Fast Personal Loan

Even if you have a bank personal loan.

Don’t Qualify for a Personal Loan from Bank?

Banks are generally laxer on Singaporeans and PRs in terms of the minimum requirements for them to get a loan. If you’re a foreigner, on the other hand, it can be quite difficult to get a personal loan from a bank if your income is less than $3,000 a month. (Some banks impose even higher minimum monthly incomes.)

If you’re unsuccessful in applying for a personal loan through a bank, you may turn to a licensed moneylender. The Ministry of Law publishes a list of licensed moneylenders so be sure to only borrow from them.

Singapore law requires moneylenders to explain the terms and conditions of a loan to you in a language that you understand, so listen and read carefully, and make sure you are comfortable with the loan terms. Feel free to shop around until you find a licensed moneylender you are satisfied with. Moneylender interest rates can be sky-high - as high as 4% a month - so be sure to borrow the absolute minimum you need, and for the shortest loan tenure you can manage.

In Alpha 8, we understand your situation very well.  We will work out an affordable personal loan plan with you.  WhatsApp us immediately to arrange for an appointment.

Why get Loan from Us?

Get the Personal Loan with low-interest rates in Singapore with Alpha 8 Pte Ltd. Why we are your best alternative for your Personal Loan in Singapore?

Low Interest Rate

We provide the lowest possible interest rate per month.

Licensed MoneyLender

We are a licensed Moneylender in Singapore (Lic No. 67/2019)

Immediate Approval

We process your loan application immediately.

Understanding Bank Personal Loan Interest Rates

While comparing the personal loans available in Singapore, you might have noticed at least two distinct interest rates attached to each loan. Here’s how they differ:

Advertised Interest Rate

This is the annual interest rate that is advertised in a bigger font. For example, DBS Personal Loan has an advertised interest rate of 3.88% p.a. However, it doesn’t give you the full picture, since it leaves out other details like processing and admin fees.

Effective Interest Rate (EIR)

It’s compulsory in Singapore to state the effective interest rate, or EIR, next to the advertised rate. This takes into account processing and other fees, as well as the details of your repayment schedule. In short, EIR shows you the “true” interest rate of the personal loan.

0% Interest Personal Loans

Some banks also offer promotional 0% interest in personal loans for short-term loans. However, these tend to come with high processing fees. That means you’ll still be paying the bank for the loan - it’s just that the bank collects your money upfront rather than in interest payments later on.


Block 449 Clementi Ave 3

#01-265 (Rear Entrance)

Singapore 120449

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+65 6733 3081