bank you are applying, and get loan tenure up to 7 years. For best services, we prefer HSBC Personal Loan, HL Bank Singapore, and CIMB Bank Singapore.

You see it’s not difficult for Malaysians to apply for Personal Loan in Singapore. Besides these, here’s what you need to know before applying.

Does the type of company you are work at the effect you obtaining personal Loans?

If you are working in a multinational company (MNC) then the chance of getting your loan approved by the bank will definitely be higher than if you work for a foreign company that the bank has never heard of. Banks tend to trust employees of a reputable company more as they believe it indicates that you are a skilled employee and that there is less chance for you to lose your job.

What should be your minimum income to apply for Personal Loan?

Being a Malaysian, you should be earning at least an equivalent of RM $300 per month before you think about applying for a personal loan.

How much Loan amount will you be granted by the bank?

As for the personal loan, the amount depends on your monthly income. Suppose, if you earn RM 3,000 per month then you can borrow up to 6 times their monthly salary.

Conclusion

So just because you are Malaysian, it doesn’t mean that you can’t take a loan in Singapore. We hope that we have managed to answer your questions pretty well and you find this article wiser to plan for your loan.

Personal loan Singapore bad credit

Personal loan Singapore bad credit

Having a bad credit history could be problematic when you are in need of some personal loan, especially in a country like Singapore. There are several situations that lead you without having any income or money for the hard times. However, there is some insurance that covers the cost, but even they are not enough sometimes and you need to have a personal loan. 

For obtaining a personal loan, it is necessary that you have a good credit rating otherwise it becomes very difficult to obtain any loan. It may look challenging, but there are always options that you can discover, such as:

Reform the existing debt amount 

Having a negative credit score means that you have some unresolved debt in hand that you need to repay. Prior to applying for any personal loan, it is advised that you get rid of the debt that you already have on your side. This is the only way through which you can progress towards a better credit score. 

You can ask a few favors from your bank, like to decrease the interest rate so that you do not have to pay an extra amount of debt on your currently owed money. The other option is to speak to your bank if it can increase the payment period so that you could pay a possible amount every month. This way, you can pay at least some of the amount. 

By reforming your debt structure, you can actually pay it pretty soon by not stopping the borrowed amount. Smaller amounts will keep your status active and your credit history will get improved and will help you in getting a loan in the future. 

Request for the minor amount first 

To have a neutral effect over your lender, it is advisable if you apply for the small amount of the personal loan first. 

Earlier, we have talked about repaying the loan in small amounts and longer payment periods for improving the credit history. Applying for a reasonable amount at first will help you in coagulating that relationship with your bank. You need to ensure about making payments on time and not to miss any of them. This is an important step that will help you in maintaining your loan reputation. When you continue with this practice, the money lenders will have an idea to grant you with the bigger loan next time. 

Personal loan from non-banking sector 

Certainly, banks are strict with the bad credit history holders and maybe refuse you for the loan amount. The financial institutions like Singapura Finance also offer personal loans to the people. They have some distinctive rules and regulations like with their packages and risk factors, but you eventually get the loan. It does not mean that they do not care for your history; they just have another way to deal while granting loans to you. 

Whoever you are taking a loan from, just make sure that everything is documented and you have approached the licensed company or bank in Singapore.

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