Are you in need of an urgent loan in Singapore? Are you looking for the best loan company to borrow from? These questions can be difficult to answer because most people don’t even think about personal loans until they need one.
The answer to securing fast cash in Singapore is actually fairly simple: authorised money lenders. They offer you a simple and quick way to borrow money legally, and safely–but with that said, there are various forms of loans to consider. So keep reading to find out more about securing an urgent loan in Singapore.
You can take a cash advance on your credit card but there is a limit to that also. You can only withdraw around 10% of your credit limit from an ATM and you’ll have to pay interest on the borrowed money. And they charge compound interest that is calculated per day.
This is not ideal for most people as they’d have pay extra to use the cash but this can be your last resort when you need fast cash Singapore.
A loan from the bank
Besides your trusted legal money lenders in Singapore, you can also approach a bank for a personal loan as well. But the drawback is that banks tend to follow a rigorous procedure for the loan application.
They tend to have stricter requirements for approval of a loan request, which often leads to a longer processing and approval period before you get your loan. The repayment tenure needs to be more than 12 months as well. So getting a loan from a bank, though viable, may not be suitable for those who need an urgent loan Singapore.
Well, if you’ve ever been stuck in a situation where you needed the financial help of someone and but can’t ask your family or friends, then you would know the importance of securing fast cash. In that case, authorised money lenders in Singapore are always there to offer assistance.
If you ever find yourself unsure of what to do in a situation where you need an urgent loan, you may approach our Fast Money offices located in Yishun and Tampines, or simply give us a call at our hotlines: (+65) 62244746 (Yishun) and (+65) 62244749 (Tampines).
You can take short term or long term loans with us, and we provide you with these loans in accordance with the rules and regulations set forth by the Ministry of Law (Minlaw).
If your credit score is an area of concern for you, the approaching us for a loan should give you some added peace of mind because we don’t take it into consideration for giving out loans. Instead, we look at your annual income and your history with taking out loans.
To get the loan with us you should prepare the following documents to quicken the process:
For Singapore nationals
- NRIC or passport
- Telephone bill or Singapore power bill
- Payslip of last three months or income tax statement for the 15 months
- For businesses, the income tax statement of the past two years
For a foreign nationals
- Employment pass (original copy)
- Passport (original copy)
- Tenant agreement (if living in an apartment) or phone bill
- Company appointment letter
- Payslip of last three months
- Bank statement of the last three months, for salary proof
Urgent Loans in Singapore
We welcome your questions and are eager to provide you with assistance, so leave us a comment below or give us a call if you have any doubts at all!