Who are eligible to apply for OT Credit Loan?
To be eligible, you must be at least 18 years old or below 65 years old upon submission of the required documents. Foreigners who want to apply for a loan have to be employed in Singapore to be eligible.

Where do I apply for a loan?
Fill up the online application form and hit the send button. OT Credit will call you or send you an email regarding the next steps that you have to follow. Click here to apply.

Is there are limit as to the amount that I can borrow?
Your monthly income will determine up to how much you can borrow.

Do I have to pay anything when I apply for a loan?
No. Our loan application is free of charge.

I am worried that my bad credit would affect my loan application.
There is nothing to worry about. In approving your loan, OT Credit does not consider your credit history.

How much are the interest rates?
We have the most competitive rates when it comes to loans. The rates will be based on the type of loan that you are applying. It is also affected by the length of time that you will have to pay your loan. Once we receive your application form, our loan specialists will get in touch with you to give you more details about the loan that we offer.

What documents should I submit when applying for a loan?
For Singaporean / PR securing personal loans:

  • NRIC
  • Last three months’ salary slip for salaried workers
  • Income tax assessments for the last two years for self-employed workers
  • PUB bill or any document to show proof of residence
  • Tenancy agreement
  • CPF contribution statement

For foreigners who want to avail of foreigner loans:

  • Last three months’ pay slip
  • Employment pass
  • Passport
  • Tenancy agreement
  • Letter of appointment from your company
  • Statement of bank accounts where salary is deposited
  • Proof of oversea residence address

For business owners applying for business loans:

  • Most recent ACRA print out
  • NRIC/ID/Passport and Work Pass of all directors and shareholders if a corporation. For individual business owners, NRIC/ID of the business owner
  • Income tax statement
  • PUB Bill
  • Company tenancy agreement
  • Financial statement if corporated more than a year

Do I have to come to your office in order to get the loan proceeds?
You may email or fax us the documents. Once your loan is approved than you have to visit our office to sign for the loan contract.

What are the payment terms for the loan?
Weekly, bi-weekly, or monthly terms are available. Depending on your financial capacity, we can arrange the type of payment suitable and friendly to the borrower.

Payments will be deducted directly from your nominated bank account. All you have to do is to arrange with us for GIRO payments. However, if you want cash payments, you can also make arrangements regarding this.

What will happen if I was not able to pay my loan on due date?
Late payment charges will be applied to your dues. If this will happen again, arrange with our loan specialists the best repayment option to avoid further charges.

For how long would the loan be paid?
Payment terms are designed from six months to 2 years.

Do I incur penalties if I want to repay my loan already?
We do not charge you in case you want to make early repayment of your loan. On the other hand, we may grant you interest rebates if you decide to pay early.

Can I reject an approved loan?
Yes, as long as you have not signed any document, you can reject an approved loan without incurring any liability or penalty.

After I paid off my loan, can I apply for another loan?
Yes. We will have to re-evaluate your eligibility as of the time of your application for the second loan. Click here for eligibility requirements.

What if I still have an existing loan, can I apply for another loan?
Yes. If you are still in need of funds, contact us and we will evaluate your existing records to determine your eligibility.

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