Most of us would know that at the end of every month, you will be swarm with mountain of pressing bills that are waiting to be paid off. Bills such as utility, insurance, telco, kids tuition fees, credit cards, households repairs and etc can be quite haunting and suffocating. Well it may seem almost impossible and there is probably no other alternative to resolve these financial burdens but to go around searching and borrowing money to clear off your financial needs.
But who likes going around to ask for money? Nobody likes to go around begging for help to get just to get through your monthly monetary needs. Initially, your family and friends might be cool enough to lend you some money to tide through but it is not for the long run. In times to come, it will eventually spark off unpleasant feelings and bring inconvenience to them as well if you approach them for personal loan persistently every time of the month. Moreover, every one has their own limitations and they cannot help you forever. What if you need a huge sum of money, do you think they will lend you? Probably not.
As such, feeling puzzled and you start to ponder about the remaining options that are left for you.
Turning to a Financial Institution for help
Of course, the first and the last thing one would do is getting a loan from banks or licensed money lender in Singapore. Everyone has a negative impression on those who have bad debts. Nobody would like to be look in that kind of light and rumours about these lenders fear you. Often we hear from friends and families that these institutions offer extremely high interests rate and it is a bad choice.
However, this is agreeable to a certain extent. For banks, the loan process is quite tedious as the process of the application takes age and at the end of the dat, you might not get an approval. You could be waiting for weeks and all these waiting could be in vain if they decided that you are not eligible for any types of loan. There is no guarantee as there are many cases that these loan applications get disapproved. Banks are generally more strict as in order to obtain secured loans, one would require some tangible property in exchange for the loan if not the interest rate will get really high.
Licensed money lender might be the right option for your financial concerns. People always have this misconception about licensed money lender in Singapore and often associate them with what we known them as “loan sharks”. The government and media have been educating the public about the dangers and the implications of getting a loan from “loan sharks”. It is time for public to understand that there are no linkage between these two parties. Licensed money lenders are legally authorised by the Ministry of Law (MLAW) and it is a legal business and institution for one to apply for loan. The loaning procedure is identical with banks as naturally there are necessary paperworks, documents and requirements that are expected to be accomplished.
In times of emergencies, with these licensed money lender in Singapore, getting a personal loan from them might be the best option for you. Still, you are required to submit necessary information and document but the requirements are less strict. You will need to present your NRIC, income status slips, employment slips in order to be qualified for the loan. This has significantly increased your chances and shortened your waiting time in getting hold of fast cash to pay off your expenses within 3 days working days.
The Benefits of Instant Personal Cash Loan
Thankfully, licensed money lenders offer a range of loan options available for Singaporeans and even foreigners working in Singapore to choose from. But among these loans, instant personal cash loan seem like the number one choice. Borrowers like personal loan from licensed money lenders as they are not required to submit any valid personal reasons as to why they need the loan for. Besides, this cash loan guarantees a fast response as well.
1. Immediate Response
All you need to do is to fill up the online application form and the friendly financial advisors will call you within the day. Just like how it is named, you can get your cash loan almost instantly, just that you will need to head down to their physical office. You do not need to wait for weeks before you hear from the money lender. Thus, you can eliminate that off your mind and not be worried about not being able to pay off your debts and meeting your financial burdens.
2. Easy to obtain
Due to the fact of technology advancement in today’s context, the whole loan process has eventually become almost effortless. You can simply search for keywords online and lots of search results will come out and you’ll be spoilt with choices. As there are many money lenders available, do remember to do some basic research on their reputation and legitimate status before you go forth with your plans. You can easily find numerous reputable money lender online and everything seems so hassle free. Searching online works perfectly as you are able to research on multiple moneylenders and do up comparisons as they are all offer different rates and entail with different terms and conditions which are extremely important to digest. From there, you will selection which plans and which money lenders that would best for you.
3. The Level of Conveniency
You do not need to make appointment like how you would supposed for banks. There is no waiting queue and you can always head down to licensed money lenders’ physical office. Before that, it would be wise if you make a call and fill up the enquiry form so that you can save time and speed up the application process.
What are the Limitations of an Instant Personal Cash Loan
On the other hand, not all that glitters are gold. There are some considerations that you need to get in the head before you apply for any loan package.
1. Lack of Self Control
When things get much easier than before, often people will start to take things for granted. Now that personal loan application is pretty instant and easier to obtain, people might take advantage of it and turn this into a bad habit. They have the tendency to rely heavily on loans to pay off the debts. They will start to use loan to pay off debts and it will eventually turn into snowball effect and you will never pay off your debts completely. Some might even use the conveniency and get engulfed by their own materialistic selfishness which eventually regret in times to come.
Always remember, you should never take things for granted. Do not fall into such temptation trap otherwise you will regret badly. You do not wish to be falling into bad debts constantly as though you are stuck in a chain of nightmares. Financial planning is vital and once you are able to recover from the loan repayment, start saving up for your emergencies funding.
If you are unable to keep up with the loan repayment deadline that money lender set, be mentally prepared to receive penalties. There are still rules and regulations that you have to adhere strictly as licensed money lenders are legal business operators. To prevent yourself from not being to pay up, do plan ahead. Do not waste till last minute as money do not just appear up in the air or start raining on you.
At the end of the day, you have nobody to rely on but yourself. Do not overestimate yourself and get loan amount that you are unable to repay. Licensed money lenders aren’t God, you are expected to return them eventually. So you only take what you are capable of and not be too ambitious or greedy. Instant cash loan always come in handy whenever you are pressed to pay off your financial concerns. Just be sure that you know what you are actually signing yourself up for and all things will fall into places.