Make Repayment Easy With a Debt Consolidation Loan
Streamlined application process via Singpass
Affordable interest rates
Over 10 years of experience
Need to Ease Repayment?
Debt Consolidation Loans Are Your Answer
It can be a stressful affair to struggle in paying off multiple debts, on top of managing your day to day finances. This is where a debt consolidation loan in Singapore shines — it is a viable solution for credit card debts, personal loans, or any other financial obligations. As a debt consolidation money lender, we know how to help you combine your debts and make way for easier repayment.
It can be a stressful affair to struggle in paying off multiple debts, on top of managing your day to day finances. This is where a debt consolidation loan in Singapore shines — it is a viable solution for credit card debts, personal loans, or any other financial obligations.
As a debt consolidation money lender, we know how to help you combine your debts and make way for easier repayment.
What Is a Debt Consolidation Loan in Singapore?
A debt consolidation loan in Singapore is a loan that lets borrowers combine numerous debts into one loan with a fixed monthly payment, often at a lower interest rate. With a personal loan for debt consolidation, it doesn’t only simplify repayment, but also it can improve cash flow and reduce overall interest costs.
Why Would You Need a Debt Consolidation Loan in Singapore?
Organise Debts
If you have several loans or credit card debts, combining them into one personal loan for debt consolidation can simplify your monthly payments and streamline your finances.
Increase Cash Flow
By engaging a debt consolidation money lender for a loan, you can potentially lower your monthly payments or extend the loan term, which may improve your cash flow and make it easier to cover essential expenses.
Improve Credit Profile
Successfully managing a debt consolidation loan in Singapore can positively impact your credit profile, especially if you frequently missed payments on your existing debts.
Reduced Stress
Rather than manage multiple payment amounts across different lenders and due dates, , taking up debt consolidation with a licensed money lender lets you take control of your finances by only dealing with a single payment, giving you peace of mind.
Organise Debts
If you have several loans or credit card debts, combining them into one personal loan for debt consolidation can simplify your monthly payments and streamline your finances.
Increase Cash Flow
By engaging a debt consolidation money lender for a loan, you can potentially lower your monthly payments or extend the loan term, which may improve your cash flow and make it easier to cover essential expenses.
Improve Credit Profile
Successfully managing a debt consolidation loan in Singapore can positively impact your credit profile, especially if you frequently missed payments on your existing debts.
Reduced Stress
Rather than manage multiple payment amounts across different lenders and due dates, , taking up debt consolidation with a licensed money lender lets you take control of your finances by only dealing with a single payment, giving you peace of mind.
Why Engage 96BM Credit for a Debt Consolidation Loan in Singapore?
At 96BM Credit, we’re not only a debt consolidation loan money lender — our extensive loan solutions also include fast cash loans, medical loans, and bad credit loans in Singapore. Since 2010, we have dedicated ourselves to being a trusted licensed money lender in Singapore with reliable and quality services:
As a highly-rated licensed lender, we have over 3,000 5-star reviews on Google.
With simple interest rates from as low as 2.27% per month, you can pay off your debt consolidation loan comfortably.
We tailor each loan to your specific financial conditions. This ensures that the tenure and monthly repayment amount are optimal for your situation.
1
Apply
Send in your loan application via our website.
2
Application Status
Receive an update on your application status.
3
Disbursement
Get your money in as quick as 15 minutes after signing your contract.
Debt Consolidation Loans in Singapore — Frequently Asked Questions
How do I know if I’m eligible for a debt consolidation loan in Singapore?
To qualify for a debt consolidation loan from a licensed money lender, you must meet the following criteria:
- Be a Singapore Citizen, Permanent Resident (PR) or foreigner with a valid work pass.
- Be at least 18 years old.
- Be employed / self-employed.
- Have available capacity to borrow from authorised lenders.
What documents will I need to submit for a debt consolidation loan?
- A copy of your NRIC (both front and back) or passport.
- Recent income documents (approved income documents are listed on the application form).
- Your credit report from Credit Bureau Singapore
Can I apply for a debt consolidation loan if I have a bad credit score?
Yes. Our aim as a debt consolidation loan money lender is to help our borrowers repay their debts and improve their credit profile. Thus, we accept most, if not all, applications regardless of credit scores.
What are some common misperceptions about debt consolidation loans in Singapore?
Common misconceptions about debt consolidation loans from licensed money lenders include:
Debt consolidation loan eliminates debt:
While a debt consolidation loan makes debt repayment easier by consolidating multiple loans into one, it is not a quick fix for financial problems. The debt —albeit becoming more manageable and easier to track— will still be there unless you take active steps to clear it.
No negative impact on credit standing:
While consolidating debt can help improve your credit profile, if you miss any repayments or default on the loan, it will still negatively impact your credit profile.
All debt consolidation loans have the same T&Cs:
The terms of a debt consolidation loan depend on factors such as your credit history, income, and may vary from lender to lender. It’s not a guarantee that you will always get the same terms.
What is 96BM’s interest rate for debt consolidation loans in Singapore?
We’re a debt consolidation loan money lender that offers simple interest rates as low as 2.27% interest per month.
What are some tips when taking on a debt consolidation loan in Singapore?
Shop Around
Compare offers from different debt consolidation loan money lenders to find the best interest rates and terms that suit your financial situation.
Understand the Terms
Read the loan agreement carefully, paying close attention to interest rates, repayment terms, and any fees involved.
Create a Budget
Establish a realistic budget that incorporates your new loan payment, ensuring you can meet all your financial obligations.
Avoid New Debt
Resist the temptation to take on additional debt while repaying your consolidation loan in Singapore to prevent falling back into financial trouble.
Track Your Progress
Regularly monitor your repayment progress to stay motivated and make adjustments to your budget as needed.
Communicate with Your Lender
If you encounter financial difficulties, reach out to your debt consolidation money lender to discuss plausible options before missing payments.
Take control of your debt today.
With the help of a debt consolidation loan money lender, stay ahead of your debts conveniently and affordably by consolidating all your loans into one fuss-free loan.
