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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!

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singapore debt consolidation loan

The Answer To All Your Debt Woes — A Debt Consolidation Loan

Managing one’s finances is never an easy feat, especially with the many costs to settle on a daily basis, or sudden emergencies to boot. As such, one may resort to loans for the much-needed funds. But paying off one debt can already be a challenge, not to mention keeping up with multiple repayments at one go.

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 and lower interest rates. Safe to say, you’re in good hands with a debt consolidation loan from money lenders.

What’s a Personal Loan for Debt Consolidation?

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.

Why a debt consolidation from money lenders is your best bet

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 know how to 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?

Make repayment easy as you combine several loans with our debt consolidation loan in Singapore.

Apply now

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 rates from a debt consolidation money lender are usually lower than unsecured credit facilities like credit cards. This makes your monthly instalments for a debt consolidation loan in Singapore lower than the sum of your individual loans.

3. Less Hassle and Stress

Because 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 Score

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 score.

6. You Prevent Debt From Snowballing

With a debt consolidation loan money lender’s help, you’re – ideally – stopping multiple loans, their interest rates, and late repayment fees from ballooning into an uncontrollable amount.

FAQs About Debt Consolidation Loans in Singapore

You’re eligible for a debt consolidation loan from a licensed money lender if you are:

  1. A Singapore Citizen/Permanent Resident/Foreigner with a valid work pass
  2. 18-70 years old
  3. Steady monthly income
  4. Employed, self-employed, commissioned-based employee, freelancer, gig worker, or any individual able to show

A licensed money lender for debt consolidation requires these documents:

  1. Your NRIC or passport
  2. Income proof (Latest three payslips, Income Tax Assessment Notice, latest three CPF statements, etc.)
  3. Latest credit report
  4. Latest credit card and unsecured loan statements
  5. A confirmation letter containing evidence of unbilled principal balances for your unsecured loans

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.

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.

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.

Your debt consolidation loan in Singapore can be approved within minutes. However, this is provided you apply early in the day, fill in the consolidation loan in Singapore’s application form accurately, and submit your supporting documents for it.

Applying for a solution from a debt consolidation loan money lender is fast and simple. Here’s how it works:

  1. Submit your debt consolidation loan application together with all your supporting documents.
  2. Receive an update on your debt consolidation loan status within 20-30 minutes.
  3. Come down to our office, sign the loan contract, and receive your cash in-person or through PayNow.

Ready to combine your loans and enjoy easier repayments? Take up our debt consolidation loan in Singapore!

Apply now

License Number: 131/2024 | UEN : 200923881E

Hougang

Toa Payoh

Copyright @ 2024 Goldstar Credit Pte Ltd
Copyright © 2024 Goldstar Credit Pte Ltd

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We charge competitive interest rates and fees, which is why so many of our customers keep returning to us.

As a Goldstar customer, you get to enjoy:
Loan interest rates of 1-4% a month*
A maximum of 5-10% in processing fees*