Am I eligible for a loan?
What must I bring to apply for a loan?
2. Singpass for logging in
3. Recent payslip
4. Bank statement reflecting the crediting of your salaryIf you do not have a property, you will need to bring the additional documents:
1. Your current tenancy agreement
2. Recent Phone/PUB Bill/Bank statement (from your letterbox)
How much should I borrow?
You should have in mind how much you need before you take a loan. For example, if you are taking on a personal loan, you should borrow a loan that is within your monthly salary and take on with an interest rate that you can repay while maintaining your expenditure.
The maximum loan you can take is dependent on your salary and is subjected to our loan officers approval.
For secured loans, you can obtain a loan of any amount. For unsecured loans, you can obtain:
– Up to $3,000, if your annual income is less than $20,000;
– Up to 2 months’ income, if your annual income is $20,000 or more but less than $30,000;
– Up to 4 months’ income, if your annual income is $30,000 or more but less than $120,000;
– Any amount, if your annual income is $120,000 or more.
Can I borrow if I am a foreigner?
1. S Pass / E Pass
3. Letter of Employment
4. Staff card (if any)
5. Recent Phone/PUB Bill/Bank Statement (from your letterbox)
6. Tenancy Agreement
7. Bank statement reflecting the crediting of your salary
How much loan should I take?
You should always take a loan at the amount that you are able to pay off. A common rule of thumb is to use your monthly salary as the amount you can loan. Plus it is important that you take into account of the interest rate before committing into taking a loan.
As such, it is important to know that all moneylenders can offer different rates for the same type of loan. So take the effort to shop around among different moneylenders to see who can give you a suitable interest rate.
Why Everlast Credit?
At Everlast Credit, we will assist you in every way possible. Here are some of the great things Best Credit can do for you.
1. Immediate notification of your loan approval upon application.
2. Appointment arrangement outside office hours.
3. Offering competitive rates.