Considered On More Than Your Credit Score
A less-than-perfect credit history doesn't automatically rule you out. As a licensed moneylender, BST Credit looks at your current income and ability to repay, not just your credit bureau score, while still carrying out the proper checks every application requires.
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Loan Purposes
If a bank has turned you down because of your credit history, a licensed moneylender may still be able to help, once you've gone through the proper verification.
If your credit score has led to a bank rejection, that alone doesn't rule out an application with us.
A past financial setback doesn't have to define your options now, provided your current income supports repayment.
If you're newer to credit, such as some foreigners or younger applicants, a thin credit file won't automatically disqualify you.
Whatever the reason you need funds, we'll assess your current situation fairly, not just a score from your past.
What we look at, and what we don’t rely on alone:
Banks typically rely heavily on your credit bureau score when deciding whether to approve a loan. As a licensed moneylender, we take a broader view, your current income and ability to repay matter more to us than a score reflecting past difficulties.
That said, every application still goes through proper verification. We’re required by the Ministry of Law to assess your ability to repay and confirm your details before any loan is granted, no licensed moneylender can legitimately approve a loan without this process, regardless of your credit history. If a lender offers you approval without asking for any documentation, that’s a warning sign, not a convenience, and worth reporting to the Registry of Moneylenders.
The maximum you may borrow at any time, across all licensed moneylenders in Singapore combined, depends on your annual income and residency status, as shown below, your credit score doesn’t factor into this cap.
Not sure what your monthly repayments might look like? Try our Loan Calculator to get an estimate before you apply.
| Annual Income | Singapore Citizen and Permanent Resident | Foreigners Residing in Singapore |
|---|---|---|
| Less than $10,000 | $3,000 | $500 |
| $10,000 but less than $20,000 | $3,000 | $3,000 |
| $20,000 and above | 6 times the monthly income | 6 times the monthly income |
These limits apply specifically to unsecured cash loans in Singapore. Here’s what borrowers should keep in mind:
As a licensed moneylender, we are bound by strict limits set by the Ministry of Law. Here is what applies to your loan:
If a past financial setback is part of why you’re exploring this option, it’s worth taking extra care before taking on new debt. Only borrow an amount you’re confident you can repay alongside your current commitments, and consider whether a smaller amount than the maximum offered might serve you better.
If your situation feels bigger than one loan can resolve, Credit Counselling Singapore (6225 5227) offers free credit counselling and can help you work through your options, this is a genuinely useful step, not a last resort. Our responsible borrowing checklist is also a good starting point before you apply.
Prepare Your Documents
Submit the necessary documents to verify your information, or apply with Singpass to have your particulars retrieved directly and skip manual uploads.
Are 21 years old or above
Singapore Citizen, PR, or valid Work Pass holder (EP, S Pass, WP)
Steady income, whether full-time, part-time or self-employed
NRIC (for Singaporeans/PRs) or Passport and Work Pass (for foreigners)
1. Last 3 months’ payslips
2. CPF contribution history
3. Income Tax Notice of Assessment
4. Bank statement showing salary crediting
1. Latest utility bill (within 3 months)
2. Tenancy agreement
3. Official letters sent to your home address
Loan Benefits
A fair look at your current situation, not just your credit history.
Your ability to repay today matters more to us than a score reflecting past difficulties.
Every rate and fee is disclosed upfront and capped within Ministry of Law limits, so you always know what you're agreeing to.
We follow the same diligent process for every applicant, so you can trust the process even as we look beyond your credit score.
Real people and real guidance, from your first question through to your final repayment.
Loan Application Process
Apply online first, receive a verification call, visit our licensed office to review and sign the
loan contract, then receive your funds after approval.
Submit your loan application online with your basic details and preferred loan amount.
Our team will contact you to verify your details, understand your loan needs and guide you on the next step.
Visit our licensed office for in-person verification. The loan amount, repayment schedule, interest and fees will be explained before you sign.
Once your loan is approved and the contract is signed, the approved loan amount will be disbursed to you.
What Borrowers Say
See why borrowers trust BST Credit for clear loan terms, helpful service and a smooth application process.
FAQ
Answers to common questions about applying for a loan with a less-than-perfect credit history in Singapore.
Possibly. As a licensed moneylender, we consider your current income and ability to repay, not just your credit bureau score, so a past credit issue doesn’t automatically disqualify you. Every application still goes through proper verification of your income and documents, this doesn’t change regardless of your credit history.
No licensed moneylender can legitimately approve a loan without proper verification, regardless of credit history. If a lender promises approval with no checks at all, that’s a sign to be cautious, not a convenience. We do consider more than your credit score, but we’re still required to verify your income, identity and ability to repay before granting any loan.
The maximum you can borrow depends on your annual income and residency status, not your credit score, and this limit applies across all licensed moneylenders in Singapore combined, not per lender.
Licensed moneylenders in Singapore are regulated by the Ministry of Law to keep borrowing fair and transparent, for every applicant.
To apply with BST Credit, you should be 21 years old or above, be a Singapore Citizen, PR, or valid Work Pass holder (EP, S Pass, WP), and have a steady income, whether from full-time, part-time or self-employed work.
You can check the official Registry of Moneylenders maintained by the Ministry of Law. Always apply only through official websites or verified contact channels to avoid unlicensed lenders. Read our full guide on how to check if a moneylender is licensed for a step-by-step walkthrough.
The Registry of Moneylenders cannot negotiate with lenders on your behalf, as this is a matter of private contract. If you’re facing financial difficulties, you may wish to approach a social service agency for credit counselling and help negotiating a repayment plan, such as Credit Counselling Singapore (6225 5227), which handles cases that also involve bank debts.
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