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GM Creditz Pte Ltd is a licensed moneylender (License No. 101/2021) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.

Personal Loan

Enjoy easy payment terms on your personal financing needs, whether for your health & wellness, much-awaited wedding, or that much-needed vacation. Use our personal loans in Singapore as you see fit!

  • Low-interest rates from 1 to 4% only
  • Unsecured loan – No collateral/pledging of assets needed
  • Borrow up to 6 times of your salary

 

Borrow With Ease! Apply Now!

GM Creditz offers the financial lifeline you need when you’re in a bind. With our personal loans, you can get the funds you need in a fast, convenient, and cost-effective way. 

GM Creditz’s personal loan is an unsecured loan in Singapore with low interest rates making repayments more manageable. Borrow up to six times your salary, perfect for funding any personal endeavors that you would like to pursue!

Application Process

Apply For a Loan in 3 Easy Steps

01

02

03

01

Call or Apply Online

Call or Apply Online

Skip the lines and apply online using our dedicated online facility. You may also talk to our loan officer at 6588 1886.

Attend In-Person Consultation

Attend In-Person Consultation

Our loan officer will schedule an appointment for you further to discuss the terms and conditions of your loan plan.

Get Your Money

Get Your Money

Receive your money in cash as soon as the agreement has been signed

02

Attend In-Person Consultation

Attend In-Person Consultation

Our loan officer will schedule an appointment for you further to discuss the terms and conditions of your loan plan.

03

Get Your Money

Get Your Money

Receive your money in cash as soon as the agreement has been signed

Eligibility

At Least 18+
Years Old

Minimum Salary Of SGD1,500 For Local & PR

Minimum Salary Of SGD2,000 For Foreigner

Documents Requirements

Happy family getting personal loan

Local and Permanent Residents

  • Identity card
  • Proof of residence (utility bill, a letter addressed to you, and or tenancy agreement)
  • Proof of employment (certificate of employment if your job is less than 3 months)
  • Recent 3 months payslip
  • SingPass (log into CPF, HDB, IRAS website)
Foreign Friends

Foreigners

  • Passport
  • Work Permit / S-Pass / Employment Pass
  • Proof of residence (utility bill or tenancy agreement)
  • Proof of employment (certificate of employment if your job is less than 3 months)
  • Recent 3 months payslip
  • Proof of income (bank or account statement)
  • SingPass (log into IRAS website)

TESTIMONIALS

What Our Clients Say About Our Services

Recent Reviews on

loan advisor

Recent Reviews on Google

Personal Loan FAQ

GM Creditz’s personal loan allows you to borrow up to six months’ worth of your salary and can be paid back by monthly payment. 

The monthly payment of the personal loans in Singapore depends on the terms and conditions of your loan contract, interest rate, monthly salary, processing fee, and repayment capabilities.

Rest assured that there are no hidden charges being imposed by GM Creditz. We take honesty and transparency seriously and discuss all the fees regarding the personal loans before you sign the contract. 

Some reasons to use GM Creditz’s personal loan are the following but not limited to:

  • Planning for wedding
  • Paying off credit cards or debt
  • Starting a business
  • Availing home improvement products and services
  • Funding travels
  • Overall health and wellness

Before taking a personal loan, the first thing is to visit the list of licensed moneylenders registered with Singapore’s Ministry of Law to avoid loan scams.

Secondly, compare the best loan options suitable to your needs and repayment capability before you borrow.

Lastly, check the customer satisfaction reviews on Loan Advisor and Google Reviews to weigh in which agency is more reliable and trustworthy to borrow money from in Singapore.

GM Creditz is licensed and registered with the Ministry of Law. Rest assured that we adhere to the law and offer fair and just interest rates since 2009.

We have established an excellent reputation over the years. In fact, we are noted by our clients as “professional, efficient, and client-oriented,” assuring you that you are borrowing from a legal, responsible, and ethical agency.

Visit the Ministry of Law’s full list of licensed moneylenders in Singapore to verify if the agency is registered or not. 

GM Creditz’ license number is 101/2021 listed as number 61 in this downloadable list

Since 2009, GM Creditz has been legally operating and providing honest services to our clients. We are also a responsible lender, taking into consideration our clients’ financial capacity. Furthermore, we have been commended and applauded by our valued clients on Google and Loan Advisor Reviews.

You must only do business with a licensed moneylender. That said, you must first verify whether they are registered on the Ministry of Law’s website.

Even if they are licensed, you must still be cautious. Watch out for these red flags:

  • Asks for your SingPass user ID and/or password
  • Fails to return your NRIC card or any other personal identification documents
  • Asks you to sign a blank or incomplete loan contract
  • Fails to provide a clear and thorough explanation of the terms and conditions of the loan.
  • Grants you a loan without evaluating your loan application.
  • Grants you a loan through phone, email, or SMS before receiving your loan application form and required documents
  • Withholds any part of your principal loan amount

It’s best to seek clarification on the loan offer and its terms before signing any contract. We are happy to explain the loan terms and conditions so you know exactly what you’re getting into. That said, do not rely solely on the information provided in an advertisement by a moneylender.

A few things to remember:

  • Licensed moneylenders are prohibited to advertise their services through unofficial channels like SMS, WhatsApp, or social media. 
  • They can only promote their loan services through business and consumer directories, their own websites, and place ads within and on the exterior of their office.
  • You must know your responsibility as a surety
  • Understand the terms and conditions of the loan. Ask the moneylender to explain it in a language you understand
  • Get a copy of the loan contract as soon as the loan is granted to the borrower
  • Remember, the moneylender must not retain your NRIC card or any other personal identification documents
  • Licensed moneylenders will not ask for information such as the password for your user accou

Generally speaking, for secured loans, you can obtain a loan of any amount. For unsecured loans like personal loans, please refer to the table below for the total maximum amount that you may borrow: 

Borrower’s annual incomeSingapore Citizens and Permanent ResidentsForeigners residing in Singapore
Less than $10,000$3,000$500
At least $10,000
and less than $20,000
$3,000
At least $20,0006 times monthly income6 times monthly income

All moneylenders are only permitted to impose the following charges and expenses:

  • Interest rates up to 4%
  • A fee not exceeding $60 for each month of late repayment of the loan amount;
  • 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.

To get the best personal loan rates in Singapore, you may check personal loan comparison sites online to weigh in your options. 

Please note that the interest rates depend on the loan plan you are applying for. Compared to unsecured loans, secured loans will have lower interest rates and can offer you a higher amount of money. 

Having collateral such as properties, real estate, bonds, collections and other items and objects of value can also help you lower your personal loans interest rates.

GM Creditz offers the lowest possible interest rates, in accordance with the Ministry of Law, ensuring you that we practice legal lending and help our clients also practice responsible borrowing by helping you manage the best loan plans suitable for your objectives, budget, and repayment capability. 

If you wish to see our clients’ testimonials, please visit our Reviews page. You may also apply online or call us for further details.

Applying for GM Creditz’s personal loan is easy and straightforward as long as you have your complete set of documents and information. The application will be processed in less than an hour.

After applying online or calling from the comfort of your home, our loan officer will schedule an in-person appointment to discuss the terms of your loan plan. You will receive the borrowed money on the same day as soon as the agreement has been signed.

The key differences between a personal loan and a payday loan are the loan amount you can borrow and the tenure payment plan.

A personal loan allows you to borrow up to six months’ worth of your salary and lets you pay monthly until the personal loan amount is paid off.

Just like how credit cards work, the monthly payment depends on the terms and conditions of your personal loan contract, interest rate, monthly salary, processing fees, and personal loans repayment capabilities.

On the other hand, a payday loan allows you to borrow up to one month’s worth of your salary or income and loans must be paid back in less than a month. 

Rest assured that there are no hidden charges and we offer low-interest rates on loans, this is being imposed by GM Creditz. We take honesty and transparency seriously and discuss all the fees before you sign the loan contract.

Yes, your borrowing limit may differ from one another. Banks in Singapore can allow you to borrow a bigger loan amount for a much longer tenure with a different interest rate, but the process of releasing the money takes time. GM Creditz, on the other hand, can give you the loan amount, usually, in just only an hour with a much easier loan application process, with a low interest rate and upfront processing fees and no hidden charges.

Yes, you can. Although you can apply for more than one loan, your application will still be subject to evaluation to ensure that you don’t overborrow a personal loan and suffer from financial difficulties. 

Take note that, unlike banks, GM Creditz does not solely rely on credit scores when approving your personal loans.

What we look for are the following but not limited to:

  • Ability to repay the personal loan
  • Certificate of employment
  • Proof of income
  • Other identification papers

Aside from GM Creditz’s fuss-free application process and excellent customer service, we also take pride in our comprehensive personal loan plan for your immediate financial needs. Among the key advantages are:

  • Low interest rates from 1 to 4% only 
  • Flexible payment terms
  • Unsecured loan – No collateral/pledging of assets needed
  • Borrow up to 6 times worth of monthly income with a low-interest rate

Yes. Depending on your circumstances, a personal loan may be the best option for financing your vehicle purchase. It’s advisable as you can receive the money within a few days and aren’t required to find the vehicle you plan on buying first. There is also no collateral needed.

However, since there’s no collateral for personal loan lenders to fall back on, they typically charge higher interest rates than auto loan lenders. There’s also less time to repay.

There are different types of personal loans: Personal Instalment Loan, Line of Credit, Funds Transfer or Balance Transfer and Debt Consolidation Plan. 

Personal Instalment Loan – This can be used by Singaporeans and permanent residents in the area. This involves borrowing a specific sum, paying a 1-time processing fee and agreeing to repay the amount in fixed monthly repayment. The loan interest and fees are calculated for the whole loan tenure and added to the total loan amount. 

Foreigners can also apply for it, but the conditions require an employment pass of 1-year validity, and 3 months’ payslips to generate your annual income.

Line of Credit – is an overdraft facility that only charges interest when you withdraw from the account. Once approved, the funds can be withdrawn via ATM, cheque, internet banking or by going to a physical bank branch. You are charged loan interest the moment you draw funds. No loan interest is charged, when you repay the funds.

It typically has an annual fee ranging from $60 to $120. While its interest rates are generally between 18% to 22% p.a, before any promotional offer. This is deemed useful as a standby cash fund for unexpected expenses. If you need funds for an emergency, you can withdraw cash instantly without any approval process but only when necessary. 

Fund Transfer – This loan uses the available credit on your card. You pay a 1-time processing fee and enjoy a very low interest or 0% rate for between 3 to 12 months. You either settle the total amount outstanding or you end up being charged interest rates between 18% to 29% right after, depending on the credit facility the funds were drawn down from.

Banks normally charge a 1-time processing fee of between 1% to 5% on your approved loan amount. The best balance transfer offers will waive this processing fee. Balance transfers are ideal should you need cash urgently, or have a big, short-term expense on the horizon and want to avoid high-interest rates on other types of loan facilities. 

Debt Consolidation Plan – This loan is a government-approved scheme available with all leading banks in Singapore. It brings together all your open unsecured credit under 1 easier repayment and debt management. 

There will be a 1-time processing fee. Depending on the bank and promotional rates, the Effective Interest Rate is typically between 6.7% to 12% p.a. This is commonly used by those who are having trouble keeping up with loan repayments and have a rough guide being 12x monthly salary.

Credit card – This allows you to make purchases and pay back what you owe little by little over time or all at once. If you repay your balance in full within a month, you’ll avoid interest charges.

Payday Loan – This is a short-term, high-cost loan that gives you money that you need until you receive your next paycheck. 

Personal line of credit –  Similarly to a credit card; you don’t follow a set payoff schedule for your debt, and you can tap your credit line on an as-needed basis. Personal lines of credit can come with lower interest rates than credit cards, however.

Peer-to-peer (P2P) – These loans are like personal loans, except they are funded by individual investors rather than a single lending institution.

Home equity loan – This is a second mortgage that gives you a lump-sum amount of money that is repaid on a set schedule. The amount you can borrow is determined by the amount of equity you have in your home, and terms range from five to 15 years.

Small business loan – A business loan can help keep your personal finances separate from your business expenses. These also tend to have lower interest rates than personal loans.

GM Creditz offers the best personal loan in the City Hall of Singapore. Our office is conveniently located near City Hall MRT and opposite Peninsula Plaza Bus Stop. 

Address: 111 North Bridge Road #01-41 Peninsula Plaza Singapore 179098

Operating Hours: Mon-Fri: 10:30am – 8:30pm | Sat-Sun: 10:30am – 5:00pm

GM Creditz’s personal loan is designed to ease your financial emergencies. We make sure to give you the assistance that you need immediately, with a low-interest rate in as short as an hour.

This is guaranteed as the application process of GM Creditz is easy and straightforward. After requesting online or calling from the comfort of your home, our loan officer will schedule an in-person appointment to discuss the terms of your loan plan. You will receive the borrowed money on the same day as soon as the agreement has been signed.

We are proud of our competitive personal loan plans that adhere to the Moneylenders Act. And we only impose the required and permitted fees and interest rates and make sure to customise the loan plan accordingly.

Moreover, our ultimate goal is to help you with your financial difficulties, not to add a burden to your financial trouble. Take it from our clients’ verified reviews on Loan Advisor, Google Reviews, and Business Listings, that can attest to our promises and core values — professional, efficient, and client-oriented. 

We look forward to serving you.

  • Make sure the lender delivers to you the correct principal amount of the loan or actual loan amount. The lender is only permitted an upfront processing fees deduction of a loan approval fee of up to 10% of the principal amount.
  • Pay the loan instalments on time to avoid incurring late payment fees, additional interest rate and late interest.
  • Make sure the lender issues you a receipt every time you make any repayment of the loan amount towards your personal loan, and check it for correctness (e.g. name, amount, date).
  • Make sure you receive a statement of account for all your personal loans at least once every January and July and check it for correctness (e.g. name, amount, date); and
  • You should retain all statements of accounts and receipts of payments as documentation and evidence of payments.
Friends laughing after applying for loan online

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