Block 129, Bedok North Street 2, #01-42, 460129

About the Product

Who can apply for Fong Chin Capital loans?

To be eligible for our loan in Singapore, the following criteria must be:describing the

  1. A citizen, permanent resident of Singapore or a foreigner with a valid work permit
  2. Above 21 years of age
  3. Not an undischarged bankrupt or facing any bankruptcy proceeding.
  4. Be permanently employed (CPF contribution) or for self-employed, have all relevant documents such as income tax assessment, ACRA , vocational license (if any), NEA license (if any).

What is the maximum loan amount I am eligible for?

For secured loans, there is no restriction. For unsecured loans, you can obtain:

  • Up to $3,000, if your annual income is less than $20,000;
  • Up to 2 months’ income, if your annual income is $20,000 or more but less than $30,000;
  • Up to 4 months’ income, if your annual income is $30,000 or more but less than $120,000; and
  • Any amount, if your annual income is $120,000 or more.

Do you need a Guarantor to obtain a loan?

No. You do not need a guarantor.

Can I still apply even if I have existing loans with other banks or moneylenders?

Definitely, yes. Our professional consultants will take pleasure in providing you with a structured loan plan based on your financial capacity.

What is the interest rate for a loan?

The interest rate charge is 4% per month.

What are the fees that money lenders can charge?

  • 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;
  • Legal costs ordered by the court for a successful claim for the recovery of the loan.

You can also check our guide on how to calculate your monthly loan payment.

What are the fees that money lenders can charge?

  • 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;
  • Legal costs ordered by the court for a successful claim for the recovery of the loan.

You can also check our guide on how to calculate your monthly loan payment.

What are the requirements needed to apply for a loan?

For Salaried and Commission-based Employees

    • Identification Card (NRIC)
    • Sing-pass Login with 2FA activated
    • Proof of billing ( Any latest bill indicating residential address)
    • Latest 3 month original payslip (Only applicable if there is no cpf contribution)
    • Letter of employment (Only applicable for new employment)

For Self Employed

      1. Identification Card (NRIC)
      2. Sing-pass login with 2FA activated
      3. Notice of assessment (NOA indicating trade income)
      4. ACRA (Accounting/Corporate Regulatory Authority)
      5. Proof of billing ( Any latest bill indicating residential address

For Taxi Drivers

    1. Identification Card (NRIC)
    2. Vocational license
    3. Taxi pass
    4. Min 7 days job summary
    5. Proof of billing ( Any latest bill indicating residential

Can I apply for another loan after fully paying off my previous loan?

Yes, you can. If you have a good repayment behavior and record, we can potentially offer you another loan with a larger amount.

Can I apply for a bigger loan amount?

Yes, after you fully repaid the current loan and do not have any late payments record.

Are Grab/Uber drivers eligible for a loan?

Yes. With valid documents such as proof of income, proof of billing, car rental agreement and income for for YA2017(if any).

Application Process

When and where can I apply for a loan?

We are located at 277, Balestier Road (326729). Our operating hours are on Monday to Friday 11:00am

– 7:30pm. On Saturday we are open at 11:00am – 6:00pm. We are close on Sundays and Public Holidays.

We also cater online loan applications should you decide to apply via Cash Mart websites.

Am I qualified for a loan?

To qualify for our loan in Singapore, the following criteria must be:

  • A citizen, permanent resident of Singapore or a foreigner with a valid work permit
  • Above 21 years of age
  • Not an undischarged bankrupt, nor facing any bankruptcy proceeding.
  • Be permanently employed (CPF contribution)
  • If you are self-employed, have all relevant documents such as income tax assessment, ACRA (if any), vocational license (if any), NEA license (if any).

Will I be still be granted a loan if my credit rating is poor?

Yes, we may still grant a loan. We will assess your financial health and discuss with you a manageable plan to both ensure responsible lending as well as borrowing.

 

We also have a guide on how to get car loans even with bad credit score. In most instances, the evaluation process applies to our different loan products including auto loans.

How long is the loan process?

If all requirements are provided and verified, first time borrowers can get the loan disbursed within 30 minutes at Cash Mart office.

Payment of Loan

How do I make repayments of my loan?

You can make repayment of your loan installments through island-wide ATM deposit or online transfer to any of our local bank accounts. Alternatively you can also make repayment in cash at our office.

What should I do after approval of my loan?

  • Pay the loan instalments on time to avoid incurring late payment fees and late interest.
  • Ensure you are issued a dated and signed receipt every time you repay your loan or pay any fees in cash, and check it for correctness (e.g. name, amount, date).
  • Make sure you receive a statement of account for all your loan(s) at least once every 6 months,and check it for correctness (e.g. name, amount, date); and
  • You should retain all statement of accounts and receipts of payments, as documentation and evidence of payments

Will there be any early repayment charge?

No, there is no early repayment charge and if you would like to make early full settlement of your loan, we would even provide you a discounted rate.

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