The amount of money you can borrow depends on lending institutions and your income. Banks offer a much higher loan amount but have higher income requirements. It can allow you to borrow up to 10 times your monthly income if your annual salary is at least $120,000. Take in mind to qualify for a bank loan you must have a minimum annual income of at least $20,000.
Licensed moneylenders allow you to access quick cash loan even your monthly income is less than $10,000. The minimum loan amount a Singaporean or PR can borrow is up to $3,000. If you’re having a monthly income of at least $20,000, you can borrow up to 6 times your monthly income. If you are a Foreigner and your annual income is less than $10,000 you can borrow up to $1,500. You can borrow up to $3,000 if you’re monthly income is at least $10,000 and less than $20,000. If you have at least $20,000 monthly income, you can borrow up to 6 times your monthly income.
