Resolve Your Financial Woes With Our Debt Consolidation Loan in Singapore

Quick application approval. Loan tenures of up to 12 months. Thousands of 5-star reviews.

What does “debt consolidation loan” mean?

A debt consolidation loan in Singapore, also known as a personal loan for debt consolidation, combines your outstanding balances from – almost all – unsecured loans. This combined amount is distributed across a new loan tenure and interest rate that’s most likely lower than the one for each individual loan.

Easy, right? Start applying for a consolidation loan in Singapore today!

How does a debt consolidation loan in Singapore come in handy

When Debt Starts to Snowball	When You Need to Boost Your Credit Score	When You Need Easier Monthly Budgeting	When You Run the Risk of Late Repayments
If you’re starting to rack up interest and late repayment fees for various individual loans, it’s time to consider a personal loan for debt consolidation.	A debt consolidation loan in Singapore helps you repay loans punctually by merging them into one monthly repayment. This contributes to improving your credit score.	Instead of having to track multiple sources of unsecured debt, a consolidation loan in Singapore ensures you only have one instalment to pay every month.	If you find yourself constantly paying your instalments late or in the nick of time, a personal loan for debt consolidation helps take away your worries.

Why apply for a debt consolidation loan with us?

1. Speedy loan approval

We’re a legal money lender that is all about speed and efficiency — regardless of whether it’s a debt consolidation loan consultation or enquiry, and especially when it comes to loan application approval and cash disbursement. Expect to have your loans disbursed in as quick as 5 minutes if you apply with our loan company, and resolve any financial emergency you have at once!

2. Zero hidden fees

At Galaxy Credit, we’re all about 100% transparency and will absolutely not include any sudden, hidden charges as you’re making your monthly repayments. This doesn’t just apply to our debt consolidation loan, but even our renovation loans, payday loans, and any other loan type. Rest assured that we’ll inform you of any fees upfront, as we’re here to help you through this loan journey, not add on to your financial burdens.

3. Lower interest rates

If a debt consolidation loan from a money lender is what you seek, we are what you need. We will help consolidate all your existing loans into one so you no longer have to worry about handling multiple monthly repayments. Our private money lending rates are capped at 4%, so you never have to worry about sky-high rates. With a low interest personal loan for debt consolidation, repayments aren’t only simpler but more affordable, as you get to save with reduced interest rates.

4. Simple application procedure

Compared to banks and financial institutions, the eligibility requirements with a legal lender is not as stringent and lesser documents are required. Money lenders are not as particular about your credit score, but may merely do a basic credit assessment to understand your history with borrowing. With a licensed money lender’s debt consolidation, you’ll get a higher chance of quicker loan approval so you can save tons of time.

Streamline your outstanding debt with our debt consolidation loan in Singapore

Debt Consolidation Loan (Commonly Asked FAQs)

Q1. What is a personal loan for debt consolidation?

A debt consolidation loan money lender’s solution groups up your unsecured loans’ outstanding balances and redistributes them with a new loan tenure and interest rate.

Q2. Who is eligible for a debt consolidation loan in Singapore?

A licensed money lender for debt consolidation determines you’re eligible when you’re:

18 years old and above
A Singapore Citizen, Permanent Resident, or Foreigner employed in Singapore
Earning a steady income
Renting or owning a home in Singapore

Q3. How can a debt consolidation loan in Singapore help with my debts?

A debt consolidation loan from a licensed money lender prevents your outstanding balances from growing beyond your control because of late interest rates and late payment charges. With a single repayment every month, it’s easier to track and get out of debt quicker.

Q4. What are the interest rates and tenures for a debt consolidation loan in Singapore?

The interest rates and loan tenures for a debt consolidation loan from a licensed money lender are 4% and below per month, and up to 12 months respectively.

Q5. What documents do I need to submit when I apply for a debt consolidation loan in Singapore?

When you apply for a debt consolidation loan from a licensed money lender, you need to provide these supporting documents:

NRIC or passport, which proves your identity
Payslips or CPF statements (latest three months), or Income Tax Notice of Assessment, which proves your income
Latest credit report
The most recent credit card and unsecured loan statements
A confirmation letter with proof for your unsecured loans’ unbilled principal balances

Q6. What are the do’s and don’ts of a personal loan for debt consolidation?

When taking up a licensed money lender for debt consolidation’s solution:

Confirm you’re comfortable with the interest rate and loan tenure from the debt consolidation loan money lender.
Repay all your instalments punctually. Try to make the payment several days before the deadline.

Don’t

Take up a debt consolidation from a money lender if the total amount – with interest – is greater than the sum of your individual loans
Agree to a tenure that’s difficult for you to repay consistently, even if it means settling your debt quickly

Q7. Can I do a partial consolidation of my outstanding debts?

With a licensed money lender’s debt consolidation loan, you can. However, please note that this won’t be possible if you intend to apply for a debt consolidation plan from the participating financial institutions in Singapore.

Q8. How can I apply for a debt consolidation loan in Singapore?

Send in your debt consolidation loan application with your supporting documents online.
Get notified of your debt consolidation loan application status in just 20-30 minutes.
Visit our office, sign the loan offer, and receive your cash; either in-person or through PayNow.