Bank personal loan. The borrower must have a proper occupation and must show the company's salary slip or the income tax document of the past year. Strict exams and low interest. Borrowers can apply for a certain amount of credit card loans and withdraw cash at any time.
Small loan company. The borrower's qualification requirements are not so strict, the loan approval speed is very fast, and the interest is slightly higher, with a monthly interest rate of about 1%. Singapore law stipulates that the maximum amount of unsecured loans cannot exceed 12 times of personal monthly income. The borrower is fully protected by law. The loan company shall not use illegal means to collect money, otherwise its business license will be revoked. The person in charge of the loan company may be severely punished by law.
Pawnshops pledge loans with personal valuables.
Never borrow money from illegal lenders, the loan interest is very high. These people often have underworld backgrounds, and generally use intimidation, murder and other means to collect money, and borrowers may also get into lawsuits.