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Jurong East is one of the most vibrant regions of Singapore. This is because aggressive urbanization has brought about a huge increase in private and HDB residential buildings, office towers, and shopping complexes. Additionally, it has created a demand for Jurong East money lenders.

So do you live in or around Jurong East and need quick cash without the hassle? Then use our guide to find the best legal money lender in Jurong East.

Money Lending in Singapore

Significantly, the Singapore money lending scene has undergone significant changes over the past few years. Previously, it was a rather shadowy industry. However, today the government’s efforts to regulate money lending have created a thriving legal market.

Above all, one of the main advantages to you, the borrower, is the comfort of dealing only with financial professionals. With this professionalism comes the benefit of reliable advice, reasonable lending rates, and ethical privacy standards.

However, despite government regulations, not all money lenders are the same. This is because important factors such as interest rates, payment schedules, and coverage of non-Singaporeans (Permanent Residents and foreigners) differ between them.

Therefore, reviewing and choosing the best licensed money lender in Jurong East is difficult and time-consuming, but we did it for you. Here are four established and reliable lenders you should consider.

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Cash Direct Pte Ltd

  • Website: www.CashDirect.sg
  • Address: Vision Exchange, Jurong East-Central, 2nd CBD Area, Singapore
  • Phone: 6493 0088
  • Email: [email protected]
  • Hours: 11.30am – 7.30pm (Mon to Sat)

Cash Direct was established as a sole proprietorship in 2016 and was incorporated the following year. Their range of loans at competitive interest rates includes:

  • Foreigner Loan
  • Business Loan
  • Payday Loan
  • Debt Consolidation Loan
  • Grab/Gojek/Taxi loan
  • Bridging Loan
  • Renovation Loan
  • Medical Loan
  • Wedding Loan
  • Study Loan

Cash Direct’s main draw is its vast range of specialized loans, including a Foreigner Loan. Remember, not every legal money lender in Jurong East permits foreigners to apply for loans.

GS Credit

  • Website: www.gscredit.com.sg
  • Address: 1 Gateway Drive, #06-08 Westgate Tower, Singapore 608531
  • Phone: 6563 0321
  • Email: [email protected]
  • Hours: 11.00am – 8.00pm (Mon to Sat)

GS Credit currently has a superb 4.6-star rating on Google from almost 120 reviews. Moreover, it offers a diverse range of loans built around the most common reasons Singapore residents apply for them:

  • Personal Loan
  • Foreigner Loan
  • Debt Consolidation Loan
  • Wedding Loan
  • Business Loan
  • Home Renovation Loan
  • Medical Loan

The company is able to approve single loans as large as $100,000. What’s more, its accelerated application and approval process gives applicants an update of their loan status within three minutes of submitting the online form. However, you will still have to compete the formalities in person at their Jurong office.

BST Credit

  • Website: www.bstcredit.com.sg
  • Address: Blk 131 Jurong Gateway Road, #01-251, Singapore (Opposite J-Cube, Jurong East MRT)
  • Phone: 6299 1782
  • Email: N/A
  • Hours: 11:00am – 8:00pm (Mon – Sat)

BST stands for Begin with Service & Trust. The company divides its loan portfolio into two categories: Popular Loans and Lifestyle Loans.

Popular Loans

  • Payday Loan
  • Fast Cash Loan
  • Business Loan
  • Foreigner Loan
  • Personal Loan

Lifestyle Loans

  • Renovation Loan
  • Vacation Loan
  • Music Instrument Loan

Their list of loans is not as diverse as those of some competitors. However, BST Credit stands apart for its Lifestyle Loans. These customized loans for vacations and musical instruments make it a strong contender for the best licensed money lender in Jurong East.

OT Credit

  • Website: www.otcredit.com.sg
  • Address: Blk 135, Jurong Gateway Road #01-323 Singapore 600135
  • Phone: 6292 0119
  • Email: N/A
  • Hours: 11.00am – 8.00pm (Mon to Sat)

As its loan approval rate of 99% shows, OT Credit is able to accommodate almost any request from applicants. Many similar legal money lenders in Jurong East provide a diverse range of loans, but OT credit focuses on a select few:

  • Personal Loan
  • Business Loan
  • Bridging Loan
  • Emergency Fund
  • Cash Advance
  • Entrepreneur Loan

Their business-friendly concept is a boon for Singaporeans and permanent residents (PRs) who are considering setting up a small to medium enterprise (SME).

Loan Eligibility

The loan amount for which you are eligible depends on your income and residency status in Singapore.

Singapore Citizens and Permanent Residents (PRs):

  • If your annual income is less than $20,000, you can receive up to $3,000
  • If your annual income is over $20,000, you can receive up to 6 times your monthly income

Foreigners residing in Singapore:

  • You can receive up to $500 if your annual income is less than $10,000
  • If your annual income is between $10,000 and $20,000, you can receive up to $3,000
  • If your annual income is over $20,000, you can receive up to 6 times your monthly income

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Ask Questions of Jurong East Lenders Before You Decide

We have researched the best Jurong East money lenders for this guide. However, you should still consider your options carefully before making a final decision.

Therefore, always ask the lender to clarify matters when you are unsure. This is especially important for the repayment terms, the amount involved, and the penalties for defaulting.

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