subject: New Type Money Lenders Singapore, Lending You Money Quickly [print this page] As we all know, sometimes it may be rather difficult for us to accumulate a large sum of money in a short amount of time for some affairs, such as car repairs, school fees, funeral expenses, holidays, furniture purchase, and so on. At this time, we usually turn to the traditional banks for help. If the banks decline our loan applications, we can borrow money from some new-type Money Lenders Singapore.
Different from the traditional banks, these new-type money lenders Singapore are born to offer those who need urgent funds a short-term loan. It is quick and easy for us to get a short-term personal loan from them. Their processing time is so fast that we dont have to wait for a couple of days before they approve our loan. They offer a diversity of repayment methods that are hassle-free, including cash, credit card. Typically, they offer a short term repayment plan that is affordable to our current financial circumstances and allows us to be free from being tied up for a long time to repay our loan. Even if we have a poor credit history and fail to borrow money from the traditional banks, we can still get the cash from them.
In general, money lenders Singapore are dedicated to offer two types of short-term personal loans, secured and unsecured. The major difference between the two kinds of loans is whether the collateral is required.
In order to get a secured loan, we have to provide the collateral which can be a house, a car or other items of great value for them to guarantee the loan. Once you cant repay the loan, they will confiscate the collateral to make up a loss. For them, the risk of offering a secured loan is significantly low. Therefore, we can borrow money from them easily just on the condition that we provide the collateral. Besides, they charge us with favorable interest rates.
Unlike a secured loan, an unsecured loan can be got while the collateral is not needed. As nothing valuable is offered to assure the loan, they have to confront with a high risk of offering the unsecure loan. Once we cant repay the loan, they will suffer a great lose of a large sum of money. Therefore, they will review your credit conditions carefully and charge us with high interest rates when offering an unsecured loan.
To get the cash from these new-type money lenders Singapore, we have to experience several stages. First, we fill in an application form on the Internet and provide it together with the relevant documentation for them via the Internet, mail or other ways. Second, they handle our application. Third, if our loan is approved, they have a discussion about the suitable amount of money you have to repay each month and then offer us a loan over a period of one month to half a year.
