3 Great Uses for Short Term Loans

It is always good to have more money in your pocket, especially in this society where things are getting more and more expensive. Fortunately for us, there exist loans, which we can undertake from various channels, be it through the bank, or through moneylenders. In this article, we will be discussing 3 great uses for short term loans.

  1. Taxes
    • The inevitable expense that everyone has to pay every year, a great use of your loan is to use it to pay your taxes. This helps you to be able to ensure that you will always be ahead of paying your taxes.
  2. Moving
    • Another great way to use your loan is when you are moving, be it to help with house renovations or the actual moving process, a short term loan is a perfect thing to help you out financially.
  3. Medical
    • Our health is a very finicky thing, and sometimes we are unable to predict when we might encounter any medical emergencies, be it ourselves or our loved ones. A short term loan helps a lot, especially if the medical bill is a little more than you can handle.

Where should I borrow from?

We recommend Fast Money, one of Singapore’s best licensed moneylenders. Not only does Fast Money give you a peace of mind and security when you take a loan from them, but they also boast one of the lowest interest rates in Singapore. Additionally, Fast Money stays true to their namesake, ensuring that you get your cash as soon as possible.

How do I borrow?

The process for borrowing is simple, with the first step being to come down to the Fast Money office in person to find the best terms and loans for you. Remember to bring the following:

  • your NRIC or Passport number
  • your phone bill or Singapore power service bill
  • your latest 3 months computerised monthly payslip or 15 months CPF statement or Income Tax Statement
  • or for self-employed individuals, your past 2 years income tax statements

For foreigners:

  • your original valid employment pass
  • your original passport
  • your tenancy agreement for your rental premise, PUB bill or handphone bill
  • Appointment letter from your company
  • latest 3 months payslip
  • bank statement- for proof of your company crediting your salary

These are all relevant documents needed for the approval of your loan.

After determining the best loan for you, all you will need to do is to simply fill in the relevant forms and you can go to claim your loan after that.

There are some eligibility requirements, however, so please do ensure that:

  • You are a Singaporean, Permanent Resident or a Foreigner with a valid Singapore Employment Pass
  • Be above 21 years old
  • Be a full time employed personnel

For more information about Fast Money, call our friendly hotline at +6562244746 for the Yishun branch and +6562244749 for the Tampines branch.