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Get a fast cash loan in Singapore to save the day. Here’s how.

Man in black suit extends his hands for a handshake above a laptop and documents on a desk
Man in black suit extends his hands for a handshake above a laptop and documents on a desk

Unexpected financial emergencies may be daunting but you can always seek financial assistance from trusted money lenders to help sort out an emergency fund. The requirements to borrow from a moneylender in Singapore are not too restrictive and it can be a credible financing option, especially if you need urgent cash or if you have a poor credit history who might get rejected from the traditional banks due to a low credit score.

If you are in dire need of emergency cash, you can consider inquiring from a licensed moneylender for fast cash loans in Singapore. Here’s how.

Check if the moneylender is licensed

A typical licensed moneylender in Singapore needs to be approved and licensed by the Ministry of Law before they can open up their business. Make sure you only go to moneylenders that are licensed. To make sure you are enquiring about the right businesses, you can check against the approved list on the Ministry’s website and ask for detailed documentation.

Know Singapore cash loan requirements

You should also be aware of Singapore’s cash loan requirements. Generally, licensed moneylenders understand that during emergencies, you cannot afford to wait for your fast cash loan application to be approved, therefore they tend to be quick and expedite their approval process as opposed to conventional financial institutions.

The steps that you would generally need to take would be to fill up an application form and the team will get back to you on the loan eligibility within an estimated two working days from the date of the application. This way, loans can be distributed immediately to you in cash without having to wait for cheques to be cleared or funds to be transferred to your account. There are also moneylenders that can get you instant cash loans approved within minutes online – so do your research on the best one that suits your needs before applying blindly.

Know your eligibility

Eligibility for cash loans can vary depending on the type of loan you wish to take and the financial institution you choose. With banks, there are more stringent requirements to get a cash loan where they need you to have a minimum annual income of at least S$30,000. However, if your annual income is lower than that, say less than $20,000, you’ll still be able to get approved for fast cash loans in Singapore from licensed money lenders.

Check your credit score

Typically, a licensed moneylender in Singapore needs a guarantee that you are able to pay back your loan before accepting your application – looking at your credit score is one. You should first understand your credit score to have a gauge at the likelihood of money lenders accepting your cash loan application. Your credit score is a four-digit number used by money lenders and banks as an indicator of the likelihood of you repaying your debt. The higher your credit score, the higher the loan amount that you may be eligible for.

The score ranges from 1000 to 2000, where 1000 would indicate a high-risk borrower that might default on payment; whereas 2000 would mean that you have a good chance at paying back your loans on time. With a small payment, you can find out your credit score from the Credit Bureau in Singapore. This score, together with a risk grade and description will be provided to you in the credit report.

Other more important factors relating to your income can also be considered during the approval process such as your employment status, annual salary, length of employment, and/or bankruptcy/litigation information.

Prepare all the right documents

To be able to get fast cash loans in Singapore, you will need to ensure that you have the correct documentation to prove that you will be able to pay back your loan. You need to provide the relevant documents for cash loan requirements. Whether you’re applying with a bank or a licensed moneylender, you’ll mainly need these two documents: your NRIC and income statement. In general, you should also prepare your income statement, CPF statement, or notice of assessment; proof of residence, or utility bills just in case the moneylender needs additional information.

If you are still wary about getting financial assistance from legal moneylenders in Singapore, here are some myths on Singapore cash loan requirements debunked.


The information provided on our website is for educational and informational purposes only and is not intended to be a substitute for legal or financial advice. While we try to ensure that information on this website is accurate, we do not warrant that the information will be free from error. We shall not be liable for any loss or damage that may arise from the use of this website.

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