Many people don’t think about quick cash loans until they urgently need one. How can you get a fast cash loan Singapore when the need arises without having to endure the lengthy approval process?
Here’s a look at 3 ways you could get Singapore fast cash loan. But note that any loan that is issued on a short-term basis will typically charge higher rates. Therefore, ensure you can pay back the monthly installments before getting a loan.
This service is offered by most issuers of credit card and allows cardholders to access cash, either over the counter or through an ATM using their credit cards. This cash loan option limits the amount you may withdraw often a percentage of the card limit. It typically attracts a 3-5% fee on the amount you borrow. Also, the interest compounds from the day you borrow the cash.
Personal Bank Loan
Banks issue this loan, but they have specific criteria that you should fulfill for the Singapore fast cash loan to get approved. One common criterion for eligibility includes being 21 years old or more and having an annual minimum income of $20,000. You should also have a credit score that’s impressive to convince the bank to give you a loan.
Fast Cash by Legal Money Lender
You can also get a fast cash loan Singapore by working with a legal money lender. Legal moneylenders are a good alternative to bank loans as most don’t require that you commit for long periods. Their approval process is much faster because they do not put much consideration on your credit score for you to qualify for a loan.