At Magnus Credit Pte Ltd, we’re dedicated to addressing all your loan-related needs and concerns. Below, you’ll find answers to some of the most common questions from our clients. If your question isn’t listed, feel free to reach out to us anytime.
You can apply your loan via Singpass Myinfo from the loan application form in our website or you can drop by our office.
At Magnus Credit Pte Ltd, we have the right to not disclose any information regarding loan approvals.
This is subjected to case-by-case basis. However, we will try our best to customize your loan package according to your repayment ability.
Yes, we can grant you another loan provided that you are eligible according to The Moneylenders Act and its regulations.
Yes, we can grant you another loan provided that you are eligible according to The Moneylenders Act and its regulations.
Payments are made through GIRO by default. You can also pay through bank transfer to our designated accounts or cash in our office.
No, there will not be any additional fees. In fact, there is even an interest rebate if you pay early in fill. The earlier you make that payment, the more interest your will save on.
YES, you should not be pressured to take out any loans if it is not what you are looking for in terms of any clauses or personal reasons.
• You must be at least 21 years old and above to apply.
• Applicants must be either a Singapore Citizen or a Permanent Citizen status.
• Must not be declared undischarged bankrupt nor any bankruptcy that is ongoing.
• Permanently employed contributing monthly CPF
• Foreigners and expats must have a valid work permit or valid passport
• Self-employed applicants must have their income tax assessment, ACRA, or vocational license.
Secured Loans:
• No restrictions to any amounts
Unsecured Loans
• For Singapore Citizen & PR, If your annual income is less than $20,000: Up to $3,000
• For Singapore Citizen & PR, If your annual income $20,000 or more: Up to 6x your monthly income
• For Foreigner, If your annual income is less then $10,000: Up to $500
• For Foreigner, If your annual income are at least $10,00 and less then $20,000: Up to $3,000
• For Foreigner, If your annual income $20,000 or more: Up to 6x your monthly income
• Double check on the loan amount to make sure that it is correct.
• Make prompt repayments to avoid penalties, interests, or late payment fees.
• Every time a repayment is made, be sure that you are being issued a date and signed receipt, especially if it is in cash.
• Check your name, amount, and date, and the correctness of every detail.
• Double check that you are being issued a statement of account for all loans at least every six months.
• Retain and file up all physical copy of proofs as documentation and evidence of payments.
Magnus Credit Pte Ltd has the right to amend any of the Terms and Conditions without prior notice.
Last updated 17 July 2019
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