Licensed Money Lender Singapore | Accredit Loan Agency

How much can I borrow?

Accredit offers loans ranging from S$500 to S$500,000 based on your financial situation. We can lend up to six times your monthly salary and, unlike banks, provide loan options for individuals with annual incomes below S$20,000. Factors that influence how much you can borrow: Monthly income Employment status Credit history and past loans Debt-to-income ratio Residency status in Singapore Other debts and financial commitments

What do I need to apply for a loan?

The following proof of identity and financial documents are required to apply for a loan in Singapore: Singaporean / PR Proof of Income (CPF) NRIC Foreigners Payslip Employment Pass Proof of Address (E.g. Telephone bill, Insurance letter, Utility bill and etc)

How long does it take to get approved for a loan?

We can have you approved and funded in as little as 24 hours from your initial loan application. Whether you apply online or at one of our four branch locations around Singapore, our money lenders will work fast to process your loan and conduct all of the requisite checks. Once you have been approved, you can choose your method of payment, including cash, PayNow, or a bank transfer.

What happens once the loan is approved?

Once your loan is approved, our money lenders will guide you through the terms and repayment timeline for your loan. We adhere to guidelines set out by the Singapore Ministry of Law (MinLaw) and ensure that you understand the terms of the loan. Loan Contract Signing: We will provide a loan contract outlining the loan amount, interest rate, and repayment terms. Loan Disbursement: Once the contract is signed, we will disburse the loan amount, typically within 1 hour. The disbursement can be made through cash, PayNow, or bank transfer. Repayment Schedule: A repayment schedule will be provided, an

How can I keep track of my loan balance?

Our easy-to-follow monthly repayment schedule allows you to track your repayments through our online portal or app. Your secure portal provides an overview of past repayments, total loan balance, upcoming payments, and any outstanding payments. Once your final repayment has been received, you will receive a final summary statement detailing all repayments and confirming that your loan is settled.

What interest rates do you charge?

We offer competitive rates in line with market and economic conditions. Unlike some lenders, we don’t charge the maximum interest rates allowed. While the Ministry of Law and MLCB caps interest rates for licensed moneylenders at 4% per month, we go a step further to offer you the best possible rates tailored to your needs.

Do you charge any other fees?

Our fee structure is completely transparent. While some other money lenders in Singapore may charge up to a 10% administration fee on the principal of the loan, we work hard to keep our rates fair and competitive. We know that sometimes things don’t go to plan. If life gets in the way and you miss a repayment, rest assured that any late fees are capped by law—no hidden surprises.

Can I apply for a loan with bad credit?

Yes. Previous loan history is not the only factor we consider when assessing your loan application. Even if you have a low credit score or existing loans, we will assess your application based on your current financial stability and repayment ability.