(1) Compare different online lenders – Ensure to identify several licensed lenders then compare the interest rates they offer. Read the reviews and testimonials found online and look if there are complaints against a potential lender. Good lenders are dedicated to assisting their customers including having a knowledgeable team of representatives to assist you.
(2) Apply online – After you have identified the right lender to work with, fill out an loan form and submit. Your application will be checked by the lender’s representatives and they will contact you within an hour after application.
(3) Visit the licensed lender offices– Licensed lenders require that you visit their offices so as to present the required documents which include SingPass, recent pay slips, and billing address proof among others.
(4) Talk to the loan officers – It is crucial to do this as you’ll learn more about your loan and you get to ask queries. Check that you understand the terms of your loan before signing the contract.
(5) Contract to be signed by both parties – Be sure to verify that a lender is genuine and are licensing by the Singaporean Ministry of Law. And once your documents are verified, you can sign the contract and so will the lender. Then your cheque or cash is issued to you in a matter of minutes.