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Line Of Credit Loan

A Line of Credit (LOC) Loan from Fast Money is a flexible, revolving credit facility that allows you to draw funds up to an approved limit. You only pay interest on what you use, making it ideal for fluctuating cash needs, unlike fixed personal loans where the full amount is disbursed at once.

Types of LOC:

  • Unsecured LOC – No collateral required; interest is charged on the drawn amount.
  • Secured LOC – Backed by collateral; may offer lower interest rates.

Key Benefits & Ideal Use Cases

  • Only pay interest on used funds.
  • Access cash anytime within your limit.
  • Great for managing irregular expenses like home repairs or tuition.
  • Can be used repeatedly after repayment.

To be eligible, borrowers should be:

  • Aged 21–65.
  • Singapore citizen, PR, or foreigner with a valid work pass.
  • Earning at least S$1,800-S$2,000/month.
  • Having documents like NRIC/FIN, payslips, CPF or bank statements, and proof of collateral if needed.

Costs & Fees

  • Interest Rate: Variable, up to 4% per month, paid only on withdrawn amounts.
  • Admin Fee: Typically up to 10% of credit limit, charged upfront.
  • Renewal / Draw Fees: May apply, depending on usage.

Application & Process

  1. Apply online or in branch.
  2. Submit ID and income documents.
  3. Approval and disbursement in 24 hours.
  4. Sign the LOC agreement.
  5. Access funds.

LOC vs Personal Loan:

Feature Line of Credit Personal Loan
Disbursement Revolving as needed Lump sum at drawdown
Repayment Interest on used funds Interest on full amount
Flexibility High – reuse available Fixed terms and limits
Interest Structure Variable Fixed or variable
Ideal For Ongoing or sporadic expenses One-time purchases or consolidation

Fast Money’s Line of credit loan in Singapore gives you flexible access to funds, without the stress of fixed loan disbursements. Check your eligibility and estimate repayments using our calculator now.

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Why Us?

Thousands of clients like yourself choose Fast Money for their most urgent cash needs.

We’re here to make needs possible.

Turn your aspirations and dreams into reality with financial assistance from Fast Money, providing quick and easy personal loan in Singapore.Everyone has a dream. Whether it’s a trip around the world to experience all of those places you’ve read about in books and magazines, purchasing a luxury car and living the high life, or renovating your home to make room for your growing family. We’re here to help.

Trusted, professional. Legal. Credible.

Fast Money is fully licensed with all Singapore laws and regulations. We follow the industry’s best practices, and strictly adhere to the latest requirements laid out by the authorities.

Quality low interest rate Line Of Credit Loan

Applying for a loan in Singapore is easy with us. We offer our services to Singaporeans, PRs, and foreigners. Our loans come with some of the lowest interest rates in the region and also flexible repayment periods. We are reasonable, and will make arrangements to provide you with a flexible repayment period that meets your financial requirements.

Why Us?

With a strong background in financial technology, the founders saw a huge opportunity to improve the way people transact in the digital era. They were inspired by the need for a platform that could make it easier

We’re here to make needs possible.

Turn your aspirations and dreams into reality with financial assistance from Fast Money, providing quick and easy personal loan in Singapore.Everyone has a dream. Whether it’s a trip around the world to experience all of those places you’ve read about in books and magazines, purchasing a luxury car and living the high life, or renovating your home to make room for your growing family. We’re here to help.

Quality low interest rate Personal Loans

Applying for a loan in Singapore is easy with us. We offer our services to Singaporeans, PRs, and foreigners. Our loans come with some of the lowest interest rates in the region and also flexible repayment periods. We are reasonable, and will make arrangements to provide you with a flexible repayment period that meets your financial requirements.

Trusted, professional. Legal. Credible.

Fast Money is fully licensed with all Singapore laws and regulations. We follow the industry’s best practices, and strictly adhere to the latest requirements laid out by the authorities.

Why choose Fast Money?

Thousands of clients like yourself choose Fast Money for their most urgent cash needs. Here’s why.

We’re here to make needs possible.

Turn your aspirations and dreams into reality with financial assistance from Fast Money, providing quick and easy personal loan in Singapore.Everyone has a dream. Whether it’s a trip around the world to experience all of those places you’ve read about in books and magazines, purchasing a luxury car and living the high life, or renovating your home to make room for your growing family. We’re here to help.

Quality low interest rate Line Of Credits

Applying for a loan in Singapore is easy with us. We offer our services to Singaporeans, PRs, and foreigners. Our loans come with some of the lowest interest rates in the region and also flexible repayment periods. We are reasonable, and will make arrangements to provide you with a flexible repayment period that meets your financial requirements.

Trusted, professional. Legal. Credible.

Fast Money is fully licensed with all Singapore laws and regulations. We follow the industry’s best practices, and strictly adhere to the latest requirements laid out by the authorities.

Change to Why us section on their current website. Remove icons.

With a strong background in financial technology, the founders saw a huge opportunity to improve the way people transact in the digital era. They were inspired by the need for a platform that could make it easier

  • Empower users to manage finances easily
  • Provide fast and efficient payment services
  • Prioritize security and data protection
  • Continuously innovate in financial technology
  • Support business growth and financial inclusion

Are you eligible for a loan?

There are some strict regulations and rules that we must adhere by before extending loans to you. Here’s a simple checklist to get you started.

Step 1 of 3: Basic eligibility criteria

To first qualify for a loan with us, you must be either a:

  • Singaporean
  • Permanent Resident
  • Foreigner with valid pass (A valid Singaporean Employment Pass)
Step 2 of 3: Other criteria

You should also be:

  • Minimum 21 years of age
  • Full-time employed
Step 3 of 3: Other Criteria

Qualified so far? Great!
Please bring along the following documents (choose which applies):

Singaporeans/PR

  • NRIC or Passport No.
  • Phone bill OR Singapore power service bill
  • For salaried individuals: Latest 3 computerised monthly pay slip OR 15 months CPF statement OR Income Tax Statement

Foreigners

  • Original Valid Employment Pass
  • Original Passport
  • Tenancy Agreement for your Rental Premise, PUB Bill or Handphone Bill

FAQs

What is a line of credit loan and how does it differ from a personal loan?
A Line of Credit (LOC) loan is a revolving credit facility that allows you to borrow funds as needed up to a pre-approved limit. Unlike a personal loan, which disburses a lump sum upfront with fixed repayments, LOCs let you withdraw and repay flexibly, paying interest only on the amount used.
How does a secured LOC work compared to unsecured?
A secured LOC requires collateral (like property or savings) and typically offers higher limits and lower interest rates. An unsecured LOC doesn’t need collateral but may have tighter credit checks and higher rates.
Who is eligible for a line of credit in Singapore?
  • Singapore citizens, PRs, or foreigners with valid work passes.
  • Aged 21–65 years old.
  • Earning a minimum of S$1,800 to S$2,000/month.
  • Have stable employment and/or income history.
What interest rates and fees apply to LOC?
Interest rates can go up to 4% per month, charged only on the drawn amount. An admin fee of up to 10% of the approved credit limit may apply. Some lenders may charge additional fees for draw-downs or renewals.
How does the draw-down and repayment process work?
You can withdraw funds at any time up to your credit limit. Interest is charged only on the amount drawn, and you can repay partially or in full anytime. As you repay, the available credit is restored.
Can businesses apply for a LOC?
Yes, registered businesses in Singapore can apply for a business LOC. Eligibility is based on revenue, ownership, and submission of financial documents.
What documents are required?

Typical documents include:

  • NRIC/FIN
  • Latest payslips or income proof
  • Bank statements
  • Proof of address
  • For businesses: ACRA registration, business bank statements, director details
Is there an annual fee or unused line fee?
Some lenders may charge a maintenance fee or fee on unused credit, but this varies.
Can I re-borrow after repayment?
Yes, once you repay part or all of your outstanding balance, your available credit is replenished, and you can re-borrow up to the original limit.
Any early repayment penalties?
Most licensed moneylenders do not impose early repayment penalties, but always verify terms before signing. You may even save on interest by repaying early.

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© Fast Money 2024 Pte Ltd. All rights reserved