The Singapore loan applications are comparatively easy compared to other Asian nations. If you know the steps and you have the papers required, you will not have a problem with the application process. For those who don't know, most money lending institutions in Singapore are not quite strict in granting loans application because it's their principle. Apparently trust is a big factor on this. However, lending companies trust that people do not run away from their responsibilities. This strong sense and value for trust is what drives people to apply for loans, and for companies to grant loans. The following are the steps in Singapore loan applications.
Step 1: Loans Application
Of course the first step is to apply for the loan. There are more ways than one by which you can initiate your application. One is to carry the required documents and apply personally in the money lending company itself. Just fill out a loan application form and submit it.
Additional, convenient way is online loans application. All you have to do is to go to the company's website, fill out an online loan application form, then click submit. If you opt for online method, a representative from the institution will get in touch with you for the details of the next stage of application.
Step 2: Submission Of Papers
Basically, Singaporeans only need to submit a couple of documents when applying for loans. For non residents there are additional requirements needed. For Singaporeans, the documents to be submitted are as follows:
1. Original Payslip (Latest)
2. CPF Statements
3. Income Tax Statements
4. PUB Or Hand Phone Bill That States Your Current Address
As you as you collated all the documents mentioned above, you can submit it in a couple of methods. First is to hand it in person to their office or second is to scan the papers and send it via electronic mail.
Approval
After your application is approved, you can already get your money. Obtaining a loan in Singapore is as easy as that.
The final step is to wait for the approval of the loan. The company will check whether you qualify for the loan. Can your salary support the regular monthly dues without bleeding you dry? Did you pay off previous loans from your money lender or are you regularly paying for current loans? All of those are factors for approval for loan application in a moneylender.
Step 1: Loans Application
Of course the first step is to apply for the loan. There are more ways than one by which you can initiate your application. One is to carry the required documents and apply personally in the money lending company itself. Just fill out a loan application form and submit it.
Additional, convenient way is online loans application. All you have to do is to go to the company's website, fill out an online loan application form, then click submit. If you opt for online method, a representative from the institution will get in touch with you for the details of the next stage of application.
Step 2: Submission Of Papers
Basically, Singaporeans only need to submit a couple of documents when applying for loans. For non residents there are additional requirements needed. For Singaporeans, the documents to be submitted are as follows:
1. Original Payslip (Latest)
2. CPF Statements
3. Income Tax Statements
4. PUB Or Hand Phone Bill That States Your Current Address
As you as you collated all the documents mentioned above, you can submit it in a couple of methods. First is to hand it in person to their office or second is to scan the papers and send it via electronic mail.
Approval
After your application is approved, you can already get your money. Obtaining a loan in Singapore is as easy as that.
The final step is to wait for the approval of the loan. The company will check whether you qualify for the loan. Can your salary support the regular monthly dues without bleeding you dry? Did you pay off previous loans from your money lender or are you regularly paying for current loans? All of those are factors for approval for loan application in a moneylender.
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