Why choose Tradition Credit for Personal Loans?

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Locate Us

810 Geylang Road
#02-79
City Plaza
Singapore 409286

Call us: 6846 9108

Interest rates and fees

If your annual income is less than $30,000, the interest rate which moneylenders can charge, for both secured and unsecured loans, is capped at:
13% Effective Interest Rate for secured loans.
20% Effective Interest Rate for unsecured loans.
If your annual income is $30,000 or more, the caps above are not applicable and interest rate is to be agreed upon between the moneylender and the borrower.

With effect from 1 October 2015, the maximum interest rate moneylenders can charge is 4% per month.
This cap applies regardless of the borrower’s income and whether the loan is an unsecured or secured one.
If a borrower fails to repay the loan on time, the maximum rate of late interest a moneylender can charge is 4% per month for each month the loan is repaid late.

With effect from 1 October 2015, all moneylenders are only permitted to impose the following charges and expenses:

  • a fee not exceeding $60 for each month of late repayment;
  • a fee not exceeding 10% of the principal of the loan when a loan is granted; and
  • legal costs ordered by the court for a successful claim by the moneylender for the recovery of the loan.
Before approaching a moneylender, consider other alternatives, such as the various financial assistance schemes offered by various Government agencies.
You are legally obliged to fulfil any loan contract you enter into with a licensed moneylender.
Borrow only what you need and are able to repay. Be mindful that if you are unable to meet the contractual terms, the late payment fees and interest payment will be a financial strain not just on yourself but also on your family.
  • Make sure the moneylender delivers to you the correct principal amount of the loan.
    The moneylender is only permitted an upfront deduction of a loan approval fee of up to 10% of the principal amount.
  • Pay the loan instalments on time to avoid incurring late payment fees and late interest.
  • You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments.

All the great loans in one place

We get you the cash when you need it.
Simple, fast and secure.
Borrowing with us is done in 3 easy steps.

Business Loan Available

We have simplified the business loan process by focusing on business health, not just personal credit.
And that let you spend time where it should be — on growing your business.

Short Term Loans

We customize short term loans that are most suitable for you, based on your personal circumstances. Choose the loan that is right for your lifestyle and budget.

Loans For Expatriates

Ever since 1994, Tradition Credit solve many issue facing loans for expatriates and foreigners residing in Singapore. When you employ our services, we tailor different payment schedules for your circumstances.

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All The Great Loans in One Place.
Tradition Credit.

Simple, Fast and Secure

We have been serving our customers in Singapore since 1994, offering a comprehensive suite of financial services solutions including business and personal loan services.
We have a long serving group of staff who are knowledgeable and helpful to assist you with the loan in a simple, fast and secure process.