When you need cash quickly, a personal loan is one of the best options. These loans are available from banks and licensed moneylenders. However, not all moneylenders offer the same rates and terms. Some even have hidden fees that can increase the cost of the loan. To avoid these problems, it’s important to compare the market using a service such as Moneylender Review.
If you’re looking for a cash loan singapore, make sure to choose a trusted licensed moneylender that has a good reputation in the community. They should also have low interest rates and a quick approval process. In addition, they should be transparent about their lending practices and have a clear set of terms and conditions.
While the credit requirements for a cash loan are less stringent than for a personal loan, you will still need to show proof of income and residency. Additionally, you may need a co-signer to sign the application with you. This is a sign of reliability and is likely to make the lender more confident in your ability to repay the debt.
To qualify for a cash loan, you must be a Singapore citizen or permanent resident with a minimum annual income of $2,000 (for foreigners, this requirement is higher). You will also need to provide recent pay slips and bank statements. Lastly, you’ll need to submit identification documents and be present at the in-person verification appointment. In addition, reputable money lenders will often have high customer ratings and reviews on Google or other consumer review sites.