In case your budget shrunk out of various reasons and you find yourself in the situation of needing money fast, you could opt for a money loan.
But, since your situation is rather delicate, you would like for the loan to be approved as soon as possible.
There are lenders who can help you with this, but you should expect for the sum of money not to be that large. Express loans are possible, but the lenders usually don’t approve too much money. Still, if you don’t need more substantial sum, just some money to get through this difficult period, here are some tips you should know if you need a fast approval.
- Licensed money lenders have faster approval periods
First of all, you should always opt for the services of a licensed money lender in Singapore if you need a quick approval. Banks usually have a more extended verification period, and they will always ask for more documents. Because licensed money lenders cannot lend as much money as a bank can, they have the benefits of offering loans with fewer hustles. If everything is all right and you have all the required documents, the loan should be approved in a matter of days.
- Check the online portals
Again, when it comes to smaller loans, some lenders have online portals that you can use. You can just submit the request for a loan right there, without having to travel the entire Singapore in search for a lender. For small amounts of money, you will also need to provide very little documents, making the whole process a lot easier. Unlike a bank, once you manage to submit your form, a representative from the money lending company will call you in the shortest notice to close the deal.
- Keep the most important documents in hand
Even if it is a small loan, it is still a loan, and any lender will ask for the basic package of documents. Those would be your ID card, or any proof of ID, a proof of your income and your residence in Singapore. Make sure you have them ready by the time you apply for a loan, to make it even shorter. Also, once you have the documents, as proof of income and residence, don’t keep them too long, as they might not be taken into consideration is a certain period passes and you don’t use them.
- Keep the past loan records in handy
Having an active history regarding a previous loan, can be very useful in the case you need to apply for another one. If you had another loan in the past and always paid up in time, being a reliable customer, you will be served more quickly with the new loan. So make sure you have the payment records in handy to show to the lender representative, as it is a real proof that you are eligible for another payday loan or personal loan. If you never had a loan before, don’t worry, as you will obtain this one without a problem. Only that this was a good way to make thing a bit faster.