Frequently Asked Questions (FAQs)

Here are some of our Frequently Asked Questions that we get from most of our customers. Spend some time browsing through and we hope you may find your answers!

Where can i apply my loan at?

You are able to apply your loan via our online loan application form that is easy to complete, or subsequently you may drop by our office at:

Credit Excel Pte. Ltd.

192 Waterloo Street
#05-04, Skyline Building
Singapore 187966
Phone: 6337 0055

How are the interest rates like?

The interest rates that we are offering at the moment would be 4% monthly.

Here are some of the fees that we are not suppose to imposed on our customers:

  • A late Repayment Fee that does not exceed an amount of  S$60.00
  • A fee that does not go above 10% of the principal loaned amount upon approval
  • Any legal cost ordered by the court that is being used to successfully reclaim any loans

Compulsory Requirements needed for any loans

In order to take out any loans from us, you have to fulfill these requirements stated below

  1. A Singapore Citizen or Permanent Resident of Singapore
  2. At least the age of 21 and above
  3. Must not be declared undischarged bankrupt nor any bankruptcy that is ongoing
  4. Permanently employed contributing monthly CPF
  5. Foreigners and Expats must have a Valid Work Permit or Valid Passport
  6. Self-Employed to have their Income Tax Assessment, ACRA, or Vocational License

What is the Maximum Amount of Loan that i can take out?

Secured Loans:

  • No Restriction to any amounts

Unsecured Loans:

  • If your annual income is less than S$20,000 : Up to of S$3,000
  • If your annual income is S$20,000 or more but below S$30,000 : Up to 2X of your monthly income
  • If your annual income is S$30,000 or more but below S$120,000 : Up to 4X of your monthly income
  • If your annual income exceeds S$120,000 : Any amount that you need

How will i know if my Loan is being Approved?

Upon the relevant documents being furnished, any loan disbursement and approvals will be done at our office at 192 Waterloo Street, #05-04, Skyline Building. Approvals can be granted as fast as 30 minutes.

Upon Approval of my Loan Application can i still reject it?

YES, you should not be coerced or pressured to take out any loans if it is not what you are looking for in terms of any deplorable clauses or even personal reasons.

What should i do after my loan approval is successful?

  • Double check on the loaned amount to ensure that it is the correct amount
  • Make prompt repayments to avoid any late payment fees or interests imposed
  • Each time after a repayment is being made, ensure that you are being issued a dated and signed receipt if it is made in cash.
  • Check on your name, amount, date, on the correctness of every detail
  • Double check that you are being issued a statement of account for all loans at least every 6 months
  • Retain and file up all physical copy of proofs as documentation and evidence of payments.

Loan Repayment Methods

You are able to make your loan repayments/instalments through any ATM machines, or Ibanking online transfers to any of our local bank accounts. Likewise, you can also make your repayment ONLY in cash at our office if you are nearby.

Can i still take out a loan if i have a Poor Credit Score?

YES, Loans can still be taken out once we have gone through auditing your financial capabilities to ensure that responsible borrowing and lending is being conducted. A flexible repayment plan will be discussed mutually for the ease of both parties.

Is it possible to still take out another loan concurrently with other moneylenders or financial institutions?

YES, you are still able to take out another loan. Our loan consultants will run through and plan a repayment scheme to cater to your current financial capability.

Do i need a Guarantor to take out any loans?

NO, you do not need any Guarantor to take out any loans at all.