A Comprehensive Guide to Bridging Loans for Homebuyers

What is a bridging loan: a complete guide

As Singapore’s housing prices fluctuate—rising 1.4% in early 2024, according to Channel News Asia—bridging loans become crucial for homebuyers facing the timing gap between purchasing a new home and selling an existing one.  These loans are especially vital in quick-turnaround scenarios like auctions. This guide explores how bridging loans function, their types, and key features, … Read more

Foreigner Loan Guidelines in Singapore: A Comprehensive Guide

foreigner loan guideline

Inflation in Singapore has slowed down, but both locals and expats are still feeling the financial pinch.  With private residential property prices soaring by 29.7% in 2022, expats are facing higher rents, sometimes double the previous rates, according to Singapore’s Urban Redevelopment Authority’s rental index. This has increased the demand for foreigner loans, especially among work … Read more

Money Lending Singapore: All You Need to Know Before Borrowing

Lending Money

Singapore’s household debt has hit a decade-low, with the government enhancing support through vouchers and cash handouts, as reported by the Straits Times. Despite these efforts, many Singaporeans still experience financial difficulties and seek financial assistance.  This guide delves into the essential questions surrounding licensed money lending in Singapore. Whether you’re considering a loan for … Read more

Get Your Dream Bike: A Guide to Motorcycle Loans in Singapore

motorcycle loan singapore

In Singapore, the cost of a motorcycle can vary widely, with some models priced under S$20,000. Vespa can cost around $19,000, while Honda and Yamaha offer bikes below $10,000.  Due to the high cost of owning a vehicle in Singapore, many opt for motorcycle loans to make the purchase more manageable. Loans allow buyers to … Read more

Why An Unsecured Loan Is The Best Loan For You

Loan

Unsecured loans are increasingly popular in Singapore, with a significant rise in applications among young adults. Recent data from the Singapore Credit Center shows a 96.75% increase in overdrafts and a 65% increase in personal loans from Q1 to Q2 2023.  Notably, those aged 21-29 are using more unsecured credit, with a 2.53% increase in … Read more

How to Save Money in Singapore: The Ultimate Guide [year]

how to save money

Singaporeans save about 31.5% of their income on average. However, it’s important to remember that this is not a one-size-fits-all benchmark, as for some, saving this portion may be unrealistic.  For example, a young professional earning S$4,000 per month might aim to save S$1,200 (30%), while a family with higher expenses might target a lower … Read more

Understanding Secured vs. Unsecured Loans in Singapore

unsecured vs secured loan

To address the financial strain on Singaporeans due to rising costs, the government is increasing its support with an additional S$600 in CDC vouchers for each household and up to S$400 in cash handouts for eligible adults, as Deputy Prime Minister and Finance Minister Lawrence Wong announced.  Despite these measures, many Singaporeans still seek additional … Read more

Your Ultimate Guide on How to Clear Debt Fast in Singapore

how to clear debt fast

Singaporeans are navigating a challenging debt landscape, intensified by COVID-19’s economic impacts. Despite the manageable overall debt situation, as highlighted by Minister Alvin Tan, financial stress remains for individuals and businesses.  Notably, a rise in younger Singaporeans seeking debt assistance has been observed, with agencies like Arise2care Community Service witnessing a 50% increase in help … Read more

Singaporeans’ Guide to Borrowing Legal Loans

Loan application form stamping a guide to legal loans

These days, making ends meet and keeping businesses afloat has become more of a burden. Thus, it is inevitable for most people to run short or be tight on the budget whatever their situation may be. This proves how much loans are beneficial to sudden bills and other financial emergencies. The only problem is, ensuring … Read more

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