How to Apply For a Payday Loan in Singapore

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Payday loans Singapore are a good option if you need a quick amount of cash. It is very easy to get approved, and you don't have to worry about your credit score. The best part is that you can get a payday loan in Singapore with low interest rates. Payday loans are also flexible when it comes to repayment terms, so you can plan your repayment schedule accordingly.
A payday loan is an unsecured loan that you can use to meet your monthly expenses until your next paycheck. Most money lenders in Singapore can process your online application within an hour and disburse the funds on the same day. Because they don't check your credit, you're less likely to experience any credit problems.
To apply for a payday loan in Singapore, you'll need to show some proof of your income. Usually, you need to have a monthly income of at least S$1,500. Some money lenders will require a letter of employment, as well. If you're a foreigner, you'll also need to provide your NRIC, proof of residential address, and employment letter. Depending on your situation, you may also need to meet certain minimum income requirements.
In Singapore, you can also apply for a personal loan. Personal loans are usually cheaper than payday loans. You should be able to qualify for a personal loan if you make at least S$30,000 per year. However, some banks will grant loans to people with less than that amount. Moreover, these types of loans come with low interest rates and a small amount of fees. As a result, these loans are a good option for individuals with bad credit or a low monthly income.
You should check the licensing of moneylenders in Singapore to avoid scams. Unlicensed moneylenders are likely to charge excessive interest rates, levy unreasonable handling fees, and disappear without paying you. The Ministry of Law has a list of registered moneylenders in Singapore. Capital Funds Investment is one of these licensed moneylenders and grants payday loans to customers.
Payday loans are fast and easy to get. All you need to do is provide some basic information and wait for approval. Once approved, you'll be able to get the money you need in the shortest time possible. You can also choose between three different repayment options. The first option is the 1-month option, and will require you to pay back the loan on the 6th of the month. The other option is the three-month option, which allows you to split the loan into three installments.
Another option for payday loans is to borrow cash online. Online payday lenders offer 24-hour customer service. You can get approval for your loan within a day or two. This option can be beneficial if you don't have much time to spare.

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