Simplify Your Repayments With A Debt Consolidation Loan in Singapore
Having trouble keeping up with several loans every month? A debt consolidation from money lenders can help. What a debt consolidation loan in Singapore basically does is merges all these loans into one monthly repayment, with a lower interest rate to boot!
The Answer To All Your Debt Woes — A Debt Consolidation Loan
Managing one’s finances is never an easy feat with the many costs to settle on a daily basis, or sudden emergencies that crop up. As such, one may resort to getting loans for the much-needed funds. While loans are certainly helpful, keeping up with multiple repayments at one go is gruelling.
This is where a legal money lender like Goldstar Credit can help. Our debt consolidation loans in Singapore combine all your loans into one and come with longer loan tenures plus lower interest rates. Safe to say, you’re in good hands with a debt consolidation loan from money lenders.
What Exactly Is a Debt Consolidation Loan?
A personal loan for debt consolidation, totals up all your unsecured debt, except for certain loan types. This sum is then distributed across a new loan tenure with an equal monthly repayment amount.
Your debt consolidation loan in Singapore will have a new interest rate as well, which is generally lower than each individual loan you previously had.
How Can Our Debt Consolidation Loans in Singapore Help You?
Tracking payments from multiple money lenders can be taxing, and we know this from firsthand experience with many of our clients. So, why not make life easier by taking control of your debts with a debt consolidation?
A debt consolidation in Singapore is the way to go for simpler payments, better interest rates, and lower monthly repayments.
Rest assured that we offer assistance in the best way possible — our team is made up of fully certified loan officers and debt collection executives, each of them with 10 years of experience in their specialties.
Ready to take up a debt consolidation loan already?
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How Our Consolidation Loan in Singapore Helps Your Finances
1. Faster loan repayments
It’s easy to miss deadlines and end up extending your tenures when you have multiple loans to repay. A debt consolidation loan money lender’s solution has one due date to take note of every month, ensuring punctual repayments and no accidental extensions.
2. More affordable repayments
Interest on a loan from a debt consolidation money lender is usually lower than the interest on individual loans that you have trouble keeping up with, especially if these are loans that have compounded late interest penalties over some time. This is welcome news — your monthly instalment for a debt consolidation loan in Singapore can be lower than the sum of your individual loans’ monthly instalments.
3. Less hassle and stress
A debt consolidation money lender’s solution only requires you to make one repayment every month, there’s no need to worry about multiple instalments for different financial institutions.
4. Easier monthly budgeting
It’s simpler to factor a single amount from a licensed money lender’s debt consolidation loan into your budget and adjust it accordingly, as compared to several separate instalments.
5. An improved credit profile
A debt consolidation money lender is meant to help you punctually repay loans you’re finding tough to keep up with. By achieving this, you’re proving you’re a reliable borrower, thereby boosting your credit profile over time.
Make repayment easy as you combine several loans with our debt consolidation loan in Singapore.
FAQs About Payday Loans in Singapore
How do I know if I’m eligible for a debt consolidation loan in Singapore?
You’re eligible for a debt consolidation loan from a licensed money lender if you are:
- A Singapore Citizen/Permanent Resident/Foreigner with a valid work pass
- 18-70 years old
- Steady monthly income
- Employed, self-employed, a commissioned-based employee, freelancer, gig worker, or any individual able to show proof of consistent income
What documents do I need to submit for a debt consolidation loan in Singapore?
A licensed money lender for debt consolidation requires these documents:
- Your NRIC or passport
- Income proof (Latest three payslips, Income Tax Assessment Notice, latest three CPF statements, etc.)
- Latest credit report
- Latest credit card and unsecured loan statements
- A confirmation letter containing evidence of unbilled principal balances for your unsecured loans
What should I do after getting my personal loan for debt consolidation?
Once you obtain your debt consolidation loan from a licensed money lender, ensure you’re paying it off punctually every month. Set a reminder for the licensed money lender’s debt consolidation loan deadline and try to repay it a few days earlier.
What’s the loan tenure of a consolidation loan in Singapore?
Tenures for a debt consolidation loan from a licensed money lender are usually up to 12 months long, but inform us during your consultation should you require a lengthier tenure.
What’s the interest rate for Goldstar Credit’s debt consolidation loan in Singapore?
The monthly interest rate for our consolidation loan in Singapore is capped at a maximum of 4%. No licensed money lender’s debt consolidation loan should exceed this.
How long will it take to approve my debt consolidation loan?
Your debt consolidation loan in Singapore can be approved within minutes. However, this is provided you apply early in the day, fill in the application form accurately, and submit your supporting documents for your consolidation loan in Singapore.
How do I apply for a debt consolidation loan in Singapore?
Applying for a solution from a debt consolidation loan money lender is fast and simple. Here’s how it works:
01
Submit your debt consolidation loan application together with all your supporting documents.
02
Receive an update on your debt consolidation loan status within 20-30 minutes.
03
Come down to our office, sign the loan contract, and receive your cash in-person or through PayNow.
