Frequently Asked Questions (FAQs)

In accordance with Ministry of Law regulations, the legal limit for unsecured loans depends on your residency and annual income:

For a smooth and fast application, please have your Singpass ready. Depending on your residency status, you will need to provide the following:

• Identification: NRIC (for Singapore Citizens / PRs); Passport and Work Pass (for Foreigners)
• Proof of Income: Latest 3 Months’ Payslips & Bank Statements Showing Salary Credit
• Proof of Residence for Foreigners: Latest Utility Bill (within 3 months), Official Letters with Your Residential Address, Tenancy Agreement

Yes, we perform a standard check with the Moneylenders Credit Bureau (MLCB). However, unlike banks, we look at your current ability to repay rather than just your past mistakes. Even if you have a less-than-perfect credit score, we encourage you to apply so we can review your unique situation.

To ensure responsible lending, a consistent source of income is required. However, you are welcome to apply for a review if you have:

• A signed appointment letter for a new role.
• Other regular income (such as rental income or a pension).

The best way to check: Submit our 2-minute online application. This allows our Novena team to review your specific documents and advise you on the best options available.

Our goal is to provide same-day cash. Once you submit your 2-minute online application, we will contact you for a quick verification. After you sign the loan agreement at our Novena office, the funds are usually disbursed to you instantly via PayNow or bank transfer.

All licensed money lenders in Singapore are strictly regulated by the Ministry of Law. United Credit maintains 100% transparency and follows these legal caps:

• Interest Rate: Capped at a maximum of 4% per month.
• Administrative Fee: A one-time fee of up to 10% of the loan principal, deducted only upon loan approval.
• Late Interest: Maximum 4% per month for each month the repayment is overdue.
• Late Fee: Capped at $60 per month.

No. United Credit operates with total transparency. There are no “hidden” monthly charges. Outside of the interest rate and the standard one-time administrative fee (up to 10%), you will never be charged for “processing” or “consultations.” All terms are clearly stated in your loan contract before you sign at our Novena office.

Efficiency is our priority. When you apply using Singpass, we can typically provide an in-principle decision within 15 to 30 minutes. This allows you to secure the financial certainty you need without the long wait times of traditional banks.

Note: Applications submitted outside of business hours or on Public Holidays will be prioritised as soon as our Novena office reopens.

Yes. Under Ministry of Law regulations, all borrowers must physically meet the licensed lender at their place of business for a face-to-face verification and to sign the loan contract.

• The Process: We provide an in-principle approval online first. You only need to visit our Novena office once you are ready to collect your funds.
• Appointments: While we welcome walk-ins, we recommend calling ahead or applying online first to ensure a priority slot.

You will receive your funds on the same business day that you sign your contract. Once the final verification is complete at our office, your loan is disbursed immediately via PayNow or Bank Transfer.

Once your form is submitted, here is what to expect:

1. Initial Review: Our team reviews your data (usually within 30 minutes on services hours).
2. Professional Contact: We will reach out to you to discuss your tailored loan terms and provide your in-principle approval.
3. In-Person Verification: Meet us at our Novena office to sign your final documents. This is a one-time legal requirement before we send the funds to your account instantly.
4. Instant Cash: Once the loan agreement is signed, you receive your funds on the spot via PayNow or Bank Transfer.

We provide flexible tenures of up to 35 months. Whether you require a short-term bridge or a longer-term personal instalment plan, we structure your schedule to suit your specific cash flow. You can discuss a customised plan with our team after completing your 2-minute online application.

At United Credit, we encourage financial prudence. You can settle your loan early with no early repayment penalties. Any remaining unaccrued interest will be waived, helping you save significantly on total borrowing costs as soon as your property funds are released.

We understand that unexpected situations happen. If you anticipate a delay, contact our team immediately. We prefer to work with you to find a proactive solution or a temporary adjustment to your schedule, helping you avoid late fees and protect your credit standing with the MLCB.

Licensed lenders like United Credit follow strict Ministry of Law rules.

• Solicitation: We never send unsolicited SMS or WhatsApp advertisements (this is illegal).
• Interest: We are capped at a 4% monthly interest rate.
• Contract: We always provide a physical, legal contract signed at our Novena Regency office. If a “lender” only uses WhatsApp and never meets you in person, they are likely unlicensed.

United Credit will never ask for your Singpass password or your 2FA One-Time Password (OTP). Our “Login with Singpass” feature uses the official government API, meaning you enter your details directly into the government’s secure system, not ours.

Yes, it is the safest and fastest way to apply. By using Singpass MyInfo, you ensure that only verified, accurate data is shared through a secure government-encrypted channel. This protects you from identity theft and speeds up your approval to under 30 minutes.

You can access our comprehensive Privacy Policy here. We believe in total transparency regarding how your data is handled, stored, and protected.