What Are Pay Day Loans?
Pay day loan which is also known as monthly loan is a type of short term unsecured loan that is due for borrower to repay on their next pay day. The loan period for pay day loan is usually around 14-30 days and is perfect for those who incurred unexpected expenses during the month. In this situation, getting a pay day loan (monthly loans) is most practical as you would not want to incur high overdraft fees or late fees on your other bills such as credit card bills.
At Elite Investment & Credit Pte Ltd, our payday loans are highly popular among new customers and our repeated customers. Not only are our interest rates highly competitive, our approval rate for pay day loan is also quick as compared to other financial institutions. In addition, we offer monthly loan in Singapore that is the amount that is equivalent to your whole month income. As part of our due diligence, we will access your employment status once we receive your loan application. Once the monthly loans has been approved by our consultant, all you need to do is provide us a post-dated cheque with the full loan amount plus fees written on it. Then on the repayment date, you just need to repay the loan in person.
What Are Monthly Repayment Loans?
When one borrows a monthly repayment loan, he or she will receive a lump sum amount, which can be really helpful if you need a great amount of cash to pay for something. The monthly repayment loan will help to lighten the immediate financial burden that one has to bear.
Now, with a monthly repayment loan, one is able to pay back that cost monthly.
What If I Am Late For My Monthly Loan Repayment?
If you are late for your monthly loan repayment, this will affect your credit score and this would mean that you may have a lower chance of borrowing credit in the future.
In the event that you feel that the repayment loan amount is too much of a stretch for you, you should consider to extend the loan term period.
Here at Elite Investment & Credit, we offer a competitive monthly repayment loans in Singapore. Feel free to contact our financial advisors for a free quotation and for advice on your financial needs.
Elite Investment & Credit Pte Ltd – your licensed moneylender in Singapore is here to offer the best monthly loan service in Singapore with the lowest interest rates in the market. If you have any questions on our pay day loans (monthly loans), do call us at +65 6744 4466.