Being a driver comes with its challenges—long hours on the road, battling fatigue, sleepless nights, and little time to rest, especially if you’re working for extra incentives as a private-hire driver. A driving loan can provide financial support during times when you’re unable to drive or need extra funds to get through a tough month or two.
A PHV/Taxi loan is a personal loan designed to address the financial challenges drivers face in their profession. Whether you’re just starting as a taxi driver or managing ongoing expenses, a taxi loan can help. If you choose to rent a car rather than buy one—which can be more cost-effective as it eliminates the need for COE and a down payment—you’ll still need to cover rental, parking, and petrol costs. This can be tough, especially for new or inexperienced drivers.
At Magnus Credit, we offer PHV/Taxi loans to help drivers bridge any cash shortfalls. Whether you need urgent funds for car repairs after an accident, medical emergencies, or to cover monthly rental and expenses during slow periods with fewer passengers, our PHV/Taxi loan is here to support you.
Simply fill out and submit the 2-minute loan application form or apply with Singpass My Info.
Check your loan status within the next few hours and know the maximum amount and term.
Head to our office, sign the loan agreement then get your funds instantly.
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Apply for the financial support you need in just 2 minutes!
A PHV/Taxi loan is a personal loan tailored to help drivers overcome the financial challenges they encounter in their line of work.
To qualify for this loan, you must meet the following basic requirements:
You will also need to provide the following documents:
The interest rate is determined based on your profile and our risk assessment.
If all documents are complete, approval times in a few minutes. Visit our office for face-to-face verification and get the funds on the spot.
Yes, you can apply for a PHV/Taxi loan with us. We strive to assist all our borrowers, irrespective of their credit scores, which is why we don’t impose specific credit score restrictions.
Repayment terms are flexible and can be tailored to your specific needs, ranging from a few months to several years.
Bank loans usually offer larger amounts and lower interest rates but have stricter eligibility criteria. Licensed moneylenders provide faster approvals and are more lenient with credit scores.
Magnus Credit stands out as a top-tier licensed money lender in Singapore, offering no-collateral business loans with fast approvals, competitive rates, and flexible repayment terms, ensuring a response within 24 hours.
Our efficient and professional loan officers ensure you fully understand your loan terms before signing.
Call us for assistance at 6338 9891 to answer all your queries about a personal loan with us.
Get a real-time estimate of what you get and your monthly loan instalments.
Visit our office and speak to our friendly and professional loan specialists.
Send us your online application which only takes 2 mins.
Get the answers to your enquiries.
