Fast Cash Personal Loans for Indian Expats & Foreign Workers

Financial help for all emergencies and situations you may have.

What are Personal Loans?

Personal loans are unsecured loans that can be taken by qualified applicants for personal uses. In life, there will definitely be emergencies or occasions that needs some extra funds. Personal loans provide cash for such emergencies and needs. These loans are commonly taken in Singapore because it provides great flexibility and does not require any collateral. Generally, personal loans by banks and financial institutions offer lower interest rates (as low as 4% per annum) as compared to credit card loans (22% to 28% per annum). DakoNorth offers personal loans to both Singaporeans and foreigners as long as they are above 21 years old and have a source of income. Our personal loans are for Indian expats, work permit holders, S Pass holders, E Pass holders and non-residents. Foreigners are welcome to apply for our low interest personal loans with fast approval within 24 hours. 

 

Up to 10x

Borrow Up To 10x Your Monthly Income

Fast Approval

Get Cash Within 24 Hours*

100% Reliable

Licensed Moneylender

Unsecured Loans

No Collateral Needed For The Loans

Personalized Service

Our Consultants Are Here To Hear You Out​

Affordable Interest Rates

Lower Rates Than Other Financial Institutions

Flexible Repayment

Choose Loan Tenures from 12 to 60 Months

Privacy Guaranteed

You Can Trust Us With Your Information

What You Can Use A Personal Loan For

Certain banks and moneylenders restrict the uses of loans. That means that they only allow borrowers to use the funds for the specific applied reason. An example would be a home loan, where the money can only be used to pay for the house. For personal loans, applicants are given much more privacy and flexibility. If you are a foreigner or a work permit holder, it may be harder to get a loan from banks. Not to worry, DakoNorth offers cash loans for foreigners in Singapore, E Pass holders and S Pass holders. You can use the funds for any reasons. You may use the urgent foreigner loans for any emergencies. 

While most banks and moneylenders restrict the uses of their loans, DakoNorth provides multi-purpose loans for all foreigners, Indian expats and work permit holders. Applicants can use the funds for any form of emergencies. You can use the money to pay bills, make purchases, send money back home or for vacations and special occasions. We offer fast approval loans at low interest rates. Whether you are an S Pass holder or an E Pass holder, DakoNorth is here to lend you a hand. 

Financial Emergencies

Medical and Dental Bills

Wedding Expenses

Car Maintenance

Funeral Expenses

Moving Expenses

Vacations and holiday trips

Special Occasions and Festivals

Consolidating Credit Card Debts

DakoNorth Offers High Approval Rate For Everyone

There may be times when we need funds urgently. Most of the banks in Singapore have long application process, numerous forms to fill and at the end, they may not even approve of the loan.

Stop frowning. DakoNorth understands the needs of all applicants. We offer Fast Personal Loan with high approval rate and easy application process, and should all documents be received, applicants will be able to receive the cash within hours! Also, no matter which situation you might be in, DakoNorth’s friendly financial consultants will be willing to hear you out.

6 Questions to Ask Yourself Before Getting a Loan

1. How much money do I need to borrow?

Considering that one will have to pay back the principal amount plus interest, as well as other costs associated with the loan, it is important to make sure that one only takes the money that he or she needs and no more. This means that even if one qualifies for a larger loan amount, it does not mean that they have to borrow the full sum. If one takes on a loan that is more than what they need, he or she could end up adding even more expenses to their monthly budget that eats up the money which could be used for other more important things. 

 

2. What is this loan for? Why am I taking one?

This is a critical element. Taking a loan on impulse for unhealthy ideas such as gambling is not very wise for someone who is particularly cash strapped. It is more prudent to use the amount that you already have for such purposes. Loans are best used for emergencies or for special projects and occasions. It could be taken for a medical emergency or taken to fund a money-making business venture. 

3. Are the payments affordable?

Before taking on a loan, one must count the costs. This means looking at how future purchases will be limited by this loan and how the individual’s monthly budget will be affected. Paying off a loan can limit one’s ability to save more money fast, go on vacations or take on other loans, particularly if they have almost maxed out their total debt to income ratio (TDSR) threshold. When one’s TDSR is close to or at the maximum amount (60% of gross income), banks or financial institutions will unlikely approve of the loan. Ideally, one should keep their TDSR below 25% or 35% inclusive of mortgage. Keep your TDSR as low as possible, especially if one is planning to purchase a big-ticket item any time soon.

4. Are the terms of the loan agreement suitable for you?

The truth is that not every loan is ideal. One should always review the terms of the agreement and ensure that the del is a win for him or her. Important things to note are the methods of payment, payment dates, late payment charges and other penalties when the loan matures or if there are extra fees for early repayment and the like. Interest rate should definitely be one of the top considerations.

Note that loans can be either secured or unsecured loans. If it is a secured loan, the debtor will be required to provide collateral (such as a car or property). If the loan is unsecured, the borrower’s credit rating will be a big factor in determining if he or she will get the loan as there are no forms of security. Interest rates for secured loans tend to be lower because the collateral and assets can be sold to recover the money if the person defaults.

Nonetheless, it may be possible to negotiate various clauses in the agreement so that adjustments can be made. This varies between different lenders and how willing they are to help and understand the borrowers. DakoNorth offers unsecured personal loans to interested parties that may be approved within hours should all the required documents be submitted.

5. Are the payment options flexible?

Depending on how one receives their income, it may be prudent to consider a lender who offers flexible repayment options. That way, it lowers the chance of borrowers missing payment deadlines which can ruin his or her credit ratings. Additionally, the borrower may incur extra late payment fees and fines which affects their monthly budget. In some cases, the collateral may even be repossessed or foreclosed.

6. What if I am unable to pay the loan off?

In the even that there is a substantial loss of income, retrenchment (hopefully not), paying off the loan may become impossible. There will be pressure to find other work emergently and late or missed payments may end up reflecting poorly on one’s credit score. It will be wise to consider what they can do and how they will pay off the loan in the event that they do not have an income. This should caution someone taking a loan to ensure that it is only for necessary items and to keep their TDSR low.

Should any event arise, one should always be open and be comfortable with speaking to their loan financial consultants. Share with them your thoughts and there may be alternatives or solutions to help.

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