By William Robson
From a car accident to unexpected medical woes, or failing to foot emergency bills, there are many situations that can leave you with the gut-wrenching feeling of not having any money. The fast cash loans Singapore agencies understand how inconvenient and awful one might feel during such circumstances. Hence, cash loans with easy approval are there to help you pay off sudden expenses with complete peace of mind.
Getting cash loans from online agencies is no novel concept in modern-day Singapore. But there is more than one benefit of taking the helping hand from a licensed a truly competent agency. Here’s more to that.
Online Help Available
While the online moneylenders do mean business, they have the best interests of their customers at heart and mind. So the best in the line companies with have online helping assistants round the clock. So whenever you need help, feel free to pick up the phone.
Low Rates of Interest
Apart from an easy approval process, you have the opportunity to enjoy a low rate of interest and convenient repayment options.
An Option for All
Whether you are a Singaporean, or a permanent resident, or a foreigner, most of the dedicated money lending agencies customize services for all. There might also be provisions for those having a bad credit history.
However, foreigners might need to furnish some additional documents like:
- Valid Employment Pass in original
- Passport
- Letter of Appointment from your Company
- Payslip of the Latest three months
- Bank statement, PUB Bill, agreement for the rental premise, handphone bill, and the like.
Spotting the Rotten Tomatoes
There are way too many loan sharks and illegal money lenders waiting to offer you fast cash loans for an excessive rate of interest. While there is no formula to differentiate between the licensed agencies and the illegal ones, you would rather be wary of the companies having the following attributes:
- The business name or brand is not included in the register of licensed moneylenders
- Your chosen agency asks you to give access to your SignPass
- The moneylender shows threatening behavior to you after borrowing
- They ask to Retain your NRIC card or similar personal ID
- The agency asks you to sign an incomplete contract
- The agency refuses you to give a backup copy of the note of the contract
- The moneylender retains a portion of the principal loan
- If the company advertises through SMS, newsletters, flyers, SMS, or any other forms that the Singaporean government does not permit.