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Payday Loan

Quick Payday Loan Singapore, Urgent Cash Loans


Application for all EP & SP HOLDERS

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Fill in an application form on our website

Make a request on our website and wait for team of expertise to get back to you in the soonest time possible from the time of the request during business operating-hours.

Our staff will contact you to clear up the details

Wait for response while we are helping you to process
with your online-application.

Receive your money in the most convenient and easiest way with AGMCredit

Upon application approval, you shall receive the money via bank-transfer or meet-up at one of our desire meet-up point which is convenient for you. Easy and simple as 1 2 3.



You should keep these key points in mind:

  • Before approaching a moneylender, consider other alternatives, such as the various financial assistance schemes offered by various Government agencies. You may contact the agencies to find out more about their schemes.
  • You are legally obliged to fulfil any loan contract you enter into with a licensed moneylender.
  • Consider whether you are able to abide by the contractual terms, bearing in mind your income and financial obligations. Borrow only what you need and are able to repay. Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family.
  • The law requires moneylenders to explain the terms of a loan to you in a language you understand and to provide you with a copy of the loan contract. Make sure you fully understand the terms of the contract, in particular, the repayment schedule, the interest rate charged and the fees applicable.
  • Consider carefully before agreeing to any contractual term which allows a moneylender to lodge a caveat on the sale proceeds of your real estate property upon default of the loan repayment. When a caveat is lodged against your property, you will not be able to sell it without first repaying the moneylender in full. If the repayment is taken from the net proceeds from the sale of the property, it can wipe out all or a substantial portion of the proceeds.
  • You should shop around different moneylenders for the most favourable terms. You should not rush into and commit yourself to a loan until you are satisfied with the terms and conditions.

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.

With effect from 1 October 2015, the maximum interest rate moneylenders can charge is 4% per month. This cap applies regardless of the borrower’s income and whether the loan is an unsecured or secured one. If a borrower fails to repay the loan on time, the maximum rate of late interest a moneylender can charge is 4% per month for each month the loan is repaid late.

The computation of interest charged on the loan must be based on the amount of principal remaining after deducting from the original principal the total payments made by or on behalf of the borrower which are appropriated to principal. [To illustrate, if X takes a loan of $10,000, and X has repaid $4,000, only the remaining $6,000 can be taken into account for the computation of interest.]

With effect from 1 October 2015, all moneylenders are only permitted to impose the following charges and expenses:

  • a fee not exceeding $60 for each month of late repayment;
  • a fee not exceeding 10% of the principal of the loan when a loan is granted; and
  • legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.

The total charges imposed by a moneylender on any loan, consisting of interest, late interest, upfront administrative and late fee also cannot exceed an amount equivalent to the principal of the loan. [To illustrate, if X takes a loan of $10,000, then the interest, late interest, 10% administrative fee and monthly $60 late fees cannot exceed $10,000.]

payday loan Singapore


Things you should know on borrowing:

  • Maximum Period for Repayment Up to 12 Months
  • Minimum Period for Repayment From 2 Months Onwards (Above 60 Days)
  • Minimum Annual Percentage Rate From 12% per annum
  • Maximum Annual Percentage Rate Up to 36% per annum on reducing interest rate

Sample representation of loan with maximum rates:

  • Total Amount Borrowed SGD 1000
  • Time Period * 12 Months
  • Interest Rate ** 1% Per Month
  • Total Cost Payable Per Annual * (excluding loan principle) SGD 120

* Time period is from minimum period of 2 months to maximum period of 12 months.
** Interest Rate may vary up to a maximum of 3% per month, depending on loan amount and period of repayment.
* Total Cost Payable exclude administrative fee. Cost stated is an estimation and may vary due to loan amount, period of loan and other fees such as late fee and late interest rate may be charged in the event of violation on terms & conditions. Late fee does not exceed 10% of the principal of the loan when a loan is granted. Admin fee are charged not more than 10% of the loan amount

Above mentioned example is based on estimation and for illustrative purposes only, Do get a clearer illustration with the respective licensed moneylender(s) as final loan amount, and repayment terms may vary. Additionally, penalty fees such as late fee and/or late interest rates may be charged in the event of violation on terms & conditions as per stated in contract