You are currently viewing Is Opal a financial institution? 

Is Opal a financial institution? 

Opal isn’t always a financial institution. We are a Fintech organization certified with the aid of using the Monetary Authority Singapore (MAS) as a Major Payment Institution (MPI) for Cross border settlements. We are diagnosed with comparable equivalence to a financial institution for all fee purposes, primarily based totally in Singapore with clean get right of entry to / from maximum jurisdictions.

Will my cash be safe?

Yes, you can go to opal finance for follows strict regulations set with the aid of using the law (Payment offerings Act) in Singapore. We have consumer safety measures applied to safeguard & defend 100% of our customer’s finances. Your finances are stored strictly segregated in accept as true with account with a Tier-1 associate financial institution that’s safeguarded.

What are they to be had financing options?

If you’re inquisitive about acquiring financing answers with Opal, you may check in your hobby here.

  • Micro or small Loan
  • Loan for Business Term
  • Facility revolving credit 
  • Finance invoice

Is there a most mortgage quantity that I can request?

  • Micro or small loan – Up to S100,000
  • Loan for Business Term– Up to $2 million
  • Facility revolving credit – Up to $1 million
  • Finance invoice– Up to $1 million

How lengthy can a mortgage tenor be?

  • Micro Loan – 1 to twelve Months
  • Business Term Loan – 1 to twelve Months
  • Revolving Credit Facility – Up to one hundred twenty Day
  • Invoice Financing – Up to one hundred twenty Days

There are presently no processing prices which might be payable to Opal whilst making use of for the loans.

What are the eligibility standards for making use of for financing?

  1. Business Term Loan
  • Singapore registered business
  • Minimum 30% shareholding with the aid of using a Singaporean Citizen or Permanent Resident Director
  • 2 year minimal working history
  • Minimum annual turnover of $300,000 SGD
  1. Invoice Financing
  • Singapore registered business
  • Minimum 30% shareholding with the aid of using a Singaporean Citizen or Permanent Resident Director
  • 6 months minimal working history
  • Minimum annual turnover of $300,000 SGD
  1. Micro Loans
  • Singapore registered business
  • Minimum 30% shareholding with the aid of using a Singaporean Citizen or Permanent Resident Director
  • 6 months minimal working history
  • Minimum annual turnover of $300,000 SGD
  1. Revolving Credit Facility
  • Singapore registered business
  • Minimum 30% shareholding with the aid of using a Singaporean Citizen or Permanent Resident Director
  • 6 months minimal working history