Singapore is one of the most exciting places to live and work. It is no wonder then that many people stream here every year to start life afresh. The country boasts one of the best educational systems in the world, high incomes and many other opportunities. However, there is a major challenge that you have to overcome and this is the high cost of living. Even as incomes rise consistently, the accompanying high cost of living makes it hard to depend solely on your income.
Most household owners find it hard to cater for all their expenses using a salary. Sometimes you might be faced with an emergency in the middle of the month and this poses a major challenge. Traditional lenders such as banks are wary of lending for personal emergencies. In such a case, you might be forced to borrow from family or friends and this is not only inconveniencing but also embarrassing.
This is where a Singapore payday loan from U Credit comes in handy. This is a form of unsecured loan that is pegged on your ability to pay with the next paycheck. The loan is used to cater for short-term needs such as medical emergencies and bills among other needs. There are licensed moneylenders today offering these financial services and they are regulated under the Singapore Ministry of Law.
Points To Look Out For The Best Payday Loan in Singapore
There are several reasons to opt for a payday loan when faced with an emergency. Take a look:
Easy application and approval – You don’t have to wait for weeks on end before your application is finally approved or rejected as happens with banks. Private and licensed money lenders like us have an easy and convenient online application process which saves time and money.
Versatile financing – Your cash can be used to sort out any form of emergency, be it car repairs, s medical emergency, household utility bills or anything else.
Tailored loan product – There is no one-fits-all payday loan. Instead, your loan provider will evaluate your needs and propose the best loan for you. This makes it easier to repay once you have sorted your financial needs.
Unsecured financing – There is no collateral needed to secure financing and this is one of the good reasons to obtain a payday loan for consumers.
For one of the most affordable payday loans in Singapore, simply apply for a loan with us or pick u the phone and talk to us today. Our commitment is to exceed your expectations by offering easy and flexible loan terms.
5 Questions to Ask When Shopping for a Payday Loan in Singapore
Financial emergencies are inevitable in life. If you live and work in Singapore, I believe you will agree that taking care of such unforeseen emergencies is getting more challenging. Households are now saving less as the cost of living increases. If you have to meet a cash shortfall before the next paycheck, you will have to look for alternative sources of money.
A payday loan in Singapore is the most preferable option to finance any urgent needs because it is provided by licensed moneylenders in the country. Payday loans can be used to take care of any form of emergency, be it a medical bill, car repair or anything else.
These loans are more affordable than using a credit card to sort out such expenses. With a custom loan, you get money to take care of your financial needs and it is also easier to repay. The loan provider provides you with a loan based on your needs and not on the products they are offering.
If you are shopping for a payday loan in Singapore, below are some questions you should ask in order to make the right decision.
Is a payday loan the best option in the market? Looking at the other alternatives for financing including loan sharks, there is no denying that this is the best option for anyone facing an emergency. If you want a flexible and affordable loan to sort out an emergency, you now have a way out.
Who qualifies for these loans? Payday loans are available for both Singapore residents and foreigners. As long as you have a source of income, getting a loan has never been easier. The loan is based on your ability to repay.
What are the documents required to qualify? You need a copy of NRIC as a resident, Singpass Login, proof of billing, recent pay slips, letter of employment, S Pass, E Pass, Entrepreneur Pass for foreigners, Accounting/Corporate Regulatory Authority (ACRA) and Notice of assessment (NOA) for self-employed.
Does credit history play a role in qualification? You don’t have to worry about your bad credit profile because what matters most is your ability to repay.
How do you apply for this loan? The first place to go is online in order to identify the best moneylenders based on the ratings by other clients. You should also check whether the lender is licensed and then compare their rates on their respective websites. Currently U Credit is offering interest rate at a maximum of 4% per month as regulated by law.
If you are looking for an affordable payday loan in Singapore, you don’t have to look further. We offer financial products that are tailored to your needs. Click here to apply for a loan now.