How to get an urgent loan with no credit check in Singapore?

Taking an urgent loan with no credit check

As with each milestone in life, we might encounter situations where we would need urgent cash to pay off hefty bills; be it for a dream wedding, a home renovation or even for medical emergencies. It is during times like these when an urgent loan would come in handy to assist you financially.

If you aren’t new to taking loans and are feeling anxious you might not be eligible for another loan, don’t fret. That’s still possible. You might also be wondering, what if you have a bad credit score, would you still be able to take a loan? The simple answer is yes.

Read on to find out how to secure an urgent loan with no credit check in Singapore.

Can you get an urgent loan approved with a bad credit score?

Typically, for every loan you apply for, there will be an assessment of your credit risk that will determine your likelihood of defaulting on the loan. This indication is called a credit score. Having a bad credit score would mean that there is a high probability of the loan going into default.

When you take a loan from the banks, banks will usually have to check credit scores with Credit Bureau Singapore (CBS). The report will reflect your outstanding loan(s) with banks and other financial institutions, but not including licensed money lenders. So if you have a bad credit score, there is a chance that your loan application might not be approved. Also, banks have more stringent checks so it can take up to 2 weeks for your loan to be approved, which might not be so ideal for you if you need cash urgently.

So if you’re looking to get an urgent loan with no credit check, taking a personal loan from licensed money lenders might be a suitable alternative for you. They tend to be more lenient in their loan approval process and approval is much faster.

When you apply for a loan with them, licensed money lenders will submit your information to the Money Lenders Credit Bureau (MLCB) to get your MLCB report, so as to check your borrowing limit, outstanding loan with other money lenders, payable amount and repayment record, but most of them will not check your credit score with CBS.

Type of urgent loans that don’t need a credit check

  • Payday loan: A payday loan is a short-term unsecured loan that can get you your emergency fund fast. With payday loans, you would need to pay off the principal loan by your payday, or more specifically, one month after your loan amount has been disbursed to you.
  • Personal loan: A personal loan from licensed money lenders can equip you with a lump sum of cash that can be repaid in fixed monthly installments, be it weekly, bi-weekly, monthly, etc, depending on your loan contract. As long as you are able to show proof of income or your financial capacity to pay, you will be able to secure it quickly.
  • Debt consolidation loan: A debt consolidation loan is a low-interest plan suitable for borrowers who have taken multiple loans. It is designed to accumulate all your various loans by multiple lenders into a single consolidated loan, so you only need to provide a monthly repayment under one payment channel. This will enable your loan repayment to be less stressful as you will only have one loan deadline every month under a single loan, and this will help you better work towards a debt-free future.

What are the advantages of urgent loans from licensed money lenders?

If you’re looking to get an urgent loan with no credit check in Singapore, the best solution would be to take a loan from licensed money lenders. Here are some benefits of doing so:

  1. Easy to apply – It takes less than a minute to apply for a loan online
  2. Fast approval – After you have submitted your loan application, if you meet all the loan criteria, your loan will usually get approved in less than a day. You will get a call back from the loan executive.
  3. Loan approval with bad credit score – If you meet all other eligibility criteria, your loan can be approved even if you don’t have a good credit history.

Requirements for loan application and approval

If you’re an employed or self-employed Singaporean or a Permanent Resident earning less than $20,000 annually, you will be able to borrow up to $3,000. If you’re earning at least $20,000 annually, you will be able to borrow up to 6 times your monthly income.

What you need:

  • IC
  • CPF Contribution Statement (you can also retrieve it via Singpass)
  • Payslips over the last 3 months
  • IRAS Notice of Assessment for those who are self-employed
  • Proof of Income with bank statements, income statements, etc, for those who are self-employed

If you’re a foreigner residing in Singapore earning less than $10,000 annually, you can borrow up to $500. If you’re earning between $10,000-$20,000 annually, $3,000 is your loan limit. And if your annual income is more than $20,000, you can borrow 6 times your monthly income.

What you need:

  • Employment pass
  • Proof of home address (tenancy agreement, proof of billing address)
  • Payslips over the last 3 months

How can you apply for an urgent cash loan?

You can apply for an urgent cash loan with us in just three simple steps:

  1. Submit your loan application form online (available on our website). This will take you less than a minute.
  2. Once your loan is confirmed, our loan consultant will call you to go down to our office for a face-to-face verification and to sign the loan contract.
  3. In less than half a day, you can get the cash immediately or have it transferred to your bank account.

Need an urgent loan but worried about your bad credit history? We understand your needs and we can get your loan approved quickly. Apply for your instant loan now.


While all reasonable efforts are made to include accurate and up-to-date information on this website, errors or omissions may still occur. We are not liable for any loss or damage caused by the use of this website. The information on this website is for general information only and should not be taken as professional advice.

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