No one wants to be in emergencies requiring cash, but it’s hard to avoid them even after budgeting. During this time, fast cash loans come in handy.

Unlike a loan from a bank, most fast cash lenders need minimal requirements to grant you credit. They simply understand that emergencies can occur, and you might not have the finances to pull yourself out of the situation.

If you need urgent money in Singapore, Tradition Credit can help you. It eliminates the lengthy and stressful process of securing a loan. However, the big question is, do you qualify for it?

Read on to know more about fast cash loan Singapore and whether you can acquire it!

What is a Fast Cash Loan?

Imagine you have just done your grocery shopping and are now waiting in the queue to clear the bill. As you pay, your card is declined! You try to call your friends, but no one is responding. Where do you rush to after exhausting all available options?

A fast cash loan is there to save your emergency financial needs. It’s a type of personal loan you take when unexpected financial obligations hit.

Usually, it’s hard to budget for everything, and you cannot foresee some costs that you might incur in the future. You can take such loans to care for heavy medical bills, car repairs, or cater to urgent living expenses.

Having a bad credit score ultimately turns away conventional lending institutions. This is not the case with fast cash loan lenders. You will get the required amount quickly, no matter your financial standing.

Most fast cash moneylenders in Singapore, like Tradition Credit, will not look at your borrowing history. You will get your money within a short time at affordable interest rates.

How to Ensure I Secure the Fast Cash Loan?

While getting a personal emergency loan is easy, you are unsure whether it will be approved. To maximize your chances of getting this loan sooner, ensure that you:

1.    Have a Good Credit Score

Even though most fast cash lenders do not worry about your financial standing, it’s good to be on the safe side. Keeping a good credit score fastens the process of getting a loan. It becomes easier to get approvals from your lenders, and some moneylenders will even waive fees for you.

The number of accounts, your credit history, and late payments will affect your trust with the financiers.

2.    Do Not Apply for Loans From Multiple Banks

We understand that you are looking for fast cash for a project you quickly need to finish, but no one will trust you when you borrow from many sources.

Your grantor will check your credit report whenever you apply for fast cash. Having loans from multiple places raises eyebrows. If you apply for funding from various lenders, each one of them will carry out the verification process, and thus, your file will have numerous inquiries.

When a lender sees that you have multiple inquiries, they might not approve your quick cash request. Also, it might indicate that you are trying to add on more debt. It, according to the bank, increases the risk of losing money since you won’t be able to repay it all.

3.    Check Cash Disbursement Time

When taking a quick cash loan, the time the cash is released matters. You want to ensure that your provider delivers the amount within the stipulated time. More so, the money should be available within a few hours to cater to the urgent need.

The lead time and the deposit account requirements are the main elements that affect how long the fast cash reaches you. It will not take long if you have a deposit account with a quick cash loan. Most times, the amounts will be available within the same day or a maximum of 24 hours after approving the loan.

If you have to create a new account, releasing the money might take a long time. Therefore, check the regulations for the fast cash loan provider you are working with to get the money on time.

Who Can Get Fast Cash Loans? Do I Qualify?

Of course, when applying for any loan, a criterion must be followed. However, obtaining a fast cash loan is much simpler and more convenient, especially when dealing with us.

Most lenders will ask for many requirements and documents. Others might not lend you if you are a foreigner, while some will require various agreements to release the funds.

For us, it’s simple! Here’s what you need if you are a Singaporean –

1.    National Registration Identity Card (NRIC)

You need your Identity card to get a fast cash loan in Singapore. If you do not have an identity card, you can attach your passport. Also, you must be 21 years or older to qualify for a fast cash loan.

2.    Income Proof

If you are a salaried employee, you should provide an income statement or monthly pay slips. If you receive payment through commissions, your bank statement for the past three months will help you secure the loan.

The self-employed individuals should present past two years’ income tax statements. If you lack this, you can give your latest billing proof like a mobile phone bill. The financial statements for your company for the last six months are also required, together with the latest ACRA business profile.

3.    Tenancy Agreement

This should only be provided if you have rented out your recent stay.

4.    What if You Are a Foreigner?

Well, foreigners too can get fast cash loans in Singapore. However, you need to provide the following:

  • Original passport
  • Tenancy agreement for the rented residence
  • Bank statement
  • Valid employment pass
  • Appointment letter from your company

With the many fast cash loan issuers in Singapore, you might get confused about whom to approach. However, knowing why you require the cash and the crucial details should guide you. Work with companies that guarantee security and process your loan without delays. You can trust Tradition Credit for easy and instant fast cash loans. Contact us today to apply.