Personal Loan in Singapore —
The bank said no. That answer came from an automated system that scores thousands of applications a day. It does not read why your CBS record looks the way it does. It does not know what you earn today, or whether you can comfortably repay. Swift Credit is a licensed moneylender regulated by the Ministry of Law. We have been lending to Singapore residents since 2009. We assess your current income and your MLCB record. A low CBS score caused by bank debt alone does not close the door here.
Your CBS credit score is maintained by Credit Bureau Singapore and tracks your borrowing from banks and MAS-regulated financial institutions. Licensed moneylender loans are tracked separately by the Moneylenders Credit Bureau (MLCB), and the two systems do not share data.
A personal loan from Swift Credit does not appear on your CBS report. It will not affect your HDB flat application. It will not affect your bank credit assessments. It exists entirely in the MLCB system, which is only visible to licensed moneylenders when you apply for a loan.
What we check is your MLCB record. This tells us your current outstanding balance across all licensed moneylenders in Singapore. If you are within your MinLaw borrowing limit and your income supports repayment, a low CBS score alone does not disqualify you.
This distinction is the single most important thing most borrowers do not know before they apply anywhere.
An unsecured personal loan from a licensed moneylender in Singapore can cover almost any legitimate expense.
Medical bills not covered by insurance or Medisave
Home renovation costs that exceed your bank renovation loan limit
Wedding deposits and related expenses
Emergency vehicle or home repairs
Education fees and professional development courses
Debt consolidation to replace multiple loans with one fixed monthly payment
Rental deposits when moving home
Business cash flow gaps for sole proprietors and freelancers
If both partners want to apply, each applies individually against their own income. A couple where both earn SGD 4,000 per month can each borrow up to SGD 24,000 — giving them a combined limit of SGD 48,000 if needed.
Every licensed moneylender in Singapore must follow these exact caps. These are legal maximums set by the Ministry of Law. No licensed lender can charge more.
Interest is calculated on your remaining balance after each repayment, not the original loan amount. If you miss a payment, both the SGD 60 late fee and the late interest charge apply in the same month. The total of all interest and fees across your entire loan including any late charges will never exceed the amount you originally borrowed. If you borrow SGD 5,000, the maximum you will ever pay back in total is SGD 10,000.
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Foreigners do not need a local guarantor to apply at Swift Credit. Your loan is assessed on your own income and employment stability.
Applying via Singpass MyInfo is the fastest route for both citizens and foreigners with Singpass access. Your identity, income, and employment data are pulled directly from government records through the official Singpass. Swift Credit will never ask for your Singpass password directly.
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Takes 2 minutes. No paperwork required at this stage. Your data will be automatically extracted from the Government database. Fill in the remaining information required and submit it to us.
Our team reviews your application and contacts you. We confirm what you qualify for before you visit. If you do not qualify, we tell you at this stage. You do not travel to us for an uncertain outcome.
MinLaw requires all loan agreements to be signed in person at our registered office. This protects you. We walk through the full contract before you sign. You know the interest rate, the monthly repayment, and the total cost before your pen touches the paper. You can walk away at any point at no cost. Funds are disbursed to you the same day after signing.
Start your application now using Singpass MyInfo, or contact us directly for assistance.
Applications submitted during office hours are typically assessed the same day.
No. Licensed moneylender loans are recorded in the MLCB system, which is entirely separate from your CBS credit report. Your CBS score is what banks and HDB check. Borrowing from Swift Credit does not appear there and does not change it.
On a SGD 5,000 loan at 4% per month over 6 months, your monthly repayment is SGD 954. Total repaid is SGD 5,724. Total interest paid is SGD 724. On top of this, a one-time admin fee of up to 10% is deducted at disbursement. The total charges across the loan cannot exceed the original principal borrowed. That cap is your legal protection.
Yes. Your CBS grade reflects your bank borrowing history, not your MLCB record. We assess your current income and your outstanding balance with licensed moneylenders. A low CBS grade from bank debt alone does not disqualify you.
Yes. Bring your IRAS Notice of Assessment or 3 months of bank statements. We assess your average monthly income across the period rather than requiring a fixed pay slip.
Yes. If you have multiple outstanding licensed moneylender loans and want to replace them with a single monthly payment, apply as normal. We check your MLCB record to confirm your consolidated total stays within your MinLaw limit.
Yes. No penalties. Only applies when it is a full settlement.
Check the MinLaw Registry of Moneylenders at rom.mlaw.gov.sg. Swift Credit Pte Ltd is listed there. The registry is updated monthly. If a lender is not on that list, do not borrow from them.
Yes. Bring your IRAS Notice of Assessment or 3 months of bank statements showing your income pattern. We assess your average monthly income across the period rather than requiring a fixed payslip. Self-employed borrowers apply on the same basis as salaried employees — current income and MLCB record.
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