Frequently Asked Questions

How much can I borrow?

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; and
  • Any amount, if your annual income is $120,000 or more.

How much is the interest rate?

For Personal or Payday Loans:

Our interest rates range from 1% to 4% per month (reducing basis) no matter how much your loan amount is.

For Business Loans:

Our interest rates range from 5% to 10% per month. Please take note that there is no upfront admin fees for business loans in Advance Planners Credit.

How do I know if you are a legal moneylender?

You can verify our moneylender license with this list of licensed moneylender provided by Ministry Of Law. Do take note that it is a requirement that you will need to physically visit our office for loan application and collect cash. Only unlicensed moneylenders will issue a loan via phone / email and bank transfer the funds to you.

I need an urgent loan, how long fast can my loan get approved?

Typically, our personal / payday loan approval process at our office takes less than an hour.
As for business loan, usually the loan approval takes less than 3 working days.

What are the documents I need to bring when applying for a loan?

Documents required for personal loan application from licensed moneylenders

Singaporeans / PR

  • NRIC
  • Know your Singpass
  • Proof of Residence – Tenancy agreement or Any recent month letter from your letterbox.
  • Recent Payslip
  • Bank Statement (You may log in to Internet Banking)

 Foreigners

  • Work Permit / S Pass / Employment Pass
  • Passport
  • Proof of Residence – Tenancy agreement or Any recent letter from your letterbox.
  • Recent 3 Months Payslip
  • Bank Statement (You may log in to Internet Banking)
  • Employment Contract
  • Staff Card / Pass

Documents required for business loan application from licensed moneylenders

  • Business Profile
  • Identify cards of partners & directors
  • Recent 6 months’ bank statement
  • Upcoming invoices payable by customer
  • Financial statement of your company for the previous financial year

How do I lodge a complaint against a moneylender against unfair practices and/or contract?

You can feedback and contact the Registry of Moneylenders at 1800-2255-529 or e-mail: OneMinLaw@mlaw.gov.sg.

Who can apply for a loan?

  • Applicant must be 18 years old and above.
  • Minimum monthly salary requirement for Singaporean and PR is $1500.
  • Minimum monthly salary requirement for Foreigners is $2000.