QV Credit Payday Loan Singapore
If you are strapped for cash before your next payday, you might be in need of a payday loan. However, many people in Singapore are unaware of what a payday loan is, and how it can benefit them. So, we will break it down for you, and simplify what these payday cash advances entail!
What Are Payday Loans in Singapore?
In simple terms, a payday loan is a loan you get from moneylenders when you run into a financial emergency and have not reached your monthly payday to cover the expenses. It is a short-term instant cash loan that allows you to make payment for expenditures you otherwise cannot cover. For example, you might need some money to pay for your child’s school fees. Instead of sacrificing your other monthly expenses, you can take out a payday loan and make the repayment the following month. Payday loans are designed to be smaller amounts that are easily repaid.
When Will I Need a Payday Loan?
If you are an employed individual in a difficult financial situation and need some extra cash to cover urgent expenses, then this is the loan type for you! You might need some quick cash, or your credit history is pretty bad and hence need some cash advance. Taking out a payday loan with QV Credit will help tide you over the difficult month. You should be able to settle monthly bills with this additional cash. As these are short-term loans, they should be easily repayable within the next payday.
Payday loans are beneficial as a rescue in difficult financial times, and a means of adding on to your salary if it is not enough to cover costs. The expenses incurred living in Singapore can be quite high, so payday loans can help reduce stress about money.
However, do take note that if you need a large amount of cash that is far beyond your income earning, then you should not take on a payday loan. As it is a short-term, unsecured cash advance, you will need to make repayment when you get your next paycheck. If you are unable to fulfill that requirement, then you should not take on a payday loan.
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How Do I Qualify for a Payday Loan in Singapore?
To qualify for a payday loan from QV Credit and any other licensed moneylender, you will need to meet some basic requirements. You have to provide proof of your employment status and be above 21 years old. You must also be a Singapore citizen or possess a legal work permit for Singapore.
How Do I Take Out a Payday Loan in Singapore?
Payday loans involve a simple process. Unlike bank loans, which can involve long approval times, QV Credit has an online application that you can make from the comfort of your home. Simply fill in the form here and a loan assistant will contact you within 24 hours to set an appointment time. You will need to bring along some documents for the appointment:
At the appointment, the loan assistant will guide you through all the details and conditions of your loan, including repayment schedules. QV Credit has a team of wonderful professionals who have experience in Singapore’s financial industry and will take you through the process in a detailed and clear way. There is full transparency throughout the process, no hidden terms. Once the loan is approved, you will sign the loan agreement and the money will be given on the spot via cash or cheque. It is a simple and straightforward process that will give you the much-needed cash almost immediately.
If there are any special requirements you may have regarding your payday loan, we will be more than willing to accommodate you as much as we can. Drop us a call at +65 6100 8655 if you have any queries.
It is a simple and easy process that will get you emergency cash in no time.