The world continues to evolve, so does our needs.
From basic needs like clothes, food, and shelter, we also need money to live a life.
How about you?
Are you living or barely surviving?
Do you still fear that a financial emergency will pull you away from your financial goals?
We tend to ask for help from family and friends for financial support. But how many of us are really willing to let people know that we are struggling financially?
Good thing, the money lending industry in Singapore is highly competitive. You can get an instant cash loan for your financial trouble.
Look for the licensed money lenders in Singapore like Cash Mart. Try out their best instant cash loan.
Where Can I Get an Instant Cash Loan in Singapore?
Need quick cash?
There are many money lending facilities to choose from.
Choose a lending institution that will help you recover from the financial problems.
Cash loans are great financial tools only if you get it from the right lenders.
Below is a brief description of the top choices for financial assistance.
Banks are financial institutions that lend money after a stringent process. They avoid high-risk borrowers like plague. That’s why you have to submit a long list of legal documents to get approved.
You get verified to check your financial capability. It is necessary to see if you can repay your instant cash loan on time.
Banks relish information verification that the process takes at least 10 days. This is to check if you are creditworthy. It will take another few days to disburse your funds.
Usually, banks entertain borrowers with existing bank accounts with them. If you want to take an instant cash loan, you’ll need to open an account in the bank. It would take a lot of time and effort before you can proceed with your loan application process.
Also, they limit loan approval for low wage earners. You need proof that you can pay off the loan amount on time without compromising your other financial responsibilities.
Add to that, expats are not usually approved. Mandatory documents are verified. Your positive credit score in the home country will not give any advantage. This ensures that the expat will not runoff from the financial obligation.
Aside from that, banks offer various types of loan products and services. But the minimum loan amount is too high compared to the loans from licensed lenders.
You will be forced to take out a loan higher than what you need.
In terms of tenure, a bank can offer at least 3 years and can be extended to 7 years. Bear in mind that the interest rates may not seem high now. But the interest will add up after a few years.
Pawn Shops are your go-to place for a faster loan transaction. They disburse cash quickly with minimal requirements.
Everyone can visit a pawnshop, as long as you’re not younger than 16 years old. Even expats can get an instant cash loan.
A pawnshop is usually located near MRT stations and connecting bus stations.
If you need an instant cash loan, visit any pawn shop near you. Just make sure you have a valuable item with you. It can be jewellery, a luxury watch or bag. But if you don’t have one, you can’t take out a loan from them.
Aside from your precious possession, you need to present an identification card. Bring a photocopy with you and keep the original. Your foreign friend can also apply. Instruct them to have the employment documents ready like E-pass to get approved in an instant.
Your best instant cash loan from pawnshops can last up to 6 months only.
Typically, its interest rate starts at 1.5%. However, it is topped with another 1.5% every month. It is advisable that you pay off your loan to minimize the interest. If you fail to do so, your valuables are automatically transferred to the pawnshops.
Licensed Money Lenders
The lending industry in Singapore is more appreciated through the presence of licensed money lenders.
Licensed money lenders in Singapore are known for their flexible loans. Singaporeans prefer their various loan products and services. You can apply for the best instant cash loan during an emergency, vacation, gadgets and more.
Also, the low-interest rate is capped at 4%. This is strictly regulated by the Registry of Licensed Money Lenders in Singapore. The compliance of money lending companies set them apart from banks and pawnshops.
In addition, minimum documents are required. Your loan application, loan approval, and cash disbursement can take less than an hour.
On top of that, they have foreigner loans.
Are you a foreigner working in Singapore?
You can take the best instant cash loan from licensed money lenders.
Take note that you don't need any collateral. You don't even need a co-borrower. This way, the requirements are a lot less than traditional loans.
No need to worry about their repayment terms. You can discuss it with your money lender. They have flexible payment schedules. You can choose the one that best suits you.
True enough, licensed money lenders do not only provide financial assistance. They can also help you choose the best repayment term you can meet with ease.
This way you can use the loan as a financial tool rather than just a financial lifeline.
Why Do I Need The Best Instant Cash Loan in Singapore?
The best instant cash loan in Singapore has different purposes.
Why does this matter?
Cash loans are now more flexible. Gone are the days when you use it only for emergencies.
Here are more reasons to get a cash loan in Singapore.
Emergency Medical Bills
They say health is wealth. Therefore, you should have funds for it.
Even if you have insurance, the coverage has limits.
You still need quick cash for your hospital bill and take-home medications.
With your instant cash loan, you can secure your fast health recovery.
Are you an aspiring businessman?
You’ll need more working capital to grow your small business. Also, you’ll need a salary to pay off your hired staff. Aside from that, you need funds for machinery purchases and rental fee.
Are you planning to automate your business?
Extra cash can help you increase your efficiency. If you want to upgrade your system, you need cash for it.
Increase in Utility Bills
There’s no such thing as everything under control.
One way or another, your finances will struggle. It usually happens in your utility bills.
It increases unexpectedly beyond your budget. The due date is nearing but your paycheck won’t make it.
To cover it up, might as well get the best instant cash loan in Singapore.
Second-hand luxury item purchases
Are you contemplating to buy a luxury item?
Is a second-hand of that item suddenly on sale?
You wouldn’t want to pass up the chance right?
Grab the opportunity. Wear the second-hand watch with your instant cash loan.
Don’t miss the sale with the quick loan process and cash disbursement from the licensed money lenders.
Investments come with the right timing.
What will you do if the time has arrived but you’re not financially prepared?
Easy. Take out the best instant cash loan in Singapore.
If you want to grow in the stock market, let your quick cash do the work. You loan cash will help you start and continue your investment plans.
Make your dream vacation into a reality.
Book a flight now that seat sales are out and hotel reservations are discounted.
Are you hesitating due to lack of funds?
No worries. Simply apply for the best instant cash loan in Singapore and you’re good to go.
Have fun, relax and enjoy your breather from work.
Regardless of your purpose, always weigh the pros and cons of your loan applications. Keep in mind that banks do not disburse cash instantly. Take note that pawn shops require collateral. Most importantly, money lenders are everywhere.
How to Differentiate a Licensed Money Lender from a Loan Shark?
The growing number of lending institutions is quite disturbing. Finding the best legal lender is overwhelming especially with loan sharks everywhere.
Here are some tips to find a licensed money lender.
Registry of Moneylender
A legal money lender should be included in the list of licensed money lender in Singapore.
If the lending company is not on the list, it’s most likely a loan shark. They aim to milk your money instead of helping you.
A licensed money lender in Singapore is allowed to promote their products and services in 2 ways. They are permitted to enhance their official business website. They can only elaborate their loan offer in their own office premises.
Other than that, advertisements done through SMS, emails, phone calls and flyers are strictly prohibited. If you get to know a lender in this way, avoid them. This is a loan shark.
As you communicate with your lender, observe how they interact with you. A healthy rapport is built between a borrower and the lender.
Licensed moneylenders in Singapore are friendly and accommodating. They hear out your concerns and ideas. They are also professionals and give out legal advice for your financial situations.
Contrary to that are loan sharks. They are too persuasive and sometimes blackmail borrowers. If you feel uncomfortable with the lender, withdraw your application immediately.
Keep all your original documents with you at all times.
Licensed money lenders ask you to submit a copy of your documents. If ever they need any personal information, you should be the one to enter all the data.
Unlike loan sharks who get your original copy. No matter how threatening and believing their words are, never give them access to your personal details.
All types of loan applications must undergo a due process.
If you’re in a hurry to claim loan cash, take time to understand the loan procedure. Licensed money lenders in Singapore discuss the instant cash loan process in detail. It won’t take much of your time. No need to skip a step. You’ll get your quick cash before the day ends.
On the other hand, loan sharks give out loans instantly. They lend cash without much fuss but with tremendous interest rates or hidden charges. Thus, creating a spiralling debt for you.
The contract is the black and white of your agreement with the lender. Whatever you have agreed on verbally should be in the contract.
Licensed money lenders in Singapore like Cash Mart are transparent. You can read all the terms and conditions, including the fees in your instant cash loan contract.
Loan sharks discreetly add statements or fees in the paper. Do not sign anything especially if there are changes without prior notice.
The moment you receive the disbursed cash, count it. If you want it to be wired on your account, check it immediately.
Remember, the only fee a lender can deduct from your principal loan is the processing fee. This fee should not be higher than 10%.
A lot of money lenders are out there. Choose the one that offers the best instant cash loan in Singapore. Licensed money lenders give out quick cash for the right intentions. They help you get out of your financial sinkhole.
If you spot unlicensed money lenders or loan sharks, contact the authority at once.
- Call thru 1800-2255-529.
- Email at OneMinLaw@mlaw.gov.sg
Are you convinced that you need an instant cash loan from a licensed money lender?
Search for Cash Mart.
They have a wide variety of loan products and services that will surely fit your needs.