Many Singaporeans that need fast cash or immediate cash have turned to several loan providers such as the banks, licensed money lenders and even pawnshops in Singapore. In an event of an emergency, many Singaporeans and PRs that have a bad credit history are left with wondering where else can they get an instant loan in Singapore that has a quick and instant loan approval process.
Here are some of the common reasons why Singaporeans are seeking for an instant loan in Singapore:
– Sudden business losses and debt
– Unforeseen accidents
– Accumulation of debt
– Several bill charges that need to be payed off
– Funding required for a business project or operation
– Planning for a holiday trip
If you do fall into one of these categories and you are desperately need the cash, you should actually consider getting the help of a licensed money lender that has an instant loan approval process in Singapore. Borrowing a loan from a licensed money lender has many benefits that separate itself from a bank or a pawnshop. Besides, where else can you safely get an instant loan approval in Singapore?
Here are some of the advantages of getting an instant loan in Singapore from a licensed money lender:
– They do not have an extremely strict criteria for loan seekers
– Low fixed interest rates
– Flexible short term loans compared to banks
– No collateral needed
– You can expect fast cash disbursement from them
– Many flexible loan offerings to PRs and foreigners
– Many fast instant loans packages available for you
Banks are only willing to offer you their loans if you have a good track record. In addition, the loan process is tedious and long, where they would require you to fill up a long list of documents before processing your loan. And even they have provided a good service to you, they have many terms and conditions that you would need to follow which are strict and at times frustrating. Moreover, do expect big collaterals if you are unable to pay their loans back or if you are not in time for paying their loans. For pawnshops, you would also need to prepared to provide collaterals such as your valuables if not you would not be able to qualify to apply for a loan from them.
Still looking for the lowest interest rate personal loan or a suitable monthly repayment loan in Singapore? Why not call our experts today? Here, our experts are more than willing to educate you on the various loan products as well as to give you a non-obligatory quote on an instant loan in Singapore that is suitable for you.
In conclusion, if you are still looking for an instant loan provider in Singapore, here are some quick tips to spot if illegal moneylenders in Singapore.
– If they are not listed in the list of licensed moneylenders in Singapore:
– If you observe that they are carrying out suspicious activity such as making it compulsory to retain your NRIC card and personal documents
– If they are granting you loan packages with unreasonable deals and without any diligent processing
– If they are advertising through mediums that are not permitted by the Singapore government: E.g. through SMS.