On-Line Credit Pte. Ltd. began its operations in Bedok. It’s a financial service and an independent company which has been on the market since the year 1998. On-Line Credit Pte. Ltd has provided financial services and credit to many customers who require financial assistance.

Since then, On-Line Credit Pte. has developed to offer a varied product collection to its customers, which includes bridging loans for properties that are private, personal loans, loans for foreign people living in Bedok, and also short-term loans.

Below are useful tips that will guide you on how to borrow a loan from On-Line Credit Pte. Ltd.

1) Necessary Documentation

Before any licensed moneylender gives you a loan, then they must be persuaded that you can pay back the loan you took. Therefore, licensed moneylenders will always request some of the documents from the person borrowing the loan that will assure them that you are capable of paying back the loan.

Below are some of the important documents that moneylenders require.

  • Proof of your residence
  • Proof of your identity
  • Copies of all possessions documents
  • The newest salary slip
  • Bank statement for the previous three months

2) Interest Rate

In Bedok, the maximum rate a lender can charge an individual is 4% per month. Irrespective of the salary of the borrower and whether that loan is secured or not. When relating interest rates intended for personal loans in Bedok, then you must recognize the following loan’s rates which are;

  1. Annual Interest Rate

This type of loan someone pays every year, for instance, if 2%p.a is rate charged, then you should pay the same amount of money that you borrowed in addition to 2% in that year

  1. Effective Interest Rate

This type of rate is slightly higher compared to the annual interest rate. The reason is simply that effective interest rates take fees like administration fees, several installments, processing fees, etc. Hence, the overall amount an individual has to pay is the principal amount together with interest, even though some other charges are included.

3) Consider A Short-Term Loan If Your Credit Score Is Low

The short-term loan has some of its advantages which include:

  • You will not require a warranty. Important long-term personal loans, for example, home loans, usually need a warranty. While the short-term loans come with some squeezed principal calculations. A trustworthy moneylender will always assist the borrower to make a suitable plan so that you invest that loan very cleverly.
  • Lower interest rates. A short-term loan is less risky and has an affordable interest rate since they are less risky. The chances of being involved in an accident or losing your income source are less through a shorter period. That is the main reason why money lenders don’t need to increase their loan rates to lessen the potential risk.
  • Quicker transfers. A short-term loan is not that much risky and therefore, in less than one hour, the loan will be approved by the lender for you.

4) Consider A Long-Term Loan If You Need More Money

Long-term loans enable a person to borrow huge amounts of cash. The main thing here is you should borrow loans for the urgent things that you want. For instance, paying your school fees, going for a vacation, or buying a car.

Below is an example of its pros:

  • Reduced EMI. For instance, when long-term loans are spreading over a high duration, then the main amount is therefore divided into a smaller installment. You should not forget to use this personal loan calculator to determine the correct tenure size for the wants that you might have. Otherwise, the added interest that accumulates over some time, enables you to lose cash in the end.
  • Better credit score. When you choose to pay the payments on time, there will be a certain upgrade to your credit score. This is the reason why moneylenders always honor you as a trustworthy potential customer. Therefore, you should always know that your financial history is determined by 30% of your credit score, while on the other hand, 25% will be determined always by your credit length.

5) Avoid Loan Sharks

Illegal moneylenders always target people whose credit scores are very low. They usually trick you to do business with them, at long last the lenders are likely to harass and even squeeze more money from you.

That is the main reason why you should always make sure that you deal with an authorized moneylender. Here is how to identify a loan shark:

  • The illegal lender will never call you to their head offices for unresolved diligence. Alternatively, they promise you to assign that loan amount via phone calls or WhatsApp.
  • Loan sharks will never ask you for exact documentation, instead, they may ask you to deliver your national ID or even expose your personal sing pass information.
  • Illegal moneylenders usually use violent advertising strategies. For example, sending text messages or ads via e-mail. Then again, loan sharks use only their websites, specialized directories, or their building walls, to market their businesses.
  • Unauthorized moneylenders are not found on MinLaw’s database of licensed moneylenders in Bedok.
  • The moneylenders will harass you when you miss a payment.


Before you even decide to acquire a personal loan, what you have to do, is to carry out a thorough background check of different moneylenders. Online Credit Company will favor your wants because it has some of the best terms ever!

On the other hand, debt collectors will assist you to decrease interest in directing you to a debt consolidation service. However, you can make this clear when you are dealing with an authorized moneylender. The moment it comes to the loan sharks; they might even take some of your properties that were not listed in the contract. Simply because you did not pay your loan at a certain time. Therefore, when you are in Bedok, you should then make sure you get one of the best-legit personnel loans.