Unsecured Loan Singapore With EDUdebt
If you need money urgently to handle an emergency, buy a new car, renovate your home or merge your spiralling debts, an unsecured personal loan can be a useful tool to help you meet your financial obligations. Unlike secured loans, which require you to put up your assets as collateral against the loan amount, unsecured loans do not require any security and are therefore more flexible.
As such, unsecured debt with EDUdebt is often available to people who might not qualify for secured loans due to poor credit history or high debt-to-income ratios (BTI). However, unsecured loans usually come with higher interest rates and shorter loan tenures compared to secured loans as they involve more risk for lenders or banks.
Why Choose EDUdebt for Your Unsecured Loan in Singapore
The Monetary Authority of Singapore (MAS) has set regulations on the maximum BTI ratio of unsecured credit facilities to prevent borrowers from taking on excessive debt. The MAS also places limits on the total outstanding interest-bearing unsecured loan amount that borrowers can take, which is determined by their income level and credit profile.
Whether you need to borrow an unsecured loan to pay for your next big investment or simply consolidate your debts, it is important to choose the right lender and manage the loan responsibly. Licensed moneylenders in Singapore offer a variety of unsecured loans with competitive interest rates and a streamlined application process. Visit EDUdebt to schedule a complimentary consultation today and work towards a better financial future.