Ease the Burden With Our Debt Consolidation Loan in Singapore
Easy loan applications online
Low interest rates
Swift loan approval
Customised loan schemes
Ready to enjoy effortless loan repayments?
Apply for our personal loan for debt consolidation!
What is a Debt Consolidation Loan in Singapore?
A debt consolidation loan is a refinancing plan that merges your unsecured debts to form a new loan. This personal loan for debt consolidation will bear a new — and often lower — interest rate, and it only has one monthly repayment to track. By applying with a debt consolidation money lender, you no longer need to worry about unpaid instalments and snowballing interest across several lenders.
Punctually repaying several loan instalments every month can be exhausting, especially if you’re still dealing with an emergency. A debt consolidation loan in Singapore minimises the risk of late repayments and stops debt from spiralling out of control, so long as you’re disciplined. A debt consolidation loan in Singapore is also a convenient way to eliminate your debt and start building up your credit rating again.
Loan for Debt Consolidation: Let Us Help Control Your Debt
Receive funds in as quick as 30 minutes
Affordable interest rates and minimal fees
Personalised and flexible loans
Safe and secure loan contracts
Uses of a Debt Consolidation Loan in Singapore
Juggling too many loans
- When you are juggling multiple payments across different due dates and lenders
Need a touch of personalisation
- When you need a loan package that suits your specific financial requirements
Rapid funding
- When you require quick cash to pay off existing debts instantly on the same day
Easier budgeting
- When you want to factor one loan repayment into your monthly budget, rather than multiple loans
Reduced interest charges
- When you are looking to save money by focusing on just one loan with simplified rates
If you’re struggling with the monthly repayments from multiple loans, a debt consolidation loan in Singapore is just what you need!
Our Super Easy 3-Step Process
Quick Online Application
Submit your loan application to us.
Wait For The Application Update
Our loan consultant will contact you so we can conduct a simple interview to have a clearer picture of your needs, discuss further on your loan package and repayment scheme.
Get Your Cash
Once you’ve signed the contract, expect to receive the funds via PayNow or in cash on the spot.
Commonly Asked Questions —
Debt Consolidation Loans in Singapore
What should I consider before taking up a debt consolidation loan?
Before taking up a debt consolidation loan in Singapore, first check the repayment history for your existing unsecured debts. Only apply for a debt consolidation loan if you’ve consistently fallen behind on your repayments and can’t keep track of the instalments’ due dates.
How can I qualify for a debt consolidation loan in Singapore?
To qualify for a debt consolidation loan from a licensed money lender, you need to have proof of unbilled principal balances from your unsecured debts. You also need to be legally residing in Singapore. Finally, you have to be drawing a stable income every month.
I have an existing debt consolidation loan. Can I refinance this existing loan from a debt consolidation money lender?
Yes, you can. However, note that this new debt consolidation loan from a licensed money lender is subject to approval and your overall loan limit from lenders across Singapore. Other debt consolidation money lenders may impose a fresh processing fee as well.
What documents do I need for a debt consolidation loan application?
Before applying for a debt consolidation loan in Singapore, you’ll need to prepare these documents:
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Your NRIC
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Your proof of income (Most recent three CPF statements, payslips, or income tax Notice of Assessment)
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Your most recent credit report
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Your unsecured loan and credit card statements
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A confirmation letter that has proof of the unbilled principal balances for your unsecured debts
How do I pay for my consolidation loan in Singapore?
You can repay your debt consolidation loan’s monthly instalments either in person at Synergy Credit’s office, via bank transfer, or PayNow.
What is the interest rate for Synergy Credit’s debt consolidation loan?
The interest rate for our debt consolidation loan ranges from 1-4% a month. Rest assured, as a licensed debt consolidation loan money lender, we will never offer a monthly interest rate exceeding 4%.
