The only way to get a personal installment loan in Singapore is like applying for any other loan. You first have to fill out an application. You can apply for a personal installment loan in three easy steps. Read on for more information about personal installment loans in Singapore.
During the application process, you will need to provide answers to many questions, including the type of loan you wish to apply, the amount of the loan, your name and NRIC, email address, contact number and monthly income. One of the benefits regarding these loans is that most of the paperwork can be completed online and you never have to leave the comfort of your home.
Once you submit your loan application, you have to wait for it to be approved. The approval process for each lender varies. One lender may take as little as 12 hours to approve your loan, and other lenders may take as long as 48-72 hours.
Receiving Your Loan
When your loan is approved, the money will be deposited into the bank account you provided on your loan application. Sometimes the loans are not available immediately. You may have to wait at least 12 hours before the money clears and you can withdraw the funds or make a payment for something.
Fees and Charges
There are many different fees and charges associated with installment loans. You need to be sure that you aware of these charges and fees and make sure you can pay them along with the money you borrow. Analyze your options are carefully and thoroughly as possible. it does not take much to place yourself in debt trying to repay a loan according to the lender’s terms and conditions. The more you know about the loan and lender, the better you will be able to assess your needs.