Best Loan for Unemployed in Singapore
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The Best Loan for Unemployed in Singapore

With all of the established and startup companies that are raising higher employment standards, it’s getting even more challenging for the fresh grads to find a job. This is why there are now some corporations that offer the best loan for unemployed in Singapore.

These loan options provide an accessible way for the unemployed to have a certain budget for transportation, completing document requirements and many more. As we all know, job hunting is not cheap — you have to go out of your way, travel back and forth for several interviews and submission of requirements.

Hence, in terms of finding the best loan for unemployed in Singapore, there are some things that you should know first. Getting involved with an unreliable loan provider can only leave you with a higher amount to pay, so let’s review a few factors to consider here first.

Things to Keep in Mind Before You Apply for a Loan

Here are the things to think about before you pick a lender:

1. License Credibility

The first thing that you need to look for is the valid license of the lender. It’s very important for these service companies to register their business and follow the codes of conduct.

Make sure to check their license status before negotiating with them. Aside from doing personal visits, you can also rely on customer reviews to check their validity, for those will give you an idea of how their process works.

2. Interest Rates

Interest rate is one of the many things that we sometimes overlook when submitting loan applications. You must be aware that the rates differ based on the type of loan and the provider’s given rate at the moment.

So, be sure that the loan amount and interest rate is within your means. In this way, you can pay the total cost on time, avoiding penalty fees or a higher interest rate.

3. Payment Options

Before you agree on the loan terms, read the payment deadlines very carefully. Especially if you have an unstable financial status, you need to thoroughly check for a flexible payment schedule.

There are a lot of lenders who provide customised terms in case you’re not able to give the full payment on the said date. So, consider every possible option that you have before deciding.

4. Verified Documentations

In every agreement, there should be certified and authorized documentation of the transaction. Make sure that it’s detailed and don’t be afraid to ask for clarification.

The responsibilities of the lender and yours must be indicated on the document. Both of you must also have certain copies so, in case of further issues, you can just go back to what’s stated on the document.

5. Customer Service

Last but not least, you need a responsive lender — especially if you’re applying for an urgent loan. Particularly, for medical emergency reasons, you should see if they’re fast enough to address all of your concerns and come up with a good solution.

Ask them how long you must wait before the approval as well as the time when you can receive the loan. If it’ll take much longer, then you should look for other providers.

The Best Loan for Unemployed in Singapore

To further guide you as you search for possible loan options that you can apply for even without a job, here’s our list of the best loan for unemployed in Singapore.

These are the lenders with the most flexible and easiest process — that’ll certainly be convenient for you.

1.   Raffles Credit

Raffles Credit's Homepage

BEST FOR  Fast loan approval
ADDRESS 17A Circular Road Singapore 049373
OPERATING HOURS Mon to Fri: 10.30am to 8pm
Sat & Sun: 10.30am to 4.30pm
Closed on Public Holiday

Raffles Credit offers a broad range of loans and this includes their best loan for unemployed in Singapore. With this type of personal loan, you must be 18 years old and above and you must also have an active bank account.

You can apply online for a convenient option. Pretty easy, right? You just need to repay the loan on time so you can avoid higher interest rates.

Their other offered loans include foreigner, business, and more. So, whether it’s for your daily expenses or to start a business, you can truly rely on their services.


  • Flexible payment options
  • No hidden fees

Customer Reviews

Raffles Credit has been named one of the top lenders on the island because of the countless customers who’ve experienced personalised options and responsive customer service. This is why many claim them to have the best loan for the unemployed in Singapore.

A customer left this post on Google Reviews:

“Very good customer service, friendly and not pushy and will not ask you to borrow more when they know your capabilities are till where. Definitely recommend to make loan from them and they will advice you which is more beneficial to your situation.



2.   Credit 21

Credit 21's Homepage

BEST FOR  Full range of loans
ADDRESS 10 Anson Rd, #01-07 International Plaza, Singapore 079903
CONTACT DETAILS +65 6221 1811
OPERATING HOURS Weekdays and Saturday: 11am–8pm
Sunday: 10am–7pm

For the mothers who can’t apply for work because they need to take care of their children, you can apply for a loan at Credit 21. They offer customised loan products that’ll cater to everyone’s needs.

If you’re going to apply for your child’s needs or payment for utility bills, they can give you the best loan for unemployed in Singapore.


  • Urgent loans
  • Low interest

Customer Reviews

Credit 21 has gained the loyalty of many customers due to their professionalism and transparent interest rates. A customer from Google Reviews wrote:

“Very professional and detailed explanation on the loan process and repayment fees. Very transparent on interest rates with all fees clearly explained. Professional and pleasant service staffs.”


BEST FOR  Online Application
ADDRESS 33D Benoi Road, #03-00 Pioneer Lot, SINGAPORE 627788
CONTACT DETAILS Office: +65 6589 8891
Fax: +65 6795 2971 / +65 6732 0573
Call/Whatsapp: +65 9165 3123
Email: [email protected]
OPERATING HOURS Mon To Fri: 10am to 9pm

Sat & Sun: 10am to 5pm

If you’re looking for a loan that doesn’t have a complicated application process, then S G CREDIT would have to be your best option. All you need to do is fill up the form on their website and wait for the approval in no more than 15 minutes!

As long as you meet the requirements, there’s a huge chance that your application will be approved.

More than this, S G CREDIT is a trusted money lender in Singapore, so rest assured that you will end up in safe hands. It’s the ideal choice if you are in urgent need of cash.


  • Fast application
  • Licensed money lender

4. GoldStarCredit99

BEST FOR  Fast Disbursement
ADDRESS 1187 Upper Serangoon Road, #01-21, The Midtown, Singapore
CONTACT DETAILS +65 8364 8805 | [email protected]
OPERATING HOURS Monday to Saturday, 10:00 AM – 7:00 PM

GoldStarCredit99 has been providing financial help to small businesses and unemployed Singaporeans for more than 20 years now — which is why it’s one of the most trusted money lenders on the island. Over its years operation it has helped more than 7000 customers and approved almost 6000 loan applications.

What’s more, its interested rates are lower compared to other money lenders, so customers won’t have a hard time paying the loan back. It’s open to everyone living in Singapore, even to foreigners who are experiencing financial difficulties.

Above all, applying for its loan is very easy. All you need to do is sign up online, confirm your details, and wait for a few hours for approval.


  • Easy application
  • Fast approval
  • Low interest rates

5.   Soon Seng Credit

Soon Seng Credit Homepage

BEST FOR  Professional service and Loan rates
ADDRESS 1 Park Rd, #01-21, People’s Park Complex, Singapore 059108
CONTACT DETAILS Email : [email protected]
Tel : 6226 8860
OPERATING HOURS 11.00am – 8.00pm (Mon to Sat)
Sun: 10.30 to 5pm
Closed on Public Holidays

The subject of loans and lenders typically means tricky business for the regular person. After all, there are so many factors that need to be considered when applying for loans.

Fortunately, there is one lender that strives to make it as simple as possible for the people of Singapore. That lender is known as Soon Seng Credit.

At Soon Seng Credit, the “”best”” loan is one that has been carefully tailored to meet the clients’ needs. The experts at Soon Seng Credit always take the time to talk to each client, learning more about the situation, their needs, and current financial capacity and credit before moving forth with the loan options.

Aside from the tailor-fit loan options, Soon Seng Credit has also been commended for offering personal loans to both Singaporean residents and foreigners alike.

To close things off, it’s worth noting that the team at Soon Seng Credit works tirelessly to accommodate all clients. They always keep in mind the company’s policy, which is to work with honesty in mind.

As a result, clients can expect detailed explanations regardless of the loan they apply for. This way, the company policy is adhered and clients can know what to expect when working with Soon Seng Credit.


  • Offers loans for residents of Singapore as well as foreigners
  • Prompt and professional responses
  • No hidden fees
  • Hassle-free loan application

6. I-Credit

BEST FOR Personalized Loans
SERVICES Short-term loans, Long-term loans
ADDRESS 82 Lorong 23 Geylang, Atrix Singapore #05-02 (S) 388409
CONTACT DETAILS +65 6222 5222
OPERATING HOURS Monday to Friday: 11:00 am – 8:00 pm
Saturday & Sunday: 11:00 am – 4:00 pm

I-Credit is a privately registered moneylender that specializes in personal loans, both short-term and long-term, such as mortgages. They are also at an accessible location, which is perfect for consumers who are on the go and want to use moneylending services nearby.

We admire their approach to moneylending since they pay special attention to detail and take into account the clients’ requirements and priorities, such as their budget and financial situation.

All pertinent information is also easily available on their website, allowing clients to know what charges to expect when using their services, as well as the assurance that they completely adhere to all applicable laws and standards.

They also have a high approval rate and simple payback ways that are readily adjustable to the client’s demands, such as monthly, weekly, and fortnightly, among others.

Overall, with complete government licenses and equally effective tailored services, we strongly suggest their services to customers in need of money who don’t want to go through the headache of an application procedure.


  • Fast approval 
  • Flexible loans
  • Fully licensed by the government

Customer Reviews

Here is a review from their client:

“Super convenient location just across Aljunied mrt. Ample carpark and nice building. I am a customer of the licensed moneylender (I-Credit) on the 5th floor. Always find it very easy to come here.”

And that’s the end for our list of the best loan for unemployed in Singapore! Make sure to check each service and see which one perfectly suits your needs and preferences.

If you’d like to suggest more options, let us know all about it so we can help everyone to have more possible options.

However, if you’re not completely satisfied with these loan services, you may see these options for the best personal loans in Singapore. They have a wide range of offers, giving you more choices — they generally require employment, though.