How to get the best personal loan rates in Singapore?

You could be in need of some money but asking your friends and family might get you awkward, then you are left with another option of going to the bank and getting yourself a personal loan.

But before going to the bank and applying to get the best personal loan rates in Singapore, here are a few things that you need to keep in mind which include:

  • A term loan is known as the fixed sum of money with a fixed plan for the payment, which you need to abide by before you get your cash. These are advisable since you can pay them back slowly and you also pay a lower rate of interest.
  • There is also something called as a personal line of credit which is the approved amount of the money which can be cashed out as a part or as a whole. But the drawback in this is that you need to repay these as soon as possible if not then you will have to pay a very high rate of interest.
  • The usual tenure of the loan will be from 1 to 7 years and you will have to see how to work on this tenure and be committed to it too. You should go in for the shortest tenure in which you can minimize your interest but don’t get over worked up and see that your monthly instalment is within your zone of comfort.

Get the best personal loan rates in Singapore at:

  • Citi Ready Credit Paylite: if you plan on borrowing a larger amount, you need lower rates of interest when repaying them. Citi is offering lowest rates of interest on personal loans in Singapore. If you are a new customer then applying for a loan with this bank with a 3 year loan will give you an interest rate of 4.27% per annum. The eligibility for this loan is that you must be a resident of Singapore or PR at least 21 years of age and your annual income has to be at least S$30,000.
  • HSBC Personal Loan: this provides a rate of interest of 3.70% for a 3 year loan period. The HSBC Personal Loan offers the longest tenor on the loan in the market. You can also spread your payments for over up to 7 years. In order to be eligible for this loan you will have to be a Singaporean and will have to at least have an annual income of S$30,000. The maximum amount that can be borrowed by you is capped at 4 times your monthly income.
  • CIMB Cash Lite Personal Instalment Loan: this offers you a personal instalment loan with good rates of interest. The low rate of interest is being offered depending on your credit rating. But if you have been paying your bills on a regular basis and keeping your unsecured balances low this could add as a plus point for you and just help you qualify for the lowest interest rate. In order to be eligible for this loan plan you will have to be at least of the age of 21 and with an annual income of S$30,000.

What are the important documents you will need while applying for a loan? Along with your personal loan application form you will have to provide some more documents which will include the following:

  • The proof of your income
  • Your address proof documents
  • Your proof of identity documents
  • The certified copies of license or a degree

Here are a few terms involved in the loan system:

  • Part payment: this is regarded to the amount which is less than the full loan principal amount is mostly done before the due of the loan amount.
  • Pre payment: this pre payment amount may not necessarily be equal to the amount which is due. Pre payment is when you pay your loan in a part before it gets due according to the EMI system.
  • Pre closure payment: this is when you completely pay off your personal loan before the loan tenure has ended.

Mentioned below are a few benefits of personal loans:

  • No end use limitations: the personal loan can be used for any purpose at all, there are no hard rules for its use. Personal loans seem to be the easiest way to get cash when you are in need of it.
  • There is fast and easy disbursal: if you fulfil the criteria that is required and your credit score is good too, then you can even avail your personal loan in the time period of 72 hours. Some of the banks also provide the online facility of approval of the personal loans.
  • Collateral is not needed: it being an unsecured loan it is very easy to get it and there is no need for any collateral.
  • The benefit of the tax: you can avail the tax deduction if you are using the personal loan money for renovation of the house, or for the construction. But you will also have to provide the necessary documents which will prove that you are using that money for the mentioned purpose itself.
  • Fixed interest rate: personal is made available based on a fixed of interest that will remain consistent for the entire loan tenure and there is no need to worry that the rate of interest will change.
  • You can choose the tenure: the loan tenure will go up to 7 years and hence you can choose which tenure will be suitable for you. The longer the tenure the lower will be the EMI and vice versa.
  • Helps in boosting your credit score: the types of accounts that you have used, this helps in counting towards your credit score.

What is the benefit of a personal loan over a credit card loan?

In a credit card loan you will be able to avail it on your card but this loan will be applicable only on certain cards and if you want a loan on it you will have to approach the card issuer but while considering a personal loan any lender of your choice can be approached to.

Single Malt whiskey

Are you a worshipper of Bacchus? Are you one who is very selective about the drinks offered to you and you go for only the finest of the drinks? If, yes, then single malt whiskey is just for you. You won’t get any other drink in the world that is a higher honor to your taste buds and to the connoisseur inside of you. Therefore, if you are thinking of which whiskey to taste next, then go for the single malt whiskey. However, it is easier said than done. You must know of the details of such a whiskey and here we are with the required details.

What is single malt whiskey?

The single malt whiskey offers the maximum depth and the widest variety of flavor. This is surprising especially when it is told to people that this kind of whiskey is prepared only from water, yeast and barley. This type of whiskey is quite popular as it has to be made at just one single distillery and has to be aged more than 3 years for it to acquire its taste, magic and charm. You can yourself imagine the influence that this kind of whiskey can have on you once you consume it.

The Highland and the Lowland whiskey

The whiskey is of two types, Highland and Lowland. The Highland whiskey is said to be more on the nutty side and to be stronger of the two. However, the Lowland whiskey is on the opposite side and is therefore, said to be good for the Lowland ladies. But whatever the differences may be, you will simply fall in love with both the kinds of whiskeys. A whiskey matured for more than 3 years will have an impact that no other kind of drink can match. This is certainly a drink for the elites.

Benefits of single malt whiskey

The single malt whiskey has its own set of advantages over the other drinks. When it comes to making a wise choice, most people go with this type for the following reasons.

The drink is much like champagne and this is why the elite people like it a lot. It is perfect for celebration times and makes a wonderful companion for the good times. Even if you want to enjoy your success alone by spending some quality time with yourself or just with a few close ones, this whiskey will be a perfect partner for you.

Whiskeys have been known to aid in digestion as well. Therefore, if you want to have a drink that does not disturb your digestion process, then single malt is something to go for.

This drink is also known to have more ellagic acid than red wine which supplies more antioxidants to your body. The health benefits that you get can not be hard to imagine.

Moderate consumption of single malt whiskey has shown to reduce the risk of strokes in people. Therefore, a little bit of this whiskey every night can help you remain fit and close to your dear ones for a longer duration. Moreover, moderate consumption also benefits the heart and the blood vessels of your body, and can also prevent common cold.

Brands of single malt whiskeys

The most famous brands of the single malt whiskey are quite renowned the world over and a simple search online will also give you the correct results. Still, for your convenience, here we have the famous brands listed down. The list is in no specific order and the taste of one whiskey is always different from the other. So, we suggest that you try all of them whenever occasion arises and give yourself and your close ones a gala time together. Let’s get started with the famous brands of this type of whiskey.

Speyburn

The company founded by John Hopkins and Co in 1897 is one of the best brands of the single malt whiskey. The bottles of the whiskey look quite elegant and the taste is something that many distilleries and manufacturers of whiskey envy. The mal whiskey that you will get here has been aged around 10 years and thus, you can imagine the dance of taste on the buds of your tongue. If Bacchus had to choose one whiskey brand on the earth, there are high chances that it would have been none other than Speyburn. So, it is time for you too to go and have a taste of it.

Heart of Speyside by BenRiach

BenRiach is another huge brand that has made its name in the whiskey industry. The Heart of Speyside is one of the most exotic single malt whiskeys ever made on the planet. The distillery of this whiskey is just outside Elgin and you will get whiskeys that have aged for 10 years, 8 years, 5 years and 4 years. This ensures that the quality that you get in your hands and on your taste-buds is just awesome. So, this can be the next brand that you are getting on the next special occasion at home.

Birnie Moss (intensely Peated) by BenRiach

The list of the most amazing single malt whiskeys by BenRiach has still not ended. Named after the bog, Birnie Moss, this is intensely peated whiskey which looks extremely elegant in a glass bottle. The golden colored drink when poured into a glass looks like the most heavenly nectar having come directly from the blissful sky. The next celebration at your home will be far better than it ever has been if you get this drink in the party. Just see the smiles and excitement on the faces of the guests that evening.

Project XX by Glenfiddich

The last in our list today is Project XX, which is an experimental series by Glenfiddich. Around 20 ambassadors have chosen this one as their favorite single malt whiskey. No wonder, it comes in a dark bottle and adds enigma to any celebration it is a part of.

Get these brands to your home and office next time whenever there is a celebration. Your opulence will spread far and wide for sure.