Raffles Credit Pte Ltd is a licensed moneylender (License No. 58/2022) listed in the Registry of Moneylenders, under the Ministry of Law in Singapore.
If you are short on cash and need to pay the bills by the end of the month, there’s always a simple and fast solution. Raffles Credit’s payday loan — lets you borrow your one month’s worth of salary so you can pay your bills on time. Ease your short-term financial worry and conveniently pay on your next payday.
Apply from the comfort of your home at https://www.rafflescredit.com.sg/. You may also reach us at 6235 1788.
Upon confirmation, you will be asked to come to our office to customize your loan plan
Get your cash as soon as the loan agreement has been signed
You must be at least 18 years old
For Singaporean/PR residents: You must have regular employment or a source of income above $1,500 per month.
For Foreigners/Expats working in Singapore: You must have regular employment or a source of income above $2,000 per month.
Jane and John are very helpful, they listen and understand what customer needs and their tailor made financial repayment scheme.... read moreJane and John are very helpful, they listen and understand what customer needs and their tailor made financial repayment scheme. A great experience. Worth to visit if you need some assistance. read less
feeling happy and comfortable at here! All people here are nicely,thanks Rachel, John,Jane.Fast processing, very appreciate to them! Will recommend... read morefeeling happy and comfortable at here! All people here are nicely,thanks Rachel, John,Jane.Fast processing, very appreciate to them! Will recommend here for you guys. read less
Friendly staffs who assisted exceptionally well to all my loans need with good rates and repayment plan. Been utilizing their... read moreFriendly staffs who assisted exceptionally well to all my loans need with good rates and repayment plan. Been utilizing their service quite a number of times and am very pleased with their service. Will recommend. Thanks Raffles Credit! read less
Approachable and professional staff here. Thank you John, Rachel, Jane for understanding my situation and offering me the best suit... read moreApproachable and professional staff here. Thank you John, Rachel, Jane for understanding my situation and offering me the best suit financial solution. Never hesitate to visit them again when I need assistance in future! read less
Jane has processed application very professionally. I am very happy with her approach and service.
In fact this is NOT my... read moreJane has processed application very professionally. I am very happy with her approach and service.
In fact this is NOT my first application with Raffles. It is because of their professionalism and good attitude and service that I am at ease to go back to Raffles for my loans.
I would definitely recommend anyone to Raffles. read less
Rachel and John have been very professional and courteous in their dealings. They were very patient and listened attentively to... read moreRachel and John have been very professional and courteous in their dealings. They were very patient and listened attentively to my requirements before tailoring a suitable plan. highly recommended. read less
I had good experience, it was my first time. John & Jane guided me & making sure I understand every... read moreI had good experience, it was my first time. John & Jane guided me & making sure I understand every term before signing anything. Answered my questions patiently and clearly. Able to explain to me all the financial jargon words i do not know of. Quick fun guide to enjoy the nearby area as well! Kudos to both of them. They really helped me, literally 😀 read less
Had to borrow some funds last minute and both Jane and John has been really helpful with the whole process.... read moreHad to borrow some funds last minute and both Jane and John has been really helpful with the whole process. It’s my first time and lost on the process and they slowly guide me along and explain everything in detailed to me. Had some difficulties midway, and they listened to them carefully and addressed them! read less
Very efficient. The advisor is clear in her explanation and also very courteous. Proper checks are done and payment structures,... read moreVery efficient. The advisor is clear in her explanation and also very courteous. Proper checks are done and payment structures, advice is given properly to ensure borrower is clear on everything. Trustable moneylender. read less
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A payday loan is a short term loan that gives you enough cash to cover your most immediate financial needs before your next paycheck arrives. The borrower usually takes on a loan with a licensed money lender with the aim to repay the loan and the interest within the next few weeks when their next paycheck arrives.
A payday loan is one of the many ways for an individual to find financial help. Like any tool, if used carefully and responsibly, you will find it extremely helpful to your situation or if used without care or thought, will hurt you in the long run.
Similarly, once your loan application has been approved with us, you will receive your funds and you would then be able to pay off your bills without much worry.
There are several differences between a payday loan and a personal loan, mainly due to the amount loaned and the tenure.
A payday loan is a short term loan that you would repay back to the lender once you have received your next paycheck. A payday loan is a smaller sum as it is meant to be used for immediate and urgent financial relief, like catching up on your bills and smaller emergencies.
On the other hand, personal loans can be a larger loan amount and have a longer loan repayment term due to the larger amount that you have taken out. It is mainly used for larger expenses that a single monthly paycheck cannot sufficiently cover or repaid in full.
Generally, the best payday loan is an unsecured one, without any collateral involved. An unsecured loan works best with money lenders as the sums involved are smaller and are quicker to approve. One of our best selling points as a money lender is the fact that we do not judge anyone with poor credit.
This means that anyone with bad credit can take out a quick payday loan with us and receive the money they need within the hour without going through a lengthy loan application process. However, make sure you only use payday loans in case of emergencies. We do not want to see our borrowers fall into a deep cycle of debt.
There are many reasons that a payday loan can be helpful to anyone. Here are a few reasons listed below.
When you take out a payday loan with money lenders like Raffles Credit, you can pay for your utility bills or any other smaller emergencies in advance, avoid missing your cut-off period, and prevent having to spend any more on penalties and added late repayment interest rates.
Don’t forget to bring your employment and income details when you do make the trip over. In doing so, we can provide your loan application result and release your financing in no time.
Yes, it is. Moneylender in Singapore is highly regulated by the Ministry of Law and all loan products offered by any lender must be approved before they can be given to the public.
As such, payday loans are fully licensed under the Ministry of Law and are available to all Singapore citizens and foreign workers working in Singapore by all licensed moneylenders. As a licensed lender, our activities are governed under the law in Singapore.
However, do not borrow from Ah Longs or loan sharks as these groups are not licensed moneylenders and will charge exorbitant interest rates that will quickly trap you in an endless cycle of debt. Raffles Credit strongly advises you to seek only licensed moneylenders or banks if you are in need of loans.
There are several factors that determine how much you can borrow from us. If you are taking out a secured loan with us, you would be able to borrow any amount with us. However, if you are taking out an unsecured loan with us, there are several factors that determine the amount.
If you are a Singapore citizen or PR with an annual income of less than $20,000, you would only be able to borrow up to $3,000 with us. If your annual income exceeds $20,000, you would be able to take out a loan up to six times of your monthly income with us.
If you are a foreigner or expat working in Singapore with an annual income of less than $10,000, you would only be able to loan up to $500 with us. If you have an annual income of less than $20,000, you would be able to loan up to $3,000 with us. Foreigners or expats with an annual income of $20,000 and above would be able to take out a loan up to six times of your monthly income with us.
Yes. With a licensed moneylender, you can only borrow a certain amount they set depending on your current salary and employment contract. While banks can provide your ideal amount of cash, the amount also comes with more stringent requirements and terms, and an excellent credit score.
The application process is swift and efficient. Please expect to receive your borrowed cash within an hour only, or upon the signing of the contract when you’re contacted to come in for the signing of the contract.
Raffles Credit is a licensed lender in Singapore. We have been praised for being a financial agency that treats our clients with the utmost professionalism and exceptional customer service experience.
What differentiates us from other moneylenders is our fair and trustworthy loan plans and interest rate. We never force our customers to borrow more than what they can afford and help them become a responsible borrower. Ethical lending is at the top of our core values and we adhere with law in Singapore.
We take pride in our accomplishments and will continue to serve every foreigner, resident, and citizen of Singapore in good faith.
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