Bank Loan
Interest is 3-6% per month. Minimum monthly income of $1,800 to
qualify.
Licenced Moneylenders
Interest is 20% per month. No minimum income qualification. $80
needed to do a credit search on guarantor and borrower, and 20%
monthly interest on outstanding amount will have to be collected
the next day. Pay on the 15th of each month, late payment penalty
is 10% of the prevailing interest per day.
Hire Purchase
"You can apply for hire purchase through Courts, Best Denki, Harvey
Norman or Safe Superstore (Safe is open to civil servants only).
Once the application approved, we will buy back the goods from you
and pay them cash on the spot and you only need to maintain monthly
installment. For goods, we buy back at minimum 70% of the retail
price value. We will tell you what item to purchase when you are
processing their application."
Sign new handphone lines or upgrade existing
lines
$150 per 2-year cellular contract. Some offer $500 per broadband
contract I think. You can sign up as many lines as you need.
CPF Loan
Get 1%, in cash, out of commitment of your CPF money to invest in
unit trust.