Q: What are the requirements & Eligibility to apply?
A: Both Singaporeans and Foreigners may apply. All applicants must possess a valid domestic Proof of Identity such as NRIC, S-Pass, Employment Pass or Work Permit. Applicants must be above the age of 18 with a valid proof of employment and income as well. For more details on the criteria for borrowing, please refer to the Online Application page here.
Q: What is the maximum amount I can be eligible to borrow?
A: Varying based on your income, for applicants with an annual income exceeding SGD$30,000 you will be eligible to borrow up to 4X your monthly income. For applicants with an annual income below SGD$20,000 you will be eligible for up to SGD$3000 and for applicants with an annual income between SGD$20,000 to SGD$30,000; up to 2X your monthly income subject to approval. For applicants with an annual income exceeding SGD$120,000, there are no limitations on how much you may borrow. However the final sanctioned amount will be subject to approval.
Q: What are the fees and charges involved?
A: Monetium Credit will charge you an interest rate between 1 to 4% per month depending on a case by case basis; additionally, there will be a 5%+ Acceptance Fee imposed on your approved loan amount.