No-Credit-Check Loans in Singapore (2025)

Best Licensed Moneylender Ltd is highly regarded for its swift loan processing, transparent terms, and competitive interest rates, as highlighted by hundreds of Google Reviews.

How to qualify:

• Must fulfil basic credit assessment requirements for customised loan support
• Provide proof of stable income

KEY FACTS

Customers benefit from a user-friendly online application, flexible repayment plans, and personalised support, making it a trusted financial partner in Singapore.

PRODUCT DETAILS

Qualification Requirements

• Must be at least 21 years old.

• Singapore Citizen, Permanent Resident, or foreigner with a valid employment pass.

• Singaporeans or PRs need a minimum annual income of S$20,000, while foreign workers require S$40,000.

Term Lengths
Customisable

Fees
Will be notified upon registration.

Orange Credit, a Singaporean licensed moneylender since 2011, offers quick, reliable loans, including personal, payday, foreign, and business options.

How to qualify:

• Provide proof of income and employment

• Provide ACRA certificate for business owners

KEY FACTS

Renowned for its fast approvals, competitive interest rates, and transparent terms, Orange Credit provides a hassle-free and reliable lending experience, making it a preferred choice for borrowers who need quick and accessible financial solutions.

PRODUCT DETAILS

Qualification Requirements

• Applicants must be at least 21 years old.

• Provide your original NRIC, Singapore Work Pass (E Pass, S Pass, WP and LTVP).

• Submit the latest 3 months of original payslips, which must include the company letterhead, stamp, and signature.

• Provide an original PUB bill or mobile phone bill reflecting your residential address.

• Provide ACRA documents for business owners.

• Taxi drivers must include their Taxi Vocational License.

• Salaried employees should ensure consistent CPF contributions for the past 3 months (printing the contributions is not required).

Term Lengths
Up to 36 months

Fees
Will be notified upon registration.

1 2 Lend offers quick, accessible short-term loans for diverse needs, featuring a low admin fee and streamlined online application.

How to qualify:

• Must provide NRIC or Work Permits along with proof of income and employment

KEY FACTS

Borrowers benefit from flexible 1-12 month repayment options and transparent, efficient service.

PRODUCT DETAILS

Qualification Requirements

• Must be 21 to 65 years old.

• Valid for Singapore citizens, Singapore Permanent Residents, and foreigners with valid Employment Passes or Work Permits.

• Must provide: 

• NRIC or passport.

• Employment Passes or Work Permits for foreigners.

• Recent payslips, CPF statements, or bank statements.

Term Lengths
Up to 12 months

Fees
One-time admin fee of 3.5% on the approved loan amount.

1st Credit SG offers various types of loans with low interest rates.

How to qualify:

• Personal loan from 1st Credit SG is only available for Singapore Citizens or Permanent Residents

• A stable income of at least S$10,000 per annum, or proof of ongoing business activities, is required for applicants

KEY FACTS

1st Credit SG, a licensed Singaporean moneylender, offers a variety of flexible loan options for personal, business, and special occasion needs, emphasising transparent loan services.

PROS & CONS

Pros

• Fast approval

• Licensed provider by the Ministry of Law

• Low interest rates

• A wide variety of loan types

• Accessibility for some who have declared bankruptcy by providing a letter of discharge

Cons

• Must have an annual income of at least S$10,000 or stable business activities for personal loans

• Applicants must be Singapore Citizens or Permanent Residents

PRODUCT DETAILS

Qualification Requirements

• Must be at least 21 years old.

• Must be Singapore Citizens or Permanent Residents to be eligible for personal loans.

• Must provide a valid NRIC, original PUB, or mobile bill reflecting residential address.

• Provide current employment contract and the last 3 months' salary statement.

• Provide the latest 6 months or more CPF contribution statement.

• Income tax statement or last two-month income tax returns (for self-employed applicants).

• Must not be an undischarged bankrupt or facing bankruptcy proceedings.

• Proof of discharge from bankruptcy

Term Lengths
Not stated

Fees
Not stated

118 Credit offers a wide range of loans for individuals and businesses.

How to qualify:

• Must be at least 18 years old

• Provide residential proof

KEY FACTS

118 Credit uses Singpass Myinfo integration for a streamlined, secure loan experience. 

PRODUCT DETAILS

Qualification Requirements

• Must be at least 18 years old.

• Provide a valid NRIC (front and back) OR Passport copy.

• For non-homeowners, one of the following residential proofs:

• Latest utility bills (electricity, water, refuse).

• Latest bank or credit card statements.

• Rental agreement copy showing address.

• Latest mobile or pay TV statements.

• Employer letter with current address.

• Must be a Singapore Citizen, Permanent Resident, or hold a valid Work Permit, S Pass, or Employment Pass.

• Must show Singpass mobile application access for CPF, IRAS, and HDB data.

• Provide 3 months' payslips.

• Any additional income documentation.

• Optional supporting documents (if applicable):

• Sale and purchase agreements.

• Vehicle registration card/log card.

• Hire purchase application.

Term Lengths
Flexible terms

Fees
Up to 10% of the loan amount

1 Fullerton Credit has been a reputable Singaporean moneylender since 2009, backed by strong customer reviews and industry recognition.

How to qualify:

• Must provide proof of residency and proof of employment

• Must meet the minimum income requirement of S$2,000 for locals and S$3,000 for foreigners

KEY FACTS

1 Fullerton Credit provides a wide range of loans with rapid approvals and transparent terms. They offer a user-friendly experience with competitive rates.

PRODUCT DETAILS

Qualification Requirements

• Must be at least 21 years old.

• Provide a valid NRIC or Passport. 

• Must provide a Work Permit, S Pass, or Employment Pass for foreign applicants.

• Minimum income of S$2,000 for Singapore Citizens or S$3,000 for foreigners.

• Proof of residence (utility bill, letter addressed to you, tenancy agreement).

• Proof of employment (certificate if employed less than 3 months).

• Provide recent 3 months' payslips.

• Provide SingPass access (CPF, HDB, IRAS).

Term Lengths
Decided during the in-person appointment

Fees
Up to 10% of the loan’s principal once it’s granted

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No-credit-check loans in Singapore do not require a formal review of your credit history or score, making them an option for borrowers with thin credit profiles or past credit challenges.

These loans typically range from S$500 up to 6 times of applicant’s monthly income and are often used to cover urgent expenses like medical bills, overdue payments, or home repairs.

Without a credit check or collateral, lenders rely on alternative data points, such as historical approval patterns, to assess applicants. 

However, this accessibility often comes with higher interest rates and short repayment terms, typically lasting 1 to 6 months. Therefore, borrowers should consider their ability to repay to avoid financial difficulties.

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Loans from licensed moneylenders

Licensed moneylenders in Singapore operate under the regulation of the Ministry of Law, offering a legitimate option for borrowers with financial needs. 

These loans are typically unsecured, meaning no collateral is required, and they cater to various purposes, such as covering emergency expenses or consolidating debts. 

Borrowers can also expect fast processing, with funds often disbursed on the same day as approval. However, the loan amounts may vary depending on income levels, and repayment terms are relatively flexible.

>> MORE: What’s the average personal loan interest rate in Singapore?

Risks:

• Higher Interest Rates: Interest rates can go up to 4% per month.

• Shorter Repayment Terms: These loans may have stricter deadlines, increasing monthly financial burdens.

• Potential for Debt Cycles: Missing payments can lead to penalties and accumulated debts.

• Risk of Scams: Borrowing from unlicensed moneylenders can result in unfair practices or harassment.

>> MORE: What are the best loans for bad credit? 

High-interest instalment loans

High-interest instalment loans allow borrowers to secure a lump sum amount, which is repaid through fixed monthly instalments over a specific period, usually ranging from a few months to a few years. 

These loans are particularly useful for larger expenses, such as consolidating existing debts, funding home improvements, or addressing medical emergencies. 

With this type of loans, borrowers can benefit from the predictability of fixed monthly payments, making it easier to manage finances. Unlike bank loans, these loans are more accessible to individuals with poor credit profiles, as they do not require extensive credit checks.

Risks: 

• Excessive Total Cost: High-interest rates can make the total repayment amount significantly larger than the principal borrowed.

• Strain on Monthly Budgets: Fixed instalment amounts can create financial stress for borrowers with limited disposable income.

• Penalties for Missed Payments: Late payments often result in hefty fines, adding to the overall cost of borrowing.

>> MORE: Check your credit score to prevent fraud 

Cash advance apps

Personal loan apps in Singapore have revolutionised the way people borrow money, offering quick and convenient solutions directly through smartphones. These apps streamline the borrowing process with faster approvals, flexible terms, and 24/7 accessibility. 

These apps have been changing consumer preferences, and government support for fintech innovation makes them a preferred alternative to traditional lending methods.

Online loan apps also provide unique benefits like lower costs, quick disbursement, and paperless processes. With their ease of access and competitive rates, these apps are a game-changer for those needing fast and reliable financial solutions. However, users should always ensure responsible borrowing and evaluate the app's repayment flexibility and customer support to ensure a smooth experience.

Risks:

• Data Theft and Phishing: Online loan applications involve sharing sensitive personal and financial information. Malicious websites and phishing emails disguised as legitimate entities can steal this data, leading to identity theft and financial fraud.

• Unlicensed Moneylenders: Ads from illegal moneylenders on social platforms or through unsolicited messages pose risks. Such lenders often operate outside legal frameworks and may impose excessive fees or interest rates.

• Misleading Advertising: The advertised interest rate might differ from the EIR, leading to confusion about actual repayment costs. Not understanding loan terms can result in unexpected financial burdens.

• Consumerism and Overborrowing: Impulsive borrowing driven by consumerism can lead to unnecessary loans or overspending, causing debt accumulation.

Buy Now, Pay Later (BNPL) schemes have become a popular financing option in Singapore, particularly for online shopping and retail purchases. 

These plans allow consumers to split their purchases into multiple interest-free instalments over a set period, making them ideal for managing the cost of larger items or essential goods.

BNPL platforms have partnered with various retailers, both online and offline, to make this payment option widely accessible. Consumers benefit from the flexibility of spreading payments without the need for a credit check. However, these plans require timely repayments to avoid additional fees.

Risks:

• Risk of Overspending: The ability to defer payments can encourage impulse buying and unnecessary purchases, as noted by 27% of users who admitted to financial mistakes using BNPL.

• Debt Accumulation: Without proper monitoring and budgeting, users may struggle to manage multiple BNPL payments alongside other expenses.

Payday loans

Payday loans are short-term borrowing options aimed at providing quick access to cash, usually with repayment scheduled for the borrower’s next paycheck.

These loans are often utilised for pressing financial situations, such as settling utility bills, covering car repairs, or bridging temporary cash flow gaps.

Known for their convenience, payday loans require minimal paperwork and offer speedy approvals. They are particularly helpful for individuals who may not meet the criteria for traditional loans, making them a go-to solution during emergencies.

Risks:

• High interest rates: Payday loans' interest rates can be exorbitant, leading to significant repayment amounts.

• Short repayment windows: Borrowers are often required to repay the full amount, including interest, within a few weeks.

• Debt cycles: Borrowers who cannot repay on time may resort to taking additional payday loans, creating a vicious cycle of debt.

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Securing a loan without a credit check can be a convenient option for individuals with limited or poor credit history. 

In Singapore, lenders offering no-credit-check loans focus on alternative criteria, such as your income or repayment capability, rather than your credit score. Below are some of the important aspects you need to consider to get a no-credit-loan in Singapore.

1. Identify licensed moneylenders: Start by researching licensed moneylenders registered with the Ministry of Law in Singapore. This ensures you are working with legitimate lenders who adhere to regulatory requirements, including transparent terms and conditions. Avoid unlicensed lenders to protect yourself from scams and exploitative practices.

2. Assess your financial needs: Before applying, calculate the exact amount of money you need to borrow and ensure it aligns with your capability to repay. Then, choose the type of loans based on your needs, such as payday loans, personal loans, or debt consolidation loans. It's important to only borrow what you can afford to repay in order to reduce financial stress and help you avoid falling into a debt cycle.

3. Gather required documents: Licensed moneylenders typically require: A valid Singapore NRIC (for citizens and permanent residents) or a passport and a valid work pass (for foreigners), proof of income, such as recent payslips or CPF contribution statements and residency proof. Some moneylenders may ask for other documents. Ensure you have all of the required documents ready to expedite the application process.

4. Compare loan options: Different lenders may offer varying terms, interest rates, and repayment periods. Use comparison platforms or consult lenders directly to find the loan that best suits your needs. You can also consider options with flexible repayment terms and reasonable interest rates to minimise your financial burden.

5. Submit an accurate application: When filling out the application form, provide complete and accurate information. Lenders assess your application based on the details you provide, such as your income, employment status, and residency. Inaccurate or incomplete information could lead to delays or rejection.

6. Understand the loan agreement: Before accepting your payday loan, take the time to thoroughly examine the terms and conditions. Ensure you have a clear understanding of the repayment requirements to avoid unexpected issues down the line. Some of the agreements you need to understand include: Interest rates and any additional fees, repayment schedule and flexibility, and penalties for late or missed payments.

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When exploring no-credit-check loans in Singapore, it’s important to be aware of various factors that can help you make informed decisions. These loans can provide quick access to cash but often come with risks and higher costs. Here’s what you need to consider:

• Choose licensed moneylenders: Always make sure that the lender is licensed by the Ministry of Law in Singapore. Licensed moneylenders follow strict regulations, including capped interest rates and fees, which protect borrowers.

• Understand the interest rates and fees: Licensed moneylenders in Singapore are allowed to charge an interest rate of up to 4% per month, regardless of your income. Additionally, they may impose fees such as processing fees (capped at 10% of the loan principal) and penalties for late payments. 

• Assess the repayment terms: No-credit-check loans usually have shorter repayment periods, often ranging from one month to a year. Ensure that the repayment terms align with your financial situation and income.

• Evaluate the loan amount: Licensed moneylenders set borrowing limits based on your income. For instance, if you earn less than S$20,000 annually, you can typically borrow up to S$3,000. Borrow only the amount you genuinely need to prevent taking on excessive debt.

• Understand the risks: While no-credit-check loans can be accessible, they often come with higher interest rates and shorter repayment periods, making them risky for borrowers. 

• Beware of predatory practices: Be cautious of lenders who pressure you to make quick decisions or fail to provide transparent loan terms. Such behaviours are often red flags for predatory lender practices. 

>> MORE: How to spot a personal loan scam?

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If you’re looking for alternatives to no-credit-check loans in Singapore, there are several viable options that may better suit your financial needs. These alternatives often come with more manageable terms and lower risks, especially for individuals with a steady income or the ability to demonstrate financial stability.

>> READ OUR GUIDE: Find alternatives to payday loans

Personal loans from banks

Personal loans from banks are a common alternative for those who need financing. These loans typically require a credit check, but they offer competitive interest rates and flexible repayment terms for eligible borrowers. Loan amounts can range from a few thousand to several tens of thousands of dollars, depending on the applicant’s income and creditworthiness.

>> COMPARE: Best bad credit loans

Credit Cooperative Loans

Credit cooperatives in Singapore offer an alternative to banks. These member-owned cooperatives may have flexible criteria and prioritise community focus. Membership grants access to loans tailored to individual needs.

Credit lines from financial institutions

Credit lines are revolving credit facilities offered by banks and other financial institutions. Unlike personal loans, which provide a lump sum, a credit line allows borrowers to access funds as needed, up to a pre-approved limit. Interest is charged only on the amount used, making this a flexible option for managing cash flow.

>> MORE: Best Credit Line in Singapore 2025

Co-signed or Joint Loans

In Singapore, co-signed or joint loans can aid those with low credit. A co-signer guarantees repayment, while co-borrowers share responsibility and funds. Both options use the co-applicant's credit, but all parties are legally bound.

>> MORE: Can You Get A Personal Loan Without Income Proof In Singapore?

Peer-to-peer (P2P) lending platforms

P2P lending platforms connect borrowers directly with individual investors. These platforms often consider non-traditional metrics to evaluate borrowers, making them accessible to individuals who may have been declined by traditional banks. Loan terms and interest rates vary depending on the platform and the borrower’s profile.

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