Cash loans are great things to take when you are in need of a little extra money. This is why it is important to find the best place to get a cash loan. However, ‘best’ is a very subjective term, as not everyone will agree when something is supposedly the best, but when a majority of the people agree that something is good, that is when something can be deemed with the moniker ‘best’. This also holds true for moneylenders in Singapore, where certain factors will determine how good the moneylender is. Introducing Fast Money, a licensed moneylender that is truly one of the best in their field. In this article, we will look at the factors that determine a good moneylender and how Fast Money fits the bill and places the money where their mouth is, literally.
They are licensed with the government
Having a license is an extremely important factor for a moneylender as the unlicensed moneylenders tend to be the reason why the name ‘moneylender’ tends to have a bad reputation. However, licensed moneylenders are very different from their unlicensed counterparts, and in most cases can even benefit you.
They have one of the lowest interest rates in Singapore
Every moneylender has their own interest rates and fees, and obviously having a lower interest rate is vital when we look at how good a moneylender is. Fast Money is one of the best in this category, boasting one of the lowest interest rates in Singapore.
They have one of the shortest processing times in Singapore
A stark contrast from banks, moneylenders tend to have a short or almost instant processing time, getting you to your cash as soon as possible. Fast Money, true to their namesake, also excels in this category, with their fast cash loans being given to you instantly after you go down to their office.
So, what is their borrowing process?
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
-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, go to fastmoney.com.sg or call our friendly hotline at +6562244746 for the Yishun branch and +6562244749 for the Tampines branch.