Loan that Horizon Cash offer

Personal Loan

What is personal loan?

A personal loan is an amount of money you can borrow to use for a variety of purposes. For instance, you may use a personal loan to consolidate debt, pay for home renovations, or plan a dream wedding. A personal loan allows you to borrow money to pay for personal expenses and then repay those funds over time. Personal loans are a type of installment debt.

Personal loans can be a good solution for individuals with financial issues that need to be resolved instantly, such as debt consolidation and refinancing a loan. It also enables huge purchases and repayments at your own pace.

FAQ for personal loan

  • For personal loans the minimum criteria are

    - Age between 21-65 years
    - Salary above $25000
    - You must be a Singaporean with a salary, a PR, or an EP holder

  • You can get a personal loan of up to x6 of your monthly salary.

  • The interest rate of the loan depends on how strong your documents are, if documents are strong enough the interest can get to as low as 1%.

Payday Loan

What is payday loan?

Pay day loan is a loan represents a kind of short-term borrowing. When people decide to borrow money with a payday advance, it means they want to cover an emergency expense. Furthermore, these are becoming an increasingly popular option for people who need money fast. Do not worry about scary interest for payday loan with us as Horizon Cash capped the interest at 1% for payday loans.

FAQ for payday loan

  • For payday loan minimum criteria are

    - 18 years old and above
    - Salary of $1800 and above
    - Singaporeans/PRs/foreigners
    - Must be employed in the current company for at least 1 year

  • If your annual income is below $20000 you are only eligible to take up to $3000 max. If your annual income is above $20000 you can take up to x6 of your monthly income.

    For foreigners working in Singapore would only be able to loan up to $500 with us if you are earning less than $10,00 a year. If your annual income is above $10,000 but less than $20,000, you would be able to loan up to $3,000 with us. If your annual income is $20,000 and above, you would be able to loan up to six times of your monthly income.

  • The interest rates for payday loan is 1% here at Horizon Cash

Business Loan

What is SME loan?

SME Loans in Singapore are intended to help small local enterprises and start-ups gain easy access to financing. They can be used for funding working capital or buying fixed assets like commercial properties or machinery. Entrepreneurs in Singapore may also tap on the Government Assistance Scheme which offers a suite of financing products to help small businesses thrive in a competitive market.

FAQ for SME loan

  • For SME loan the minimum criteria are

    -You need to be the company director

    -You are a Singaporean or Singapore PR

    -For Private Limited (Pte. Ltd.) and Limited (Ltd.) registered companies only

    - Business must be 6 months old

    - No more than 10 employees or annual turnover not exceeding S$1 million

  • You may borrow up to SGD 1 million for Invoice Financing, up to SGD 150k for Working Capital Financing, and up to SGD 120k for Purchase Order Financing. Loan amount, interest rates, and disbursement fee for any finance or loan request may vary and is subject to assessment by Validus Capital.

  • The interest rate for SME loan is 7%-8% per annum.

Debt consolidation plan

What is debt consolidation plan?

Debt Consolidation Plan (DCP) is a debt refinancing programme that offers individuals to consolidate unsecured credit facilities (such as credit cards and some types of unsecured loans) across multiple financial institutions in Singapore with one financial institution.

FAQ for Debt Consolidation Plan

  • To be eligible for DCP, you must:

    be a Singapore Citizen or Permanent Resident;

    earn between S$20,000* and below S$120,000 per annum with Net Personal Assets of less than $2 million**; and

    have total interest-bearing unsecured debt on all credit cards and unsecured credit facilities with financial institutions in Singapore that exceeds 12 times of your monthly income

    * As the DCP is a commercial product, all offers received by applicants who meet the stated income criteria are subject to the assessments of individual FIs

    ** The term "Net Personal Assets" refers to the total value of the individual's assets less his liabilities. Assets should be substantiated by documents provided by the applicant.

  • The DCP amount is equivalent to the total outstanding balance - including interest and any other fees and/or charges accruing on your statement accounts - plus an additional ≤5% allowance over and above the total DCP amount for your first DCP loan.

    If the approved DCP amount is insufficient to repay the outstanding balance on your existing unsecured credit facilities in full, you will remain responsible for settling the shortfall directly with the financial institutions concerned.

  • The effective interest rate (EIR) of loan products on our site range from 7.70% p.a. to up to 11.08% p.a. The EIR of your loan will be dependent on the loan you apply for as well as your personal financial needs. For example, you would need to pay S$311/month for a S$10,000 Debt Consolidation Plan with a loan tenure of 3 years at 3.98%pa Interest Rate (7.70% EIR). This would equate to a total payment of S$11,393 over 3 years. Please view each Debt Consolidation Plan product in detail for a full breakdown of the interest rate chargeable, minimum and maximum loan tenure as well as processing fees (if applicable).

  • 1) Credit card loans
    2) Student loans
    3) Renovation loans
    4) Multiple personal loans
    5) Joint accounts