It can be embarrassing to need to borrow money from our family and friends but there are instances when we need cash immediately and payday is still weeks away. Spending hard earned cash should be carefully planned, true, but emergencies can interrupt that careful planning. That's what loans from banking companies and lending firms are for. But it normally takes days up to weeks before people can get a loan, which renders the entire emergency loaning thing useless. Fortunately, there's a payday loan type that's gaining popularity nowadays in a lot of countries, including Singapore.
For people who want to apply for loan in Singapore fast, payday loan is the answer. These short-term loans are almost always approved in just a few hours if the applicant has presented few required documents and if the same have been confirmed. People who apply for payday loan are supposed to pay it back in full including interest in 30 days or less, which is on the next payday of the borrower.
But this is not for everybody. Payday loan is only allowed for employed individuals who need emergency cash and who can pay that amount in full plus interest on their pay date. That's why the initial common condition asked of borrowers is to be a full-time worker so they can have the cash to pay them.
The usual papers that Singapore lending firms require for payday loan applications include the loan applicant's National Registration Identity Card (NRIC) and either their most recent computerised monthly payslip or their Central Providence Fund statement (CPF) for 15 months. Self-employed individuals may present their NRIC and their income tax account of two years.
Borrowers don't need to expect a long time for their loan application to be granted as it will only take an average of three hours before their request is granted with the right files. Approval rating is nearly always 100 per cent also. But this short-term loan type has high interest rate. Payday loans usually have higher rates of interest than traditional loans.
To ensure that the borrower would be able to pay the amount plus interest of the loan on their payday, the standard practice set in other countries is to instantly subtract the loan amount from the borrower's bank account on the agreed payment date. But in Singapore, the usual practice is to pay the legal money lender Singapore company in cash on or before the due date.
For people who want to apply for loan in Singapore fast, payday loan is the answer. These short-term loans are almost always approved in just a few hours if the applicant has presented few required documents and if the same have been confirmed. People who apply for payday loan are supposed to pay it back in full including interest in 30 days or less, which is on the next payday of the borrower.
But this is not for everybody. Payday loan is only allowed for employed individuals who need emergency cash and who can pay that amount in full plus interest on their pay date. That's why the initial common condition asked of borrowers is to be a full-time worker so they can have the cash to pay them.
The usual papers that Singapore lending firms require for payday loan applications include the loan applicant's National Registration Identity Card (NRIC) and either their most recent computerised monthly payslip or their Central Providence Fund statement (CPF) for 15 months. Self-employed individuals may present their NRIC and their income tax account of two years.
Borrowers don't need to expect a long time for their loan application to be granted as it will only take an average of three hours before their request is granted with the right files. Approval rating is nearly always 100 per cent also. But this short-term loan type has high interest rate. Payday loans usually have higher rates of interest than traditional loans.
To ensure that the borrower would be able to pay the amount plus interest of the loan on their payday, the standard practice set in other countries is to instantly subtract the loan amount from the borrower's bank account on the agreed payment date. But in Singapore, the usual practice is to pay the legal money lender Singapore company in cash on or before the due date.
Ditulis oleh:
Unknown - Sunday, October 28, 2012
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Hello Everybody,
ReplyDeleteMy name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.